Peter’s career started in 1999, When he spent three years as an accountant for a small local firm producing monthly management accounts, end of year accounts and tax returns. In 2002, he started at Citi Company in their Global Corporate Trust business gaining exposure to the Note, Medium Term Note and European Commercial Paper markets.
Peter was involved with new issuances from its clients’ Note programs and ensuring correct amounts passed between issuers and the clearing houses. In early 2004 he moved to Bank of New York in their rate fixing department focusing on fixing the rates for Notes and loans that Bank of New York administered in a timely manner as rates were published on the open market.
In early 2006, he moved to HSBC to their Asset Backed Securities and Repackaged Debt business gaining exposure to securities that were collateralized by mortgages, property, credit card debt and other loans. He was also involved in setting up Special Purpose Vehicles to aid clients when investing in certain types of securities and investments.
In January 2007, Peter moved to a newly created Department of Global transactions as the CDO account manager at BNP Paribas. During the nearly 6 years that he was there, the department grew from a team of five to a team of 21 and became the second most profitable department of the bank in terms of profit per head count.
His main responsibilities were to ensure that CDO transactions were profitable for both the bank and investors. This was achieved by on-going, extensive analysis of the portfolios. The team worked very closely with investment managers on new investments by running hypothetical scenarios before committing to investments in the range of €100m to €1.2bn.