Mon, Nov 30, 2015
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Alternative Market Briefing

North eastern US struggles back to business after ferocious Storm Sandy

Wednesday, October 31, 2012

By Beverly Chandler, Opalesque London:

The lion’s share of the global hedge fund industry found itself at the epicentre of the north eastern corner of the US that Storm Sandy hit with such ferocity on 29th and 30th of October. For the non-American hedge fund community, yesterday was as if someone had switched the power off in the US, as communications pretty much stopped and news, once the country reached daybreak on the 30th October, came in the form of increasingly shocking images of devastation and post-Apocalyptic scenes.

Time for all the disaster recovery and business continuity planning to step up to the plate but with Storm Sandy’s breadth of 800 to 1000 miles, concerns are that data recovery facilities might have been a tad too close.

One hedge fund administration consultant, interviewed by Opalesque, says: "I've done a lot of operational due diligence visits on the major East Coast fund administrators and they all have good specialist secondary disaster recovery sites - but they are always about 30-50 miles from their main office. This means that Sandy will have pounded both their primary and back up business sites - so it raises the question did their disaster recovery plans work and could they offer a seamless service to their clients? I would doubt it - if their staff couldn't even get to the back up sites. They may have been able to offer a skeleton service by people working from home - if they were lucky enough to have power!"


To view our full article Click here

Today's Exclusives Today's Other Voices More Exclusives
Previous Opalesque Exclusives                                  
More Other Voices
Previous Other Voices                                               
Access Alternative Market Briefing

  • Top Forwarded
  • Top Tracked
  • Top Searched
  1. Other Voices: Hedge fund marketing and the selling cycle[more]

    By Bruce Frumerman. How long is the selling cycle now? That’s a question my financial communications and sales marketing consulting firm has been asked on a regular basis by hedge fund firm owners and sales people, ever since we opened the doors to our firm in 1987 pre-crash. Wa

  2. People - Solus Alternative Asset Management adds chief strategist from BTIG[more]

    From Daniel Greenhaus joined hedge fund manager Solus Alternative Asset Management as managing director and chief strategist. He will work closely with Chris Bondy, Solus’ chief economist, managing director and executive vice president, said Chris Pucillo, CEO and chief investmen

  3. Commodities - Stung by oil, distressed-debt traders see worst losses since '08[more]

    From It’s mid-November, but for investors who trade in the debt of distressed companies, the year’s already done -- and they lost. Hedge funds that specialize in the debt are grappling with their worst declines in seven years. Funds managed by Knighthead Capital Management, Candlewood

  4. Opalesque Roundtable: Seeding deal terms can be onerous for hedge funds[more]

    Benedicte Gravrand, Opalesque Geneva for New Managers: Executives from fund of funds firms, family offices, a placement agent, a private equity firm, and an accounting firm gathered in Connecticut last month for the

  5. Opalesque Roundtable: Family offices flock to co-investment[more]

    Bailey McCann, Opalesque New York: Co-investments have been a hot topic for pension funds in recent years, as they try to move away from high fees and improve transparency. But now, family offices are more readily getting into the mix and establishing in-house deal teams, according to the delega