Deloitte has furthered strengthened its hedge fund practice with two key appointments for the UK and EMEA regions.
Chris Farkas joins Deloitte as UK hedge fund leader. He was Deutsche Bank's European head of hedge fund consulting in its prime brokerage group, working with global top 100 hedge funds and significant hedge fund start-ups. Prior to Deutsche Bank, Chris was head of sales at GlobeOp and executive director on the Goldman Sachs European hedge fund consulting team. Chris qualified as a Canadian Chartered Accountant in 1999 before joining Deloitte Canada.
Farkas' appointment follows the announcement that Deloitte's Brian Forrester will take on the role of hedge fund leader for the Europe, Middle East and Africa region. Forrester is a partner with Deloitte in Ireland, having recently returned to Ireland after two years with the UK firm. Forrester has 20 years' experience in the hedge fund industry, working in the Caribbean and Channel Islands as well as the UK and Ireland. Forrester said: “Investors recognise the need for customised portfolios and are using hedge funds to provide better risk adjusted returns and diversification. As a result, investor allocations are increasing and hedge funds are expanding to take on more assets and staff whilst launching new products. This convergence within asset management has led to a surge in demand for advisory services. We wanted to make sure the right people were in place to meet these client needs, and Chris will lead this effort.”
Farkas added: “We are at a pivotal time in the industry. Hedge funds are growing and embracing significant changes to their operating models, whilst testing their ability to scale. Regulations have changed the way managers run their business from trading to marketing. Investors seeking to preserve capital and minimise the risk of their investment now require a higher level of assurance regarding a hedge fund managers' business.”