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Global Volatility Summit New york

September 17, 2024 at Perelman Performing Arts Center (PAC)

We would like to announce the Global Volatility Summit New York 2024 will be taking place in Perelman Performing Arts Center (PAC) on Sept. 17, 2024

2024 Global Volatility Summit

Save the date for September 17, 2024 at Perelman Performing Arts Center (PAC) in NYC

2024 Event Agenda

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2024 EVENT SPEAKERS

Managers and Sponsors

James Nestor

James Nestor

Science Journalist & Author

James Nestor is a science journalist and author who has written for Scientific American, Outside, New York Times, Wall Street Journal, and more. His book, Breath: The New Science of a Lost Art, spent 20 weeks on the New York Times Bestseller list and, to date, has sold more than 2.5 million copies worldwide. Breath has been translated into 35 languages and was awarded the Best General Nonfiction Book of 2020 by the American Society of Journalists and Authors and was a Finalist for Best Science Book of 2021 by the Royal Society. Nestor lives and breathes in San Francisco.

Website: Mrjamesnestor.com

Instagram: instagram.com/mrjamesnestor

DEMETRI SEVASTOPULO

FINANCIAL TIMES

Demetri Sevastopulo is US-China correspondent for the FT. In this role, he covers all aspects of US-China relations, ranging from foreign policy and security to trade, technology and business. He took up this newly created post in Washington in 2021 after serving as Washington Bureau Chief during for five years. Over two decades at the FT, he has also served as US Politics Correspondent, Pentagon & CIA Correspondent and South China Correspondent. He also spent four years in Hong Kong as Asia News Editor, running the FT’s Asia news network.

Demetri is a prolific scoop getter who has landed blockbuster stories that include China testing a hypersonic weapon, Speaker Nancy Pelosi visiting Taiwan, and CIA chief Bill Burns making a secret trip to China. He has also interviewed everyone from Donald Trump and Donald Rumsfeld to Chinese factory workers and American cowboys.

He began his career as an emerging markets currency derivatives trader at Citibank in Japan before switching to journalism. He graduated from Trinity College, Dublin with a degree in finance, and has an MA in East Asian studies from Harvard University. He also studied at Beijing University and Sophia University in Tokyo. He speaks fluent Japanese, rusty Mandarin Chinese and basic Cantonese. Demetri was born and raised in Dublin, Ireland. 

Noriko Ogawa

Managing Director

Benesse Group Pension Fund

Joined Benesse Group Mutual Aid Society in January 2001, in charge of accounting and secretarial work; transferred to Benesse Group Corporate Pension Fund in January 2005, in charge of assisting with asset management and accounting; appointed Director of Operations in January 2007; appointed Managing Director in November 2020, up to present. 

Diego Parrilla

Diego Parrilla

Principal

36 South Capital

Diego Parrilla is Principal at 36 South Capital, a $2 billion hedge fund with a 21 year track record in long volatility and tail risk strategies headquartered in London. Diego has over 25 years of investment and senior management experience across macro and commodity markets at industry leaders JP Morgan, Goldman Sachs, Merrill Lynch, BlueCrest Capital, Dymon Asia, Old Mutual Global Investors, and Quadriga Asset Managers between in London, New York, Singapore, and Madrid.

Diego is the co-author of best-seller “The Energy World is Flat” (Wiley, 2014), “The Anti-Bubbles” (2017), and selective contributor to leading financial media Financial Times (including two FT Insight Columns), WSJ, Reuters, CNN, Bloomberg, Hedgeye, MacroVoices, Real Vision, The Felder Report, El Mundo, and publishes the monthly newsletter “The Anti-Bubble Report” (25k subscribers).

Diego holds a MSc in Mineral Economics from Colorado School of Mines (USA), MSc Petroleum Economics from French Institute of Petroleum in Paris (France), MS Mining Petroleum Engineering Polytechnic University of Madrid in 1997 and completed JP Morgan Markets Training Program in New York in 1998. Diego is married and a father of 3 children, passionate about sports (former competitive football and tennis player), foreign cultures and languages. He is fluent in Spanish, English, French and keen student of Italian and Mandarin Chinese.

