Management Team
The organisational structure of Overlay Asset Management is depicted in the chart below. Overlay Asset Management is governed by its Executive Committee, which is comprised of the following members:
- Hélie d’Hautefort, CEO and Chief Investment Officer
- Philip Bond, Head of Research
- Xavier Lefevre, Head of Portfolio Management Paris
- Ashid Mahmood, Head of Portfolio Management London
- Elizabeth Para, Currency Investment Strategist
- Hai Xin, Head of Overlay Asset Management Asia-Pacific
- Andrew Broadhurst, Global Client Relationship Management and Services
- Yann Rault, Global Chief Operating Officer & Head of Strategic Development
- Arnaud Tanguy, Chief Operating Officer OAM Paris
Overlay Asset Management offers quantitative absolute return programmes in developed and emerging currency markets, as well as a discretionarily managed absolute return currency options programme. The following people are the key senior team members directly involved in the investment process and strategic management of Overlay Asset Management:
Hélie d’Hautefort, CEO and Chief Investment Officer
Hélie has 24 years’ experience in currency management. Before setting up Overlay Asset Management in 1998, Hélie was the manager of a currency fund (Rosebud) for a period of two years. His previous assignments include five years at PSA International, within the exchange-risk management unit of Peugeot Citroën group in Geneva, where he was in charge of the use of derivative products in currency management. Prior to that, he was in charge of currency options trading and their applications to customers in three different banking institutions. He began his career in New York in the currency options market in 1985 within Crédit Lyonnais’ trading room. Hélie graduated from the Ecole des Hautes Etudes Commerciales (HEC), Paris.
Hélie is the Chair of Overlay Asset Management's Executive and Investment Committees, and a member of the Research Committee.
Philip Bond, Head of Research
Philip has 18 years of experience in financial markets both as a quantitative analyst and trader. Previous assignments include arbitrage trading at Credit Suisse and JP Morgan and the development of quantitative trading strategies at Brevan Howard and Peloton hedge funds where he specialised in systematic trading algorithms. He holds a BSc in Physics from the University of Southampton, a DEA in Finance from the University of Paris Dauphine, a DEA in Pure Mathematics from the University of Paris Orsay and a DEA in Applied Non-Linear Analysis from Ecole Polytechnique. He has a visiting fellowship and lectures in the Mathematics Department of Oxford University.
Philip is a member of Overlay Asset Management’s Executive and Investment Committees, and Chair of the Research Committee.
Xavier Lefevre, Head of Portfolio Management Paris
Xavier has 18 years experience in currency management. He is the Head of Portfolio Management and Trading at OAM. Before joining OAM in May 2005, Xavier spent seven years as head of foreign exchange for the Louis Dreyfus Group in charge of hedging and proprietary trading and has experience as treasurer of GIAT industries, managing the Company's foreign exchange exposure. He has also been a trader for two years at Credit Agricole in Geneva. Xavier is graduated from Ecole Superieure de Commerce de Paris (French top 3 business school) and has a master’s degree in applied mathematics from the Paris Dauphine University.
Xavier is a member of Overlay Asset Management’s Executive, Investment and Research Committees.
Elizabeth Para, Currency Investment Strategist
Elizabeth has been working in foreign exchange and global fixed income markets since 1997, both on the investment management and investment banking sides of the business. Prior to joining Overlay Asset Management in 2008, as a Currency Strategist, Elizabeth was Head of Fixed Income Product Engineering at SSgA Europe, where she started up a new European active and absolute return fund business, and was recognised as one of the 100 Rising Stars of 2007 by Financial News. Elizabeth has also worked at Barclays Global Investors, CIBC World Markets, and RBC Capital Markets, in fixed income strategy, trading and sales, and in foreign exchange trading. Elizabeth earned a Bachelors degree in Economics and Finance from the University of Western Ontario, a Masters Degree in Economics from the University of Toronto, and the Chartered Financial Analyst (CFA) Designation.
Elizabeth is a member of Overlay Asset Management’s Executive and Investment Committees.
Dr Hai Xin, Head of Asia Pacific
Dr Hai Xin joined BNP Paribas Asset Management in April 2005. Hai had previously worked as a financial engineer in the Foreign Exchange division of UBS Investment Bank in London for over eight years, advising a diverse group of institutional investors, central banks, private banking clients and multinationals in currency investment and risk management. His book Currency Overlay: A Practical Guide was published by Risk Books in October 2003 and is considered one of the most authoritative works on the subject. Hai transferred to the Equity Capital Market Group in Hong Kong with UBS in 2004 to work on IPOs of Chinese companies in the overseas market. Hai obtained his PhD in Quantitative Finance from the Imperial College, University of London and MSc in Economics from London School of Economics. His BSc in Radio and Electronics was awarded by the University of Science and Technology of China.
Hai is a member of Overlay Asset Management’s Executive, Investment and Research Committees.
Andrew Broadhurst, Head of Client Service
Andrew has 25 years experience in currency management. He joined OAM in April 2004 to spearhead business development and to provide expertise for OAM's marketing and sales efforts worldwide. He started his career in 1985 in the international equity group of JPMorgan IM, London. He was responsible for the creation of a multi currency operating platform dedicated to the management of FX exposures for the firm's global equity business. From 1994 to 2001, he held various responsibilities in JPMorgan IM's currency overlay group in London, first as a currency portfolio manager and then as Chief Operating Officer (COO). From 2002 to 2004, he was involved with Anchorage Capital Partners in London, assisting in the establishment of active currency management and portfolio allocation within a global macro hedge fund. Andrew has a Diploma in Law from the College of Law England.
Andrew is a member of Overlay Asset Management’s Executive Committee.
Yann Rault, Global Chief Operating Officer & Head of Strategic Development
Yann Rault has worked in the finance industry since 1993, when he started his career as a structurer and broker of fixed income products at Banque Indosuez, Paris. He has then held various positions at BNP Paribas, in charge of the credit risk management of a portfolio of large corporate clients (1996 to 1998), as an Inspector of the bank (1998 to 2001), and as a senior analyst with the Department of Strategy (2001 to 2004). Before moving to OAM, he was Head of Corporate Development and Strategy for BNP Paribas Investment Partners (2005 – Jan 2010), the asset management arm of BNP Paribas, where he led multiple acquisition and new joint venture projects. Yann graduated as a civil engineer from Ecole Spéciale des Travaux Publics (Paris), and holds a specialised masters degree from Ecole Superieure de Commerce de Paris.
Yann is a member of Overlay Asset Management’s Executive Committee.
Arnaud Tanguy, Chief Operating Officer OAM Paris
Arnaud joined OAM in July 2006 as a Senior Portfolio Manager, taking responsibility for the management of some of OAM's Pure Alpha portfolios. Previously, he was a bonds and FX Trader with Louis Dreyfus Commodities in Paris, for the proprietary trading desk. Arnaud holds a Master's degree in Applied Mathematics from the University of Caen in France and a Post-Graduate degree in Finance and Insurance from ESSEC Business School in France.
Arnaud is a member of Overlay Asset Management’s Executive Committee.