Brent Snyder
Summary
Accomplished interest rate swap trader with 20+ years of exemplary performance seeking to further career in the financial sector, and to leverage extensive experience, strategic insight, strong client relationships, and a proven track record of success.
Overview
21
21
years of professional experience
1
1
Certification
Work History
Director - USD Interest Rate Swap Trader
Wells Fargo
03.2018 - 11.2023
- Expanded mandate to trade both STIR and medium-term swaps, managing both outright duration and swap spread risk
- Handled libor transition and introduction of SOFR as primary index
- Responsible for all basis risk (sofr/libor, sofr/fedfunds, sofr/prime, sofr/bsby), clearinghouse risk (LCH vs CME), and reset risk for the USD swap books
- Built out term sofr capabilities for desk, creating and marking the term sofr curve, managing all pricing of term sofr swaps and associated reset risk of this portfolio
- Provided market liquidity for entire client base, including hedge funds, central banks, asset managers, GSEs, financial institutions and corporates
- Focused on building the franchise as a sales trader, regularly traveling to meet with clients in person and collaborating on trade ideas to cement lasting relationships
- Continually generated annual revenues $50mm+, topping $100mm the last 3 years
- Trained skilled junior traders who have been very successful within firm
Director - Synthetic Funding Desk
Wells Fargo
05.2012 - 11.2023
- Executed Bond Forwards, Treasury Locks and Total Return Swaps
- Managed portfolio of over 8bln in notional of US Treasuries and STRIPS
- Responsible for pricing and managing duration, treasury rolls, and funding risk
- Worked closely with sales and internal treasury groups to manage balance sheet usage and returns on funding risk
- Grew funding book revenue from under $10mm per year to over $50mm annually, topping over $150mm in 2020
Director - Short End Rates Trader
Wells Fargo
05.2012 - 03.2018
- Combined short-end derivative desk with USD cash traders (Short coupons, Bills, and Agencies)
- Head STIR trader responsible for all USD swap risk inside 3yr while continuing to manage basis and reset risk for all swap books
- Priced and managed asset swaps vs both on-the-run and off-the-run US Treasuries
- Collaborated with sales team on trade idea generation and building of client relationships
Associate - USD Interest Rate Swap Trader
Wells Fargo
07.2010 - 05.2012
- Integrated legacy swap books from merged banks and managed combined basis and reset risk for entire desk
- Expanded to price interest rate swaps for larger institutional clients
Swap Trading Analyst
Wachovia Bank
02.2007 - 07.2010
- Traded interest rate swaps, eurodollar futures and US treasuries
- Responsible for retail and corporate client swaps
- Managed all floating rate basis for desk (libor/libor, libor/fedfunds, libor/prime)
- Managed all libor reset risk for swap books
Middle Office Analyst
Wachovia Bank
07.2004 - 02.2007
- Supported USD interest rate swap trading desk
- Handled both middle office responsibilities of risk/PnL and trading assistant role supporting all functions of desk
Energy Trading Analyst
Progress Ventures
06.2002 - 06.2004
- Supported natural gas and oil traders as trading assistant
- Learned use of derivatives as both physical hedging tool and market speculation
- Responsible for maintaining risk and PnL for trading desk
Education
Bachelor of Science in Business Administration - Concentration in Finance
University of North Carolina At Chapel Hill
06.2002
Certification
Series 7 and Series 63
Timeline
Director - USD Interest Rate Swap Trader
Wells Fargo
03.2018 - 11.2023
Director - Synthetic Funding Desk
Wells Fargo
05.2012 - 11.2023
Director - Short End Rates Trader
Wells Fargo
05.2012 - 03.2018
Associate - USD Interest Rate Swap Trader
Wells Fargo
07.2010 - 05.2012
Swap Trading Analyst
Wachovia Bank
02.2007 - 07.2010
Middle Office Analyst
Wachovia Bank
07.2004 - 02.2007
Energy Trading Analyst
Progress Ventures
06.2002 - 06.2004
Bachelor of Science in Business Administration - Concentration in Finance
University of North Carolina At Chapel Hill
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