Seema Mohanty

Managing Director

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 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.

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. 

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.

Zoya Gargiulo

Managing Director

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


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.

Mohanty Gargiulo LLC

230 Park Avenue, 3rd Floor, New York, NY 10169
Direct: 212-300-3327      |      Fax: 212-898-9091     

Mohanty Gargiulo LLC is registered as a Municipal Advisor with the U.S. Securities and Exchange Commission and the Municipal Securities Rulemaking Board, as well as a Commodity Trading Advisor with the Commodity Futures Trading Commission.  We are also a certified Minority and Women-Owned Business Enterprise.