Local firm heads off to the Big Apple

| 20/10/2011

(CNS): Fund governance firm dms Management Ltd has just announced the opening of its New York office, dms Management (USA) Inc, located at the Rockefeller Center and headed by Executive Director Kathleen Celoria. The move will aid in the better governance of funds, the firm said. Celoria said the New York office would fortify the firm’s existing relationships with US stakeholders, many of whom, she said, were based in New York, adding that the move will help make the firm’s governance work more accessible and transparent to the funds they serve, as well as the investors.

Don Seymour, dms Management Ltd’s Managing Director said that the New York office will serve the increasing demand for institutional fund governance for onshore funds.

“The simple truth for investors is that many of the real life governance failures they suffered during the financial crisis were attributed to offshore funds feeding into onshore funds without proper governance. They’re now focused, correctly we believe, on a results-driven governance approach to avoid a repeat of those experiences,” Seymour said, confirming that DMS had conducted regular consultations with major institutional investors since the 2008 financial crisis.

Seymour went on to say that DMS believed that 2012 will be a pivotal year for fund governance with America’s Securities and Exchange Commission fund governance standards likely dominating the agenda.

“We want to do everything we can to advance effective fund governance standards and our New York office is an integral part of our commitment,” he confirmed.

Category: Finance

Comments (3)

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  1. US lawyer says:

    Holding over 500 directorships and now holding those in New York will not impress any New York judge that mind and management of these funds are in the Cayman Islands. Tread carefully Mr. Seymour you are going where angels fear to tread.

    • Transparency says:

      Tread carefully indeed. No self respecting judge will take notice of those self serving indemnities given with gay abandon to directors.

  2. Anonymous says:

     

    Congratulations to all at dms – a Caymanian success story!