Benefit from a deep financial technology talent pool

In addition to having few peers in similar lines of investing, our focus on independence and innovation, using comprehensive proprietary technology, and our ability to integrate very different types of fixed income strategies with appropriate levels of leverage and market exposure makes our approach to investing quite differentiated.

Expertise

Icon3The fixed income market is an over the counter market fraught with risk: price obscurity, legal pitfalls and information asymmetries stack the odds significantly against inexperienced players. Yet, everyone needs access to it. With independence from sell-side ideas, strict attention to trade and legal details and strong relationships and reputation throughout the dealer community, we have the experience needed to source liquidity and execute efficiently.

Icon2Fixed income value investing signals are acquired from a well diversified and uncorrelated / uncrowded relative value platform run by Razorbill’s portfolio managers. We make use of fixed income arbitrage, capital structure arbitrage and long / short credit, a combination of strategies that scans across senorities, maturities and reference entities for value, and that has been successfully traded since 2003.

Icon1Our fixed income benchmark replication engine is built on proprietary stratified sampling and optimization to choose the best subset of obligations with the goal of maximizing liquidity levels and minimizing tracking error. Our data-mining technology allows us to screen market movements, index constituent changes, corporate actions and rating changes for the purpose of efficient replication and rebalancing.

Risk/return asset allocation is embedded through an extensive risk metrics platform made available intraday both to the portfolio managers and the risk management team. Our state-of-art live-fed toolbox cover scenario analysis, sensitivity measures and value at risk, both at the individual and portfolio levels.

Team

Pierre-Philippe Ste-Marie

Pierre-Philippe Ste-Marie, CEO, Portfolio Manager

A co-founder of Razorbill, Pierre-Philippe is responsible for position execution, reporting and analytics. He has a B.A. in Economics from McGill University and a MS in computational finance from Carnegie Mellon. In 1997, he joined National Bank of Canada where he built the fixed income options market-making book, successfully introducing new products to the bank. In 2001, after he completed his Master’s degree, Pierre-Philippe cofounded National Bank credit derivatives desk.

Hugues Sauve

Hugues Sauvé, CIO, Portfolio Manager

Hugues Sauvé holds a M.Sc Finance from HEC Montreal and is a CFA charter holder. In addition to an extensive experience acquired at UBS Global Asset Management (1999- 2004) and at National Bank of Canada (2004-2013), Hugues has developed a thorough expertise in fundamental analysis and relative value trading within various parts of the credit markets. M. Sauvé joined Razorbill Advisors in 2015, as Chief Investment Officer.

Robert Hesselbo

Robert Hesselbo, CTO / Chairman of the board

A co-founder of Razorbill, Robert is responsible for technology, models & analytics. Robert has a Master’s in Applied Mathematics from Cambridge University and a Ph.D. in Theoretical Physics from Oxford University. From 1995 till 2004, he was CTO of Oxford Virtual Market where he built an innovative, patented, automated market making system designed to optimize liquidity on financial exchanges. Robert joined the credit derivatives desk at National Bank of Canada in 2004.

Sylvain Crouzet

Sylvain Crouzet, CFO / CRO / Treasurer

A co-founder of Razorbill, Sylvain is responsible for models & analytics and risk management. Sylvain has a B.Eng. from ParisTech ENSTA, a Master’s in Economics from Univ. Paris VI, and a Ph.D. in management science from Ecole Polytechnique of Montreal. Before joining the credit derivatives desk at NBC in 2006, Sylvain applied his expertise to building optimization-based IT solutions in the fields of energy at EDF, and transportation at GERAD.

Roger Kenyon

Roger Kenyon, Head of Capital Raising

Roger holds degrees from York University and University of western Ontario in applied Mathematics. He held a senior position at a US based investment management company where he managed a capital structure arbitrage strategy. From 1995-2002 he was head of market risk management and created a hedge fund Program for the National Bank of Canada. He headed global swaps for CIBC from 1986-1991 where he was VP and Director of Capital Markets and member of the Capital Commitment Committee. From 1992-1994 he was a Managing Partner at Techtrans, a Toronto based risk consulting partnership.

Arthur Tishkevich

Arthur Tishkevich, Director of operations / Compliance

Arthur is responsible for day-to-day operations at Razorbill. Arthur has a BComm in Finance from Concordia University and previously worked with the Razorbill team at National Bank of Canada from 2007 to 2009. He also worked at CIBC and at the Canadian Depository for Securities (CDS) before joining the team on the first day of operations.