DAn STONE

Principal and Portfolio Manager

IONIC CAPITAL MANAGEMENT

Dan Stone is one of the co-founders of Ionic, where he focuses on managing the interest rates, currencies and credit strategies. He has over 27 years of experience managing relative value arbitrage and long volatility strategies across multiple asset classes. Mr. Stone was formerly a Managing Director and Portfolio Manager in the U.S. and European Volatility and Credit Arbitrage Group at Highbridge. He joined Highbridge in 1996 where he managed convertible bonds and equity, interest rate and credit derivatives. Mr. Stone earned an AB in Economics Magna cum Laude from Harvard College.

Duncan Valentine

Duncan Valentine

Head of Investor Relations & Client Solutions

CAPSTONE INVESTMENT ADVISORS

Duncan Valentine is Capstone’s Head of Investor Relations and Client Solutions. Duncan joined Capstone in 2008 after spending 12 years trading and managing derivatives teams across European markets. He began his career working alongside CEO Paul Britton at Saratoga Limited. While there, he worked on the London International Financial Futures and Options Exchange (LIFFE) as an options market maker, eventually moving into trading equity and index options on the AEX floor in the Netherlands. Following the management buyout of Saratoga by Mako Global Derivatives, Duncan relocated back to London to oversee European trading for Mako across all asset classes.

Duncan received an honors B.A. degree in Business and Economics from the Anglia Ruskin University in Cambridge.

ARI BERGMANN

Founder and Managing Principal/CIO

PENSO ADVISORS, LLC

Ari Bergmann is Penso’s Founder and Managing Principal/CIO. He leads the firm’s investment committee and manages various Penso funds and clients’ mandates. 

Dr. Bergmann founded Penso Advisors, LLC in early 2010 to offer systemic risk management and implement hedging strategies for asset managers and institutional investors through managed accounts. Since its founding, Penso has expanded its services to include management of discretionary global macro and risk mitigation strategies through private funds and bespoke funds of one. 

Between 1997 and 2010, Dr. Bergmann was CEO of Sentinel Advisors, LLC, manager of the Citadel Master Fund (derivatives arbitrage); Sentinel Symphony, LLC, manager of the Symphony FOHF (multi-manager fund of hedge funds) and Penso Capital Markets, LLC, manager of risk overlays. 

Prior to his role in overseeing these firms, Dr. Bergmann was employed at Bankers Trust from 1989 to 1997. In 1989, he joined Bankers Trust’s U.S. Interest Rate Derivatives trading desk and managed this unit during 1992 and 1993. During this period, he was active in the development of structured notes, index-amortizing swaps, time swaps, binary options and other derivative products. From late 1993 until his departure in 1997, he headed the Risk Merchant Bank and the Transaction Development Group at the bank. He founded the latter to integrate Bankers Trust’s finance and derivative capabilities to offer enhanced corporate finance products to corporate clients. In this capacity, he led a team that created a derivatives structure that was widely used in the privatization of many large European companies. He also developed derivatives and trading strategies used by several corporations in the implementation of strategic acquisitions. During his tenure at Bankers Trust, Dr. Bergmann was a Senior Managing Director and a pioneer in the field who helped create and implement the initial swaps on hedge funds. 

From 1987 through 1989, Dr. Bergmann was an Assistant Vice President at Drexel Burnham Lambert Trading Corp., working in precious metals and commodity trading. From 1986 through 1987, Dr. Bergmann was a staff accountant at Price Waterhouse in New York. 

Dr. Bergmann holds a Master’s in Liberal Studies and a Ph.D. in Comparative Religion, both from Columbia University. 

