Derivatives Portfolio Management, L.L.C. (DPM), the hedge fund administration firm, announced today that Catherine S. Banat had joined the firm as Executive Vice President. Banat will manage the sales group, build a client service team and spearhead business development.
Banat will continue in her previous role as CEO of C3 Capital, a consulting firm that specializes in identifying people, ideas and capital to help hedge funds grow.
“DPM has benefited greatly from Ms. Banat’s expertise,” says Robert M. Aaron, Chairman and CEO of DPM. “She brings clarity and creativity to every business issue and has a keen sense of how to combine and motivate teams of people to achieve strategic goals. We are pleased that she has joined us, and we anticipate an exciting evolution of our business with her talents focused more fully on DPM.”
“Joining DPM represents exciting business development challenges and opportunities,” adds Banat. “The firm’s technical prowess is the best in the business, and its service offerings are both broad and deep. DPM is ready to grow, and I look forward to participating in the formation of new strategic partnerships and client relationships.”
Banat was a Vice President at Goldman, Sachs & Co. for ten years, working on strategy development, sales and business structure for the creation and growth of several businesses, including foreign exchange, global custody, prime brokerage, and securities lending. In 1995, she joined Paloma Partners, where she raised capital and managed financing for the firm. In 1998, she joined Lehman Brothers as Senior Vice President responsible for Global Sales for Equity Finance.
Banat holds a BS in Economics and a BA in History from The Wharton School of the University of Pennsylvania and an MBA from the Columbia University Graduate School of Business.
DPM offers back-office services to fund managers, proprietary traders, institutional investors and other fund managers, with a particular expertise in complex derivatives. Last year, DPM announced the formation of a business alliance with Daiwa Securities Trust and Banking (Europe) plc (“DSTBE”), in order to provide administrative services to the Dublin-based DSTBE client group.
DPM, which was established in 1993, currently provides services for approximately $14 billion of assets. Headquartered in Somerset, New Jersey, DPM has offices in Georgetown, the Cayman Islands, Nassau, the Bahamas, and London, England.