Private Markets – Accounting/Finance Market Update (1Q 2020)
Deeper dive into demand for accounting and finance talent in private markets through the first quarter.
Deeper dive into demand for accounting and finance talent in private markets through the first quarter.
Racim Allouani – Global Head of Risk and Portfolio Construction @ KKR
Racim joined KKR in 2015 and oversees the Risk Management and Portfolio Construction efforts across KKR’s Public Credit, Private Credit and Special Situations businesses. Prior to his current role, Mr. Allouani had a similar responsibility in the Hedge Funds business. Prior to joining KKR, he spent five years at the hedge fund of Lombard Odier as a senior quantitative portfolio analyst and risk manager, covering equities and credit strategies.
Prior to that, he was at fund of hedge funds Arden Asset Management in the portfolio optimization and risk management group. Mr. Allouani held previous positions at Deutsche Bank in equity research and Bank West LB in fixed income research. Mr. Allouani earned a M.A. in International Economics from Sciences Po Paris, a M.Sc. in Financial Engineering from Cornell University, as well as a M.Sc and Bachelor’s degree in Applied Mathematics and Computer Science from Ecole Nationale des Ponts Et Chaussees.
Josh Smith – CRO @ Kennedy Lewis Investment Management (former CRO of GSO/Blackstone)
Josh was formerly Chief Risk Officer with GSO Capital (a division of Blackstone) where he worked from 2008 to 2019. At GSO he managed a team of 20 across Dublin and New York and was responsible for leading the firm’s Quantitative Portfolio Analytics, Portfolio Compliance and Risk Management efforts. Prior to GSO, he spent 10 years in technology designing, developing, and implementing financial systems for the corporate and public sectors. From 1994 to 1997 he was a calculus teacher at Delbarton School in New Jersey. Mr. Smith received a BS in Mathematics and Economics from Williams College and a Masters in Financial Engineering from Columbia University in 2008. He is a CFA charterholder.
Mike Jemiolo – CRO @ Point72 Asset Management
Mike joined Point72 after a more than 20-year career in trading and risk management. In his most recent role before Point72, Mr. Jemiolo held senior leadership roles in Risk Management at UBS, including Global Head of Market Risk for UBS Investment Bank and Chief Risk Officer for Global Equities. Previously, Mr. Jemiolo was a trader and portfolio manager of various asset classes including equity derivatives, convertibles, and FX options. Mr. Jemiolo began his career at O’Connor & Associates in 1989.Mr. Jemiolo received his S.B. in Mechanical Engineering from Massachusetts Institute of Technology. He serves on the Board of Directors of the Stamford Family YMCA.
Ahmad Deek - ex CRO & Head of Data Science @ CQS (former CRO of OppenheimerFunds)
Ahmad Deek was most recently the CRO and Head of Data Science for CQS a London based global multi-strat credit focused asset manager with capabilities across convertibles, ABS, credit, loans, structured credit and equities. Prior to joining CQS Ahmad was the CRO of OppenheimerFunds a leading global asset manager that merged with Invesco; he was responsible for leading the firm’s risk management function and further enhancing its corporate governance structure. As a member of the firm's Senior Leadership Team he reported directly to Art Steinmetz, Chairman and CEO of OppenheimerFunds. Prior to joining OppenheimerFunds, Ahmad spent over two decades at Goldman Sachs where he most recently served as Managing Director, Senior Risk Officer in the Investment Management Division. He previously held several roles within their Prime Brokerage, Equities, and Fixed Income Securities Divisions. Ahmad began his career in 1993 at Mentor Graphics as a Development Engineer.
Amy Wierenga - CRO @ GCM Grosvenor
Amy is an MBA from University of Chicago with more than 20 years of experience She recently joined GCM Grosvenor from Blue Mountain Capital Management, where she spent 12 years in a variety of roles, most recently as Partner and Head of Portfolio Construction and Chief Risk Officer.
With GCM Grovsvenors, Amy will be reporting to Fred Pollock the Chief Investment Officer, and be responsible for risk management in support of the firm’s global alternatives investment activities. In this capacity, Ms. Wierenga will oversee risk underwriting on new investments as well as risk associated with portfolio construction, and will contribute to a continued elevation of the firm’s overall risk analytics framework. Ms. Wierenga is also on the firm’s investment committees, which approve investment activity across the hedge fund, credit, private equity, infrastructure and real estate strategies.
Kristen Walters - CRO @ Natixis Investment Managers
Kristen Walters is Chief Risk Officer for Natixis Investment Managers. In this role, she leads the firm’s risk management function, with a focus on evolving its risk monitoring framework and enhancing integration with the firm’s affiliated investment managers.
