Seema Mohanty has over 20 years of experience in the tax-exempt finance business as both a banker and derivatives marketer. She currently serves as swap advisor for a variety of municipal clients with large and complex derivatives portfolios, with a focus on idea generation and structuring (swaps/bonds), dealer proposal evaluation, and ISDA documentation negotiation.
Prior to founding Mohanty & Associates LLC (now known as Mohanty Gargiulo LLC), Ms. Mohanty was a Managing Director and the Head of Derivatives Marketing and Structured Products at UBS. In this role, she managed a group of 20 professionals responsible for issuer and investor derivatives marketing, quantitative bond analysis and lending (including LOC and direct lending structures, such as Total Return Swaps and Index Put Bonds). Ms. Mohanty oversaw the allocation of a $5 billion lending book, the first at UBS, to provide letters of credit and liquidity facilities to tax-exempt clients.
Prior to UBS, Ms. Mohanty was a Managing Director and Head of Issuer Derivatives Marketing at Morgan Stanley. She came to Morgan Stanley in 2001 where she structured, marketed and executed a variety of derivative transactions including interest rate swaps, swaptions, knockout swaps and inflation-linked structures. Ms. Mohanty carefully evaluated the appropriateness of each product within each client’s quantitative and qualitative risk parameters. As a result, she executed a variety of swap structures, on a negotiated and competitive basis, for major infrastructure clients including the City of New York, City of Detroit Water and Sewer, Long Island Power Authority, Dormitory Authority of the State of New York, Metropolitan District of Southern California, the Commonwealth of Puerto Rico, the Lawrenceville School and the New Jersey Turnpike Authority.
Ms. Mohanty began her career at J.P. Morgan as a banker in municipal finance. In 1999, Ms. Mohanty joined JPMorgan’s Risk Management Marketing Group where she focused on providing structuring ideas for tax-exempt clients. She was responsible for developing structuring ideas as well as marketing interest rate derivatives. One of her accomplishments in this role included structuring and executing the first interest rate derivative for UPS’ tax-exempt portfolio.
Ms. Mohanty has a BA in Economics from the University of Michigan and an MBA in Finance and Economics from the University of Chicago. She currently serves on the Board of Directors of the Municipal Securities Rulemaking Board.
Ms. Gargiulo has 20 years of experience in derivatives, structured products, and bond financing. As principal at Mohanty Gargiulo LLC she advises clients on risk-management/hedging and capital markets solutions, hedging, financing, and structured product transactions, market strategy and execution, as well as markets and regulatory developments.
As a Managing Director and Head of Tax-Exempt Investor Derivatives at UBS she was responsible for managing all aspects of derivatives and structured products business with institutional clients and the third party TOB financing program.
Prior to UBS, Ms. Gargiulo was a Principal at Banc of America Securities where she launched institutional investor tax-exempt derivatives business and the third-party TOB program. Within the tax-exempt issuer space, she focused on structured products such as total return swaps, index put bonds and other direct-lending solutions.
Ms. Gargiulo spent 8 years as a structured products and derivatives marketer at JPMorgan. She has worked on structuring, marketing and executing a wide array of interest rate and credit derivatives products for institutional clients investing in tax-exempt securities. Ms. Gargiulo was instrumental in building out the third-party TOB book and starting the tax-exempt issuer direct lending solutions business. She spent 3 years on the corporate derivatives desk where she provided comprehensive risk management solutions to domestic corporate clients. Her work included performing asset/liability analyses to determine the clients' hedging needs and structuring, marketing and execution of various interest rate and FX derivatives transactions.
Prior to attending business school, Ms. Gargiulo was an investment analyst for a USAID venture capital fund in Bulgaria, where she worked on all aspects of deal origination, structuring and execution of debt and equity investments.
Ms. Gargiulo holds an MA in Philosophy from Sofia University and an MBA in finance from Columbia Business School. She currently serves on MSRB Professional Qualifications Committee.
Andrew Rothbaum has been with Mohanty Gargiulo LLC since 2011, providing analytical and quantitative support. His primary focus is on providing valuation and portfolio reporting services for the derivative and investment agreements of the firm’s clients, including daily collateral and ratings monitoring. Mr. Rothbaum also assists with all trade executions, and has aided clients in compliance efforts related to new regulations such as Dodd-Frank.
Before joining Mohanty Gargiulo LLC, Mr. Rothbaum worked as an Analyst for Hercules Technology Growth Capital, a specialty finance firm that provides venture debt to technology and life sciences companies. He was involved in all aspects of the deal origination process, including preliminary deal summaries as well as in depth company due diligence for proposals submitted to the investment committee.
Prior to his time with Hercules, Mr. Rothbaum worked for Wellington Management as part of their Marketing Information Group. He assisted the team with client interactions, including aiding in the responses of RFPs and populating consultant databases with monthly and quarterly investment returns. Additionally, he was responsible for updating annual investment returns in accordance with Global Investment Performance Standards.
Mr. Rothbaum also spent time with GE Capital’s private equity group as part of the Financial Planning & Analysis team. His role involved maintaining the database of all equity investments, as well as working with the investment teams to obtain forecasts used in company planning sessions.
Andrew graduated from Northeastern University with a BS in Business Administration.
Max started with Mohanty Gargiulo LLC in June of 2018. His principal responsibilities include ongoing monitoring of client portfolios, pricing and modeling derivative structures, verification of swap accruals and collateral posting amounts, and compilation of daily and weekly reports tracking the tax-exempt and taxable fixed-income markets.
Prior to starting with Mohanty Gargiulo, Max interned for JP Morgan on the commodities desk with a focus on regulatory monitoring of trade executions. In this role, Max developed an understanding of derivative mechanics and strategies, as well as the regulatory framework for OTC derivatives in the US, APAC, and EMEA.
Max graduated from Franklin & Marshall College with a BA in Business and Economics.