Accounting, Operations, Hedge Funds, Futures/Options

Paul J. S. Hendry

* ******* ****** ***** ******, NY 10605

203-***-**** **@*****.***

https://www.linkedin.com/in/paul-hendry-937b54128/

Professional Synopsis

Investment industry veteran with more than 20 years’ experience as CFO/COO. Extensive operations background in fund management, securities trading and trading advisor roles. Strong management background with exposure across multiple products, lines and strategies. Notable accomplishments include the creation of domestic and offshore funds. For over 29 years the finance and operations partner in all ventures with commodities trading icon Dr. Victor Niederhoffer.

Core Competencies

Operations management

Financial analysis

Forecasting and budgeting

Accounting

Hedge fund administration

Taxation planning

Liquidating assets

Litigation control

Bloomberg

X Trader/TT

IB Trader Workstation

Advanced MS Excel

Professional Experience

Manchester Trading LLC 1998 – present

Treasurer (2008 – present)

Manage finances and operations of a futures-, options- and securities-based proprietary trading desk and commodity trading advisor.

Negotiate and manage relationships with multiple prime brokers, focusing on collateral management and leverage/margin monitoring.

Implemented portfolio management, LLC accounting, front-end trading, and proprietary risk-management systems.

Provide budgeting, HR (payroll, benefits and compensation analysis) and partner-level detailed cash flow projections and tax estimates.

Set up an Australian trading subsidiary to arbitrage Asia-Pacific index products (Taiwan, South Korea, India and Australia) during U.S. night session.

Established a UK trading subsidiary for FOREX trading.

Recovered more than $3 million from federal and state governments from carryback tax filings.

Board member for a food processing company that had been purchased with Private Equity capital. Consistently delivered strong dividends. Researched worldwide buyers and hired a broker to represent the board to sell the firm. Helped put together the book. Closed on an all cash sale of the business to a publicly traded European firm but retained the U.S. real estate.

Reduced operations staff by 60% and moved all trading and clearing functions to electronic platforms.

Invested excess collateral in time spread option portfolios of one to six months’ expiration.

Chief Operating Officer/Chief Financial Officer (1998 – 2008)

Set up a new LLC with Niederhoffer family capital then relocated entire business from midtown Manhattan to Connecticut, cutting overhead by 70%. Managed the acquisition and build out of new office space and negotiated the sublease of existing space. Hired, trained and managed new operations team.

Negotiated with a South African bank to create a new global fund, naming Manchester Trading as exclusive trading advisor. Established prime broker relationship for futures, options and securities trading. Created the offering memorandum with legal counsel. AUM peaked at $260M.

Generated daily financial capital and margin exposure reports. Performed month-end accounting and NAV calculation.

Tracked daily positions for P&L and tax purposes. Oversaw tax filings and K1 preparation.

Invested excess cash to generate revenue using government securities, bank paper and convertible debt portfolios.

Negotiated a multi-year settlement with the Chicago Mercantile Exchange over index option daily settlement price mechanism.

Managed and liquidated portfolio of municipal zero-coupon bonds.

Niederhoffer Investments Inc. 1990 – 1998

Controller

Managed the operations of commodity trading advisor Dr. Victor Niederhoffer. AUM grew from $10M to $120M+.

Created four domestic and offshore funds. Crafted the domestic offering memoranda. Reported monthly financial statements to individual investors and generated annual K1 tax statements.

Developed and implemented forecasting models and overall process for M&A business unit. Created compensation schedule for sellers and brokers. Set up an M&A unit in Atlanta, GA, with national coverage. Assisted in the sale of 14 privately held companies. Negotiated the eventual sale of the entire M&A division to a publicly traded investment firm in an all-stock deal.

Oversaw a portfolio of regional companies that were purchased with Private Equity capital through the M&A division. Managed cash flow for operations. Represented the shareholders as a board member for three companies (Food processor, Auto parts distributor and Sales Fulfillment dealer).

Liquidated company-owned silver portfolio via private sales and international auction houses.

Successfully negotiated settlement of broker debt claim.

Timber Hill Inc. (now Interactive Brokers) 1985 – 1990

Controller

Set up the accounting, clearing and trade processing operations for new firm that used unique trading floor technology. Hired staff for New York and Chicago processing.

Created and implemented a stock loan desk as a profit center from house securities positions.

General Trading Inc. 1984 – 1985

Accountant

Prepared K-1 statements for fund shareholders.

Mentored by Asher and Jon Edelman.

Passed Series 7 (General Securities) and Series 4 (Options) exams.

Education

Columbia University

M.B.A.

University of Strathclyde (Glasgow, Scotland)

B.A., Accounting

Other

Dual US and UK citizenship.

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