New York, 05 January 2010
Macquarie Funds Group, the asset management arm of Macquarie Group (ASX: MQG; ADR: MQBKY), today announced the appointment of Pratap Dasgupta as a Managing Director in its fund-linked derivatives business, based in New York.
The hiring of Mr. Dasgupta follows the recent appointment of Mike Vitelli and together they will lead the expansion of Macquarie’s existing fund-linked derivatives business globally. Prior to joining Macquarie, Messrs Vitelli and Dasgupta were senior members of the fund-linked derivatives team at BNP Paribas.
Macquarie’s fund-linked derivatives business provides financing to funds of hedge funds and mutual funds as well as the issuance of structured products over funds of hedge funds and mutual funds to institutional and high net worth investors.
Peter Lucas, Head of Investment Solutions and Sales at Macquarie Funds Group, said: “Macquarie has been very successful in providing fund-linked derivative strategies to its clients across Asia and Australia and we’ve been looking to build on that by expanding in the U.S. and Europe. Mike and Pratap are an excellent team to lead that expansion and capitalize on the opportunities presented by current market conditions. They both bring a wealth of analytical and practical experience to our team and are highly regarded by their clients.”
Mike Vitelli, Managing Director, Macquarie Funds Group, said: “I am delighted to continue working with Pratap at Macquarie. We both joined Macquarie because of their expertise in the asset management sector and desire to expand their fund-linked derivatives activities. Macquarie’s strong financial position will support us in delivering clients the innovative products and dependable service that has become the hallmark of our professional careers.”
Mr. Dasgupta will commence with Macquarie on March 1, 2010.