Keith Harrington
Reigate,Surrey
Summary
As well as being a hands-on trader and material risk manager, I have been responsible for building successful trading businesses at various institutions while being at the forefront of industry innovation. My most recent experience is with Royal Bank of Canada (RBC) where I run a global, multi-currency, multi-product trading business which is the backbone of our Rates Trading revenue and franchise offering. Previously I took a large undertaking at State Street where a rates trading business was built from scratch requiring management of many concurrent front-to-back projects.
By the very nature of running a multi-faceted business, I am practiced in being able to respond to a diverse range of bespoke financial requests and adapt to market trends with deliverable solutions. Examples include developing and executing new interbank OTC products that are now market standard while at RBC and launching a prototype during my time at Tullett Prebon. In order to achieve positive outcomes I collaborate closely with functional partners such as Quants and IT, Compliance, Financial and Credit Risk Management, Market Data Services, Back Office as well as front office Sales and Trading areas.
As a manager of a diverse international team, I have a solid understanding of training and mentoring employees, especially young talent. I am an energetic employee well-versed in strong communication and organisation skills.
Overview
32
32
years of professional experience
4
4
years of post-secondary education
Work history
Head Multi-Currency Swaps Trading
Royal Bank of Canada
London
11.2013 - Current
- Head of interest rate derivatives trading business specialising in cross-currency, single currency and FX swaps denominated in major currencies.
- Built business from narrow, underdeveloped platform in to franchise-diverse, competitive, state-of-the-art outfit generating meaningful revenue.
- Providing service to global franchise covering wide variety of jurisdictions, client needs and local nuances.
- At forefront of innovation developing new, tradable interbank products for global OTC market to address industry and regulatory needs.
- Engaged with industry bodies to drive new industry standards and ambitions within OTC market.
- Instrumental in guiding internal technology and process initiatives from inception, development and on to final delivery, usually enterprise-wide.
- Always cultivating strong, diverse team ethic, especially with young and aspiring talent, fostering empathy and career development.
- Conduct global, market based meetings, regular interaction with sales force and their clients, frequently reporting at Senior Management forums and committees.
Senior Trader
Jefferies
London
06.2012 - 06.2013
- Already established as bond trading house, I joined to further Jefferies trading reach in to OTC derivatives.
- Involved in product, system and tactical development of Rates platform.
Senior Trader
State Street
London
03.2010 - 06.2012
- One of first traders to join London branch in order to set-up rates trading business from inception.
- After five months of development including but not limited to: system and IT start-ups; evolution of pricing and curve analytics; client onboarding/CSA negotiations; regulatory and compliance considerations; credit and risk management frameworks, I executed first interest rate swap and futures contract at State Street.
- Promoted new business by creating live Reuters pages with indicative prices for various FX swaps which brokers used to quote clients.
- From nothing, became top three market maker by notional in FX swaps at leading broker house.
- Instrumental in becoming GEMM with DMO and primary dealer for Bundesbank.
Cross-Currency Basis Swap Broker
Tullett Prebon
London
08.2009 - 02.2010
- Approached Tulletts with proposal to create new cross-currency basis product which did not refer to Libor following Global Financial Crisis and collapse of credible reference rates.
- Developed and published new product on Reuters and Bloomberg pages and composed marketing material to promote product.
- Well received by swap community and started trading in short tenors. It was precursor to now market-standard RFR product.
- Attention of new product also revived previously inactive customers lines with Tulletts.
Senior Trader
Deutsche Bank
London
01.2000 - 04.2009
- Ran cross-currency swap book comprising three traders in London and two in Frankfurt with sixteen currencies under management.
- Business had global reach engaging Sales forces from all major trading centers and attracting wide-ranging variety of clients and business opportunities.
- Deutsche attained #1 position for cross-currency swaps in Risk magazine's inter-bank and corporate rankings.
- Instrumental in securing sole swap mandates associated with inaugural dollar benchmark bonds issued by three European sovereigns.
- Leading swap participant for UK mortgage providers issuing large RMBS and Covered Bonds.
- Before joining cross-currency book, responsible for market making vanilla cap/floors and swaptions.
- Spent two years in Frankfurt office dealing euro and swiss swaps, cross-currency swaps and options for German based accounts.
Exotic Interest Rate Support
Bankers Trust
London
11.1996 - 12.1999
- Developing and maintaining spreadsheet trading models for Rates exotics business by using Bankers Trust simulation tools and analytics to generate risk and P&L reporting.
Risk Analyst
Lloyd's Register
London
10.1993 - 10.1995
- Secured position following placement during Masters course.
- Coded simulation routine to assess availability and reliability of shipping systems in support of certification process.
Education
Bachelor of Science - Mathematics
Loughborough University
Loughborough 10.1989 - 07.1992
Master of Science - Mathematical Modelling
Loughborough University
Loughborough 10.1992 - 10.1993
Personal Skills
- The global nature of the cross-currency business means that I have built excellent working relationships with Sales and Trading teams around the world as well as successfully collaborating with functional stakeholders.
- I have fostered direct working relationships with clients where sensitive deal information can be discussed with the purpose of getting the best execution for their business. I like to get out and meet with clients and perhaps present proposals or strategies.
Technical Skills
- Well practiced at closing large deals at competitive levels with multiple risk exposures.
- Adept at creating bespoke, non-standard financial solutions to address multi-factor client needs.
- Work closely with Quants and IT to develop systems and new ideas surrounding the challenges of financial services.
- Extremely proficient in the use of Excel for financial modelling and analysis and a capable visual basic programmer.
Timeline
Head Multi-Currency Swaps Trading
Royal Bank of Canada
11.2013 - Current
Senior Trader
Jefferies
06.2012 - 06.2013
Senior Trader
State Street
03.2010 - 06.2012
Cross-Currency Basis Swap Broker
Tullett Prebon
08.2009 - 02.2010
Senior Trader
Deutsche Bank
01.2000 - 04.2009
Exotic Interest Rate Support
Bankers Trust
11.1996 - 12.1999
Risk Analyst
Lloyd's Register
10.1993 - 10.1995
Master of Science - Mathematical Modelling
Loughborough University
10.1992 - 10.1993
Bachelor of Science - Mathematics
Loughborough University
10.1989 - 07.1992
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