I am a senior finance professional with over 17 years of experience in fixed income and foreign exchange structuring, sales, and client advisory businesses. I have built a strong reputation for helping clients find quantitative based solutions to difficult risk management problems. I have a history of building new businesses: I have built 2 structured note platforms in foreign exchange, a pension and endowment coverage business, and most recently a foreign exchange client risk advisory business. As the North American head of Credit Suisse’s Client Risk Advisory business, I authored several innovative research pieces around event driven positioning, volatility regimes, and tail risk hedging. I have helped some of Credit Suisse’s largest money manager clients develop solutions for third party restricted currency delivery, undertake sophisticated transaction cost analyses, implement currency share class hedging programs, and explore hedge optimization techniques. I developed a suite of analytics that helped Credit Suissse’s active hedge fund clients identify relative value in the foreign exchange options markets. I am extremely active with Carnegie Mellon University recruiting both at the graduate and undergraduate levels and was the team leader for the Passionate Alumni Program at Credit Suisse. I travel to the school frequently and have guest lectured at the Tepper School of Business.
The title of this site is a reference to modern statistics origins at the Guiness factory in Dublin, Ireland. In particular, the work of William Sealy Gosset, whose pen name “Student” is famous in the literature. And of course my love of the beautiful brown liquid they produce. For those intereseted in the history of statistics and its influence on modern science, I highly recommend David Salsburg’s book The Lady Tasting Tea.
Derivatives · New product development · Sustainable Cost Reduction · Programming · Research · Data Visualization · Risk-management · Foreign Exchange · Fixed Income Derivatives
Director, Global Currencies and Emerging Market Client Risk Advisory Group (July 2012–Present) Oversee the GCEM Client Risk Advisory business in North America. The GCEM Client Risk Advisory Group operates along a number of different advisory stripes including:
Director, GFX Sales (Aug 2010–July 2012) FX sales covering quantitative accounts that traded primarily in options. Primary focus was to bring my existing relationships to Credit Suisse where no prior engagement existed. Also took over management of relationships where Credit Suisse was under-penetrated.
Executive Director, Global Currencies and Commodities Group (2009–May 2010) Co-developed and built the Endowment and Foundation business for currencies, interest rates, and credit derivatives. Advised endowment and foundation clients on hedging practices, liquidity enhancement, and hedge fund replication. Provided senior oversight for the JPMorgan Private Bank relationship.
Vice President, Global Currencies and Commodities Group (2005–2009) Oversaw the structured investments business for currencies in New York. Delivered the entire foreign exchange platform to the JP Morgan Private Bank, including electronic trading, OTC derivatives, and structured investments. Served as senior product specialist and structurer for the New York based sales teams. Responsible for new product development, testing, and deployment.
Vice President, Single Name Credit Hybrids (2004–2005) Developed and marketed a new product for single name credit hybrids. Established infrastructure necessary to support the new trading business.
Vice President, Fixed Income Derivative Marketing (2001-2004) Associate, Fixed Income Derivative Marketing (1999-2001) Covered hedge funds, real money management firms and mortgage servicers for relative value trading across all US fixed income markets. Assisted clients with assessing their interest rate risk and applied the appropriate derivative hedges to mitigate interest rate exposure. Issued structured notes to JP Morgan’s investor clients.
Created, programmed, and maintained a volatility model for fixed income which, for the first time, allowed internal JP Morgan marketers to see a visual representation of the interest rate swap and swap options markets.
Rolled out model to all of the fixed income sales forces and supported new releases for the tool. Model was eventually adopted as a corporate standard and is now officially maintained by the quantitative strategies and IT teams at JP Morgan.
Developed and published pioneer derivatives daily newsletter called the “Duncan Daily”, which was maintained for 2.5 years. Publication was well subscribed and reached well over 1,000 internal and external clients on a daily basis.
Became an expert in relative value trading in interest rate derivatives using statistical methods and regression techniques to analyze trades for hedge funds.
Introduced a treasury client survey to assess client fixed income positions, still in use by JPM fixed income research today.
Liaised with internal research group to ensure adoption of daily research reports by clients resulting in a dramatic increase in relative value trading.
Promoted to Vice President in less than 18 months.
Asset and Liability Trader Traded the derivative book used for managing interest rate exposures for PNC’s asset and liability positions. Traded a variety of liability positions for the bank including the overnight and medium term note positions.
Carnegie Mellon University, Tepper School of Business, Pittsburgh, PA 1997-1999 Master of Science in Industrial Administration (MSIA), Finance
Carnegie Mellon University, Pittsburgh, PA 1988- 1992 Bachelor of Science (BS), Information and Decision Systems
Competitive running, data visualization, statistics, programming
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