Ms. Walters has more than 25 years of risk management experience spanning all aspects of the financial industry and capital markets. Prior to joining Natixis in April of 2020, she served as managing director and global chief operating officer at BlackRock for the firm’s Risk and Quantitative Analysis Group. In that role, Ms. Walters oversaw market, counterparty credit, liquidity and enterprise risk on behalf of the firm and fiduciary clients and led strategic risk management technology, analytics and reporting initiatives. She also represented BlackRock as a member of the Commodities Futures Trading Commission’s (CFTC) Market Risk Advisory Committee.
Prior to BlackRock, Ms. Walters was a senior member of the portfolio risk management team at PIMCO reporting to the CIO and CEO. Previously, she led the firm-wide risk team at Goldman Sachs responsible for reporting risk across the trading platform before, during and after the 2008 financial crisis. She held a similar role in market risk at Barclays Capital with a focus on fixed income and structured credit. Ms. Walters started her career in banking supervision and regulation at the Federal Reserve Bank of Boston. She holds a BBA degree in accounting and economics from the University of Massachusetts Amherst and an MBA degree in finance from Babson College.
Massimo Cutuli - Head of Risk @ Citadel Securities
Massimo is the Head of Risk for Citadel Securities, responsible for risk oversight of automated market making and execution Services in Equities and FICC. Massimo was formerly the Global Head of Derivatives Clearing Risk for Goldman Sachs. Prior to that he was an Executive Directors and Global Head of Hedge Fund Risk & Analytics.
Massimo has Masters’ in Ops Research from Columbia and a Masters’ in Aerospace Engineering from Cornell. He began his career as a Financial Engineer/Developer with Bloomberg before joining PWC’s Risk Advisory group.
Stephen Gruppo - ex CRO @ TIAA
Recently retired TIAA Senior Executive Vice President and Chief Risk Officer, member of the firm’s Executive Committee, and former Board member of TIAA subsidiaries Nuveen and TC Life Insurance Company. Steve is the Founder of OysterPond, llc, an advisor to CEOs, executives, and boards. He currently serves as Independent Member of Norinchukin's US Risk Committee, which is Japan's fifth largest bank with assets exceeding $1 Trillion.
At TIAA, Steve played a critical role with Executive Leadership to develop and execute the strategy that transformed the retirement company into a fully diversified financial institution and one of the world's premier asset managers. Drawing on his experience across the financial services industry, he played a pivotal role in managing the firm’s risk as it expanded and modernized its portfolio of products and services to deepen its relationship with existing customers and to attract new clients. Central to these efforts were the acquisitions of EverBank, a major player in digital banking, and Nuveen Investments, a rival asset manager. He was responsible for ensuring TIAA's evolving risk profile was effectively managed through this complex change.
Prior to joining TIAA in 2004, Steve served in a variety of increasingly senior roles in risk management in banking, capital markets and investment management with leading global financial institutions. One of the financial services industry’s foremost risk experts, Steve understands how to develop and deploy robust risk management strategies that support, not constrict, growth. He knows how to effectively apply risk management strategies in rapidly changing environments, marked by increased regulation and continued digital disruption. Steve also brings significant boardroom experience. Steve’s knowledge of financial markets and his track record of strategically managing risk can help companies navigate regulations or strengthen their risk profiles from a financial, operational, technological, or cybersecurity perspective.
Barry Schachter - CRO @ Cinctive Capital
To get a sense for the significance of what Barry Schachter brings to the risk management and the asset management industry take a look at this article from 2010 when the “ Legendary Risk Officer" retired from Moore Capital.
Barry has headed the risk function for a number of hedge funds including Balyasny, SAC, Caxton among others. Barry is a Phd In Economics who began his career in academia before being the Head of of Economic Research for CFTC.
Dmitry Green - CRO @ Mariner Investment Group
Dmitry Green is the Chief Risk Officer of Mariner Investment Group, a New York-based hedge fund founded in 1992. Mariner and its associated advisers have approximately $11 billion in assets under management, covering single and multi-strategy hedge funds and other alternative investment products. Dmitry, serves on the Investment Committee and is involved in all aspects of the investment process, including asset allocation, portfolio construction and hedge management.
Mr. Green earned his Ph.D. in Theoretical Physics from Yale University in 2001 and started his career at McKinsey & Co. as an Engagement Manager. After several years in product development with BlackRock Solutions he joined BlueMountain Capital where he was Head of Risk Management. Prior to Mariner he was MD and CRO of Saba Capital a multi-asset class global hedge fund focused on credit and volatility. His research is currently being used as a key component in Quantum Computing devices.
Adam Katz - CRO @ Paulson & Co.
<pAdam is a Partner and CRO at Paulson & Co., established in 1994, the firm specializes in ‘“blobl merger, event arbitrade and Credit Strategies and was highly publicized for its massively successful bet against the subrpimre mortgage market in 2007. The firm recently announced that it will be returning outside money and become a family office.Paul H. Diouri - Head of Risk - Americas @ Schroders
Strategic, value-driven and hands-on risk executive with extensive experience in front office and risk oversight roles within banking and investment management, both with US-based and European/UK-based firms.
