2016 RMC Asia Speakers
Equity Derivatives Strategist, Bank of America Merrill Lynch
William Chan joined Bank of America Merrill Lynch in November 2004 and is part of the Global Equity Derivatives Research team. The team is responsible for developing derivatives strategies for clients. Previously, he was at Deutsche Bank, where he was responsible for derivatives exposure management. William received his Bachelor’s degree in Civil Engineering from University of Wisconsin-Madison and his Master’s degree in Financial Engineering from Columbia University.
Head of UBS America Equity Derivatives Strategy
Rebecca joined UBS in May 2014 as the Head of Americas Equity Derivatives Strategy where the team is responsible for publishing trade ideas across asset classes and capital structures via both delta-one and derivatives products. Her team also advises institutional investors on derivatives overlay to fine tune the risk-reward distribution of their portfolios, both tactical and systematic. In particular, Ms. Cheong's commentaries on cross-asset dislocations, market signals and systematic strategies are widely followed. In 2016, she was awarded Top 100 Working Mother of the Year by the Working Mother magazine.
Prior to UBS, Ms. Cheong was the Director of Quantitative Research at Balestra Capital, a global macro hedge fund, where she served as a member of their investment committee. Her team was responsible for designing quant models and generating tactical ideas across asset classes, as well as optimizing derivatives & hedging implementations. Prior to Balestra Capital, Ms. Cheong was a Managing Director and the Head of US Advisory in the Global Equity Flow Division at Société Generale.
Prior to joining Société Generale, Ms. Cheong worked at Goldman Sachs for over 14 years, where she was most recently Co-Head of the Equity Derivatives Strategy team. She began her career at Goldman Sachs as a derivatives trader.
Ms. Cheong received Bachelor of Arts degrees in both Computer Science and Economics from Wellesley College where she graduated magna cum laude in three years. She also holds a Master of Science in Financial Engineering from the New York University’s Stern School of Business. She is also a CFA.
former derivatives trader and Cambridge neuroscientist; author of the Hour Between Dog and Wolf
John Coates, former Research Fellow in Neuroscience and Finance at the University of Cambridge, previously traded derivatives for Goldman Sachs and ran a trading desk for Deutsche Bank. His research on the biology of gut feelings, risk taking and stress has been published by the Royal Society and the National Academy of Sciences USA. His book, The Hour Between Dog and Wolf, was short listed for the Financial Times/Goldman Sachs Business Book of the Year, and the UK Wellcome Trust Science Prize. It was also chosen book of the month by the British Army.
CIO, Convex Strategies, City Financial Investment Company Pte Ltd
David is the CIO of Convex Strategies at City Financial Investment Company Pte Ltd, and has 25 years of Asian investment experience. Previously, David was the Chief Investment Officer of the Convex Strategies Group at Fortress Investment Group LLC which he joined in 2011.
Prior to Fortress, David served as a Managing Director and Portfolio Manager at Artradis Fund Management in Singapore, where he was responsible for the fixed income aspects of their volatility strategy.
Earlier in his career, David built and ran Asian and global EM trading businesses for RBS (ABN AMRO Group), Bankers Trust and Bank of America.
Tanuj Dutt, CFA
Senior Portfolio Manager, Nikko Asset Management Asia Limited
Tanuj is a senior portfolio manager in the Global Multi‐Asset team at Nikko Asset Management. He is responsible for research and the implementation of asset class views within commodities, real estate and other alternatives. In addition, he supports the broader Multi‐Asset capability through the development and oversight of the team’s portfolio construction and risk management processes. He has 15 years of quantitative research and trading experience in global equities and multi‐asset strategies.
Tanuj was previously a co‐founder and portfolio manager of Nuvest Capital Pte Ltd. As a portfolio manager, he was responsible for the fund’s allocation to alternative assets including commodities and real estate. Prior to that, he held various quantitative roles at hedge funds including Citadel Investment Group in Hong Kong and Optimal Fund
Management in Sydney. He started his career as a quantitative analyst at Salomon Smith Barney/Citigroup in Singapore.
Tanuj holds a B.Eng (Honours) degree from the National University of Singapore, a M.Sc. (Financial Engineering) degree from the Nanyang Technological University and a Certificate in Computational Finance from the Carnegie Mellon University. He is a CFA® charter holder.
Senior Director of Index Investment Strategy, S&P Dow Jones Indices
Tim Edwards is the European head of Index Investment Strategy for S&P Dow Jones Indices. The group provides research and commentary on the entire S&P Dow Jones Indices product set, including U.S. and global equities, commodities, fixed income, and economic indices. His latest research topics include risk dimensionality, the rebalancing effect, estimating active management opportunities and benchmark selection. Prior to joining S&P Dow Jones Indices, Tim worked at Barclays Capital in both London and New York, where he had global responsibility for the “iPath” series of exchange-traded notes. Tim holds a PhD in pure mathematics from University College London.
