Experience

PMC Treasury

• United Kingdom
• Financial Services
• 1 - 100 Employee

• Treasury Solutions Consultant

  • Mar 2023 - Present

  London, England, United Kingdom



BHP

• Australia
• Mining
• 700 & Above Employee

• Corporate Finance

  • Sep 2020 - Jan 2023

  London, Greater London, United Kingdom - Balance sheet planning and oversight for BHP Group globally, including advising on capital strategy, funding needs for operations and acquisitions, ratings advice and distribution recommendations (including dividends and share buybacks both in Australian and UK markets). - “China champion” for Treasury, identifying strategies for engagement with Chinese financial counterparties and supporting BHP’s commercial strategy in China. Worked with Chinese banks on a proposal for BHPs first Panda… Show more - Balance sheet planning and oversight for BHP Group globally, including advising on capital strategy, funding needs for operations and acquisitions, ratings advice and distribution recommendations (including dividends and share buybacks both in Australian and UK markets). - “China champion” for Treasury, identifying strategies for engagement with Chinese financial counterparties and supporting BHP’s commercial strategy in China. Worked with Chinese banks on a proposal for BHPs first Panda bond issued in China and sought (and received) executive sponsorship from the CFO and CCO. - Refreshed the capital allocation framework and strong balance sheet frameworks used to determine distributions and capex against the need to maintain a solid single-A credit rating pre- and post- unification of the dual listed structure and the disposal of BHPs Petroleum business. - Rebuilt internal cashflow and rating models to allow creation of complex multi-transaction and price scenarios to aid decision making activities, including improved liquidity scenario modelling over a two-year window.

• Director, BHP Billiton UK Holdings Ltd

  • Oct 2019 - Oct 2022

• Director, BHP Billiton UK Investments Ltd

  • Oct 2019 - Oct 2022

• Director, BHP Billiton Finance plc

  • Jul 2019 - Oct 2022

  UK Financing subsidiary of BHP

• Director, BHP Billiton Finance B.V.

  • Jul 2019 - Oct 2020

  Dutch Financing subsidiary of BHP

• Head of Financial Markets

  • Oct 2019 - Aug 2020

  Head of front office dealing function including DCM - maternity cover role. - Led a team of 3 traders dealing FX, interest rates, investments and undertaking debt capital markets activities across the entire group including Australian and Chilean operations. - Drove strategic change to the cash management approach using improved liquidity management allowing $2bn of longer maturity investments. This increased additional interest income over our benchmark of over 55bps (peaking at 88bps)… Show more Head of front office dealing function including DCM - maternity cover role. - Led a team of 3 traders dealing FX, interest rates, investments and undertaking debt capital markets activities across the entire group including Australian and Chilean operations. - Drove strategic change to the cash management approach using improved liquidity management allowing $2bn of longer maturity investments. This increased additional interest income over our benchmark of over 55bps (peaking at 88bps) equivalent to $92m p.a. with minimal increase in liquidity risk. - Led a revised benchmarking of performance of our algorithmic FX trading providers through enhance trade cost analysis to identify savings on over $30bn of foreign currency purchases annually. - Proposed and implemented the first liability management exercise on BHPs hybrid bonds. Identified the benefits were minimal in a cyclical low-price scenario and that retiring would generate significant savings. Tendered the exercise to BHP’s panel banks, oversaw internal approvals and led the exercise and subsequent hedging of the resulting FX and interest rate risk.

• Manager, Treasury Risk

  • Jun 2017 - Oct 2019

  London, Greater London, United Kingdom Reporting to the Group Treasurer, managed a team of 3 providing oversight of all financial and operational risk within the function. As a member of the Treasury Leadership Team, developed initiatives around wellbeing, flexible working and development in response to results from the annual employee survey. Oversaw the implementation of Bloomberg as a risk and performance system to quantify relative performance and strengthen risk oversight around FX and interest rate risk within… Show more Reporting to the Group Treasurer, managed a team of 3 providing oversight of all financial and operational risk within the function. As a member of the Treasury Leadership Team, developed initiatives around wellbeing, flexible working and development in response to results from the annual employee survey. Oversaw the implementation of Bloomberg as a risk and performance system to quantify relative performance and strengthen risk oversight around FX and interest rate risk within Treasury, and improve reconciliation of front office profits to the general ledger. Worked with Marketing to oversee Treasury requirements relating to derivative hedging of commodity price risk and financial institution exposure through letters of credit.



Guardian Financial Services

• United Kingdom
• Financial Services
• 1 - 100 Employee

• Head of Liquidity Management

  • Dec 2013 - Oct 2016

  London, United Kingdom Set treasury strategy for a closed book life insurer with £15bn AUM. Developed a liquidity framework, placing investment restrictions upon the credit investment team for different asset classes by determining their liquidity. Worked on ensuring cash pooling arrangements across business lines (with-profits, non-profit and unit linked) were in line with regulation and managed correctly. Oversaw liquid asset investment, counterparty default risk, collateral management activities (including… Show more Set treasury strategy for a closed book life insurer with £15bn AUM. Developed a liquidity framework, placing investment restrictions upon the credit investment team for different asset classes by determining their liquidity. Worked on ensuring cash pooling arrangements across business lines (with-profits, non-profit and unit linked) were in line with regulation and managed correctly. Oversaw liquid asset investment, counterparty default risk, collateral management activities (including collateral structures within the matching adjustment portfolio, CSA negotiations and the preparation for central clearing of OTC derivatives) and collateral optimisation using structured rates facilities (including bank structured rates facilities, different legal structures and out of the money swaptions). Show less



Barclays Corporate & Investment Bank

• United States
• Financial Services
• 700 & Above Employee

• Vice President

  • Jun 2013 - Nov 2013

  Vice President within IB Treasury responsible for analysing liquidity stresses, designing liquidity models and pricing liquidity to businesses.



