Our history
2011: Continued Expansion
In 2011, d-fine has kept growing by focusing on consultancy projects in the areas of risk and finance.
Various factors have prompted a multitude of projects: tightened regulatory guidelines, more complex regulations in accountancy, pressure on the IT infrastructure, and cost reducing procedures. Particularly successful Senior Managers in this field were Nadine Gottschalk, Christoph Belafi and Dr Mathias Presber who have consequently joined d-fine’s partnership.
In order to best serve the increased demand in Swiss business, several managers have relocated to our Zurich office under the management of the new Director, Dr Mathias Presber.
2010: Regional Expansion to Switzerland
The year 2010 is marked by two very different halves. While the impact of the crisis slowly faded in the first six months, a rapidly increasing willingness to invest in the market is evident in the second half. After nearly two years of standstill, postponed infrastructure operations are started and more projects targeting method optimisation and remodelling core businesses get the go ahead.
As a result of increased business activity in Switzerland d-fine AG in Zurich was founded, so that our customers will be even better served now in this important market.
To the end of the fiscal year, 30th June, Dr. Hans-Peter Deutsch, one of the four founding partners, retired from active professional life and has, therefore, left d-fine’s executive management. Furthermore, as of 1st July Dr Christian Bormann joined after many years of successful work at d-fine the partnership and was appointed managing director. Christian Bormann is responsible for the customer segment Asset Manager. This extension of the partnership is another sign of the positive outlook for further business development.
2009: d-fine defies the crisis
The year 2009 has again been dominated by the global economic and financial crisis. Despite, or perhaps because of the difficult market environment, it has been possible for d-fine to expand its market position further, particularly in Germany, Austria and Switzerland.
The further growth of d-fine is also reflected in the addition of three new partners. As well as the banking expert Dr Jörn Rank, who has already worked successfully for many years as a manager at d-fine, Dr Arndt Dombert and Dr Christoph Burmester will strengthen the partnership with their focus on strategy consulting for banks and insurers. The move of the two former Roland Berger partners to d-fine's partnership demonstrates the changing expectations of customers. To achieve successful and sustainable projects in the risk area, d-fine must satisfy clients' demands for the entire value chain, from risk strategy on to technical concept through to professional implementation. The two new partners will provide d-fine with an important reinforcement in its integrated consultancy approach, aiding further expansion.
2008: Core competence in "Risk Mangement"
No other topic has dominated conversation in the financial world since the beginning of the financial crisis in July 2007 and the turbulence on the commodity markets like the issue of "adequate" risk management. But what is adequate for an international major bank, a specialised niche institution and global player in industry? With more than 250 experts, d-fine has established itself as a competent point of contact for its clients in this field.
A further trend in 2008 is d-fine's enhanced support services for insurance companies in anticipation of Solvency II. Adequate risk management is also a central issue here.
d-fine's company management has been strengthened by the addition of two new partners: Dr. Christoph Bennemann and Dr. Andreas Werner , both deserving managers appointed to the Management.
Dr. Bennemann specialises in advisory services on the capital market, in particular in setting up state-of-the-art trading systems.
Dr. Werner is an expert in all issues relating to the management and control of market risks and implementing regulatory requirements in this environment.
2007: Geographical Expansion
2007 produces outstanding growth. The total number of employees rises to more than 200. Management of the business is also enlarged to reflect this order of magnitude, by taking on three new partners: Dr. Mark Beinker, Dr. Gernot Blum und Dr. Christoph Schneggenburger are the worthy d-fine managers who have been taken into the partnership. Dr. Beinker's work focuses on the valuation of complex financial products. Dr. Blum is an expert on all questions in the area of accounting and regulatory compliance. The focus of Dr. Schneggenburger is in the area of capital markets, in particular the building up of state-of-the-art trading systems.
Geographical expansion also continues in 2007: Our Hong Kong office is opened, in order to offer strengthened service facilities to this growth region in the future.
2006: Enlargement of the Partnership
In 2006, unimpeded growth continues. Two noteworthy effects permit the growth of the business, which had in the meantime grown to 150 consultants, to become externally visible. Firstly, the partnership is extended to include the long term manager Dr. Bernd Appasamy. Dr. Appasamy is the expert for all questions in the area of credit risk management and economic capital management.
Secondly, an office is opened in Munich to strengthen our business in this economic area. The office services as a place of refuge for our countless employees who live in this region and is concerned with improved care of our customers in the south German region.
2005: Cementing a leading position
Now employing more than 130 consultants, the firm cements its position as one of the leading consultancies for quantitative and technically complex projects. d-fine appears for the first time in the prestigious "Lünendonk List" among the top 25 management consulting firms in Germany. d-fine also delivers projects in the Asian market, from the second quarter of the year.
2004: New geographies and new products
d-fine moves into its new headquarters in Frankfurt. The new premises offer staff - now totalling around 110 - the infrastructure they need to perform the preparatory and supplementary work associated with their project activities at client sites. A conference room for training events and presentations, as well as a "risk lab" equipped with the production releases of the leading trading and risk management systems, complete the new office site.
d-fine goes to London to provide our clients with optimal support in international projects and to meet the local demands of the UK market, d-fine Ltd opens as a subsidiary in London. The first projects handled by the London office focus on Basel II compliance, the development of risk quantification methodologies, and the implementation of trading and risk management systems. Hedge funds, which have yet to make a breakthrough in Germany, are added as a new client group.
2003: Enhancing our market position
Projects for major industrial companies now account for a significant proportion of d-fine's business. These projects focus on implementing global treasury systems for liquidity planning, timely risk control for currency, interest-rate and commodities positions and improved process efficiency, both in a horizontal (cash management) and vertical sense (STP).
The client base expands to include more than 50 companies. The broad spectrum of services on offer, from the development and validation of rating systems for Basel II, the implementation of IAS 39, the selection and roll-out of trading, treasury and risk management systems and the provision of support for quantitative issues (e.g. the introduction of new products or the independent valuation of derivatives portfolios), mean that the company is working at full capacity.
2002: The incorporation of d-fine
d-fine GmbH is founded on 1 July 2002 by its four managing directors - Dr Hans-Peter Deutsch, Wolfgang Pleyer, Dr Egbert Schark and Markus von Rothkirch. A total of 100 experienced employees move from Arthur Andersen to the company, creating one of Germany's largest consulting firms: d-fine - a specialist in quantitative analysis and risk management for both financial and industrial clients.
Our first pieces of work as a stand-alone firm include projects in such general areas as the implementation of Basel II, the development of internal rating models and the consolidation of system environments in trading and risk management.
1996 - 2001: d-fine's prehistory: the Financial & Commodity Risk Consulting practice of Arthur Andersen
The services offered by d-fine stem from those of Arthur Andersen's Financial & Commodity Risk Consulting (FCRC) group. They cover all aspects of risk-and-return management projects, from their conceptual design through quantitative analysis and modeling to their practical implementation as software.
Regulatory incentives to encourage the use of internal value at risk (VaR) models provide the initial spark for the creation of FCRC in the mid-1990s. In addition to issues such as market risk, derivative and portfolio valuation and trading systems, projects focusing on controlling credit risks and asset and liability management gain ground rapidly.
After six years of organic growth, FCRC becomes a separate company to achieve the necessary division of the audit and consulting businesses. d-fine GmbH launches on 1 July 2002 and all 100 consultants of the former FCRC transfer to the new entity with the aim of continuing to build on what was achieved over the preceding six years.
