Henry Swormstedt
Summit,NJ
Overview
21
21
years of professional experience
Work History
Global Manager - Middle Office
Davidson Kempner Capital Management
01.2021 - Current
- Manage global team of 14 team members serving function of middle office trade support across New York (3), London (3), Hong Kong (3), and India (5). Team manages life cycle of all trading for equities, fixed income, converts, swaps, derivatives, and F/X.
- Face of team to partner with all other back-office verticals including Asset Servicing, Product Control, Fund Accounting, Tax, Legal and Compliance.
- Recommend, present and achieve sign off from partners to onboard Access Fintech’s Settlements module. Implement next generation trade exception management platform to replace Bloomberg Fail Station. Explore their solutions for other asset classes.
- Instrumental in installing third-party team of consultants under co-sourcing model to manage daily reconciliation process across operations and middle office with oversight from Middle Office team. Install global support model to best fit firms needs by decentralizing global operations from United States
- Install Follow the Sun model to provide around clock coverage for all global trading desks
- Point person for managing relationships with Prime Brokers and Custodians including scheduling periodic in person meetings and conducting scorecard reviews
- Influential in implementing organizational overhaul of how Middle Office and Operations team are aligned.
- Manage vendor relationships and contracts across various industry utilities including DTCC, ICE, Bloomberg, and Traiana
- Conduct operational due diligence meetings with investors in conjunction with investor relations team
- Influential in designing and implementing trade order flow process originating from Portfolio Managers tool into OMS and to be finalized by Trading desks
- Install Follow the Sun model to provide around the clock coverage for all global trading desks
- Chair working group for US T+1 Readiness that consisted of members of management, technology, treasury, and middle office / operations. Onboard DTCC’s Match to Instruct utility. Enact firm’s policy for late trading in US market.
- Manage bookings for private transactions and fundings in both private equity and credit. Develop infrastructure for transactions to be directly booked to SPVs in allocation tool. Spin-off direct report to take booking of these transactions to new team
- Influential in implementing organizational overhaul of how Middle Office and Operations team are aligned.
- Drive operational aspects of firm’s launch of new reinsurance fund product. Onboard custody accounts required and pivot several processes from a prime broker to custodian model
- Influential in implementing organizational overhaul of how Middle Office and Operations team are aligned.
- Overhaul allocation procedures in conjunction with master feeder fund reorganization.
Middle Office Manager - NY Team
Davidson Kempner Capital Management
01.2015 - 12.2020
- Manage team of 3 team members to support Equities, Fixed Income and Converts Trading desks with all core middle office functions. Duties include trade bookings and allocations, trade life cycle, security setup
- Order Management System (OMS) implementation including pre-trade compliance, FIX flows, testing on behalf of front office and post trade tools. Key role in implementing several version upgrades
- Recommend, design and implement reconciliation tool between OMS and Accounting system to mitigate risk
- Spearhead OTC Derivatives initiative for CDS and Interest Rate Swaps. Implement workflows connecting ICE, CME, and LCH with FCM’s. Train traders on Bloomberg SEF execution
- Migrate trade matching utility from DTCC’s Oasys product to CTM. Onboard both fixed income and converts to electronic matching when historically manually matched and allocated
- Design and implement robust trade history reporting still used today by all members of firm
- Develop and refine various reporting tools used by management to monitor commissions, trade volume and cancel corrects
- Developed emergency version for trade allocation tool to deal with massive trade volumes at onset of the pandemic so that firm could continue to operate normally without interruption
Middle Office - Senior Analyst
Davidson Kempner Capital Management
06.2008 - 01.2015
- Manage all middle office functions for team of equity and fixed income traders on a rotation serving multi-strategy investment firm
- Review F/X exposure on daily basis with portfolio managers, analysts, and traders and complete F/X execution as necessary
- Develop firm-wide allocation procedures for multiple securities across various funds and complete daily allocations
- Active daily oversight of middle office team members and served as team lead in Managing Director’s absence
- Complete daily risk reporting for Event Driven equity portfolios to be reviewed by firm management
- Partner with in-house IT team for development and support of all front office and middle office software applications.
Middle Office Analyst - Equity Trade Support
JP Morgan
06.2006 - 06.2008
- Manage all middle office trade support functions for International equities trade desk (Latin America, Europe, Asia)
- Support equity traders for all ad-hoc requests including pricing inquiries, instrument setup, risk issues, and rebooking trades
- Perform all daily trade reconciliation procedures and resolve all trade break issues in timely fashion
- Complete daily P&L reporting and obtain sign-off from the head Managing Director of equity trading
- Act as liaison for front-office with various back office operations groups on all settlement issues
- Negotiate discounted ADR fees with designated conversion agents for front-office on issuances and cancellations.
Junior Trader
Kabrik Trading LLC
11.2005 - 06.2006
Operations Manager / VP Sales & Operations
Exgen Securities LLC
01.2005 - 10.2005
Financial Management Associate
Ernst & Young LLP
07.2003 - 01.2005
Education
B.S. in Industrial Engineering (Operations Research) -
Lehigh University
Bethlehem, PA05.2003
Skills
Bloomberg, Charles River, DTCC, Traiana, OSTTRA, ICELink, FIX
Previously held NASD Series 7, 63, 55, 4 (2005 – 2008)
Timeline
Global Manager - Middle Office
Davidson Kempner Capital Management
01.2021 - Current
Middle Office Manager - NY Team
Davidson Kempner Capital Management
01.2015 - 12.2020
Middle Office - Senior Analyst
Davidson Kempner Capital Management
06.2008 - 01.2015
Middle Office Analyst - Equity Trade Support
JP Morgan
06.2006 - 06.2008
Junior Trader
Kabrik Trading LLC
11.2005 - 06.2006
Operations Manager / VP Sales & Operations
Exgen Securities LLC
01.2005 - 10.2005
Financial Management Associate
Ernst & Young LLP
07.2003 - 01.2005
B.S. in Industrial Engineering (Operations Research) -
Lehigh University
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