PAUL BRITTON

Founder and Chief Executive Officer

CAPSTONE INVESTMENT ADVISORS

Paul Britton is Capstone’s Founder and Chief Executive Officer. Paul focuses on setting the firm’s strategy, developing our culture, attracting key talent and overseeing the execution of investment and business functions. Paul began his career with Saratoga Limited, trading options on the London International Financial Futures and Options Exchange (LIFFE), and co-founded Mako Global Derivatives in 1999. In 2001, Paul moved to New York to establish and manage Mako’s U.S. operations, the buyout of which he led to form Capstone in 2004. Paul is immensely proud of the progress made by the team at Capstone over the years, and by the strong relationships we have been fortunate to build with our investors.

Paul currently serves on the Boards of the US Soccer Foundation, The Tate America’s Foundation and Friends Seminary School in New York City.

Paul received a B.A. degree in European Business Finance from London Metropolitan University.

Pablo E. Calderini

President and Chief Investment Officer

Graham Capital Management

Pablo E. Calderini is the President and Chief Investment Officer of Graham Capital Management, L.P. (“Graham”), an alternative investment manager with approximately $19.8B AUM as of April 1, 2024.  Mr. Calderini is responsible for the management and oversight of the discretionary and systematic trading businesses at Graham. He is also a member of the firm’s Executive, Investment, Risk, and Compliance committees. He joined Graham in August 2010. Prior to joining Graham, Mr. Calderini worked at Deutsche Bank from June 1997 to July 2010, where he managed several business platforms, including Equity Proprietary Trading, Emerging Markets, and Credit Derivatives. Mr. Calderini received a B.A. in Economics from Universidad Nacional de Rosario in 1987 and a Masters in Economics from Universidad del CEMA in 1989, both in Argentina.

Dr. Lester Coyle

Chief Investment Officer

III Capital Management

Dr. Lester Coyle is a principal and Chief Investment Officer. He is also the portfolio manager for the III credit and asymmetric funds. Lester joined III in February 2005 from Commerzbank where he was U.S. head of credit correlation trading. Prior to that, he worked at Bank One as a single name and correlation trader on the credit desk, and as a credit model builder in the quantitative group. Earlier, Lester was a mathematics professor at Duke University and Loyola University. He holds a PhD in Mathematics from the University of Michigan and a BA in Mathematics from Trinity College, Dublin. He is co-author of the book “Lectures in Contemporary Probability” and has published numerous articles on probability and finance.   

PIERRE DE SAAB

Partner and Head of Asset Management

DOMINICÉ & CO

Pierre de Saab joined Dominicé in 2010 and is a partner since 2015. He is in charge of the company’s Alternative Investments unit and is the lead portfolio manager of its flagship volatility strategy. 

Prior to joining Dominicé, Pierre held senior roles at Credit Suisse, as well as UBS in Zurich, London and New York, where he built and led several equity derivatives trading desks. 

During his career, Pierre has developed expertise in derivative products, proprietary trading strategies, risk management and trading systems. 

Pierre earned a Masters in Mathematical Engineering from the Swiss Federal Institute of Technology in Lausanne (EPFL), a Masters in Real Estate from the University of Geneva and an MBA from INSEAD.

Takashi Imai

Takashi Imai

Head of Investment Management Business Dept

SMBC Nikko Securities Inc.

Takashi Imai is head of Investment Management Business Dept. which is in charge of SMBC Nikko’s investment management business including running Nikko Fund Wrap as well as SMBC Fund Wrap with combining AUM of approx. JPY4trillion. 
Prior to joining SMBC Nikko Securities in 2017, he held several senior positions including Director at Credit Suisse Securities (Japan) Prime Brokerage Div. and Managing Director and head of Product Management Dept. at BlackRock Japan.  
He started his career at ITOCHU Corporation where he was involved in its asset management business including 4.5 year secondment to its NY based hedge fund and FOF business.  

He earned Bachelor of Science degree from Tokyo Institute of Technology and participated in Program for Management Development at Harvard Business School. 

