Panelist for Financial Innovation in the 21st Century: Sales & Trading Perspective: Bruce Phelps

Managing Director, Senior Quantitative Portfolio Strategies, Barclays Capital

Bruce Phelps is a Managing Director and Senior Analyst in the Quantitative Portfolio Strategy Group at Barclays Capital, based in New York.  He is responsible for conducting empirical studies to evaluate investment strategies on behalf of major institutional investors and official institutions; the development of portfolio management tools; the design of custom benchmarks; and the development of liquidity cost scores.

Dr. Phelps joined Barclays Capital in 2008 from Lehman Brothers where he was Managing Director in Quantitative Portfolio Strategy for 9 years.  Prior to that, he was an Institutional Portfolio Manager (specializing in MBS) and Head of Fixed Income at Ark Asset Management in New York.  Dr. Phelps was also Senior Economist at the Chicago Board of Trade where he designed derivative contracts and electronic trading systems; and International Credit Officer and Foreign Exchange Trader at Wells Fargo Bank.

Dr. Phelps was graduated with an A.B. (Economics) from Stanford University and a Ph.D., (Economics) from Yale University.

Publications, besides Lehman and Barclays publications, include: “Using Treasury Bond Futures to Enhance Total Return,” Financial Analysts Journal, Jan/Feb 1990; “Electronic Trading, Market Structure and Liquidity,” Financial Analysts Journal, Jan/Feb 1994; “Tradable Proxy Portfolios,” Journal of Fixed Income, December 2001; “Optimal Credit Allocation for Buy & Hold Investors,” Journal of Portfolio Management, Summer 2004; “Managing against the MBS Index,” Handbook of MBS Securities, McGraw Hill, 2006; Quantitative Management of Bond Portfolios, Princeton University Press, 2007; and “Alpha-Beta Recombination:  Can Synthetic Fixed Income Compete with Traditional Long-Only Managers?”, Journal of Portfolio Management, Winter 2009.

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