Marc Packles

An expert in hybrid securities, Marc Packles has held positions with UBS AG, Citigroup Inc., and Lehman Brothers Holdings Inc. While at Citigroup, Marc Packles launched a number of initiatives related to structured securities and fixed-income credit products in the U.S., Latin American, and European markets. Marc Packles began his financial career at UBS, gaining experience in derivatives trading on the floor of the American Stock Exchange while concurrently finishing his studies at the University of Pennsylvania’s The Wharton School and School of Engineering and Applied Science. Following this internship, Marc Packles joined Salomon Brothers/Citigroup and after more than a decade, he accepted a position with Lehman Brothers Holdings Inc. in late 2008. At Citigroup, Marc Packles distinguished himself for work on the derivatives trading desk. Top-ranked as a trader, Packles developed new correlation strategies that led to significant returns for the firm. He traded U.S. index options and exchange-traded funds, and he worked on the issuance of a range of structured products, including synthetic convertible bonds and swaps. Marc Packles also outlined new trading strategies that combined aspects of fundamental analysis with statistical analyses of arbitrage opportunities. In 2002, Marc Packles was appointed Director of Mortgage Trading at Citigroup. Drawing upon past experiences, he developed a range of profitable mortgage derivative products, including interest-only and principal-only offerings and structured collateralized mortgage obligation securities. Packles oversaw secondary trading of the IO/PO book, as well as the group’s hedging strategies. Based on this success, Marc Packles was asked to lead a new group at Citigroup, focusing on hybrid capital securities. Managing the trading desk, Marc Packles worked with complex securities containing equity and fixed-income components. Employing relative value measures, he developed debt and equity strategies that assisted the division to be top ranked in the issuance tables for several consecutive years. Marc Packles belongs to the Finance Club NYC and Equity Derivatives Professionals. He donates to Team OneFamily and the Youth Renewal Fund. Packles also engages in several athletic pursuits, including triathlons and skiing. He is also an avid chess player.