Our team brings together complementary experience across derivatives markets, risk management, and post-crisis regulatory frameworks, combining perspectives from both the buy-side and sell-side. Collectively, we have:
- Managed and priced large derivatives portfolios within major financial institutions
- Built infrastructure for counterparty risk, funding, and capital management
- Worked with clients, trading desks, and regulators on margining, clearing, and capital frameworks
We have been directly involved in:
- The evolution of collateralised trading and CSA frameworks
- The integration of CVA, FVA, and KVA into pricing
- The implementation of clearing, margin, and capital rules
This allows us to:
- Connect pricing, capital, and collateral dynamics
- Bridge front-office decisions with risk and operational realities
- Deliver solutions that are practical and executable
- Highly experienced financial markets practitioner, managed a $100bn balance sheet business from trading and positioning, through technology stack, legal frameworks, and hedge accounting. 9-figure P&L track record.
- Views markets as iterated repeated games, which therefore creates positive sum dynamics.
Extensive hands-on experience in counterparty credit risk and valuation adjustment methodologies, including CVA and FVA. - Experience managing trading desks, and working hand-in-glove with quantitative teams and risk functions to embed XVA into pricing, risk management and portfolio optimisation.
Deep practical understanding of OTC & ETD derivatives across rates & FX. - Significant experience with model development, validation, governance and regulatory engagement.
- Proven ability to translate complex quantitative concepts into robust, implementable frameworks within large banking environments.
Well regarded for rigorous analysis, sound judgement and pragmatic delivery in high-stakes risk settings. - Initialised & led (re)negotiations of CSAs, brokerage / give-ups, terms of business, through to pricing and vendor agreements.
Actively engaged in policy fora especially concerning the positive evolution of market structure with a particular focus on end-users: ECB FXCG, RFR transition working groups at the BoE & Fed / ARRC, ISDA, ICMA / AMIC, AFME, etc.
- Highly experienced derivatives risk executive with deep expertise across trading, valuation and risk management of large, complex derivatives portfolios.
- Recognised industry specialist in counterparty credit risk and XVA (CVA, FVA, KVA), with hands-on experience building and scaling front-office capabilities to price, manage and optimise contingent risks across the largest derivatives franchise.
- Led the re-engineering of JPMorgan's derivatives businesses in response to post-crisis market and regulatory change, including capital, liquidity, margining and clearing reforms.
- Former Global Head of Risk & Capital at JPMorgan for the Clearing businesses (OTC clearing, futures & options, and FX prime brokerage).
- Lead negotiator on complex collateral and pricing discussions, including large-scale CSA negotiations with supranationals, sovereigns, financial institutions and major corporates.
- Active contributor to market structure evolution through participation in International Swaps and Derivatives Association, Futures Industry Association and CCP Risk Committees (Eurex, ICE).
Experienced Fixed Income Derivative Professional
- Covered Supranationals
- Frequent borrowers
- Fixed Income specilaist
