DPM appoints chief financial officer and assistant controller

New Jersey-based Derivatives Portfolio Management (DPM), which provides data-gathering, risk analysis and reporting services to financial institutions, has appointed Steve Mandell as chief financial officer and Judy Yellin as assistant controller, both newly created positions.

DPM created the positions as part of an overall expansion of the company, which has benefited from the growth of the alternative asset market. “As the company is expanding and growing, they decided now was the time to increase the staff and experience on the financial side,” a spokesman said.

Mandell was previously managing director and product manager of tax and derivatives functionality at US-based Princeton Financial Systems. Prior to that, he worked as vice-president in the capital markets group operations at Chemical Bank – now part of JP Morgan Chase. “I am excited and looking forward to the growth opportunities,” Mandell said.

Yellin was previously senior director at ADP/OMR, the treasury services unit of New Jersey-based data-processing company ADP.

DPM said last month that it plans to open an office in the Bahamas due to changes in the Bahamas banking regulatory system and client demand. The company also received $4 million in venture funding in early May. According to DPM, the proceeds of the offering were earmarked for the development of an international sales and marketing team.