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Desmond is the president of Cobblepot Amalgamated which has major construction and shipping subsidiaries. He inherited the position after the disappearance of Osmund Cobblepot, his uncle.
The Depression has put Desmond in a desperate position, with pressure to merge his shipping company with the Wayne's and slow down in construction orders both putting on the squeeze. He has become quick to anger and erratic of late because of the pressure. His big hope lies in the imminent opening of Cobblepot Towers, in Old Gotham, a luxury business and residential high rise.
While the towers are being built, Desmond has avoided the ancestral (and frankly decrepit) Cobblepot House in the East End, and lives in a fashionable apartment in the Diamond District.