HSBC Securities Services has been steadily growing its management team in New York, most notably with the hire of Scott Karp as head of Fund Accounting and Financial Reporting in the United States.
Karp joined at the end of 2009 and reports to Tanya Nystrom, US Country Head. Karp has spent 19 years in the financial services industry and was previously director of Financial Accounting and Reporting for Sandell Asset Management. Prior to that he was a senior manager at PricewaterhouseCoopers.
Karp has been joined by a number of other team hires. Thomas Higgins joined the business in April 2010 as head of the Regional Pricing Team Americas, reporting to Scott Karp. Higgins has been in the financial services industry for 14 years having spent the majority of his career at Citigroups markets and banking group. His most recent roles included the market risk management responsibility of the Municipal and Rates business (swaps, OTC and exchange traded options, structured note creation, mortgage pass-through trading, government and agency trading).
Roman Osidach recently joined the Fund Services team as a senior fund Administration Manager reporting to Scott Karp. He is responsible for the accurate and timely delivery of all fund accounting services delivered to alternative fund clients. With 18 years of financial services experience, Osidachs most recent role was as an executive director, Portfolio Services Manager for Morgan Stanley supporting the alternative investment team in their fund of hedge funds and private equity/real estate fund of funds business.
Gregory Cahaly was hired as US head of Operational Risk at the start of the year, reporting to Marianne Motley, Fund Services chief administration officer. Cahaly is responsible for ensuring that an effective framework is in place to further manage and mitigate operational risk. With over 14 years in the financial services industry, he was most recently with Citi-Global Wealth Management Investments as a director of Risk and Compliance with the Portfolio Management Group.
Gerald Donaghy was recently hired as a Global Tax manager, reporting to John Crager, global head of Tax Fund Services – Alternatives. With over six years tax experience, with his primary focus on the asset management sector, he will be providing tax reporting services to HSS global fund clients. Prior to joining HSS, Donaghy was a tax manager in Ernst & Youngs Financial Services Office where he concentrated on hedge fund, fund of fund and international clients.
Robert Crowley has joined the Fund Services team as head of US Tax Reporting for the fund services business, responsible for the US tax reporting of global clients. He reports to John Crager and has over 14 years experience with the Big Four public accounting firms.