Marc Packles
Marc Packles began a successful career in derivatives trading and structuring after graduating with a Bachelor of Science in Finance and a Bachelor of Science in Engineering from University of Pennsylvania in 1996. Fresh from college, he accepted a position at Citigroup Inc., joining the company's exotic equity derivatives trading group. The first years at Citigroup were formative, and Marc Packles had the opportunity to trade and master the intricacies of various financial derivative products with a focus on structured and exotic derivatives. While working on diverse trading desks that required different sets of skills, Mr. Packles branched out into three main areas of expertise: equity derivatives, mortgage trading, and hybrid capital securities. Each of these areas marked his career at three different points in time, often overlapping each other.
From 1996 to 2002, Mr. Packles served as Director of Equity Derivatives and was a Senior Trader on the desk. He mastered the institutional usage of the OTC market in both the United States and Europe. Deep product knowledge, market making, structuring, risk management, strategy implementation, and fundamental analysis constituted Marc Packles’ main concentrations.
Following his study of equity derivatives, Marc Packles spent a period trading U.S. agency mortgage derivatives before being asked to start the hybrid capital trading business for Citigroup in 2004. Mr. Packles' focus on hybrid capital securities enabled him to develop a successful trading business focusing on trading, risk management, and structuring of these complex securities. While developing Citigroup's trading business framework, he accepted a position as Director of Mortgage Trading in 2002. He oversaw the mortgage group's trading, hedging, and structuring operations for two years. Then, until he left Citigroup in 2008, Mr. Packles focused on hybrid capital securities. During that time, Marc Packles had the opportunity to supervise very significant transactions.
His extensive experience and the versatile set of skills he developed at Citigroup opened many doors for Mr. Packles, and in 2008, he transitioned to Lehman Brothers Holdings Inc., where he currently serves as Managing Director and Co-Head of Derivatives Trading.
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