36 South Capital Advisors

36 South Capital Advisors launched in 2001 and specialize in the creation and management of asymmetrical portfolios with an emphasis on crisis protection. We invest in generally long-dated bullish and bearish, pan-asset class options which have the potential to generate exponential returns in a crisis. All of our funds are long volatility and invest in a combination of convex and positively accruing options. The funds aim to be non-correlated to traditional assets in a crisis and seek to provide portfolio diversification, risk mitigation and liquidity in order to ultimately reduce risk and increase investors’ long term portfolio returns.

Domincé

Founded in 2003 in Switzerland, Dominicé is an investment management firm specializing in volatility, quantitative equities and Swiss real estate. With over two decades of experience in volatility strategies, we capitalize on market inefficiencies to generate consistent uncorrelated returns across market cycles. Our agile investment approach in liquid derivatives markets allows us to adapt swiftly to changing market conditions and manage risks effectively. Incorporating our volatility strategy into portfolios can significantly enhance their risk-adjusted returns, due to its low correlation to traditional asset classes and hedge fund styles.

III Capital Management

III Capital Management (“III” pronounced “triple eye”), together with its affiliates, has been managing investor capital since 1982. Our mission is to work with sophisticated institutional investors and leverage our infrastructure to provide independent, asymmetric, customized investment solutions globally. We regard our clients as trusted partners and hold ourselves to high ethical standards. III manages approximately $4.8 billion across four primary strategies: fixed income relative value ($1.1B), convexity/tail ($1.4B), long only credit ($1.8B), and long/short credit ($508M). Our investor base is over 90% pensions and endowments with over 90% of assets in managed accounts or funds of one to provide customization and flexibility to clients. The firm is headquartered in Boca Raton, FL with approximately 100 employees; its principals have an average tenure of over 19 years with III.

Ionic Capital Management

Ionic Capital Management® LLC (“Ionic”) is a $3.9 billion New York based alternative asset manager founded in 2006 by Bart Baum and Daniel Stone. Ionic manages multiple private investment vehicles employing different investment strategies including relative value arbitrage, long volatility, and value equity. In addition, Ionic acts as sub-advisor to multiple registered investment funds for which it employs relative value arbitrage and value equity investment strategies. Within the long volatility investment strategies, Ionic focuses on generating negatively correlated returns, with the potential to deliver outsized returns in volatile markets. Ionic utilizes both explicit and imbedded options across asset classes, including equities, interest rates, currencies, commodities and credit in order to construct a portfolio that is typically positive convexity and long volatility.

Man Group

Man Group is a global, technology-empowered active investment management firm focused on delivering alpha and portfolio solutions for clients. Headquartered in London, we manage $151.4 billion and operate across multiple offices globally. We invest across a diverse range of strategies and asset classes, with a mix of long only and alternative strategies run on a discretionary and quantitative basis, across liquid and private markets. Our investment teams work within Man Group’s single operating platform, enabling them to invest with a high degree of empowerment while benefiting from the collaboration, strength and resources of the entire firm. Our platform is underpinned by advanced technology, supporting our investment teams at every stage of their process, including alpha generation, portfolio management, trade execution and risk management.

Graham Capital Management

Graham Capital Management, L.P. (“Graham”) is an alternative investment manager with approximately $19.8B AUM as of April 1, 2024, founded in 1994 by Kenneth G. Tropin. For nearly three decades, Graham has specialized in providing compelling quantitative and discretionary alpha opportunities across a variety of market environments that seek low correlation to traditional investments. While Graham is one of the longest running macro and trend-following managers, the firm is committed to the innovative evolution of its strategies, supported by an established investment, technology, and operational infrastructure. By leveraging the unique synergies between the firm’s quantitative and discretionary trading businesses, Graham has developed a broad range of complementary alpha strategies with a focus on thoughtful portfolio construction, active risk management, and diversification by design. Significant proprietary capital is invested in many of Graham's strategies, contributing to the alignment of interest between the firm and its clients. Graham's clients include global institutions, endowments and foundations, family offices, sovereign wealth funds, investment management advisors, and qualified individual investors.

