Professional Experience

• Scientific Advisor to the European Commission on Agricultural Commodities.
• Member of the Board of the UBS-Bloomberg Commodity Index.
• Adviser to Office Cherifien des Phosphates, Morocco.
• Adviser to Bunge on land acquisition in Brazil and the US.
• Adviser to Wilmar International (Singapore) on M&As related to palm oil and other agricultural commodities.
• Expert witness for the State of California on commodity-related court cases.
• Adviser to a Private Equity fund in London on the purchase of physical assets—Aluminium smelters.
• Adviser to the Gestore of Mercatto Elettrico, Rome, 2005–2006. Market design and regulation in the case of a non-storable commodity in an oligopolistic setting.
• Scientific Expert for Totsa (Geneva) and Total Gas & Oil, London, 2003–2005. Financial positioning using physical assets and structured trades in oil and refined products.
• Adviser to BHP Billiton, The Hague, 2002-2003. Modeling of coal forward curves; option pricing in illiquid markets.
• Adviser to Axa- Ré, Paris, 2001. Valuation of Insurance of Defaultable debt.
• Adviser to Louis Dreyfus, Wilton, Ct, 2000–2001. Risk management for Agricultural commodities: the case of coffee and sugar.
• Head of Research, EDF Trading, London, 1999–2000. Value at Risk for mean- reverting commodities. Valuation of swing options on oil and natural gas. Risk management of an energy company.
• Scientific expert for Southern Energy Company Marketing, Atlanta, 1996 to 1998. Models for electricity spot prices and forward curves.
• Adviser to Salomon- Smith Barney, Paris, 1994–1995. Valuation of FX plain vanilla and Asian options and FX risk management for mid-cap companies.
• Adviser to ED&F Man, London, 1993–1994. Design of a Technical Analysis strategy.
• Adviser to Winterthur Insurance, Switzerland, 1993. Design of Catastrophe Bonds.
• Adviser to the Chicago Board of Trade, 1992. Construction of several Catastrophe Options Indexes.
• Head of Research at Caisse des Depots, Paris, 1988–1991. Development of pricing methodology and software for interest-rate derivatives and asset-liability management in banks.