HSBC

• United Kingdom
• Financial Services
• 700 & Above Employee

• Director, Balance Sheet Management

  • Jun 2011 - Mar 2013

  Short Term Debt, Balance Sheet Management; Structured the HSBC Bank plc US and European Commercial Paper programmes which included floating rate and extendible CP in the US as well as traditional discount issuance and was one of the first bank USCP programmes not to use traditional liquidity backstop facilities but achieve the highest short term ratings. Pitched the programme to the Head of Global Markets and undertook the internal “New Product Due Diligence” process to address all… Show more Short Term Debt, Balance Sheet Management; Structured the HSBC Bank plc US and European Commercial Paper programmes which included floating rate and extendible CP in the US as well as traditional discount issuance and was one of the first bank USCP programmes not to use traditional liquidity backstop facilities but achieve the highest short term ratings. Pitched the programme to the Head of Global Markets and undertook the internal “New Product Due Diligence” process to address all issues with support functions including tax, operations, compliance and risk) to get their buy in. Marketed the programme to investors and launched in late 2011. Grew the outstandings to $9bn within a year and drove pricing in by 5bps against previous CD issuance. Managed $15bn of ABCP holdings and made markets in programmes we were dealer on. Negotiated the term funding of the last securities arbitrage ABCP programme to significantly reduce the contingent liquidity risk being run by HSBC.

• Director, Structured Investment Vehicles

  • Jul 2008 - Jun 2011

  As head of a team of 3 staff (from Manager/AD grade to Analyst), managed the interest rate and FX positioning of $70bn of ABS assets held in legacy ABCP vehicles and hedged risks to maximise profitability. Set the debt issuance strategy to improve the longer term liquidity position of these vehicles – put in place term financing during 2009-10 in order to reduce the contingent liquidity risk – and negotiated backup liquidity lines for on-going CP issuance. Implemented changes to the… Show more As head of a team of 3 staff (from Manager/AD grade to Analyst), managed the interest rate and FX positioning of $70bn of ABS assets held in legacy ABCP vehicles and hedged risks to maximise profitability. Set the debt issuance strategy to improve the longer term liquidity position of these vehicles – put in place term financing during 2009-10 in order to reduce the contingent liquidity risk – and negotiated backup liquidity lines for on-going CP issuance. Implemented changes to the legal structure of the MTN and CP programmes with the lawyers and rating agencies to minimise RWAs and ensure programmes remained attractive to investors, many of whom were leaving the sector. Created pitchbooks and met and presented the debt issuance programmes to investors and answered questions from portfolio managers and credit analysts. Key member of the team that developed HSBCs Re-Remic programme, which used an internally held, accounting de-recognised CDO which holds pools of ABS assets from within other vehicles and achieved higher ratings (and so significantly reduced RWAs) by looking at likely losses on the pool of ABS rather than the chance of a loss on each asset. RWA savings were eventually over $45bn.

• Portfolio Manager (AD grade)

  • Apr 2007 - Jun 2008

  Portfolio manager of a portfolio of $45bn of ABS and MBS. Trade idea generation and credit analysis in US residential MBS and Bank debt (mostly Lower Tier 2). Portfolio hedging using CDS (including ABX, CMBX, Itraxx and single name ABS and banks). Ran stressed cashflow analysis on the US RMBS portfolio within Intex to quantify expected losses based on best expectations of performance. Developed an in depth understanding of CDS documentation and advised senior management… Show more Portfolio manager of a portfolio of $45bn of ABS and MBS. Trade idea generation and credit analysis in US residential MBS and Bank debt (mostly Lower Tier 2). Portfolio hedging using CDS (including ABX, CMBX, Itraxx and single name ABS and banks). Ran stressed cashflow analysis on the US RMBS portfolio within Intex to quantify expected losses based on best expectations of performance. Developed an in depth understanding of CDS documentation and advised senior management within HSBC Group of the impact of the monoline insurance terms, both for protection bought on wrapped bonds and on the negative basis trading book (ran as a joint venture with Global Markets Trading).



Citi

• United States
• Financial Services
• 700 & Above Employee

• Portfolio Manager (AVP grade), Citigroup Alternative Investments

  • Jun 2005 - Apr 2007

  Junior PM for a global portfolio of investment grade ABS, MBS and bank debt. Trade idea generation based on relative value techniques. Pitched ideas to the senior PMs and credit committee. Ability to trade bonds, swaps and CDS within the mandate. Overall responsibility for hedging exposures to monoline insurers on the HELOC portfolio and hedging embedded interest rate cap risk on US MBS bonds.

• Senior Treasury Associate, Citigroup Global Markets

  • Jan 2004 - Jun 2005

  London, England, United Kingdom Treasury Analytics function looking at trapped liquidity through intercompany relationships, capital usage and funding costs and passing costs of these back to the businesses. Co-ordinated the budget and spending schedule against plan for the Treasurer for his team of 100 people in Europe.



PSA Peugeot Citroen

• Quality Supervisor

  • Aug 2003 - Jan 2004

  Supervised a team of 8 working across 4 shifts analysing and resolving quality issues to reduce costs.



Ford Motor Company

• United States
• Motor Vehicle Manufacturing
• 700 & Above Employee

• Engineer

  • Jan 1999 - Jan 2002

  Rotation in 5 areas of product development and process engineering as well as 3 months in finance.



3M

• United States
• Industrial Machinery Manufacturing
• 700 & Above Employee

• Quality Engineer

  • Jan 1997 - Jan 1998

  Year in Industry scheme placement at 3Ms UK tape manufacturing facility in Wales.