Riverside Risk Advisors, a New York-based derivatives advisory firm, said today that it has hired Steven Plake to help “broaden its relationship(s) with corporate and public pension plans.”

The reasoning for the new appointment, according to the firm’s April 26 announcement, is to fulfill plan sponsor’s need for advisement as they “increasingly” have been “using derivatives for financial planning purposes.”

On Oct. 13, Joyce Frost and Frank Iacono, former executives at Morgan Stanley, and Chris Frost, formerly of Societe Generale, revealed that they all had linked up to start the firm that offers independent risk assessment, structuring, pricing and execution advice for complex derivative and structured product transactions.

Today, as a result of Plake’s hire, Frost said in her comments that the firm is now “reaching out to pension funds, their consultants and investment managers in a derivatives advisory capacity.” He is expected to lead Riverside’s “pension effort,” Frost said.

Specifically, Plake, formerly of St. Louis-based NISA Investment Advisors, will help “plans in evaluating transactions and assisting in the construction and execution of derivatives strategies, complying with fiduciary duties and working through Dodd-Frank transition issues,” she added

While at NISA, a fixed-income asset manager, the Cornell University graduate was said to have played an “integral role assisting in the development, implementation, and execution of hedging strategies for pension plans,” the announcement listed.

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