CFO & CCO
|Mr. Abarbanel brings to the Trust his deep understanding of the Fund’s principal investment strategy, substantial knowledge of methods of efficiently executing that strategy, and significant familiarity with the regulatory framework that governs the Fund.
Mr. Abarbanel is a 17 year securities lending broker and expert who has advised many Israeli regulators, among them the Israel Tax Authority, with respect to stock loans, repurchase agreements and credit derivatives.
Mr. Abarbanel holds a professional certification as a securities portfolio manager and advisor in Israel. Mr. Abarbanel is the sole owner of the Adviser. He is the CEO of State Trust and Plus Trust, open-end registered investment companies that are registered as a mutual fund and an exchange traded fund (respectively) with the Securities and Exchange Commission. State Funds is a series trust and its fund is traded under the symbol: “STATX” while Plus Trust is a series trust which is approved to be traded on NASDAQ under the Symbol: ”TBIL” but has not yet commenced operations.” Mr. Abarbanel is also the owner and CEO of Institutional Secured Credit LLC, a US based Investment Company, and an outsourced consultant for Contact Prime Brokerage Ltd., an Israeli based firm which specializes in securities lending, repurchase agreements, reverse repurchase agreements and derivatives.
Chairman of Board
Member of Audit Committee
Member of Nominating Committee
|Mr. Logan brings to the Trust his significant knowledge of, and substantial leadership experience within, the securities finance industry.
Mr. Logan currently works as the head of securities lending for Velocity Capital LLC. Prior to beginning work with Velocity Capital LLC in 2016, Mr. Logan worked at Quantex Clearing (a registered broker-dealer that performs clearing services and executes stock loan transactions) from 2010 until 2016, where he also served as the head of securities lending. Prior to his work on Quantex Clearing, Mr. Logan worked as a Systems Administrator and Vice President of the Matador Platform (software used to administer stock lending transactions) at All American Technologies from 2004 through 2006 and from 2007 through 2010.
As of November 2016, Mr Logan has indirect ownership in Sabretooth Advisors, LLC, a registered investment advisor. Mr. Logan owns 10% of SSSDMG, LLC, which owns 50% of Sabretooth Advisors. SSSDMG does not have any other assets or business interests outside of its Sabretooth Advisors ownership. Mr. Logan's role in SSSDMG and Sabretooth Advisors is as a passive investor with no representation on the board or management committees of either entity. Mr. Logan is not designated as an "access person" as it pertains to the actively managed exchange traded fund that is managed by Sabretooth Advisors.
As of January 2017, Mr. Logan also owns 5% of outstanding class B membership units of Precision Securities, LLC, a registered broker dealer and FINRA member. Mr. Logan is a passive investor only and is not a control person, member of the management team, or a member of any executive committees. He is, however, registered with Precision Securities for the purpose of receiving his share of net income allocated to class B members.
Mr. Logan holds a FINRA series 7 license and graduated from Empire State College with a degree in Liberal Arts.
Chairman of Audit Committee
|Mr. Nwaigwe brings to the Board extensive compliance and accounting expertise and leadership experience, coupled with a long tenure in the securities industry.
Mr. Nwaigwe has an MBA in Finance from New York-based university. He has extensive compliance experience with particular emphasis on SEC, FINRA, Treasury and Federal Reserve Bank requirements, including Net Capital and Customer Reserve requirements. Previously held Series 7, 24, and 63.
2007 to present: Consulting: Consulting for various broker/dealers on restructuring of the Compliance Department, including but not limited to expanding business mix, modification of restriction agreement, conducting training on OFAC, Know Your Customer/Enhanced Due Diligence, USA Patriot Act, and Anti-money laundering/suspicious activity reporting.
2001-2007 : Chief Compliance Officer A.B. Watley, Inc/A.B. Watley Direct, Inc in which he: Managed regulatory on-site examinations and investigations, Conducted training sessions on, OFAC, Know Your Customer/Enhanced Due Diligence, USA Patriot Act, and Anti-money laundering/suspicious activity reporting, Coordinated with internal and external auditors to ensure that all compliance issues are effectively addressed, Managed Broker-Dealer regulatory issues, Prepared Written Supervisory Policies and Procedures, Reviewed and Handled Customer Complaints, Supervised Registration Department and Branch Office Audits, Developed, implemented and coordinated Anti-money laundering policies.
1997-2001 : Director of compliance at On-Site Trading, Inc in which he: Managed regulatory on-site examinations and investigations; Managed Broker-Dealer regulatory issues; Prepared Written Supervisory Policies and Procedures; Reviewed and Handled Customer Complaints; Conducted Continuing Education - Firm Element; Supervised Registration Department and Branch Office Audits.
1994 to 1997: Citibank, N.A. Assistant Vice President - Quality Assurance-Global Relationship Bank (GRB)
1987 to 1994: Financial Industry Regulatory Authority, Inc (“FINRA”) Rose to title of Field Supervisor of Examiners.
Chairman of the Nominating Committee
|Mr. Cohen has significant general and technological business experience, and his planning, organizational and leadership skills help the Board set long-term goals for the Fund and establish processes for overseeing Trust policies and procedures.
Mr. Cohen is currently self-employed as a strategic consultant to technology companies operating under the name Management Advisors, and has been so since 2013. From 2010 through 2013 Mr. Cohen served as the Vice President of Business Development of Emefey, a wastewater clean technology company. Prior to that, Mr. Cohen was the Vice President of Business Development and Technology for RIT Technologies.
Mr. Cohen earned a B.A. degree in Computer Science from the City University, New York, Queens College.
COO of the Fund
|Nicholas Abbate, the Fund’s Portfolio Manager, is responsible for the day-to-day management of the Fund’s portfolio assets, approving, executing and monitoring fixed income lending, borrowing and trading strategies and counterparties. Mr. Abbate has been a portfolio manager with the Adviser since November 2016.
Mr. Abbate has significant experience in capital markets, and has devoted over 10 years to equity trading and broker-dealer sales through various roles at Knight Capital Group, Inc., an independent market maker. At Knight Capital Group, Inc., where he worked from 1997 until 2010, Mr. Abbate was a market maker in NASDAQ securities and Over the Counter Bulletin Board (OTCBB)/OTC Pink Securities in various sectors.
Mr. Abbate joined Knight Capital Group, Inc., in 1997 after spending a year as an Accounts Manager – Wire Room at TD Waterhouse Securities, where he was responsible for all NASDAQ trade reconciliation and reporting. Between 2010 and 2014, Mr. Abbate was an independent real estate investor and developer. Mr. Abbate previously served as the Director of Business Development at Enerlock, LLC, an energy savings specialist company. At Enerlock, LLC, where he worked from 2014 to 2016, Mr. Abbate was responsible for the procurement of large commercial, small business and residential electric and gas customers, as well as development of new sales channels through online and affiliate marketing.
Mr. Abbate earned a B.A. degree in Business Management from St. John’s University and currently holds the FINRA Series 65 license.