Fred has 20+years of experience in the Capital Markets in both asset management and investment banking with a focus on UK, EUR and US inflation. He started his financial services career in 1997 when he joined US investment bank DLJ where he worked on early VAR models and valuing structured products such as FX NDFs, convertible asset swaps and options. In 1999 he moved to Barclays Capital to work with the interest rate strategy team, focusing on quantitative modeling and analysis of interest rates and foreign exchange. Fred subsequently took on more responsibility for the broader strategy product with a deeper focus on inflation-linked markets where Barclays was the market leader.
As the inflation-linked franchise expanded Fred became more focused on the global inflation product, writing regular strategy notes, the Global Inflation-Linked Monthly as well as the inaugural Guide to Inflation-Linked Bonds, which is still updated and published today. Fred was also a contributing writer to the annual Equity-Gilt study gaining a strong following amongst the global investor and issuer community. In 2003 Fred joined UBS as head of Global Inflation-Linked Strategy, where he continued to produce inflation-linked research for the global inflation-market whilst working closely with trading and sales to help develop the franchise. In late 2004 he moved into a trading role for US TIPS securities and moved to New York, where he ran market-making for four years before returning to London where he also took on the responsibility for market-making in Euro inflation-linked debt.
Fred joined Hermes Investment Managers, who ran some of the largest segregated inflation-linked mandates in the UK in 2009, as Strategist for the inflation-linked and government bond portfolios where he worked closely on product development with the Portfolio Managers and risk management. In 2012 Fred returned to inflation trading joining Nomura International with a dual mandate to trade cash and derivative global inflation products and to help broaden their position in the inflation markets.