Deloitte announced that it has dedicated 10 of its partners in the past 18 months to specialize in its Asset Management Services practice, giving the firm significant capital market expertise for its hedge fund clients. According to a company press release, the head of U.S. Asset Management Services at Deloitte Cary Stier has undertaken a growth initiative for the practice, which believes that recent market conditions require greater operational, structural, and regulatory oversights on behalf of hedge funds. "Challenging times call for new ideas. The breadth of our practice [now] offers us the perspective vital to designing new solutions that help clients prepare for
the unforeseen.”
The Asset Management Services practice is a “one-firm” solution that seeks to offer clients a wide range of products, from tax and audit advisory to management consulting services. “Whether it's product restructuring, scenario planning for the new, dynamic regulatory environment, or facilitating transparent governance and oversight interaction between investors and their managers, industry players need to be prepared for change,” said Mr. Stier. It is through economies of scope, or efficiencies from a variety of interrelated products, that Deloitte offers an attractive solution for hedge funds seeking advisory services.
Ellen Schubert will assume the role of Chief Advisor in the Asset Management practice and Ray Iler will be the practice’s Northwest Pacific hedge fund leader. Mrs. Schubert was global head of UBS’ Fixed Income hedge fund practice prior to joining Deloitte. Mr. Iler was Chief Financial Officer and Corporate Secretary for Canadian oil and gas technology company Quadrise Canada Corporation. The hiring of Mrs. Schubert and Mr. Iler add to an already strong team of industry specialists providing years of industry experience to Deloitte’s hedge fund practice.
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