Derivative Consultancy Formed in New York

Joyce Frost and Frank Iacono, former executives with Morgan Stanley, along with Chris Frost, former Managing Director at Societe Generale, have formed Riverside Risk Advisors LLC.

A news release said the New York company’s formation is in response to demand for independent risk assessment, structuring, pricing and execution advice for complex derivative and structured product transactions.

The company said Riverside’s clients include derivative end-users such as corporations, private equity firms, real estate developers, and project sponsors.  Riverside also advises investors evaluating structured credit opportunities and financial firms winding down or restructuring legacy businesses.

“The Dodd-Frank Act creates an effective mandate that some end-users seek independent advice for derivative transactions,” said Iacono, in the news release. “We expect, however, that even where a statutory or regulatory requirement is not created, outside advice with respect to suitability and fairness, from professionals with relevant transaction experience, will become the new best-practices standard.”

Prior to co-founding Riverside, Chris Frost served as Managing Director at Societe Generale in New York where he ran the corporate interest rate derivatives and foreign exchange sales business for the Americas for fourteen years.  Iacono was formerly a Managing Director at Morgan Stanley and CEO of Cournot Financial Products LLC, a AAA-rated Credit Derivatives Product Company sponsored by Morgan Stanley.  Joyce Frost has over 25 years experience in interest rate, currency and credit derivatives, most recently with Morgan Stanley, but also including senior positions at Chase Manhattan Bank and Sumitomo Bank Capital Markets.