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ID:39696561
大小:5.42 MB
页数:29页
时间:2019-07-09
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1、/6TalkingBusinessTalkingBusiness/7Photo:MarkPelhamRealriskmanagersBarneySchauble,aprincipalatNephilaCapital,talksabouthisearlystartinthecatastropheriskbusiness,hisfirm–aninvestmentmanagerspecialisinginthereinsuranceindustry–andthefuturefortheassetclassitspeciali
2、sesinQYoubecameinvolvedwithcatastropheriskwhileatuniversity,whichmustbefairlyunusual.Whatwastheearlyattractionandhowdiditcomeabout?ACertainly,itdoesn’tappeartobethemostconventionalcareerpath!Asthesethingssooftenare,itwastheresultofRésuméaseriesofchanceencounters
3、.1994BAEconomics:IwasgoingtouniversityinBostonandIgrewupinHarvardCollegeBoston,soIwantedtoliveandworksomewhereelse1994–1996Marsh&McLennan–initiallyabeforeIgraduated.ItookasemesterofftodothisandbrokeratMarsh,latermovedtoGuyCarpenter(Marsh’sthankstoafortunateencou
4、nterwithaMarshmanagingreinsurancebrokingsubsidiary)directorIendedupworkingforMarshinNewYorkinthe1996–2003GoldmanSachsfirm’sprimaryinsurancebrokeragedivision.–vpriskmarketsThiswasin1993andsohappenedtobeatthetimethat2003–2004XLCapitalWeather&Energythederivativessc
5、andalsinvolvingBankersTrustwere–headofmarketingfortheemerginginthepress.Asacollegestudentwithoutalotofweatherbusinessfinancialservicesbackground,itwasn’timmediatelyclear2004–presentNephilaCapital–principaltomewhythecomplicatedderivatives-basedhedgingarrangements
6、thatwerebeingdiscussedinthepapersthemarkitmagazine–Summer08Summer08–themarkitmagazine/8TalkingBusiness“Igottobeinvolvedfromtheoutsetinthefirstcatastrophebondtobesuccessfullycompleted–GeorgeTownRe,whichclosedattheveryendof1996.”wereseenasentirelydifferenttothecov
7、erageIwasQYoumovedfrombeinganinsurancebrokertoworkingworkingoneveryday–complexriskmanagementforaninvestmentbank’snewrisktransferoperationinarrangementsforliabilityassociatedwithbridges,toll1996.Wasthetimingsignificantand,ifso,whathadroads,technologybusinessesand
8、soon.changedinthemarket?IraisedthequestionofwhytherewasthisbrightlinebetweenthefinancialandinsurancemarketswithoneofAIthadbecomecleartoeveryoneworkingintheGuymymentor
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