bfinance Adds Matthew Siddick As Senior Director
Investment consulting firm bfinance has appointed Matthew Siddick as Operational Risk Solutions Senior Director. Siddick will head up bfinance’s new Operational Risk Solutions advisory unit, based in the firm’s London office. He has more than 14 years of experience in financial services, pensions and investments, most recently as head of EMEA Operational Due Diligence at Aon where he led the firm’s London based ODD group responsible for evaluating the operational risk of managers and funds held by Aon’s clients across the firm’s Advisory and Fiduciary platforms.
Siddick represents bfinance’s first senior appointment dedicated solely to Operational Due Diligence matters. He will focus on enhancing and developing solutions designed to support investors’ operational risk requirements, both at the time of appointing external asset managers and over the longer-term as part of ongoing due diligence. Higher allocations to alternative investments can also increase the ODD burden; these strategies bring further potential for exposure to differentiated risks such as those related to complex counterparty relationships, the use of leverage and private market valuation methodologies. Alternative asset classes—particularly private markets—have represented an increasingly prominent portion of bfinance’s manager research. During the 12 months to June 30th 2021, 45% of all new manager searches initiated by bfinance clients were focused on private markets, including a number of less conventional sectors such as Trade Finance, Impact Real Estate, Equipment Leasing and high-yielding Real Estate Debt.
Siddick will report to Duncan Higgs, Managing Director and Head of Portfolio Solutions.
“We are delighted to welcome Matt to the team: he brings outstanding experience in the field," said Higgs. "This appointment is an important step in the enhancement of the firm’s ODD capability as we look to support our asset owner clients with the challenges they currently face.”
“I take great pleasure in joining bfinance and engaging with the firm’s diverse global client base. As investors’ strategies become ever more complex and portfolios increasingly gain exposure to alternative asset classes, there is a growing operational risk burden. It is crucial for investors to be able to demonstrate that related operational risks have been evaluated, measured and monitored in a structured and well-documented fashion," said Siddick.
© The Sortino Group Ltd
All Rights Reserved. No part of this publication may be reproduced, stored in a retrieval system or transmitted in any form or by any means, electronic, mechanical, photocopying, recording or scanning or otherwise, except under the terms of the Copyright, Designs and Patents Act 1988 or under the terms of a licence issued by the Copyright Licensing Agency or other Reprographic Rights Organisation, without the written permission of the publisher. For more information about reprints from AlphaWeek, click here.