London due diligence firm carries on with in-person ODD

Lockdown aside, Quentin Thom and the perfORM Due Diligence Services team can still be seen on London’s streets, often on their bikes.

Just this past week Thom reports performing an investment manager onsite meeting with an undisclosed firm on behalf of a growing number of overseas clients that are seeking outside help in conducting on-site due diligence.

The team arrived by bicycle, wore masks, were temperature-checked on arrival, regularly hand sanitized, and spent the day in a socially distanced board room with widows open throughout the meeting.

According to Thom, he has two more onsite visits scheduled for the week of November 16.

“We will be doing on-sites if and when requested, in close co-operation with managers and if done safely,” he added.

Back in August, the team began to gain attention as it performed its first onsite during the pandemic.

On a sunny summer day last month in London, a newish due diligence firm founded by two industry vets conducted what they believe to be the first on-site operational due diligence visit since the pandemic began.

Thom and James Newman founded their own business in late 2019 after serving as Deutsche Bank’s EU head of prime brokerage hedge fund consulting and Barclays Wealth global head of ODD, respectively.

“We see operational due diligence as operational risk mitigation,” said Thom, who sees his firm offering a geographic advantage in providing third-party ODD for firms in the U.S. that are now unable to travel due to the coronavirus.

And despite bars and pubs being closed, the ODD bike team rolls on.

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