Meet the team

MarkhamRae has an experienced team; the core investment team has a ten year track record, with an average of twenty years in the investment industry. Part of our team have worked together since 2004. We have a partnership structure with eighteen staff, 7 of whom are investment professionals.

Our interests are aligned with that of investors – we self invest.

Jonathan Martin - Chief Executive Officer and Chief Risk Officer.

Jonathan co-founded MarkhamRae in late 2009 with Christopher Brandt. He acts as CEO and CRO. Prior to MarkhamRae Jonathan spent seven years at BlueCrest and seven years at JPMorgan.

Jonathan studied Philosophy, Politics and Economics (PPE) at Oxford and has thirty years of capital markets experience.

Christopher Brandt - Chief Investment Officer.

Christopher has twenty years experience in trading fixed income and foreign exchange derivatives, the first six in a market making capacity and the last fourteen as a proprietary trader. He was previously Head of Strategic Trading at BNP Paribas in London, managing a team with expertise in trading fixed income and foreign exchange derivatives in G20 currencies using a combination of macro and relative value approaches.

Previously, he was a director at Credit Suisse Financial Product, London, heading European Interest Rate Options before moving to Proprietary Trading in local currency emerging Markets.  He has a Degree in Politics, Economics and Law from Buckingham University and a MSc in Foreign Service and International Business Diplomacy from Georgetown University.

Jasvinder Mahil – Senior Discretionary Portfolio Manager.

Jasvinder was previously a relative value and macro proprietary trader at BNP Paribas in the Arbitrage and Strategic Trading Group since 2004, specialising in interest rate derivatives. He was formerly a relative value and macro trader at RBS Financial Markets/Greenwich NatWest as well as Head of Relative Value Trading and Research for 9 years.

Jasvinder previously worked at S. G. Warburg. He has a BSc (Hons) Computer Science, Brunel University and an MSc Mathematical Trading and Finance, City University.

Thymis Carolides – Senior Discretionary Portfolio Manager.

Thymis was formerly a senior trader on the strategic trading and fixed income desk of BNP Paribas, London since 2005.  He was previously CEO of Alektor Investment management Ltd, London, and a founding partner and Director of Omnia Asset Management London.

He was Head of Treasury Markets at Nomura International PLC, Director of Proprietary Trading at CSFB and Bankers Trust Company and Vice President,  FX Options Trading at Citibank London. He has a PhD in Banking and Finance, City University, MSc Economics from London School of Economics and BSc Economics, University of Athens, Greece.

Luigi La Ferla - Partner, Trade Finance Team.

Luigi La Ferla is a Senior Portfolio Manager with a 30-year track record as a senior industry participant in trade finance.

He was a main board member and Head of Trade Finance activities at Morgan Grenfell and Head of International Trade Finance at Deutsche Bank.

In 1999, Luigi established LTP Trade to assist the trade finance industry in addressing the challenges emanating from proposed Basel II regulatory changes and to assist clients with the pricing and management of capital allocated to trade finance. In 2006 he joined BlueCrest Capital Management and established the BlueCrest Mercantile Fund, of which he was the lead portfolio manager. The Mercantile Fund was the first institutional fund to capitalise on opportunities in Trade Finance.

 Luigi was a founding member of World Trade Capital Partners and in 2014 joined MarkhamRae to establish the Trade Finance Partners Fund.

Luigi has extensive knowledge of the implications of CRD IV in the European bank regulatory landscape and has detailed knowledge of credit derivatives and CDOs, enabling him to structure transactions focussed on the reduction of Pillar I regulatory capital used by bank trade finance departments in full compliance with Pillar II.

Luigi holds a Masters Degree in Economic and Social Sciences (DES) from Bocconi University in Milano.

Cameron Christie - Partner, Trade Finance Team.

Cameron Christie has 10 years experience in the financial industry. He was a member of World Trade Capital Partners, working alongside Luigi. Prior to that, he spent six years with BlueCrest, exclusively as a Book Runner for the Mercantile Funds since 2008.

In this role, he was responsible for systems development, profit & loss and risk monitoring. He was deeply involved with trade structuring, modelling and valuation and helped the fund successfully close a number of trade finance securitisation transactions. He was “point-of-contact” for the fund with all internal departments including operations, product control, risk, investor relations, and legal and helped to establish a systemised fund reporting process.

He executed a wide variety of hedging strategies for credit, commodity, equity, FX and interest rate exposures.

Cameron holds an MSci in Astrophysics from University College London.

Giles McClelland - Chief Operating Officer and Chief Compliance Officer.

Giles was formerly Global Head of Hedge Fund development and a member of the Management Committee of Man Global Strategies, Man Investments (the Asset management Division of Man Group Plc); a multi-manager, multi-strategy business which invested in early and mid-stage hedge fund managers, almost exclusively through managed accounts.

He had responsibility for providing investment oversight, and management of the business, operational and compliance risks associated with a portfolio of approximately fifty hedge fund managers in Europe, America and Asia. He has eleven years of direct industry experience, prior to which he worked in the Corporate Finance team in the Man Group Agricultural Division. He has an MSc in Agricultural Economics from London University.

Kerry Duffain – Head of Distribution.

Kerry Duffain joined MarkhamRae in November 2011 from BlueCrest Capital Management where she was Global Head of Consultant Relations and Head of the UK and Australian Institutional businesses.  Prior to this she was Global Head of Consultant Relations at Pioneer Global Investments and European Head of Consultant Relations at Citigroup Asset Management.

She previously headed European Client Service at JP Morgan Asset Management and prior to this was Head of Client Service at SSgA, where she was also the Multinational Product Specialist.  Kerry has 20 years experience in the institutional marketplace.

Christopher Brayne - Head of Systems Development.

Chris has technical experience in developing solutions across a variety of frameworks. He previously worked in the BNPP Fixed Income group as a developer and support analyst.

He has an MA from Cambridge University in Economics and has experience both on the technical, programming side, as well as familiarity with financial modelling. He can develop using a variety of tools such as C++, C# .Net, SQL, VBA, XML, Python, Javascript.

Why invest?

Discretionary Macro

Low correlation to equity and fixed income asset classes providing an uncorrelated return to traditional assets.
Focus on absolute return: capital preservation is at the heart of what we do.
Experienced team with long tenure.

Trade Finance

Short term, collaterised and self-liquidating.
Low correlation to other banking activities.
Proven team with sole focus on Trade Finance.