Worried about due diligence in a post-Madoff world? David Fisher may be your best defense. This former U.S. Secret Service agent spent a significant portion of his 24-year career protecting U.S. presidents and vice presidents, their families and other dignitaries. But Mr. Fisher also gained experience as a financial fraud investigator, which was part of the Secret Services mission as the law enforcement arm of the U.S. Treasury Department until it was moved into the Department of Homeland Security in 2003.
Mr. Fisher joined managed futures research and investment company AlphaMetrix LLC, Chicago, in November to develop AlphaMetrix Financial Investigations LLC, which opened last month. The new due diligence group does comprehensive background checks on the more than 1,000 managed futures trading managers and their companies that AlphaMetrix tracks for its investment program. Now that service also is being offered to outside clients, including institutional investors and banks. Part of the due diligence includes in-depth analysis of the operational risks of managed futures trading companies.
Mr. Fisher said in an interview he is using his wide network of contacts throughout the corporate and law enforcement worlds to assist in his investigations as a civilian. The difference in his work life these days, he noted wryly, is that as a law enforcement officer, when I asked a question, people were obligated to answer me or end up in front of a grand jury. It wasnt optional.