Outstanding track record setting-up and leading best-in class risk management organizations and practices across multiple geographies and regulatory regimes for traditional and alternative asset classes. Highly skilled in change management, systems design and implementation. Solid understanding of US, European and UK banking and investment management regulation.
Underwriting, structuring and portfolio management expertise across a broad range of asset classes, products and markets. Business development and M&A experience including the launch of specialized credit activities, acquisition and integration of investment platforms and strategic partnerships with leading asset managers.
Yuri Mushkin - CRO @ The Beneficient Company Group
Yuri has over 20 years of capital markets experience. In his role as CRO with The Beneficient Company he oversees both financial risk, analytics and non-financial risk, managing a sizable team for a very interesting and lucrative player in the alternative asset management industry. With a background in consulting and sell side banking prior to joining private asset industry , he has some interesting insights based on a diverse experience set. For most of his career Yuri has divided time between London and New York, as the former Co-Head of Traded Risk Services at McKinsey & Company and during his 14+ years with Goldman Sachs in the securities division and firmwide risk.
Hilmar Schaumann - ex CRO @ Fortress/Brevan Howard, ex Global Head of Risk @ BoA
As a former portfolio manager with deep understanding of markets and keen interest in helping drive p&l, I manage risk instead of just administrating it. I engage with the firm’s management, the CIO, and investment teams as a partner and sounding board to construct the optimal portfolio incorporating upcoming macro developments. Perfectly suited for dealing with “dark risks”: basis risks, implicit short volatility exposure, illiquidity, contagion across asset classes, funding drying up; these risks typically cause the largest damage to a portfolio. Traded global fixed income and global corporate credits; risk-managed all asset classes. This macro + credit experience will be key in the years to come as unprecedented central bank and government interventions will cause further market imbalances, inflation risk, and asset class contagion. Highly regarded by the world’s top allocators having been key participant in investor meetings. Comprehensive reporting responsibilities addressing firm’s board, public and private investors, auditors, and regulators. Formed risk teams that became highly impactful regarding governance, monitoring, and supporting the businesses. Previously established several financial products businesses; strong emphasis on building robust infrastructure (legal, technology,...).
Michelle McCarthy Beck - CRO @ Nuveen
Michelle is in charge of monitoring risk management, including investment, operational and valuation risk at Nuveen.
Before joining the firm in 2010, she was the CRO of Russell Investments and chief market and operational risk officer of Washington Mutual Bank.
Michelle graduated with a bachelor’s degree from the University of Washington and a master’s degree in Government from Harvard University. She is a trustee of the Global Association of Risk Professionals and heads the Chicago chapter of that group. She also serves on the board of CFA Society of Chicago and chairs the Chicago chapter of 100 Women in Finance.
Bill Pertusi - ex CRO @ Graham Capital Management
Bill Pertusi is a current member of the Martindale Advisory Committee, a Martindale alumnus, Lehigh University graduate ’83, and a member of the Investment Subcommittee of Lehigh University. Bill is the Chief Risk Officer, Graham Capital Management, L.P. in Norwalk, Connecticut. Bill has his MBA from Harvard Business School and a Master of Science in Mathematics from Fairfield University. Bill is also the member of American Mathematical Society, American Mensa, Mathematical Association of America and the Professional Risk Managers’ International Association.
Tim Schulze - CRO @ Barings
Experienced Chief Risk Officer with multi-year track record of successfully overseeing a highly complex global asset manager with 2,000 employees operating in 36 offices across 17 countries. Demonstrated history of consistent high-quality leadership and execution during periods of significant organizational change and throughout a steadily increasing scope of responsibility as assigned by senior management. Successfully led the re-design and implementation of an enhanced risk management framework to address the expanded complexity of Barings’ new global business model resulting from the integration of four unique asset managers. Significant hands-on experience designing and implementing investment risk frameworks across public and private asset classes. Leverages strong interpersonal skills, deep asset management industry knowledge and a pragmatic mindset to build robust working partnerships with key stakeholders and secure engagement and buy-in on risk management processes. Exceptional ability to succinctly articulate complex risk concepts in an insightful and accessible manner to varying audiences. Highly effective communicator who embraces challenge and change while driving continual process improvement.
