Alan Picone

Alan Picone Picone

Managing Director at Duff & Phelps Corp

7 ALBEMARLE STREET, London, Greater London, United Kingdom
Wrong Alan Picone?

last updated 12/20/2017

General Information


MD  - 


Managing Director  - Duff & Phelps Corp

Global Head of Solutions  - Risk & Management Company

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Alan Picone is a managing director at Duff & Phelps.
Alan Picone Managing Director +352 26 10 88 06 31

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Alan Picone is a managing director at Duff & Phelps.
Alan Picone Managing Director +352 26 10 88 06 31

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asks Alan Picone, Managing Director at Duff & Phelps; the firm's authorised third party management company, one of the first firms to obtain a third party AIFM license in Luxembourg, now serves AIFM and UCITS clients across all jurisdictions and asset classes around the globe.
As part of the panel, Picone went on to explain that the next important factor is judging one's operational robustness. The initial costs pay off as the fund evolves," adds Picone. "One of the key factors that will influence the decision making process will inevitably be the extent to which controls can be performed on the ground," says Picone. "The experience that we, at Duff & Phelps, have as a management company is that it is, in effect, a case of operational risk management mitigation; that's what you are getting when you go down the outsourced route," explains Picone. Interestingly enough, that is the one risk where you have the least impact (on control) as a fund manager based in the UK for example who might be using Luxembourg-based service providers as part of an outsourced solution," says Picone. When the manager has that in place, they end up with an operational risk matrix and, says Picone, is a key aspect of what Duff & Phelps' management company team does. In my opinion, that's the key challenge for any fund manager to consider when thinking about the best AIFM operating model," opines Picone. Asserts Picone, "Asset managers should look at a phased approach and to use a third party ManCo as an interim solution. My view is that while you cannot - and should not - simply wash your hands clean of the AIFMD, you should at some stage in the future envisage becoming your own AIFM. Clearly, given the complexity and intricacies of operating a management company, it's certainly a good strategy, early on, to allocate that role to a third party ManCo. They can share the necessary knowledge and experience, the main regulatory and operational risks, which will help the fund manager get up to speed with AIFMD. "We work hand in hand with clients to help them develop their own AIFM," continues Picone.

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