A&M expands to Europe

• Professional services firm Alvarez & Marsal started a valuation practice in Europe. Based in London, the firm’s EU valuation team will be spearheaded by Kleon Phili, who prior to the appointment served as head of financial advisory services at Duff & Phelps for the past three years. Part of his mandate will be to expand A&M’s valuation services to other “key European geographies”, according to a firm statement.

• After more than eight years, Suzanne West is parting ways with Park Madison Partners, the New York-based capital raising and advisory firm that she launched with fellow founding partner Nancy Lashine, pfm has learned. She will be leaving the placement agent business and taking on a capital formation and investment position with Los Angeles-based AVP Advisors, a private real estate investment firm that advises institutional investors seeking access to emerging managers.

• German lender Deutsche Bank’s asset management arm appointed former HarbourVest principal Claudio Siniscalco as global co-head of co-investments, a newly created role. Also joining the German lender’s “Asset & Wealth Management” unit is Jason Sambanju, who will focus on Asia secondaries under a second newly created role. He was previously with secondaries-focused private equity firm Paul Capital.

• Industry software services provider eFront released the latest version of its “FrontGP” reporting software. FrontGP 5.3 added Mandarin to the list of supported languages; allows for the modelling of projected cash flow scenarios and lets GPs track balances and financial reports at the investor level.

• The Parthenon Group, a strategic advisor for business executives, agreed to combine its worldwide operations with audit and accounting firm EY. No financial terms were disclosed. The combined business will fall under EY's transaction advisory services, which will operate under the Parthenon brand, and be led by Parthenon chairman and managing partner Bill Achtmeyer.

• Cordium, a compliance, accounting, and tax advisory firm, launched the Cordium Total AIFM Solution. The service offers fund management services to third-party funds and acts as an outsourced management entity under the Alternative Investment Fund Managers Directive (AIFMD).

• Societe Generale Securities Services (SGSS), a Paris-based custody provider, appointed former JP Morgan executive David Painter as head of trustee and depositary services in the UK. Based in London, he reports to Bertrand Blanchard, SGSS’ country manager in the UK, and to Michèle Besse, global head of depositary control.

• A spate of fund administrators and other industry service providers have been approved by the UK’s Financial Conduct Authority (FCA) to provide trustee and depositary services to funds under the AIFMD. Such firms include: BNY Mellon, Augentius, SS&C, Alter Domus and Heritage Depositary.

• Accounting, tax, and advisory services firm Citrin Cooperman hired Sylvie Gadant as a partner. Gadant, who joins from Rothstein Kass, will work closely with the firm’s private equity team and numerous industry groups to lead the transaction advisory services practice, according to a statement.

• Abacus Group, an IT provider for private funds, hired Jonathan Bohrer as chief financial officer. He was previously with brokerage firm ConvergEx Group.