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Custom House Global Fund Services, the Maltese-based holding company for the Custom House group of companies, has appointed Mark Hedderman as chief operating officer.
Hedderman has been with the Custom House Group for nine years.
He began as manager of the administration department in Dublin, before setting up representative offices in Chicago and Singapore.
He later returned to Dublin as managing director of that office, with oversight of the Chicago office.
As chief operating officer, Hedderman will have a dual role as he will remain as managing director of Dublin for the foreseeable future while his replacement is identified.
Pacific Alternative Asset Management Company, a USD10bn fund of hedge funds company, has promoted Mayer J. Cherem, Maarten Nederlof, Neale Safaty and Kevin Williams to partners.
"These appointments underscore Paamco’s continuing commitment to excellence in due diligence, risk management and portfolio construction. These individuals have made significant contributions to our business as well as the disciplined investment process we implement to achieve superior risk adjusted returns for our clients," says Jane Buchan, chief executive officer of Paamco.
Cherem is a director and the sector specialist responsible for the evaluation and management of opportunistic investments and offensive risk management initiatives. He
GlobeOp Financial Services has been appointed to provide investment management operations outsourcing services for European Credit Management, a specialist asset manager and subsidiary of Wells Fargo with approximately EUR12.1bn (UD15bn) in assets under management.
GlobeOp, which has completed more than 300 fund conversions to its platform since 2006, will provide European Credit Management with a broad range of investment operations services including trading support, pricing and valuation analysis, financial reporting and net asset value calculations.
As a result of this mandate, approximately 40 London-based European Credit Management employees plus some additional temporary staff will be transferred to GlobeOp on 1
RAB Capital has appointed David Seex as the chief executive officer of RAB Capital Asia.
Seex will develop the company’s activities in Asia, widening RAB’s contact base in the region, and will oversee the company’s Hong Kong office.
Seex has a deep knowledge of the hedge fund industry and a wealth of contacts across Asia having worked as a managing director at Citigroup. He was a founding member of Citigroup Alternative Investments management team and from 2001 acted as head of Citigroup Alternative Investments in Asia.
He joined Citigroup in 1998 after spending three years at United Distillers, part
Quintillion, an independent hedge fund administration firm, has released an enhanced version of its proprietary reconciliation suite, Q Match, incorporating automated open trade equity reconciliation modules for the commodity trading advisers sector.
Q Match provides a fully automated platform for daily reconciliation of positions, profit and loss data, cash and unrealised gains and losses between Quintillion and numerous portfolio management systems and prime brokers.
The automated cash and open trade equity reconciliation modules ensure efficient interfaces between clearing brokers and counterparties to Quintillion’s fund accounting records on Advent Geneva.
The open trade equity reconciliation module enables high volume trading CTA
Permal Investment Management Services has appointed Andrew Rozanov as managing director, head of sovereign advisory.
Rozanov joined on 1 July and is responsible for developing Permal’s relationships with sovereign wealth funds, as well as further enhancing the group’s portfolio construction and risk management capabilities.
Rozanov has held various roles at State Street, most recently at State Street Global Markets, where he was managing director and head of sovereign advisory, portfolio and risk management group. In this role, he provided specialist portfolio advice to sovereign clients and to other large institutional investors.
Omar Kodmani, Permal senior executive officer, says: “Andrew is
The Depository Trust & Clearing Corporation has acquired the outstanding shares of Avox, a reference data business located in the UK.
Avox’s primary business is cleansing and maintaining high-quality reference information on legal entities and counterparties needed by financial services to support a variety of operational, risk management and regulatory compliance activities, including know your customer and anti-money laundering reporting.
Avox provides an automated, centralised corporate database resource, with information on the legal name, address, corporate hierarchies, immediate and ultimate parent, industry sector codes, company identifiers, and regulator information applicable to these companies.
“The need for accurate, well maintained reference
NYSE Technologies, the commercial technology unit of NYSE Euronext, and Markit, a financial information services company, have launched a joint initiative designed to consolidate data and enhance transparency in the European over the counter equity markets.
NYSE Technologies will integrate data from Markit Boat, the largest trade reporting venue in Europe, within its own range of market data products.
This will give joint users access to trade reports on an average of roughly EUR30bn of OTC trades in equities every day which is equivalent to approximately 80 per cent of the daily volumes traded on all European equity markets through
The Depository Trust & Clearing Corporation plans to establish a subsidiary called DTCC Derivatives Repository, which will maintain global credit default swap data identical to that maintained in its New York based Trade Information Warehouse.
The move is intended to help ensure that regulators globally have secure and unfettered access to global data on credit default swaps by establishing identical CDS data sets on two different continents.
“DTCC has always envisaged a ‘global solution’ for repository services supporting each OTC asset class,” says Stewart Macbeth, managing director and general manager, Trade Information Warehouse. “It is very common for counterparties to
SkyBridge Capital has completed its acquisition of the fund of hedge funds, hedge fund seeding and hedge fund advisory businesses from Citi Alternative Investments.
The deal positions SkyBridge as an alternative asset manager with a total of USD7.4bn in assets under management and advisory. Terms of the transaction were not disclosed.
With completion of this transaction, SkyBridge now offers investment services across four business lines addressing every type of market participant from individual retail investors to large institutions.
These business lines are: commingled funds of funds products; custom portfolios; hedge fund seeding and hedge fund advisory services.
Raymond Nolte, who
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