Peter Clerc has over 10 years of experience in the derivatives business and related capital markets. As a Managing Director at Swap Financial Group, Mr. Clerc advises issuers on risk management strategy, derivative execution, ISDA document negotiation, Dodd-Frank compliance, and capital structure optimization. His client focus is on governments, State Housing Finance Agencies, other municipal entities, not-for-profit healthcare, higher education, and certain real estate developers/owners. Prior to joining Swap Financial Group in 2016, Mr. Clerc spent 8 years at Goldman Sachs where he headed the Public Sector and Infrastructure Group’s derivative desk. He has extensive experience within both the public and private sectors of the fixed income market. Based on his fairly recent experience working at a major investment bank, Mr. Clerc has a unique inside perspective of the more nuanced concepts of derivative pricing and modeling, including: credit and funding reserve calculations and management (CVA and FVA), Basel III capital charges, various swap indices trading hedge costs, implications to discounting methodologies based on collateral posting (i.e. OIS vs. LIBOR discounting), exotic optionality, etc. In this prior role, he helped execute over 400 transactions, totaling over $15 billion of notional amount, in a wide range of interest rate product types, including: basis swaps, inflation swaps, knock-outs, swaptions, and constant maturity swaps, among more vanilla structures.
Mr. Clerc began his career in public finance working for UBS in 2007 on the municipal derivatives desk. At UBS, his primary responsibilities were pricing and modeling derivative structures, additional analytical support, and trade execution.
Mr. Clerc received a B.S.B.A with a concentration in Finance from Northeastern University, and is a registered Municipal Advisor, having completed the Municipal Securities Rulemaking Board (MSRB) Series 50 exam for Municipal Advisor Representative. He currently is a member of certain working groups of the Alternative Rates Reference Committee, convened by the New York Federal Reserve to help ensure a successful market transition from US-Dollar LIBOR to a more robust reference rate (the Secured Overnight Financing Rate, “SOFR”).