EXPERIENCE
MACM is served by a group of professionals who posses decades of hands-on experience in trading and risk
managing various hedge fund strategies, across developed and emerging markets around the world.
Monty Agarwal
Monty Agarwal is the managing partner of MACM LLC. He has over 14 years of experience in trading,
managing traders and risk management at Wall Street banks and hedge funds.
Prior to forming MACM, Monty was a portfolio manager in the hedge fund industry. He founded Predator
Capital Management, a systematic macro hedge fund. Predator was nominated as the Best New Asian Hedge
Fund and Best Asian Relative Value Hedge Fund, 2005 by Eurekahedge and Terrapinn. Monty also served as
a portfolio manager for III Funds, a $5 billion hedge fund.
Prior to joining the hedge fund industry, Monty worked as an interest rate and currency trader on Wall Street
between 1995 and 2003. He was the Managing Director and Head of Trading at BNP Paribas, based in
Singapore. The desk was ranked among the top 3 by the Risk magazine in 2002.
Monty Agarwal holds a Bachelor’s degree in Computer Science and Engineering from University of
Pennsylvania (1990) and an MBA degree, with concentrations in Finance and Business Economics, from the
University of Chicago, Booth School of Business (1996).
Mark Stephan
Mark Stephan has an extensive 15 year experience trading derivatives and managing teams of traders covering
proprietary trading and bookrunning functions across various equity strategies.
He has traded and managed equity derivative desks at Bankers Trust (1993-1998), Barclays Capital (1998-
2004) and most recently Deutsche Bank (2004-2008). In his latest role, Mark was Managing Director, Head of
Equity and Equity Derivative Trading for Deutsche Bank in Japan. He was appointed to the Deutsche Bank
Equity Derivative Global Management Committee in 2008.
Mark holds Bachelor's degrees in economics, finance and accounting from Wilfrid Laurier University, Canada
(1993).
David Fricchione
David has over 10 years of trading, modeling and risk analysis experience in the equity, interest rate, and
currency markets.
David has designed and tested trading systems using technical, fundamental and quantitative portfolio
selection techniques. He ran managed accounts for high net worth individuals in which he utilized statistical
inference/time series applications to build models and manage risk. During the earlier part of his career he
traded NASDAQ equities and options for both institutions and broker dealers at Goldman, Sachs & Co. More
recently, David was an interest rate trader at MF Global Ltd. and a macro trader at Greylock Capital
Management, LLC, a $1Billion hedge fund.
David holds a Bachelor’s degree in Mechanical Engineering from Rochester Institute of Technology (1998) and
a Masters in Mathematics of Finance from Columbia University (2004).
MACM is served by a group of professionals who posses decades of hands-on experience in trading and risk
managing various hedge fund strategies, across developed and emerging markets around the world.
Monty Agarwal
Monty Agarwal is the managing partner of MACM LLC. He has over 14 years of experience in trading,
managing traders and risk management at Wall Street banks and hedge funds.
Prior to forming MACM, Monty was a portfolio manager in the hedge fund industry. He founded Predator
Capital Management, a systematic macro hedge fund. Predator was nominated as the Best New Asian Hedge
Fund and Best Asian Relative Value Hedge Fund, 2005 by Eurekahedge and Terrapinn. Monty also served as
a portfolio manager for III Funds, a $5 billion hedge fund.
Prior to joining the hedge fund industry, Monty worked as an interest rate and currency trader on Wall Street
between 1995 and 2003. He was the Managing Director and Head of Trading at BNP Paribas, based in
Singapore. The desk was ranked among the top 3 by the Risk magazine in 2002.
Monty Agarwal holds a Bachelor’s degree in Computer Science and Engineering from University of
Pennsylvania (1990) and an MBA degree, with concentrations in Finance and Business Economics, from the
University of Chicago, Booth School of Business (1996).
Mark Stephan
Mark Stephan has an extensive 15 year experience trading derivatives and managing teams of traders covering
proprietary trading and bookrunning functions across various equity strategies.
He has traded and managed equity derivative desks at Bankers Trust (1993-1998), Barclays Capital (1998-
2004) and most recently Deutsche Bank (2004-2008). In his latest role, Mark was Managing Director, Head of
Equity and Equity Derivative Trading for Deutsche Bank in Japan. He was appointed to the Deutsche Bank
Equity Derivative Global Management Committee in 2008.
Mark holds Bachelor's degrees in economics, finance and accounting from Wilfrid Laurier University, Canada
(1993).
David Fricchione
David has over 10 years of trading, modeling and risk analysis experience in the equity, interest rate, and
currency markets.
David has designed and tested trading systems using technical, fundamental and quantitative portfolio
selection techniques. He ran managed accounts for high net worth individuals in which he utilized statistical
inference/time series applications to build models and manage risk. During the earlier part of his career he
traded NASDAQ equities and options for both institutions and broker dealers at Goldman, Sachs & Co. More
recently, David was an interest rate trader at MF Global Ltd. and a macro trader at Greylock Capital
Management, LLC, a $1Billion hedge fund.
David holds a Bachelor’s degree in Mechanical Engineering from Rochester Institute of Technology (1998) and
a Masters in Mathematics of Finance from Columbia University (2004).
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