SOMERSET, N.J. (HedgeWorld.com)–Joseph G. Fallon was hired as general counsel to Derivatives Portfolio Management LLC, a hedge fund administrator.

Mr. Fallon was corporate counsel to RCN Corporation, Princeton, N.J., where he structured and negotiated agreements for joint ventures and alliances. At DPM, he will be responsible for protecting the company’s legal interests worldwide and maintaining its operations within the scope of the law.

According to Robert M. Aaron, chairman and chief executive of DPM, substantive growth over the last year prompted the firm to create the position of general counsel. He added that Mr. Fallon will be “instrumental in protecting and advancing” the administrator’s business lines and strategic plans.

DPM provides back-office services to hedge funds. Clients have access to web-based investment accounting, multiple broker and trader reconciliation, financial and tax reporting and fund administration services. DPM created a new service, offering customized portfolio analysis, including daily net asset value and risk management tools and daily Value-at-Risk statistics.

The firm handles US$18 billion on the behalf of a variety of companies including Boston-based Putnam Lovell, S3 Asset Management, New York, and Tennyson Capital Partners in London. DPM also has a strategic business alliance with Daiwa Securities Trust and Banking (Europe) plc to provide administrative services to its Dublin-based client group.

Contact Bob Keane with questions or comments at bkeane@investmentadvisor.com.

SBarreto@HedgeWorld.com