Govert Heijboer PhD MSc
Co-CIO, True Partner Advisor Ltd
In 2003 Govert started his trading career as a market maker at Saen Options in Amsterdam and rose to become the director of derivatives trading and a member of the executive team in 2007. In 2008 he moved to Hong Kong to set up and assume responsibility for all trading activities in the new Saen Options Hong Kong branch office. Since 2010, he is a founding partner and co-CIO of True Partner Capital. Govert holds a PhD in Management Science and a MSc in Applied Physics from the University of Twente, Netherlands.
Richard Johnston BSc. ACA
Managing Director, Albourne Partners (Asia) Limited
Richard joined Albourne in September 2004 to set up and head their Asian region providing both research on Asian based managers and consulting services to investors. Albourne Partners Limited is a leading UK based independent hedge fund, private equity, real assets and real estate advisory firm representing over 250 clients with an estimated $400bn allocated to alternatives. Albourne Partners Limited was established in 1994 and has 298 employees in 12 countries.
Richard spent the previous eleven years with UBS AG in Hong Kong and Singapore, in various senior positions managing equity proprietary trading, convertible bonds and prime brokerage in the region. Prior to this, he was with Baring Securities in London and Tokyo, specialising in arbitrage trading and risk management.
Richard graduated in Computer Science from Manchester University, UK in 1981 and was admitted as a member of The Institute of Chartered Accountants of England and Wales in 1984.
Portfolio Manager, Nine Masts Capital Limited
Benoit Meulot is a Portfolio Manager at Nine Masts Capital in Hong Kong. Prior to this position he was a portfolio manager in BTG Pactual’s global hedge fund business. He focused on Asia equity derivatives and his strategies cover volatility arbitrage, correlation and dividends. Prior to joining BTG Pactual in 2015, he founded the Asia volatility proprietary trading desk at both RBC and Societe Generale in Hong Kong, after having held various roles in Paris for SG.
Benoit holds a MS in computer science from Telecom Paris Tech and a MS in probability and finance from Paris VI University.
Vice President, Institutional Business Development, CBOE
Mr. Matthew Moran is vice president of business development for the Chicago Board Options Exchange (CBOE), where he works with pension funds, mutual funds, and other institutional investors. Previously, he was trust counsel at Harris Bank and vice president at Chicago Mercantile Exchange. He is an associate editor of two Institutional Investor publications -- The Journal of Trading and The Journal of Index Investing. Mr. Moran holds JD and MBA degrees from the University of Illinois.
Head of Liability Management, Derivatives & Defensive Assets, NSW Treasury Corporation
James is currently Head of Liability Management, Derivatives & Defensive Assets at NSW Treasury Corporation. He formerly held a similiar position at TCorp James also was Head of Fixed Income & Derivatives at State Super where he oversaw the Fixed Income, Currency and Exposure Management for the Fund. Prior to joining State Super James was a Senior Portfolio Manager at AMP Capital and IPAC (AXA).
Founder and CEO, Market Taker Mentoring, Inc.
Dan Passarelli is an author, trader and former member of the Chicago Board Options Exchange (CBOE) and CME Group.
Mr. Passarelli has written two popular books on options trading — “Trading Option Greeks” and “The Market Taker’s Edge.” Trading Option Greeks has been translated into Chinese.
He is also the founder and CEO of Market Taker Mentoring, Inc., the leading options education firm in the U.S. and internationally. Market Taker Mentoring provides options education both online and in person. The company website is http://www.markettaker.com.
Mr. Passarelli began his trading career on the floor of the CBOE as an equity options market maker. He also traded agricultural options and futures on the floor of the Chicago Board of Trade (now part of CME Group).
Having spent many years as a market maker himself, Mr. Passarelli is a world-renowned expert and teaches traders across the world how to trade successfully as market makers, proprietary traders, money managers and retail traders.
In 2005 Mr. Passarelli joined CBOE’s Options Institute and began teaching both basic and advanced trading concepts to retail traders, brokers, institutional traders, financial planners and advisors, money managers, and market makers. In addition to his work with the CBOE, he has taught options strategies in conjunction with the Options Industry Council (OIC), The China Futures Association (CFA), the International Securities Exchange (ISE), CME Group, the Philadelphia Stock Exchange, the Shanghai Futures Exchange and many leading options-based brokerage firms.
Mr. Passarelli also contributes to financial media such as TheStreet.com, FOX Business News TV, Bloomberg Television, BNN Television, Public Radio, and the CBOE blog.
Mr. Passarelli has worked with many Chinese delegations recently. During his trips to Asia, he spoke at the CFA, Shanghai Futures Exchange, and several Chinese brokerage firms.
In the U.S. Mr. Passarelli collaborated with the Chicago Board Options Exchange (CBOE) and other oganizations to teach Chinese delegates from China’s major financial institutions, exchanges and brokerage firms, both basic and advanced option trading. Many of these classes were held at the CBOE.
Vice President, Equity & Funds Structured Markets, Barclays Capital Asia Limited
Selim joined Barclays in June 2009.
