29-year career spanning trading, structuring, and global risk leadership across the derivatives franchise.

Began in interest rate derivatives trading, structuring and sales, before moving into firmwide risk and pricing infrastructure. Widely regarded as one of the earliest practitioners of Credit Valuation Adjustment trading, helping to establish CVA as a tradable risk and embedding it into front-office pricing and risk management.

Played a central role in the post-crisis transformation of derivatives markets, co-leading the industry transition to OIS discounting and collateral-aware pricing under International Swaps and Derivatives Association frameworks. Instrumental in integrating funding and capital effects into pricing, implementing Funding Valuation Adjustment and Capital Valuation Adjustment methodologies across the franchise, and aligning trading, treasury and risk through a consistent economic framework.

Appointed Global Head of First-Line Risk & Capital for OTC Clearing, Futures & Options and FX Prime Brokerage (2016–2022). Built and led a new function responsible for market-risk-aware pricing, balance sheet optimisation and capital discipline across cleared and bilateral businesses. Redesigned the firm’s pricing and risk infrastructure to incorporate funding, capital and margin effects at trade level, enabling consistent decision-making across businesses.

Delivered a step-change in financial performance: Clearing revenues increased from approximately $500m to $1bn while reducing capital consumption from ~$20bn to ~$16bn, improving returns without compromising risk standards. The business achieved leading market position (Coalition rankings) and was awarded Risk OTC Client Clearer of the Year 2019 and Risk OTC Client Clearer of the Year 2021.