Paul Varotsis becomes non-executive director of Codefarm
London, 17 January 2007
Structured credit veteran joins evolutionary structuring innovators
Codefarm, the structured credit technology company, has appointed Paul Varotsis, an acknowledged structured credit expert, as a non-executive director.
Over the past twenty years, Paul Varotsis has become one of the most highly experienced and respected figures in Structured Credit. He initiated Chase Manhattan's Credit Derivatives business in London and then internationally in the 1990s. He then joined Lehman Brothers and was head of CDOs at Barclays Capital. During that period he was European Chairman of the ISDA committee that drafted the 2003 Credit Derivatives Definitions, and advised the Bank of England and other regulators to help develop a trusted credit derivative marketplace. He is currently a partner at Reoch Credit Partners LLP.
Jeremy Mabbitt, Managing Director of Codefarm commented: “To have someone with the experience and expertise of Paul Varotsis is a huge asset to our team. His long view of the structured credit market will be invaluable in the development of new products and services by Codefarm.”
Paul Varotsis said: “I have been greatly impressed by Codefarm's impact on CDO structuring since they burst upon the scene three years ago. Their use of evolutionary computing technology to automate CDO structuring and enhance spreads is in itself a huge achievement and shows huge potential for other structured credit products.”
Paul's previous positions include head of CDOs at Barclays Capital, Executive Director in charge of Repackaging and Credit Derivatives at Lehman Brothers, and head of Credit and Capital Management EAME for the Chase Manhattan Bank. He holds an MBA from the Stanford Graduate School of Business, a Diplome from the Institut d'etudes politiques de Paris and a Diplome from the Institut Superieur de Gestion.
Paul speaks at conferences and seminars and has published numerous papers on the structured credit markets.
About Codefarm
Codefarm is a technology company providing products and services to help investment banks and financial organisations achieve better returns in the structured credit market.
Applying mathematical approaches based on evolutionary computing, Codefarm provides powerful new tools for tackling highly complex combinatorial and numerical modelling problems. Its Galapagos software harnesses the processing power of grid computing, rapidly delivering optimal solutions and evolving them to keep pace with changing market conditions. By targeting exact requirements without simplification or compromise, Galapagos automates manual processes and consistently outperforms other methods.
With a policy of recruiting high-calibre personnel who quickly grasp the complexities of new financial markets, Codefarm can rapidly tailor its products to client needs.
Codefarm's growing client list includes many of the top investment banks and it is now a clear leader in maximising returns on structured derivatives products.
Codefarm is a privately-owned company with headquarters in Brighton, UK. For more information, see www.codefarm.com
Media Enquiries
Stephen Fleming at Palam Communications
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General Enquiries
Galapagos Structurer
Lindsay Gardner, Marketing Manager, Codefarm
Tel: +44 20 70021423
Email: info@codefarm.com
Web www.codefarm.com