Alfred Mukunya Senior Managing Director PFM Asset Management

Alfred Mukunya leads the swap monitoring and valuation team for PFM, the leading financial advisor in the nation to municipalities and the tax-exempt market. He led the design and development of PFM’s web based platform for swaps monitoring, tracking and reporting. Prior to PFM, he was a partner and head of the Structured Finance team at a leading taxable derivatives advisor in the nation. As one of the founding consultants, he created and led the team that developed and implemented derivatives trading, pricing and analytic tools for the company. The platform provided web-enabled monitoring and reporting of derivative contracts for GAAP and FAS133 purposes for hundreds of private and public clients, as well as serving client banks with the capacity to trade, execute and monitor derivative contracts between the client bank and their customers.

Doug Engmann Senior EVP, Managing Director of Equities Newedge USA

Doug Engmann is the Managing Director of Equities for Newedge USA, created from the merger of Fimat and Calyon Financial earlier this year. Doug is a former options market maker, Chairman of the Pacific Stock Exchange, and Director of the Options Clearing Corporation and a leader in the US listed options industry. He was the co-founder of Sage Clearing Corporation, a leading options market maker clearing firm and Preferred Trade, an options and equities broker who pioneered options DMA and smart order routing in the early 1990s. Doug recently has been the industry spokesperson and leader in the implementation of portfolio margining for the options industry.

Jayesh Bhansali Head of Derivatives Strategies and Trading TIAA-CREF

In Jayesh’s role he oversees and manages all derivative overlay activities including interest rate, currency, credit, and equity derivatives. He is also responsible for asset liability management for TIAA Global Markets, Inc., a wholly owned spread arbitrage subsidiary of TIAA. He joined TIAA-CREF in July 1996.

Prior to joining TIAA-CREF, Mr. Bhansali worked with Citicorp’s Analytics & Information Technology Solutions Group as a derivatives specialist. Before that, he worked in investment banking with ICICI (formerly Industrial Credit and Investment Corporation of India). He has more than 20 years of investment-related experience.

Mr. Bhansali has published articles in professional journals on wide ranging topics such as credit derivatives, interest rate and emerging markets equity risk management, and inflation-indexed bonds. He has also contributed to the Counterparty Risk Management Policy Group’s report titled “Toward Greater Financial Stability: A Private Sector Perspective.” He has taught at the Columbia Business School as an adjunct professor of finance.

Jeremy Evnine CEO and Director of Investments Evnine & Associates

Jeremy is currently CEO of Evnine & Associates, Inc., an SEC registered Investment Advisory firm engaged in quantitative strategies since 1992. From 1991 to 2003, Jeremy was also a partner in Iris Financial Engineering and Systems, a financial software firm specializing in providing high-end trading and risk systems to top-tier investment banks. He sold his interest in Iris in 2003.

From 1984-1990, Jeremy was SVP in charge of research at WFIA (now Barclays Global Investors). In this capacity, he worked with such people as Fischer Black and Myron Scholes, Bill Sharpe, and Michael Brennan and Eduardo Schwartz.

From 1980-1984, Jeremy was a consultant at Barra, where he developed the firm’s option products.

Jeremy earned his B.Sc. in Mathematics at Manchester University in England, his M.Sc. in Pure Mathematics at the Hebrew University of Jerusalem, and his Ph.D. in Operations Research and Finance at U.C. Berkeley. He has taught courses in finance at U.C. Berkeley, published articles in the financial literature on option pricing and tactical asset allocation, and lectured in the United States and abroad.

John Barun President Capital Markets Consulting

John Barun founded Capital Markets Consulting in 1996 and is currently the President and Chief Executive Officer. He has worked in the financial industry for 16 years focusing on the development of electronic trading and trading related systems.

