SUITE LLC APPOINTS DR. GENE SCHUPAK TO ENHANCE CREDIT
DERIVATIVE TECHNOLOGY OFFERING
New York, August 29, 2003- Suite, LLC (www.suitellc.com),
a financial technology firm and owner of a set of derivatives valuation and
risk management tools based on technology built by JPMorgan and its technology
spin-off, Cygnifi, has appointed Dr. Gene Schupak as Head of Quantitative Research
and Development. Suite delivers source code to this “best of breed”
technology along with customization, integration and support services for its
banking, technology and hedge-fund clients. Gene was the former Head of Derivatives
Research at Cygnifi in New York and has extensive experience with the analytical
tools and quantitative modeling.
Suite’s assets include more than 12
systems and tools including a world-class analytic library (with over 500 functions
including curve construction and pricing for exotic OTCs), easy-to-use pricing
tools, FAS133 hedge paring and hedge effectiveness, credit risk management and
collateral management solutions and a tested robust ASP infrastructure. Suite
has been successful in keeping the tools technically updated, and continues
to generate sales of source code along with ongoing support
contracts.
Gene holds a Ph.D. in Physics from the Kiev Institute of
Thermophysics and an MS in Mathematics from Kiev State University as well as
broad experience with the JPMorgan/Cygnifi Analytics. Most recently as the head
of the Quantitative Research Group at Swiss Re Financial Products where he led
product development for the Pricing and Risk Management of Credit and Interest
Rate Derivatives. Prior to that Gene was head of Quantitative Research at Cygnifi
in New York where he was responsible for Counter-party Exposure Risk Management
and Derivatives Valuation Services. In this role he worked on the commercialization
of the Derivatives Analytic Library and Sampras Counterparty Exposure applications.
Gene has also held senior-level quantitative research positions at other firms
such as Goldman Sachs, BNP Paribas and Cooper Neff.
“Gene’s involvement is key as we embark on enhancing
the tools’ ability to support Credit Derivatives”, said Edward Chester,
Managing Partner at Suite. “He brings a wealth of knowledge to the table,
along with practical experience that will greatly influence our product and
service offerings”.
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