In March 2012, he joined the Equity & Funds Structuring team based in Hong Kong and covering the Asia ex-Japan region. His main area of focus is providing cross-asset investment solutions to clients in the smart beta and alternative risk premia space.
Prior to that, Selim was a member of the Quantitiative Indices and Strategies team based in London. His work involved designing and implementing systematic investment strategies in the equity space.
Selim holds a diplome d’ingenieur from Ecole Centrale Paris, a MPhil (engineering) from Cambridge University and a MSc (financial engineering) from University of Paris Dauphine.
Portfolio Manager, GF Asset Management
Laurent is a senior portfolio manager for the GTEC multi-strategy fund and has 17 years of European and Asian derivatives experience.
Prior to joining GFAM, Laurent was a managing director at Nomura and Bank of America Merrill Lynch, responsible for trading in equity derivatives, equity financing and delta one products.
He also worked at Credit Lyonnais and Citibank NA.
He holds a master degree from Institut d'Etudes Politiques de Strasbourg and a postgraduate degree from Paris IX Dauphine."
Steven M. Sears
Senior Editor and Columnist, Barron's and Barrons.com
Steven M. Sears is a Senior Editor and Columnist with Barron's and Barrons.com. He writes The Striking Price and Striking Price Daily columns. Mr. Sears is the author of The Indomitable Investor: Why a Few Succeed in the Stock Market When Everyone Else Fails. He previously reported for Dow Jones Newswires and The Wall Street Journal. He has reported upon most major modern financial events, including the Asian Contagion, the bursting of the Internet Bubble, the Credit Crisis, and Europe's sovereign debt crisis. He also was part of exchange executive teams that modernized the U.S. options market, and introduced electronic trading. He is a member of the Economic Club of New York.
Paul B. Stephens
Vice President and Department Head, CBOE
Paul Stephens is Global Head of Institutional End-User Business Development for the
Chicago Board Options Exchange (CBOE). He currently focuses on index-related products
such as S&P 500 options (SPX), the most active U.S. index option, and options on the CBOE Volatility Index (VIX), the world’s barometer for market volatility. The CBOE, founded in 1973, is the creator of listed options and the largest U.S. options exchange.
Mr. Stephens has over thirty years industry experience in options, futures and other derivative securities. Prior to joining the business development division at the CBOE, Mr. Stephens was a Senior Staff Instructor with The Options Institute division of the CBOE. He also taught classes for the University of Chicago’s Masters in Financial Mathematics program. Before arriving at the CBOE, he served as Financial Derivatives Instructor for the global investment bank S.G. Warburg. Mr. Stephens has also been a floor broker at the Chicago Mercantile Exchange for clients of Refco, Inc.
Paul Stephens has successfully passed three exams administered by the Society of
Actuaries, holds a BS in Mathematics from Southern Illinois University and earned his MBA from Loyola University.
Edward T. Tilly
Chief Executive Officer, CBOE Holdings, Inc.
Edward T. Tilly is the Chief Executive Officer (CEO) of CBOE Holdings, Inc., Chicago Board Options Exchange (CBOE) and C2 Options Exchange (C2). He also serves as the Chairman of the Board of the CBOE Futures Exchange (CFE). Tilly has been an integral part of the CBOE community, as both a trader and exchange executive, for more than 25 years.
Prior to being named CEO, Tilly was CBOE President and Chief Operating Officer (COO) from November 2011 through May 2013. He served as CBOE's Executive Vice Chairman from 2006 to 2011 and held the highest member-elected position at the exchange as CBOE’s Member Vice Chairman from 2004 to 2006.
Tilly came to CBOE as a trading floor clerk in 1987 and became a floor trader and CBOE member in 1989. He traded as both a market maker and a designated primary market maker (DPM) until joining CBOE’s executive management team in 2006.
As a CBOE member, Tilly served on the CBOE Board of Directors from 1998 to 2000 and again from 2003 to 2006 and chaired the CBOE Floor Directors Committee from 2004 to 2006. He was also a member of the Executive, Compensation and Governance Committees, key committees of the CBOE Board of Directors.
Tilly currently serves on the board of directors for CBOE Holdings, Inc., CBOE, C2, CFE, Northwestern Medical Group, the OCC and Working in the Schools. Tilly is a member of the Economic Club of Chicago and the Chicago Club.
He received a B.A. degree in Economics from Northwestern University.
Director, Research and Product Development, CBOE
Bruce Traan is a Director in CBOE’s Research and Product Development Department. His role in the department is to manage the listing of new derivative products on the exchange, as well as to work closely with index strategy benchmarks and initiatives. Prior to joining CBOE, Bruce was an options trader with a proprietary trading firm for four years and also founded a Chicago-based IT consulting firm specializing in IT managed services. With more than 15 years of experience in the financial and technology markets, Bruce has been able to apply innovative approaches to problem-solving and solutions management.
Bruce holds a bachelor’s degree in computer science with a minor in finance from Northeastern Illinois University and is expected to hold his MBA from Kellogg School of Management, Northwestern University, in June 2017.