John’s background allowed him to play a significant role in a broad range of industry initiatives ranging from the production of the Chicago Mercantile Exchange first fully electronic trading “mini” contract to the development of a wireless handheld trading system deployed on the trading floors of the American Stock Exchange, Philadelphia Stock Exchange, Chicago Board Options Exchange and the Pacific Stock Exchange. His in-depth experience also allowed him the opportunity to operate as acting CIO during a US Futures Exchange start up period. He was responsible for directing, managing and coordinating the efforts for the development of the exchanges match engine and trading interface. He worked directly with the Commodity Futures Trading Commission in this role to gain their technology approval. Mr. Barun has also acted as a subcommittee advisor to the CFTC’s Technology Advisory Committee.

John is a member of the Futures Industry Association. He lives in Chicago with his wife and three kids.

John DiBacco Head of US Derivative Trading UBS

Mr. DiBacco is a Managing Director and Head of US Derivatives Trading at UBS Investment Bank. He has been with the Bank since 1998 during which time he has held a variety of different positions. Prior to his current role he was Head of US Convertible Bond Trading and previous to that he was Head of US Program and ETF Trading. Currently, Mr. DiBacco serves on the American Equities Business Committee, the US Traders Committee and is a member of the Derivatives Global Managing Board.

John Jay Senior Analyst The Aite Group

John Jay is a senior analyst at Aite Group, LLC. He specializes in fixed-income-structured products and technological applications involved in the structured products space. Mr. Jay began his career in foreign exchange, later moving on to using derivatives to hedge bank assets and liabilities. Prior to joining Aite Group, he was a principal with American Capital Strategies, Ltd., where he was responsible for analyzing and recommending distressed subprime RMBS bonds for investment. CDO financing and construction were also within John's purview. Previously, he was a senior portfolio manager with State Street Bank and Trust, where he managed portfolios of structured products, sovereign debt, and U.S. Treasuries/Agencies. He also implemented State Street's investment portfolio risk reporting system.

John Peter Lee Chief Technology Officer AM Investment Partners

John Peter Lee is Head of Software Development and Technology Infrastructure Design at AM Investment Partners, LLC. He worked as Senior Director of Technology at Monster Worldwide, and was Chief Technology Officer and original member of IN2, Inc. where he held four U.S. patents related to the IN2’s flagship product. He was a founder of Firewall Media, Inc., a database integration company. He holds a dual Bachelor of Science degree in Electrical Computer Engineering and Computer Science from Carnegie Mellon University.

Joseph Masri Head of Investment Risk Management Barclays Global Investors

Joseph’s team is responsible for independent risk monitoring and reporting, risk analytics and model validation, country risk, and liquidity risk management. Prior to joining BGI, Joseph spent ten years in senior risk management positions at ABN AMRO, JPMorgan Chase and UBS. He holds a PhD in Engineering Economic Systems from Stanford University and an Engineering Diploma from Ecole Centrale de Paris.

Josh Levy has over 18 years of FX-specific experience and has served as an institutional foreign-exchange trader at Goldman Sachs (NYSE: GS) in New York & Tokyo and as Managing Director of the FX Trading division of the SunGard STN Transaction Network (NYSE: SDS). Prior to founding Tactical Asset Management, Mr. Levy co-founded the innovative FX ECN MatchbookFX and was the President of CMC Markets USA which is the world's largest internet dealer in eFX and other derivatives.

As a Forex veteran, pioneer in the field of FX e-Trading and highly-regarded expert in the Financial markets, Mr. Levy has been featured in numerous publications and media outlets including the Washington Post, CNBC, Marketwatch.com, USA Today, MSNBC, the International Herald Tribune, and The Wall St Journal for his perspective on the FX markets and e-FX trading.

Karsten Schroeder is the CEO of Amplitude Capital and the portfolio manager for the Amplitude fund. He oversees all the key decisions related to product development, trading ideas and strategy for the Amplitude’s range of funds. He had been working on the development of the system for five years until he founded Amplitude Capital in September 2004. Karsten was with McKinsey where he was involved in a number of key Corporate Finance projects involving blue chip European clients. Karsten finished his pre diploma in Computer Science and Business at the European Business School from 1997-99. He finished his diploma in Business administration at the HHL and this included an international year out at the Australian Graduate School of Management. Karsten has a private pilot license and loves flying.

