Diego Ferro
| Diego Ferro | |
|---|---|
| Born | Argentina |
| 🏡 Residence | Greenwich, CT |
| 🎓 Alma mater | Dartmouth College, MBA Business and Economics, With Distinction |
| 💼 Occupation | Co-Chief Investment Officer, Portfolio Manager, Partner |
| 👔 Employer | Greylock Capital Management |
| Known for | Emerging markets, Sovereign debt |
Diego Ferro (b. August 9, 1966) is an Argentinian portfolio manager and commentator on financial markets. He is Co-Chief Investment Officer, Portfolio Manager and Partner at Greylock Capital Management, LLC (Greylock Capital)[1], an alternative investment advisor headquartered in New York City.
Biography[edit]
Early Life[edit]
Diego Ferro was born in 1966 in Punta Alta and grew up in Buenos Aires. He earned five-year BAs in Business (1988) and Economics (1989) from the Universidad Católica Argentina (Buenos Aires), graduating in both instances first in his class. In 1991, he moved to the US, where he earned an MBA at The Amos Tuck School of Business Administration (Dartmouth College) and graduated with Distinction as an Edward Tuck Scholar (1993).
Professional Career[edit]
Ferro began his career working in large privatizations for Banco Rio de la Plata (Argentina) where he was a member of the International Division involved in telecom, oil and transportation principal transactions. In 1993 Ferro joined Lehman Brothers where he concentrated on trading and structuring fixed income derivatives transactions. In 1996 he moved to Citibank, and to Morgan Stanley in 1997. He spearheaded and managed the Local Markets Trading and Structuring Teams, including opening and managing the bank operations in Brazil.[2]
In 1998, Ferro was credited with the creation of a “new type of transaction - called a Floating-Rate Adjustable Note - that emphasized liability inversion.” Due to Latin American investor frustration with continual price swings in their bond portfolios, and the need to raise dollars in the depressed market of the Republic of Argentina, Ferro “came up with a very clever solution for both problems. He designed a US-dollar-denominated seven-year bond issue whose coupon was set to yield on another “benchmark” Argentine bond issue. If the market for the Argentine benchmark bond had strengthened during a coupon period (and consequently its yield declined), the next coupon would be reduced, whereas if it had weakened, it would be increased.”[3] Due to this FRAN structure, the bond was voted Latin America Bond of the Year, 1998, IFR Review of the Year[4], and the Institutional Investor Bond of the Year. In 2001, Ferro was charged with the local market trading operation, including MS banking operations in Brazil. In 2006, he oversaw the Capital Markets and Structuring Group for Latin America.
In 2007, Mr. Ferro joined Goldman Sachs & Co., Inc. as co-head of Latin America Fixed Income Trading and Structuring. He headed the New York and South American operations, which included market making in emerging market debt, proprietary trading and deal structuring in currencies, rates, credit trading and illiquid risks (asset backed securities, loans and hybrid securities).
In 2009, he joined Greylock Capital Management, LLC as a portfolio manager, and was named Partner in 2010 and Co-Chief Investment Officer in 2012.
Ferro is a regular and sought after speaker at conferences, as well as a contributor and commentator in Op-Ed columns and on TV, where his focus is risk management and debt restructuring. He is noted for his frank discussions on countries that are facing financial crises, sush as Argentina[5][6][7][8], Venezuela[9][10][11][12], Mexico[13], Brazil, Greece[14][15][16][17][18], and Cyprus, as well as the American Society/Council of Americas, and international events.
Personal[edit]
Ferro lives with his wife in Greenwich, Connecticut and has four children. He serves on the Latin-American advisory board of The Amos Tuck School.
References[edit]
- ↑ Greylock Capital Management LLC "Greylock Capital Management LLC"
- ↑ Bloomberg "Profile Diego Eduardo Ferro"
- ↑ Pettis, Michael (May 17, 2001). The Volatility Machine; Emerging Economics and the Threat of Financial Collapse. Oxford University Press. p. 162. ISBN 0195143302. Search this book on
- ↑ IFR "Review of the Year 1998 - Latin American Borrower of the Year"
- ↑ Le Nacion "Afirman que "el segundo semestre" llegará recién en 2017"
- ↑ Bloomberg "Diego Ferro discusses the U.S. Supreme Court’s decision not to hear Argentina’s appeal"
- ↑ New York Post "Supreme Court rejects Argentina Appeal Over Defaulted Bonds"
- ↑ Bloomberg "What Argentina's Macri Needs From Trump"
- ↑ CNBC "Venezuela is making 'surreal, suicidal' debt payments"
- ↑ AS/COA "Venezuela and PDVSA's Bonds: What to Expect"
- ↑ Insider Monkey "Hedge Fund News: Marc Lasry, Warren Buffett & Marcato Capital Management"
- ↑ Caracas Karma "The Contrarian’s Take: Why PDVSA Might Not Default"
- ↑ Bloomberg"US Stands to Suffer in Border War with Mexico"
- ↑ Bloomberg "Greylock Capital is Long on Greece, Co-CIO Ferro Says "
- ↑ Ekathimerini.com "Greece’s onds set to extend advance as SYRIZA wins election"
- ↑ Reuters "Greek private debt holders ride out public strain"
- ↑ NPR "How Default Could Push Greece Out Of The Eurozone"
- ↑ Institutional Investor "Hedge Funds Gravitate Towards Greece"
External links[edit]
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