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RICH TANENBAUM
Rich Tanenbaum
began his Wall Street career during breaks from college, working
as the right-hand man for the most active floor trader at Comex,
the leading precious metals futures exchange. This job "in the pits"
taught him how markets function at their inner core. After graduating
with a math degree from Dartmouth College, Rich attended the Wharton
School, where he received an MBA in finance. During the Wharton
summer break, he worked for an options trader on the Pacific Coast
Stock Exchange, where he wrote a computer software package on one
of the first personal computers, the Apple II.
Upon graduation
from Wharton, Rich joined the Investment Management Group at Bankers
Trust. This job entailed developing new products for the bank's
money managers, most of which required sophisticated mathematical
models. To promote these products, Rich pitched them to pension
funds, money managers and insurance companies, and successfully
garnered several billion dollars for management by Bankers Trust
using these new products. After four years, Rich moved to the trading
floor at Bankers Trust, where the bank managed its own money as
a primary dealer in Treasuries and Foreign Exchange. His transfer
to this department precipitated the inception of the Bankers Trust
Derivative Products Group, the first OTC derivatives on Wall Street.
The pioneering group quickly established itself as the market leader
in derivatives, with several hundred million dollars in profits
during Rich's tenure. Rich was the Director of Research for the
group, responsible for the mathematical models used to price, trade
and hedge the bank's positions.
After eight
years at Bankers Trust, Rich left and founded Savvysoft in 1990.
At Savvysoft, Rich developed TOPS 2000 -
Tanenbaum Option Pricing Software, a group of financial models for
valuing exchanged-traded and OTC derivatives. This marked the first
time that the models used at a premier derivatives trading house
were made available to the commercial marketplace. The types of
options valued by TOPS 2000 span the entire gamut of exotic options
and derivative products. TOPS 2000 was so well received by the institutional
marketplace that it has become the world's most widely used set
of OTC options valuation and risk analysis software.
At Savvysoft,
Rich has been highly sought after by major corporations and financial
institutions for his expertise in the valuation and risk management
of exchange-traded and OTC derivatives. Rich's experience in risk
measurement dates back to his work at Bankers Trust, where he helped
develop and design the bank's RAROC 20/20 risk management system,
and used a pioneering Monte Carlo approach to handle the asymmetric
payoffs of options.
Today TOPS 2000
is trusted by over 700 of the world's leading investment bankers,
commercial bankers, corporate treasurers, money managers, regional
bankers, hedge fund managers, auditors, controllers and consultants
in over a dozen countries around the world.
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