Kenneth J. Armstead is a Partner of APM and CIO of Trading. From April 1998 to December 2002, he served as trading advisor for HGC as an affiliated person of Nikko Securities Co. International, Inc. Nikko managed $5 billion in a variety of guaranteed products. Mr. Armstead’s responsibilities included designing and managing long volatility solutions for market neutral fund of funds. He assisted Andrew Weisman with the oversight of the Nikko NK New Direction fund of funds and ultimately became the portfolio manager for
NK New Direction.

From October 1996 to November 1997 Mr. Armstead was Vice President, Structured Products Research and Development, of Yamaichi International (America), Inc. He served as the Trading Advisor responsible for the implementation of proprietary quantitative investment strategies in the global fixed-income and commodity markets. From June 1995 to September 1996, Mr. Armstead served as Vice President and Director of Research for Kenmar Advisory Group, a CPO, and was responsible for the portfolio performance and risk analysis to support the allocation of funds under management by Kenmar.

Mr. Armstead has been professionally involved in the trading and analysis of global fixed income products, including cash, futures and related derivatives since 1985. From October 1994 to May 1995, Mr. Armstead engaged in the requisite regulatory and legal start-up activities associated with the establishment of a sole proprietorship, Market Intermarket Trading, as a CTA and seeking qualified investors to allocate capital for its Managed Account Program.

From January 1991 to September 1994, Mr. Armstead was employed by Commodities Corporation (USA), a CPO, as an Associate. He was responsible for the research, development and trading of empirical methodologies for a diverse group of financial and non-financial commodities.

Citicorp employed Mr. Armstead from September 1982 to December 1990 where he held a variety of positions. From March 1990 to December 1990, Mr. Armstead was Vice President in Portfolio Strategy, developing proprietary multi-market quantitative trading strategies for cash and derivatives in global fixed income, currency and metals markets. From September 1985 to February 1990, Mr. Armstead served as Vice President in Currency Risk Management, and was responsible for positioning and market making activities in non-dollar fixed income derivatives, both interest rate swaps and long-term forwards.

Additionally he developed models for measuring risk and hedging interest rates and currency exposures. From September 1982 to September 1985, Mr. Armstead was an equity analyst to Investment Management, where he conducted research on global stocks of electrical and electronic equipment manufacturers.

Mr. Armstead received a Bachelor of Science degree in Mechanical Engineering and a Masters of Science degree in Nuclear Engineering, both from the Massachusetts Institute of Technology in 1978. Mr. Armstead received his MS degree in Management with concentrations in finance and applied economics from the Sloan School at the Massachusetts Institute of Technology in 1982.

Mohammed Riad Chief Derivatives Strategist, Senior Portfolio Manager Fiduciary Asset Management

Mr. Riad joined FAMCO in 1999 and has 13 years of investment industry experience. He is a member of the portfolio management team and serves as senior portfolio manager for FAMCO’s institutional and hedged large-cap equity strategies, as well as closed-end and open-end funds. Additionally, Mr. Riad has been instrumental in the development of industry leading large scale derivatives strategies. He is actively involved with the Strategy Committee’s macroeconomic assessment and top-down approach to portfolio management. Prior to joining FAMCO, Mr. Riad worked in management for six years at Legg Mason Wood Walker in the Washington D.C. and New York offices. Mr. Riad holds a B.S. in business from Wake Forest University and an M.B.A. from Washington University in St. Louis.

