Michael Naughton joined FFTW in August 2011 as a portfolio manager and is based in New York. His responsibilities include identifying relative value opportunities within the MBS derivatives and CMO markets.
Michael joined FFTW from Cohen & Co. Securities, where he was a managing director, responsible for trading agency MBS with a focus on mortgage derivatives and new issue underwriting. Prior to this, Michael spent eight years as a portfolio manager with West Side Advisors, a mortgage hedge fund. His other experiences include Countrywide Securities as a non-agency trader and UBS Securities as an agency MBS trader. Michael began his career at Bear, Stearns & Co. where he was the head of the CMO structuring group. He has 25 years of investment experience.
Michael holds a BS in operations research and industrial engineering from Cornell University (1986).