William McCarthy, CFA

Experience

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  Rampart Investment Management

  Jan 1986 - Jan 1988

  Equity Options Trader

  • Worked directly with the portfolio manager of the MacKenzie Option Income Fund; an S&P 100 (OEX) stock index fund with assets of $300M. Developed, analyzed, and implemented advanced hedging strategies which utilized OEX and SPX stock index options.• Reviewed and executed all equity, equity option, and index option trades for our corporate cash accounts. The primary investment strategies for corporate customers included dividend capture programs, stock index buy-writes, and overwriting.

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  State Street

  Jan 1989 - Jun 2018

  • Responsible for the currency trading activities in North America in spot, forward, options, and emerging markets.• Managed a team of 11 market making traders with a total 2018 market making revenue goal of $95M. From 2008 through 2017, the North America trading team exceeded their revenue goal in eight of those ten years. • Collaborated with ERM(Risk) and Compliance divisions to supervise the FX Trading team’s compliance with Volcker Rule and Dodd-Frank regulatory requirements. • Worked closely with the eFX trading team on the evolution, implementation, and risk management of our eFX product. The North America trading team was responsible for the eFX principal positions during North America trading hours.• Developed and maintained new client relationships with hedge funds and institutional accounts which increased market share and revenue.• Interacted globally with Trading and Sales managers in EMEA and APAC to coordinate risk management of global positions and liquidity provision to our global customer base. • Represented State Street at the Chief Dealers Working Group which was sponsored by the Federal Reserve Bank of New York.• Voting member of State Street’s Country Risk Committee and State Street’s Swap Dealer Senior Management Committee. Show less • As a member of the currency trading team, provided on demand prices in spot, forward, and NDF foreign exchange markets. Managed currency risk and took proprietary positions. Provided the sales team with commentary of pertinent market information. • Managed the bank’s currency option book on a global basis. Provided customers with on demand OTC option prices, often in competitive situations. Responsible for the dynamic hedging of the option book by utilizing the bank’s global order management system.• Managed the bank’s $2B interest rate derivatives book. Priced and hedged of all of the bank’s interest rate derivative products. Utilized Eurodollar futures to establish synthetic interest rate swaps to hedge balance guaranteed amortizing swaps. Priced and hedged interest rate caps based on Eurodollar options. Priced and hedged the bank’s S&P 500 equity linked CD program. • As a member of the FX Sales team, managed relationships with institutional investment managers, including providing them with hedging and trading strategies. Show less

  • Senior Managing Director / Head of North America Risk Trading

    Jan 2008 - Jun 2018

  • Managing Director / FX, FX Options, and Interest Rate Derivatives Trader

    Jan 1993 - Jan 2008

  • Derivative Products Trader, Repo Trader

    Jan 1989 - Jan 1993
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  Self-employed

  Jan 2019 - Aug 2023

  Private Investor
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  Carapace Financial Advisors

  Jul 2023 - now

  Managing Director

  Carapace Financial was established in 2017 with the goal of protecting clients from market losses through customized hedging and investment strategies. With decades of experience in delivering wealth preservation solutions, the Carapace team specializes in providing targeted Separately Managed Accounts, Private Funds and Market-Linked Notes to its institutional and Accredited Investor clients.