Philip Gocke Managing Director Options Industry Council

Since 2005, Mr. Gocke has been the Managing Director for institutional education and research for Options Industry Council.  The OIC is a non-profit industry association that is sponsored by the U.S. options exchanges and the Options Clearing Corporation, and is dedicated to options education.  Mr. Gocke is also President of the options trading firm, Brite Sky LLC.  Previously Mr. Gocke had positions of CEO of VDM Options LLC, Managing Partner at Tague Securities Corp., Chief Financial Markets Advisor at BOA and Senior Trader at FRBNY.  Mr. Gocke received a BA in Economics from Lafayette College and MBA from NYU.

Randy Durie Principal Plimsoll Capital

Mr. DuRie is the principal of Plimsoll Capital and the portfolio manager of Plimsoll’s Headwind Currency Strategy. Mr. DuRie also assists with investor relations and research. He has over 15 years of hedge fund experience, working for two different global-marco hedge funds before founding Plimsoll in 2002.

Rob Jackson SVP Investments Highstreet Asset Management

Rob Jackson, Senior Vice President Investments, Highstreet Asset Management, oversees derivative strategies for Highstreet Asset Management, based in London Ontario Canada. Highstreet manages over $5 billion in assets for pension plans, institutions and private clients. The firm utilizes a proprietary options strategy for adding value in equity portfolios.

Rob has over 11 years of experience in the investment and risk management industry. Prior to joining Highstreet, he managed derivative strategies for a large Canadian insurer. He has a Master of Mathematics degree from the University of Waterloo.

Rob Koloshuk Senior Strategist Integrated Managed Futures

Mr. Koloshuk is the Senior Strategist and Director of Trading at Integrated Managed Futures Corporation in Toronto, Ontario. Mr. Koloshuk has been registered with the CFTC as an associated person since June, 2004, and is an associate member of the National Futures Association. Mr. Koloshuk has been conducting research exclusive to the Managed Futures industry since September of 2002, and he has been working extensively in collaboration with the Department of Statistics and Actuarial Sciences at the University of Waterloo in Ontario, Canada for the past five years. Mr. Koloshuk is a skilled computer programmer (Perl, VBA), a trade execution and account management supervisor, and an experienced quantitative analyst. Mr. Koloshuk studied philosophy at the University of Guelph, where he specialized in Machine Functionalism. His current interests include computational and mathematical finance, and methods of statistical inference for time series models.

Roman Elizarov Board Member, Projects Coordinator Devexperts

Roman Elizarov is the Board Member since the company foundation in 2002. As Project Coordinator, he is responsible for Devexperts projects connected with options trading for retail users and for general projects coordination.
Professional achievements:

• Graduated from St. Petersburg State University of Information Technologies, Mechanics and Optics (SPbSU ITMO), the department of Computer Technologies with Master of Science in Mathematics degree;
  
• Chairman of the jury of the North-Eastern European Regional Contest (NEERC);
• Honored with the Prize of President of Russian Federation in the 2003 educational nomination;
  
• Sun Certified Java Developer, Sun Certified Java Programmer.

Stephane Rio CEO Swapstream

Stephane Rio has been CEO of Swapstream, a CME Group company, since 2004. Amongst his responsibilities, he is actively involved in new product developments, focusing on bringing efficiencies to the Interest Rate Swap market. The latest example is his role in developing CME Swaps on Swapstream, the first interest rate swap to offer the OTC marketplace the full benefits and financial safeguards of central counterparty clearing.

Prior to Swapstream, Stephane worked at Commerzbank in Frankfurt and London for six years where he was Head of IRS Trading. Before working with Commerzbank, Mr Rio enhanced his trading experience at Commerz Financial Products and Credit Lyonnais. He graduated from Ecole Polytechnique and went on to further his education, studying Finance and Economics at the Ecole Nationale de la Statistique et de l'Administration Economique as well as receiving a DEA on stochastics models at the University Paris Jussieu

Susan Webb Dreyfus Managing Principal First Atlas Capital And Appomattox Financial

Susan Webb Dreyfus is Managing Director and Head of Appomattox Advisory, Inc, a financial advisory firm located in New York City. Appomattox manages customized portfolios for Endowments, Foundations and High Net Worths. It also works with hedge fund managers to incubate and launch their hedge funds. Appomattox is a partner with Atlas S.A., located in Geneva, Switzerland.

