Mortgage-backed securities manager Structured Portfolio Management has recruited Charles Smart as senior vice-president for trading and portfolio management, responsible for developing mor
Mortgage-backed securities manager Structured Portfolio Management has recruited Charles Smart as senior vice-president for trading and portfolio management, responsible for developing mortgage-backed securities derivative analytics as well as conducting prepayment risk and credit modelling.
‘As opportunities in the mortgage-backed securities space grow, Charles’ understanding of the market will be extremely beneficial to SPM,’ says the firm’s chief executive Don Brownstein.
‘We don’t see any immediate end to volatility in the housing market, so our ability to model and trade around data becomes of huge importance. Charles will help us to seize opportunities and further benefit from our investments.’
Smart was most recently a director at Deutsche Bank Securities where he traded agency and non-agency mortgage-backed securities derivatives, including principal only, interest only and inverse floater collateralised mortgage obligation transactions, and helped develop MBS models and risk analytics tools for the investment bank.
He was previously a senior vice-president in MBS trading at FTN Financial, a financial services provider to the investment banking community, spent five years as managing director and head of MBS trading at Nomura Securities, and was head of technology for Citibank Private Bank.
Founded by Brownstein in 1997 and based in Stamford, Connecticut, Structured Portfolio Management is a hedge fund manager specialising in mortgage-backed securities strategies. In addition to a group of specialised funds, each of which follows a dedicated strategy, the firm manages a composite fund that allocates investments across those strategies.
