Derivatives Portfolio Management, the alternative investment administrator, has promoted Gus Rossi to Vice President, Controller. Guy J. Castranova, President and COO of DPM, says Rossi’s responsibilities will include management of financial accounting as well as coordination of audits.
“Increased institutionalization of the alternative investment industry demands integrated administrative services by DPM,” says Castranova. “Gus has a solid understanding of the hedge fund industry, and we are confident that under his leadership DPM will expand the coordination between accounting, tax and operations in order to deliver the highest standards of administrative services to our clients.”
Rossi was previously Assistant Vice President, Tax at DPM and has managed the tax department for the past two years. He joined the tax department at DPM in January 2000 from Caxton Corporation, where he was head of tax supervision for more than two years. Previously, he was with Schaffer Lamont & Associates.
“My new goal is to make all aspects of the year-end audit process quicker and more efficient for all DPM clients,” says Rossi. “Just as soon as this year’s tax season is wrapped up, I will dedicate my efforts to coordinating all the departments toward integration of tax, accounting and audit functions to streamline the process.”
DPM offers back-office services such as investment accounting, multiple broker and trader reconciliation, financial and tax reporting, fund administration services, customized portfolio analysis, including daily NAVs, and risk management tools, including daily VARs.
Last year, DPM announced business partnerships with S3 Asset Management, the hedge fund aggregation platform based in New York, and with Tennyson Capital Partners, the London-based hedge fund advisory. In 2002, DPM announced the formation of a strategic 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 $20 billion of assets. Headquartered in Somerset, New Jersey, DPM has offices in Georgetown, the Cayman Islands, Nassau, the Bahamas, and London, England.