Fulcrum Group, a leading global administrator for the hedge fund and alternative asset management industry, today announced that Jill M. Considine, Former Chairman & CEO of the Depository Trust & Clearing Corporation (DTCC) in New York, has been named Chairman of the Board of Directors.
“Fulcrum is at a turning point in its evolution and is poised for further expansion in existing and new markets,” said Akshaya Bhargava, Fulcrum’s Chief Executive Officer. “Jill’s leadership and extensive experience as the head of the DTCC during a pivotal time in the securities industry will serve to provide invaluable stewardship as Fulcrum focuses on its strategic initiative of building the gold standard administrative platform for the hedge fund industry.”
As head of DTCC from 1999 to 2007, Ms. Considine was responsible for building DTCC into the world's largest post-trade infrastructure for clearing, settlement, and custody of most U.S. securities transactions. She expanded DTCC's business activities into the OTC derivatives market, led the launch of Omgeo (a joint venture with Thomson Financial) and positioned the company to be a global service provider. Ms. Considine also currently sits on the board of Interpublic Group of Companies, Inc., Atlantic Mutual Insurance Company, and AMBAC Financial Group.
“I am impressed by Fulcrum’s focus on straight through processing capability in a complex environment servicing Hedge Funds, using a very effective combination of technology platforms and rigorous operations discipline.” said Ms. Considine. “Achieving the right balance between technology, process and talent, accompanied by a resilient and scalable infrastructure provide the right ingredients for excellence in customer service.”
Ms. Considine brings significant leadership experience in Financial Services, Operations, Technology and Governance that will play a key role in positioning Fulcrum as a leader in the Hedge Fund Administration industry.
Background on Jill M. Considine
Jill M. Considine has served as a consultant and Senior Advisor to The Depository Trust & Clearing Corporation (DTCC) and its subsidiaries since stepping down as Chairman in August 2007. Between 1999 and 2006, she served as Chairman and Chief Executive Officer of DTCC. She relinquished the CEO title in 2007 as part of a planned succession plan that she initiated. Prior to joining The Depository Trust Company, Ms. Considine served as the President of the New York Clearing House Association, L.L.C. from 1993 to 1998. Ms. Considine served as a Managing Director, Chief Administrative Officer and as a member of the Board of Directors of American Express Bank Ltd., from 1991 to 1993. Prior to that, Ms. Considine served as the New York State Superintendent of Banks from 1985 to 1991. Ms. Considine also serves as a director of the Atlantic Mutual Insurance Companies, The Interpublic Group of Companies, Inc. and Ambac Financial Group, Inc. Ms. Considine recently completed a six year term as a member of the board of the Federal Reserve Bank of New York where she served as Chairman of the Audit and Operational Risk Committee.
About Fulcrum Group
Established in Bermuda in 1995, Fulcrum Group is a leading global fund administrator for the hedge fund and alternative investment management industry. Fulcrum is management owned and funded by 3i. Led by experienced professionals, Fulcrum is committed to quality information, technology, and processes. Since Fulcrum’s inception, it has invested in the creation of technology designed specifically to satisfy the demands placed on a fund administrator by hedge fund managers and investors. Continuous development of our proprietary software maintains our position as a global leader in the automation of fund administration processes. Fulcrum has offices in New York, London, Bermuda, Canada, Dublin, the Cayman Islands, and India. For more information please visit www.fulcrumlimited.com.
Contacts:
Lisa
Jane O’Neil, 212-786-7629 or 917-361-8303
lisajane@ljoassociates.com
