New Jersey-based Derivatives Portfolio Management LLC (DPM), an onshore/offshore alternative investment administration firm specialising in derivatives risk analysis and measurement, has formed DPM Europe Ltd and opened an office in London.
“As hedge funds and other alternative investments continue to grow in assets under management, the demand for DPM’s specialized administrative services intensifies,” says Robert M. Aaron, Chairman and CEO. “In order to provide a high level of customized client service to our European clientele, we decided to establish a physical presence in London.”
Aaron says DPM Europe will build a client service group to address the needs of its existing European client base. The firm also plans to expand its sales initiatives through strategic alliances and by creating a London-based sales team.
DPM provides web-based investment accounting, multiple broker and trader reconciliation, financial and tax reporting and fund administration services. DPM claims to have created a new standard in web delivery of customized portfolio and risk analysis, including daily NAVs and VARs. “Today’s technology allows us to provide vital, precise information to our clients daily,” says Aaron. “But there is no substitute for personal interaction, which is why we are opening offices in strategic locations around the world and adding staff who will be readily accessible to those we service.”
Jo Ann Di Dario joins DPM Europe as Managing Director of the London Office. Di Dario has a background in back office, investment and fund accounting, treasury operations and administration, having held positions at Merrill Lynch Investment Partners, Meridian Bancorp, Caxton Corporation, and Commodities Corporation.
DPM, which offers back-office services to fund managers, proprietary traders, institutional investors and asset allocators who invest in a wide range of asset classes and instruments traded world-wide, including the most complex derivatives. Last year, DPM announced the formation of a strategic business alliance with Daiwa Securities Trust and Banking (Europe) , in order to provide administrative services to Dublin-based clients of Daiwa.
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. DPM Europe is located at 33 St. James Square, close to Mayfair, where the majority of London-based hedge funds have set up shop.