Parallax Volatility Advisers

Parallax Volatility Advisers, L.P. is the San Francisco based investment adviser to Parallax Master Fund, L.P. and Cega RV Master Fund, L.P. Parallax has four distinct investment strategies that align with our data-driven approach to capturing value through volatility and market dislocation by integrating robust quantitative models and embedded risk modeling with state-of-the-art technology.

Parallax Master Fund employs a global volatility relative value strategy that incorporates multiple trading strategies being utilized opportunistically. The process identifies trading opportunities by options flow analysis that is supported by qualitative and quantitative evaluation and targets the most attractive risk-adjusted portfolio of volatility exposures in both listed and over-the-counter options on global equities, indexes, ETFs, and commodities. Parallax was founded in 1996 and has been negatively correlated to major market indexes.

Cega RV is a capital structure and convertible relative value fund that seeks to capture value through relative value trading within corporate capital structures. Cega RV seeks to generate returns by identifying pricing dislocations across an issuer’s capital structure (equity, debt, and relative derivatives) via this long volatility, long convexity strategy.

Corvus Delta is a global, diversified, systematic strategy that is uncorrelated to traditional investment benchmarks and is committed to trend and counter-trend following. Corvus Delta strives to profit from the mispricing of global assets resulting from large, dominant flows in liquid markets via its data-driven approach to trading.

Parallax Eclipse Digital is a Digital Asset strategy that seeks to capture value in the Digital Asset space through Relative Value Volatility Arbitrage in both listed and OTC options across multiple cryptocurrencies and crypto-related equities. The strategy captures value by monitoring options markets across multiple exchanges and executing trades when prices diverge relative to our proprietary models.

Penso Advisors

Penso Advisors LLC, established in 2010, is a $1.4 Bn AUM New York based manager and advisory boutique specializing in discretionary global macro and risk mitigating strategies. Our niche specialty is derivatives structuring/trading and the management of high convexity strategies. We manage discretionary global macro strategies as well as bespoke, multi-asset class hedging portfolios for asset managers and sophisticated institutional allocators.

TRUE PARTNER CAPITAL

True Partner Capital is a global asset management firm founded in 2010 and with offices in Asia, the US and Europe. We have over $1.7 billion in assets under management and serve a diverse range of clients globally. The Firm has a focus on volatility trading in liquid markets, particularly equities. The key principals of the Firm were previously options market makers, and the Firm combines trading and technology expertise built up over many years of software development and active trading in derivative markets. We seek to develop long-term partnerships with our clients and to provide them with superior risk-adjusted investment returns and client service through fund products and separate mandates.

Transtrend

Founded in 1991, Transtrend is a pioneer in active systematic trading with over 35 years of experience in researching markets and managing assets for our clients. We specialize in trend-based trading and currently have USD 5.8 billion under management (including notional funds). Our team is based in Rotterdam, the Netherlands, and consists of 75 professionals.

Transtrend's Diversified Trend Program (DTP) is an active and adaptive trading program attuned to the major developments in the world. The program has an absolute return objective and does not follow any benchmark or index. DTP is known for its broad investment universe consisting of over 500 futures, forwards and swap markets which are traded both outright and in ‘synthetic’ combinations, its focus on risk management and its demonstrated ability to generate ‘crisis alpha’. Its 30+ years track record is the result of a coherent, sustainable and proven investment process, which is kept in-sync with prevailing market dynamics by our research team.

Harold de Boer

Managing Director, Head of R&D

Transtrend

Harold is the architect of Transtrend’s Diversified Trend Program, responsible for R&D, portfolio management and trading. Harold was born and raised on a dairy farm in Drenthe. And from a young age, he has been intrigued by linking mathematics to the real world around us.

He graduated in 1990 with a Master’s degree in Applied Mathematics from the University of Twente in the Netherlands. In the final phase of his studies, while working on the project that would later become Transtrend, he became fascinated by the concept of leptokurtosis — or ‘fat tails’ — in probability distributions, a topic which has inspired him throughout his career.  

Harold’s approach to markets is best described as a combination of a farmer’s common sense and mathematics, never losing sight of the underlying fundamentals.