Chris Sheehan is a Managing Director in Mesirow Public Finance He focuses on servicing municipal and developer clients primarily in the states of Maryland Pennsylvania and Virginia as well as other states across the east coast Chris is responsible for the development and implementation of innovative tax-exempt and taxable issues to finance construction projects minimize short-term borrower costs…

Christopher Yike is a Director in Mesirow Investment Banking He is responsible for business development and managing the transaction execution process across the industrial and specialty distribution sectors His transaction experience spans a range of industries including aerospace and defense business services consumer and eCommerce distribution and supply chain food beverage and…

Clarice Olivieri is a senior managing director in Mesirow Institutional Sales and Trading She focuses on municipal sales and trading serving as regulatory branch manager for the New York Santa Monica and San Francisco offices  Clarice has more than 30 years of experience in the financial industry Before joining Mesirow in 2012 she worked on both the Municipal and Corporate Bond Desks at Bear…

January 17 2024 | By, Mesirow Currency Management, While passive hedging can effectively lower currency risk in international portfolios the negative interest differential between Switzerland and the United States has hurt Swiss investors as US investments typically dominate foreign allocations This has led to a need for innovative strategies within hedging to alleviate carry penalties while managing currency risk One such approach where Mesirow…, Currency risk in international portfolios, With Switzerland allocating most of their equity and bond investments overseas currency risk continues to be a major source of risk for pension plans Currency overlay managers such as Mesirow have the expertise to manage this risk for Swiss investors For risk averse investors passive hedging offers a solution that effectively reduces currency risk in the international portfolio, Challenges with passive hedging for Swiss Investors , Due to the negative interest differential between Switzerland and the US passive currency hedging inflicts a carry penalty for Swiss investors hedging US dollar With the current rates of Switzerland and the US at 175% and 55% respectively (as of this articles publication January 2024 the carry penalty associated with hedging the US dollar is not insignificant Therefore while passive hedging is a…, Tenor management for enhanced returns and risk control , While maintaining the prescribed level of currency risk in the portfolio remains the priority the structure of hedging allows for choice of forward contract length ie tenor selection Fixed interval value dates are often used to simplify operational complexities eg fixed 3M contracts result in settlements and cash flows on a fixed quarterly interval For investors who have high cash flow and…, Explore more currency insights, The future for hedged share class investors Futures overlays, Grappling with the coming (T+1 security settlement cycle Read article, USD and the BRICS threat, Sanctions on Russia lead to a call for a new currency to compete with the USD Is a common currency likely Read article

Clint Fyffe is a Managing Director and Wealth Advisor in Mesirow Wealth Management He is responsible for conducting comprehensive wealth planning services using extensive qualitative and quantitative research for affluent individuals corporations and institutions Clint serves on the Wealth Management Investment Management Committee Clint joined Mesirow in 2007 and has 17 years of experience in…