2004 Hall of Fame

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2004 Hall of Fame

Dexter Senft

Dexter Senft is a Managing Director at Lehman Brothers where he is responsible for Fixed Income Electronic Trading. During his eleven years at Lehman, Mr. Senft has also managed or co-managed Lehman’s Fixed Income Research, Quantitative Research, Counterparty Credit and Global Economics departments.

Prior to joining Lehman Brothers, Mr. Senft spent two years as a principal at EJV Partners L.P., and 17 years at The First Boston Corporation (now CS First Boston), where he was a Managing Director and head of Fixed Income Research and Product Development. He led the development teams that created the first CMOs for Freddie Mac and Pulte Home in 1983 as well as the first ABS securities for Sperry and GMAC in 1986. Mr. Senft has authored numerous articles on mortgage securities, mortgage derivatives, interest rate derivatives and portfolio management techniques. He was one of the early modelers of mortgage prepayments and evangelized their use in evaluating different kinds of MBS. He created the SMM prepayment metric and was a leader of the group at The Bond Market Association (then the PSA) that created the PSA prepayment standard.

Robert Jarrow

Robert Jarrow is the Ronald P. and Susan E. Lynch Professor of Investment Management at the Johnson Graduate School of Management, Cornell University, a managing director of Kamakura Corporation, and a cofounder of WOTN (a CMBS Software company).

He graduated magna cum laude from Duke University in 1974 with a major in mathematics, received an MBA from Dartmouth College in 1976 with highest distinction, and in 1979 he obtained a PhD in finance from the Massachusetts Institute of Technology under Robert Merton. Professor Jarrow is a co-creator of the Heath-Jarrow-Morton model for pricing interest rate derivatives, a co-creator of the reduced form credit risk models employed for pricing credit derivatives, and the creator of the forward price martingale measure. These tools and models are now the standards utilized for pricing and hedging in major investment and commercial banks.



Patricia L. Cook joined Freddie Mac as executive vice president, investments on August 2, 2004. Ms. Cook reports to Richard F. Syron, chairman and chief executive officer. A Wall Street veteran with 25 years of experience developing and managing fixed-income investment strategies, Ms. Cook manages the company's approximately $630 billion retained mortgage portfolio, debt issuance, and its asset/liability risk management strategies.

Prior to joining Freddie Mac, she served as managing director and chief investment officer, global fixed income, for JPMorgan Fleming Asset Management. Ms. Cook joined JPMorgan Fleming Asset Management, with nearly $300 billion in total assets under management, in May 2003 and was responsible for management of fixed income investments across all asset classes. She has also served as managing director and chief investment officer, fixed income, for Prudential Investment Management. She previously held management positions with Fisher Francis Trees & Watts and Salomon Brothers, Inc.

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