Investment accounts

Authorised and regulated by the UK’s FCA to provide investment accounts, we are bound by CASS rules to segregate and protect client assets.

November 2019 investment update

October was a surprisingly good month but the wall of worry mounts, writes our Head of Investment Management, Simon Black. Download your copy of our November 2019 investment update and watch our briefing video to find out more.

How we’ll live then

Escape to the country? Not for most of us. Experts reckon the world in 2050 will be dominated by ‘megacities’. What will they be like to live in? Here are some ideas…

Dolfin launches Private Investment Club

Today we announced the launch of our Private Investment Club. The new offer is available to existing clients, providing exclusive, pre-screened investment opportunities across a variety of sectors and regions.

Investment Committee Secretary and Consultant to the Board

Phoebus Theologites

Biography

Phoebus has 27 years’ experience as complex derivatives trader (18y) and asset manager (9y) across all asset classes. He spent the first half of his sell-side career trading ‘exotic’ and long-dated FI, FX, CR and hybrid derivatives at Bankers Trust, Credit Suisse and Bear Stearns, and the second half trading and structuring ‘exotic’ EQ, hybrid and strategic derivatives at Gen Re Securities, CDC-IXIS, TD Securities and ABN-AMRO/RBS. During this time, he served variously as global head of quantitative trading, structuring, execution and trading risk, set up or restructured client and proprietary desks globally, and advised/supervised both discretionary and systematic positioning and risk management, relying on his own pricing and risk- management analytics, by dint whereof he was serially referred to, and depended on, by colleagues as ‘the trader’s trader’.

As structurer, Phoebus is credited with the invention of several complex payoffs, some reproduced verbatim as exemplars in the derivatives industry’s standard reference (Wilmott’s Quantitative Finance); other highlights include the first-ever model and trading system for first-to-default credit derivatives at Bankers Trust (Mar-93) and the ‘deal of the year’ for W. Buffett’s Gen Re (Oct-01 – a complex strategic hedge for a major Canadian bank). As trader, he has inter alia successfully managed up to $450M short gamma and $14M long vega, restructured a prop-trading business (45 traders / 13,500 positions) after first stabilizing it with just 11 trades, and established an auditable/attestable track record of cross-market calls. As head of trading risk, he (re-)defined VaR, ‘Greeks’, correlation and gap limits post-GFC for RBS Equities (20 businesses / 5 centres).

Phoebus moved to the buy-side at the invitation of one of the top commodities traders of the 20th c. (dec. 2013), with whose family and others he co-founded a MFO as CIO, advising UHNWIs on liquidity and IB/SF exercises in O&G, mining, shipping and telecoms. Having sold his stake, he then co-founded multi-award-winner SteppenWolf Capital and launched its first two UCITS (GM&FI). Concurrently, he was head of AM at the Swiss affiliate of Dolfin Financial (UK) and GM of a Cayman SPC. By dint of his cross-border legal, tax, regulatory, accounting and governance expertise (15 directorships / 9 jurisdictions), Phoebus is often privately engaged by attorneys, tax advisors, accountants and fiduciaries for specialist legal drafting and complex structuring, and has served repeatedly as MLRO, FATCA RO & CO both in CH and in several offshore jurisdictions.

From mid-2015 to late 2018, Phoebus applied his ‘multi-R’ (risk, return, resilience, replication, regime, rank, ratios, run-rate, regulation) product/business analysis & reporting framework to the assessment, challenge and improvement of the product shelf of UBS AM, advising its CEO, COO, CFO & EC on risk exposures and performance drivers of strategic AuM & PbT targets. Due to his ancillary skills, he also participated by invitation in strategic (M&A), finance (RWA/LRD), accounting (IFRS10/IAS39) and regulatory (BCBS/ESMA/FINMA/FCA/CSSF/BaFin) projects at UBS AM, GEB & Group CEO levels. Currently, he is IC member and retained consultant on IM, KYC, BD & IT matters to the Boards of Dolfin Financial (UK&MT), and continues to manage (since 2010) the portfolios of a small number of HNW private clients at both leading Swiss banks.

Contact Details

50 Berkeley Street, London W1J 8HA

+44 20 3700 3888

[email protected]

LinkedIn

Education
MPhil in Finance from the University of Cambridge MSc in (Mathematical) Economics from the London School of Economics BA cum laude in Economics from Harvard University
Sector expertise
Asset management Derivatives trading Structuring
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