Alumni

Winston W. Ma

Winston W. Ma, the former Chair also the founder, CFA, Esq. (winstonwma@gmail.com) is a senior originator and structurer at Barclays Capital (New York)'s newly established US equity linked capital markets. Joining from JPMorgan (NY) in March 2007, he leads the development of US convertible bond orgination and US corporate equity derivatives solutions. At JPMorgan, he was a Vice President at the Equity Capital Markets as well as a member of a high profile investment banking structuring and solution team across equity, fixed income, hedge funds, M&A and rating advisories.

Combining his finance and legal backgrounds, he has structured and executed numerous highly structured transactions in registered and private placement markets since 1998, including innovative equity-linked financings, M&A cross holding hedging, structured share repurchases, and hybrid securities structuring for balance sheets and capital structures management. With Bar admissions in both China and New York, he worked as a corporate and securities lawyer at Davis Polk & Wardwell's New York office until 2001 before pursuing his MBA for a more business-oriented role in the global capital markets. His action-packed transition from corporate lawyer to investment banker was featured in a New York Times issue in 2003.

He is also a widely recognized authority on China capital markets and its legal framework. He’s the author of the groundbreaking title “Investing in China New Opportunities in a Transforming Stock Market” (Risk Books 2006) and has been widely quoted in the Wall Street Journal, Bloomberg News, TheStreet.com, Derivatives Week and Euromoney magazine as a China investments expert. In 2000 he was an international visiting professor at the University of Richmond Law School in 2000, teaching a course on China's Corporations and Securities Laws.

Mr. Ma holds a M.B.A. degree from the University of Michigan Ross Business School and a LL.M from the New York University School of Law, where he was a Hauser Global Scholar. Before that, he also received a Bachelor of Science (B.Sc.) and a Bachelor of Law (LL.B.) degree from Fudan University Materials Science Department and School of Law respectively in Shanghai, China.

Media & Publications

• DerivativesWeek "Learning Curve": Option Leverage Measure: Lambda vs. Delta
• DerivativesWeek "Learning Curve": Is a Forward Contract Always a Delta One Trade?
• DerivativesWeek "Learning Curve": Option Delta Versus Probability To Exercise.
• Structured products and corporate finance.
• China's innovative fund products: ETFs and LOFs.

Pramod (Ray) Gurshaney

Pramod (Ray) Gurshaney is a Financial Engineering major graduate who focused on Capital Markets. He has a MBA from CSU (2001). He also has a ME in Automatic Control & Robotics from MSU India and a BE in Electronics Engineering from SPU India. Prior to joining the University of Michigan's InterPro (interdisciplinary professional) unit, Ray worked as a Technology Manager with Brulant Inc, an information technology consulting firm based in Cleveland, OH. Ray previously worked at FPL Energy as a summer intern at the portfolio analytics & trading strategies desks. He has decided to take the full-time offer from FPL.

Alumni Mentors

Rich Defabio

Rich Defabio is a 2002 associate at Deutsche Bank in New York. He works with institutional clients on equity, fixed income, and commodity derivatives. Rich has a BS from University of Arizona and an MBA from the University of Michigan Business School (2002). At Michigan, Rich concentrated on Finance and Financial Derivatives. Rich was the Founder and President of the former UMBS Options and Futures Club and is committed to strengthen ties among the UM Financial Derivatives & Risk Management Club, Michigan alumni and Wall Street firms.

Edward Wood

Edward Wood is an associate in corporate strategy at the Chicago Board of Trade. He works on competitive strategy, financial analysis, M&A structuring, and new derivative product development. Ed has a BE from Vanderbilt University and an MBA from the University of Michigan (2002). At Michigan, Ed concentrated on Finance, Financial Strategy, and Financial Derivatives, including courses offered by Tyler Shumway. Prior to attending Michigan, Ed worked in derivatives structuring and corporate finance for Enron North America and as a mechanical engineer at a private consulting firm.

Gabriel Freund

Gabriel Freund (MBA) is an 2004 MBA graduate and previous club president. He has over 5 years financial services experience, mostly on Wall St. He spent last summer doing a sales & trading internship at a major investment bank in New York City. He rotated through many desks including both Fixed Income and Equity derivatives.

Anand Vaidya (MSFE)

Anand Vaidya (MSFE) is a 2004 Financial Engineering major graduate and previous club EVP. Anand has a Bachelor's degree in Civil Engineering from the University of Mumbai and a Master's degree in Transportation Engineering from the Univeristy of Toledo, Ohio. Before coming to University of Michigan, he was working as a Software Engineer in the Bay Area, California. He has spent a summer at a proprietary trading firm assisting the traders with quantitative, data and market analysis for developing and automating their trading strategies.