David Belmont - Global Head of Alternatives – Risk and Quantitative Analysis @ BlackRock
David is the Global Head of Alternatives Risk at Blackrock where he is responsible for risk management of Blackrock's Alternatives businesses consisting of Hedge Funds, Private Equity, Real Assets, Private Credit, Commodities and Currency funds. Before joining Blackrock, David was Commonfund’s Chief Risk Officer where he risk managed alternative heavy endowment and foundation portfolios. Before joining Commonfund, David was the Global Head of Hedge Fund Credit for UBS Investment Bank responsible for the risk management of hedge fund, private equity and managed fund exposures in the Investment Bank globally. Also at UBS, he was Head of Risk Management - Americas for UBS Prime Brokerage. Prior to UBS, he spent 10 years in Asia and was Head of Risk Management for Temasek Holdings, a Singapore Sovereign Wealth Fund. David is the author of two books on risk management, Value Added Risk Management (Wiley 2004) and Managing Hedge Fund Risk and Financing (Wiley 2011). He graduated from Bowdoin College Cum Laude and received his M.B.A. and Master’s of Science from Yale University. Mr. Belmont is a Chartered Financial Analyst and a lecturer on Risk Management at the Yale School of Management.
Tim Corbett - Chief Risk Officer @ State Street Global Advisors
Tim Corbett, Senior Vice President is the Chief Risk Officer of State Street Global Advisors and a member of the firm's Executive Management Group. Tim leads a global team responsible for managing investment, liquidity, counterparty, model, and operational risks across State Street Global Advisors. Tim's primary objective is to provide independent oversight, and ensure risks are known, quantified, communicated, and prudently managed. He is a member Senior Leadership Team, co-chair of the State Street Global Advisors' Risk Committee, and serves on the Fiduciary and Product Committees.
Prior to assuming his current role in July 2019, Tim was the Global Head of Investment and Liquidity Risk at State Street Global Advisors. Tim has over 23 years of experience, and has held a wide variety of roles within operations, equity research, portfolio management, and risk management at State Street.
Tim holds a BS in Finance from Boston College, an MBA from Bentley University and an MS in Corporate Finance from Bentley. Tim is a New England chapter member of the Global Association of Risk Professionals (GARP), and a member of the GARP Buy Side Risk Managers Forum. Tim is a frequent speaker on a variety of investment and risk topics at industry conferences including Pension Bridge, Risk Minds, Institute of International Finance (IIF), and The Professional Risk Manager's International Association (PRMIA). Tim is also on the Board of Trustees for the NVNA, a top 100 female led nonprofit organization dedicated to hospice care and cancer support.
Joe Burschinger - Senior Managing Director, Chief Risk Officer at Guggenheim Partners
In his role at Guggenheim, Mr. Burschinger proactively manages and advises on potential portfolio risks to best ensure investment objectives are achieved in a disciplined and consistent fashion. He works with portfolio managers to further advance Guggenheim’s capability to identify, measure, monitor, and actively manage all types of potential portfolio risk attributes.
Prior to joining TCW in 2000, Mr. Burschinger spent five years as a Senior Manager in Arthur Andersen’s Financial Services Business Consulting Group in Los Angeles. Earlier in his career, he worked as a supervisor with the Federal Reserve Bank of San Francisco, Los Angeles Branch, and an economic analyst with the U.S. Securities and Exchange Commission.
Mr. Burschinger holds an M.B.A. in International Finance from the University of Southern California’s Marshall School of Business and a B.A. in Economics from Santa Clara University.
Yury Dubrovsky - Chief Risk Officer at Lazard Ltd.
Yury Dubrovsky is a Managing Director, Chief Risk Officer of Lazard Ltd. and Head of Global Risk Management at Lazard Asset Management LLC. He and his global teams are responsible for all aspects of risk management at the bank as well as at its fully owned asset management subsidiary, covering equity and fixed income universes for both traditional as well as alternative investments. In addition, Yury is in charge of the quantitative analysts who provide support to portfolio management teams on portfolio construction issues, execute the initial phase of the research process and provide portfolio attribution analytics. He began working in the investment field in 1994. Prior to joining Lazard in 2005, Yury was Global Head of Market Risk Management for Emerging Markets and G20 Credit Products with Credit Suisse First Boston, Global Head of Exposure Management for Emerging Markets as well as Regional Head of Exposure Management for the Americas with Deutsche Bank AG. Before joining Deutsche Bank in New York in 1995, Yury was associated with JP Morgan & Co., AT&T and Kiev Polytechnic University in quantitative and technological capacities. He has an MBA in Finance from St. John’s University and MS (Hons) in Mechanical Engineering from Kiev Polytechnic University. Yury is a member of the CFA Institute, New York Security Analysts Society, International Association of Financial Engineers, Global Association of Risk Professionals and Professional Risk Management Association.
Yusus Hussain - Head of Risk at Gemini
Mr. Hussain is the Head of Risk for Gemini Trust Company, LLC. Prior to joining Gemini, Mr. Hussain was a Vice President/Executive Director at Goldman Sachs in the Risk division. Prior to that time, Mr. Hussain was a Manager at Ernst & Young in the Risk Advisory practice. Mr. Hussain earned a Bachelor of Science degree from Macaulay Honors College from the City University of New York.