Joyce Frost, Frank Iacono and Chris Frost have founded Riverside Risk Advisors. The launch is in response to the soaring demand for independent risk assessment, structuring, pricing and execution advice for complex derivative and structured product transactions.

"The Dodd-Frank Act creates an effective mandate that some end-users seek independent advice for derivative transactions. 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," Iacono states.

Prior to co-founding Riverside, Iacono was formerly an md at Morgan Stanley and ceo of Cournot Financial Products. Joyce Frost has over 25 years' experience in interest rate, currency and credit derivatives, most recently as an md with Morgan Stanley. Chris Frost served as md 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.