Webinar: Is your prime broker (or fund administrator) the biggest threat to the success of your business?

AUDIO: An audio replay of the Webinar. Click on the 'Play' button to listen.




Managers have become so wearily familiar with completing and issuing due diligence questionnaires that there is talk of a box-ticking culture taking hold of the hedge fund industry. Investors, conscious of the perils of form over substance, are now probing beyond the management company itself to encompass its service providers, of which the most important are prime brokers and administrators. Investors are also pressing managers to assess and mitigate service provider risks other than the obvious.

The due diligence questionnaire has become a standard feature of the investment process for hedge fund managers. Yet managers have, until recently, paid less attention to one key issue than their investors: the risks posed by their service providers. These include auditors, law firms, technology suppliers, back and middle office service agents, compliance consultants, payroll providers, insurers, real estate agents and – especially in Europe – the depositary bank. Investors assess all of these, but they focus their attention on what are easily the most important service providers of any: the prime brokers and the fund administrators...


To read the full summary of the webinar please click here.




Sponsored by

"SuMi TRUST" is the international marketing name of the Sumitomo Mitsui Trust Group and its affiliated companies



The webinar will be moderated by COOConnect founding partner Dominic Hobson, and will include the following panellists:


Opening and closing remarks by Dominic Hobson, Founder of COOConnect.



Charles Bathurst is a consultant to the board of SuMi TRUST Global Asset Services. Charles graduated from the Royal Military Academy Sandhurst in 1974 serving as an Officer in the British Army before leaving to spend eight years in the engineering industry, initially with GKN on their military vehicle division. In 1988 Charles moved to the City of London where he worked in international financial and commodity markets for GNI and moved to Credit Agricole in 1995 to found their alternative investment management group. In 1998 he established Credit Agricole Asset Management in London becoming Managing Director. In 2004 Charles moved to Old Mutual Asset Managers becoming International Sales and Marketing Director and in 2008 joined J O Hambro Investment Management Limited as Director and Head of their internal Fund Management Group. During his career Charles has been responsible for initiating and managing to profitability new businesses, multiple product launches and building distribution channels in more than 40 countries globally. Today he is a consultant to the board of SuMi TRUST Global Asset Services to build their commercial growth globally ex Japan.


Chris Caruso is the founder of Pangea Business Solutions. Prior to this he was Head of Relationship Management for Prime Brokerage business at Deutsche Bank where he and his team were responsible for covering the group’s largest clients. From 2001 to 2010 he was US Head of Prime Brokerage. Chris led the build out of the business which was the #1 ranked prime broker in the Global Custodian Survey four consecutive years. In 2009 he led the development of the first industry white paper on prime broker counter-party risk; Chris was the primary contact with clients, investors, and regulators for counter- party risk and asset protection.

He has a BA in Economics from Swarthmore College and an MBA in Finance from Boston College Carroll School of Management. 



Pablo Urreta  is responsible for hedge fund research, selection and due diligence at Sussex Partners. Mr. Urreta has spent the last 7 years performing analysis on a large number of hedge funds and has a successful track record in identifying high-quality funds across different strategies. Previously, he was a founding partner and director of Colombitana Ltd, an international trade business in the agriculture sector funded by venture capital investors. Prior to this, he spent several years in the management consultancy and market research sectors in London, primarily involved in financial services and economic research. Mr. Urreta received a BSc in Economics from Universidad Javeriana (Colombia) and a MA in International Management from Regents Business School, London, and is fluent in Spanish and English. Mr. Urreta is a director of Sussex Partners UK Ltd.



Marshall Terry is a Managing Principal, the Chief Operating Officer, and the Chief Compliance Officer of South Ferry. Prior to joining the firm, Mr. Terry was an Associate Principal at eClerx LLC providing operational and legal risk management consulting services to the firm’s buy side clients. Prior to this, Mr. Terry was the Chief Operating Officer and Chief Compliance Officer at DW Investment Management, L.P., a spin-out of Brevan Howard US Asset Management LP. Before that, Mr. Terry was the Chief Operating Officer for Credit Products at Brevan Howard US Asset Management LP. Earlier, Mr. Terry was Head of Derivative and Loan Operations and Derivatives Counsel at Sandelman Partners, LP. Previously, Mr. Terry served as the Director of Derivative Operations and Derivatives Counsel at Moore Capital Management. Mr. Terry began his career in the legal and operations departments of HypoVereinsbank, Citibank, N.A., and Bankers Trust. Mr. Terry holds a J.D. from the Boston University of Law and a B.A. in Economics from the University of Vermont. Mr. Terry is a member of the New York State Bar Association and a co-founder of The Hedge Fund Operational Working Group, an industry forum that provides guidance for hedge fund managers to effectively launch and grow their businesses. He is also a member of the CFTC’s Technology Advisory Committee.