1 / 8

Actuaries in Non-Traditional Roles Investment Banking

Duncan McCallum Managing Director, Global Markets RBC Capital Markets. Actuaries in Non-Traditional Roles Investment Banking. CIA/CAS Joint Session Montreal, November 17, 2004. Career History. Qualified as an Actuary in 1981 FSA, FCIA Pension Consulting for 10 Years

allegra-obrien
Download Presentation

Actuaries in Non-Traditional Roles Investment Banking

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. Duncan McCallumManaging Director, Global MarketsRBC Capital Markets Actuaries in Non-Traditional RolesInvestment Banking CIA/CAS Joint Session Montreal, November 17, 2004

  2. Career History • Qualified as an Actuary in 1981 • FSA, FCIA • Pension Consulting for 10 Years • EVP and Chief Actuary at W. F. Morneau & Associates • Switched to Investment Banking in October, 1991 • Debt-focused Investment Banking from 1991 to Present

  3. How I Switched • Lateral application of actuarial mathematics • Designed structure for Canada’s Real Return Bonds • Same structure now used for TIPS in the US

  4. The Early Days • Greater excitement and risk

  5. Actuarial Strengths in Finance • An actuary can be a technical star in banking

  6. Actuarial Weaknesses in Finance • Alliances can trump technical solutions

  7. Best Actuarial Fits in Finance • Many applications for actuarial mathematics • Derivatives • Indexed funds • Structured products

  8. Conclusion • Once an actuary, always an actuary

More Related