In addition, Susan Webb is Head of First Atlas Capital, the Registered Investment Advisor for Atlas Capital Group. In this capacity she is a member of the Atlas Capital Investment Committee and sub-advises on a number of funds of funds, for Institutional Clients.

Her qualifications to accomplish these goals are extensive. Her career in Finance spans over 20 years: Trading, Structuring and Marketing for various derivative desks on Wall Street. She has set up and managed three different derivative groups (Equity, Credit and Structured Derivatives) ranging in size from 25 to 100 in personnel. Many of today’s successful hedge fund managers were hired and trained by her or are colleagues that she worked closely with on different trading desks. This experience has given her a unique understanding of hedge fund managers managing a variety of assets. It has also provided a strong insight into their use of leverage and financing tools, as well as complex derivatives and the appropriateness of the pricing techniques that managers utilize.

Susan Webb Dreyfus is responsible for the chapter in the Book “Managing Alternative Investments” on “Monitoring and Maintaining Investments in Hedge Funds.” She last spoke at the Managed Futures Conference her topic being ‘Monitoring Hedge Funds for Principal Protection Strategies’.

She holds an M.B.A. with a concentration in Finance from Darden School at the University of Virginia and a B.A. in Economics and in Psychology from the University of Virginia

Woody Brock President Strategic Economic Decisions Inc.

President and Founder of Strategic Economic Decisions (SED), Inc., Dr. Horace “Woody” Brock specializes in applications of the modern Economics of Uncertainty (originally developed and championed by Kenneth J. Arrow of Stanford University) to forecasting and risk assessment in the international economy and its asset markets.

Holder of five academic degrees, Dr. Brock earned his B.A., M.B.A., and M.S. (mathematics) from Harvard University, and his M.A. and Ph.D. from Princeton University (mathematical economics and political philosophy). He was elected an Andrew Mellon Foundation Bicentennial Fellow of the Aspen Institute in 1976. Dr. Brock studied under Kenneth J. Arrow, Professor of Economics, and John C. Harsanyi, Professor of Economics, University of California, Berkeley, both winners of the Nobel Prize in Economics.

Dr. Brock founded SED in 1985, and in doing so was sponsored by Fidelity, GE Capital, IBM Pension Fund, and twenty other institutions looking for a much deeper level of analysis of interest rates and the economy. In its research, SED has focused on apprehending ongoing structural changes in the economy and markets to help clients avoid the pitfalls of illegitimately extrapolating the past into the future. In this regard, Dr. Brock has worked closely with Professor Mordecai Kurz of Stanford University in developing the new theory of Rational Beliefs that is now replacing the classical theory of “Efficient Markets”. This new theory explains for the first time the way in which history rhymes but does not repeat itself.

In addition to authoring SED’s periodic publications and numerous publications in professional journals, Dr. Brock has authored a series of Op-Ed pieces in the New York Times and the International Herald Tribune. His speaking engagements have included audiences as diverse as the World Economic Forum in Davos, Boards of Directors of corporations and banks, corporate officers, high net worth families, private equity groups, and hedge funds. Dr. Brock also authored Interest Rate Insight, the first Expert-System developed for financial markets.

Zachary Farmer VP/Portfolio Manager, Family Asset Management Division Synovus Trust Company

Zachary Farmer is a Vice President and Portfolio Manager in the Family Asset Management division of Synovus Trust Company. He is a graduate of Auburn University where he received a degree in Finance and Accounting.  He initiated and continues to specialize in option and derivative related strategies. Zachary has been with Synovus for eleven years where he manages over two billion dollars in trusteed assets.