Founding Team Members

Jeffrey D. Engelberg, CFA, Co-Founder

Jeffrey D. Engelberg, CFA, Co-Founder

Jeff co-founded Additive and serves as the firm’s team leader. Jeff’s expertise centers around derivatives structuring, liquidity/ large-position management, and market structure. In 2010, Jeff testified before the Joint CFTC-SEC Advisory Committee on Emerging Regulatory Issues, which included all Commissioners of the SEC and CFTC.

Prior to Additive, Jeff served as a trader and principal for Southeastern Asset Management (9 years), head trader for Fir Tree Partners (2 years), a convertible bond trader for KBC Financial Products (4 years), and an equity trader for Morgan Stanley (1 year).

Jeff completed both his BS and MBA at the Wharton School of the University of Pennsylvania.

Steven R. Moses, Co-Founder

Steven R. Moses, Co-Founder

Steve co-founded Additive and, among other areas, focuses on developing derivative-centric strategies/ solutions for our investor partners as well as assisting them with their more complex trading needs. Steve is a 30-year veteran of the equity derivatives space, where he is a highly respected adviser. Most specifically, Steve is skilled at deconstructing strategy and product complexity into understandable investment tools for both seasoned and novice derivatives investors.

Prior to Additive, Steve served in a variety of senior management and sales roles, including at Morgan Stanley (17 years), Bank of America (8 years), and Nomura Securities (4 years).

Steve graduated from the University of Albany, SUNY, cum laude, with a BS in Finance.

Portfolio Managers

Andrew D. Greeley, CFA, Portfolio Manager

Andrew D. Greeley, CFA, Portfolio Manager

Andrew joined Additive to manage an alternative, option-based strategy focused on generating attractive absolute returns in varied market conditions, especially during times of less-pronounced trends and higher oscillation within the equities markets. In addition, he will be utilizing his experience and derivative expertise across the Additive platform, contributing to both portfolio and client solutions.

Prior to joining Additive, Andrew was responsible for the development and management of option portfolios and funds at Acorn Derivatives Management Corp., where he dedicated 20 years and managed nearly $900 million at its peak.

Earlier, he worked at Tradition U.K. in London where he was a junior trader. Following his time in London, he worked on the floor of the Chicago Board Options Exchange.

Andrew is a member of NYSSA, CFA Institute, and the Market Technicians Association. Andrew received his MBA in finance from the New York University Stern School of Business and a BS from New Hampshire College.

Robert L. Specht, CFA, Portfolio Manager

Robert L. Specht, CFA, Portfolio Manager

Robert joined Additive to develop and manage option overlay strategies for our investor partners. His primary areas of expertise include short volatility strategies (covered calls and put writes) and tail-risk hedging strategies.

Prior to Additive, Robert was a portfolio manager at SEI Investments. He was the architect of SEI’s Covered Call Strategy, implemented in SEI’s Multi-Asset Income Fund (SIOAX). This strategy was designed in-house, representing a significant departure from SEI’s traditional manager-of-managers business model. Robert was also a portfolio manager for SEI’s Dynamic Asset Allocation Fund (SDLAX), with over $2 billion in assets.

Prior to his work at SEI, Robert spent 6 years as a proprietary option trader for Group One Trading and Specht Investment Corp, a firm he founded in 2009.

Robert graduated summa cum laude from the University of Florida and completed his MBA, with honors, at The Wharton School of the University of Pennsylvania. He is an active member in the CFA Society of Philadelphia.

Operations

Eugene M. Gard, CFA, Operations

Eugene M. Gard, CFA, Operations

With more than a decade in the field of enterprise-wide technology and operations, Gene has helped Additive assemble a robust platform of cloud-based technology solutions and streamlined processes that enable the firm to continually optimize its operations-related capabilities.

Prior to Additive, Gene served as 1 of 2 portfolio managers at Dupree, a $1B+ family of mutual funds, as well as vice president of the management company and assistant treasurer/ assistant secretary for the mutual fund trust.

Gene has also served as CEO for Auris Noble, a refiner and assayer of precious metals, as well as an operations manager for Amazon.com.

Gene served in the US Navy for 6 years, where he worked a submariner and gained invaluable expertise on operations, automation, and problem-solving under challenging conditions.

Gene graduated with a BS in electrical engineering, with merit, from the US Naval Academy and completed his MBA at The Wharton School of the University of Pennsylvania.

Jenny O. Herman, Operations

Jenny O. Herman, Operations

Jenny joined Additive to focus on operations and compliance. In this role, Jenny works on financial accounting and reporting, transaction settlements, regulatory requirements, and counterparty communications.

She has over 15 years’ experience in the financial services industry, serving primarily in accounting and compliance capacities. Prior to joining Additive, Jenny worked in an audit and compliance role for Pinnacle Bank (fka Magna Bank) with a focus on industry and government regulations and guidelines for the mortgage servicing industry. She also conducted internal audit functions and developed the bank’s business continuity plan.

Earlier in her career, Jenny served as Accounting Manager for Belvedere Property Management, an affiliate of Moore Capital Management. Prior to Belvedere, she worked for Wells Fargo Home Mortgage Capital Markets Group, where she helped value mortgage portfolios in excess of $170 billion. Jenny began her career as an auditor in the financial services group of PwC.

Jenny graduated with a BSBA in accounting, with honors, from the McDonough School of Business at Georgetown University and passed the CPA examination in Georgia.