Julian has a unique combination of skills and expertise. He is one of a very few Lawyers who is also a Financial Services "quant" who has designed and programmed arbitrage trading programs in fixed income and derivative fixed income instruments. Combined with a Legal background this gives him deep insights into "Proprietary Trading" regulatory issues such as the "Volcker Rule" - a regulation that attempts to mitigate systemic risks believed to be posed by Federally insured Banks. Julian is a derivative product and tax law specialist with a special focus on the valuation of highly illiquid instruments. He has specialized in the legal aspects of highly structured transactions including cross-border tax-efficiency transactions.
Julian specializes in the Dodd-Frank Act with particular emphasis on CCAR (§165), Volcker Rule (§619), "Living Will" (§ 204) and Mortgage Reform Titles (XIV).
Julian has specialized in modeling cash flows (Waterfall & Stochastic) for Mortgage Backed Securities (MBS) as well as structured products such as Collateralized Loan Obligations (CLOs). During the recent "financial crisis" he was called upon to examine "liquidation & acceleration" clauses in numerous CLO indentures. Currently he is working on CCAR modeling for International Mortgages for a Bank Holding Company (BHC) in the US. This assignment requires both Legal and Financial Modeling skills.
Previously, Julian spent 10 years of his career with Bank of America and Canadian Imperial Bank of Commerce (CIBC) in Internal Audit. At Bank of America he was the Audit Director responsible for Equity Derivatives and Structured Credit Products. Julian was responsible for auditing Bank of America’s Structured Capital Markets Group which was the business line engaging in tax-advantaged trade strategies between different tax jurisdictions. This required the application of specialized knowledge of taxation by different jurisdictions of asset classes and liabilities of multi-national companies with operations in multiple taxing jurisdictions.
At CIBC Julian was an Executive Director responsible for the Financial Products (capital markets derivatives) and the Asset Securitization business. Julian specialized in the assessment of risk in tax-advantaged strategies where CIBC acted as principal. Prior to his career in Audit Julian served in various capacities in Fixed Income Research including Head of Fixed Income Research at Manufacturers Hanover and Barclay Investments. Julian developed and programmed trading, hedging and risk systems at Paine Webber and Citicorp Investment Bank for Zero Coupon Bonds, OTC Treasury Options, Interest Rate Swaps and other fixed income derivative products.
In 2015 Julian completed a "Proof of Concept" for the Optimal allocation (Mixed Integer Programming (MIP) of Tri-Party securities collateral for Citibank, NA using MatLab.
Julian has a Bachelor of Arts and Master of Arts in Economics from George Washington University in Washington, D.C. From 1977-79 he did graduate work in Computer Science at George Washington University. He studied Law at Duquesne University in Pittsburgh where he was selected for Law Review before transferring to New York Law School where he finished his J.D. More recently he earned an LL.M. in Taxation from New York Law School. His LL.M. thesis was entitled “A Path to The Clear Reflection of Income for Mark-to-Market Accounting” which dealt with the tax accounting treatment of interest rate swap expenses by broker/dealers under 26 U.S.C. §475 of the Internal Revenue Code.
He is currently admitted to the state bar of New York as well as the United States Tax Court.