Steven Abrahams is a co-founder and CEO of Milepost Capital Management. He has 24 years of experience in markets and investment strategy.
Prior to Milepost, he served as Managing Director and Head of MBS and Securitization Research at Deutsche Bank, where he sat on the Global Fixed Income Research Executive Committee and the Fixed Income Research Global Strategy Group. Steve’s 17-member team at Deutsche Bank provided market analysis and investment advice on securities backed by residential and commercial mortgages and consumer and business loans. The team covered broad issues in structured finance and portfolio construction including the implications of accounting, regulatory and legislative change. The group consulted to Deutsche Bank’s trading and sales organizations, banking, risk and general management. It also consulted to the investment portfolios of many major banks, asset managers, insurers, pensions and hedge funds. Steve has advised policymakers at the US Treasury, the Federal Reserve, the Federal Housing Finance Agency, the Federal Housing Administration, the Federal Home Loan Bank System, the Consumer Finance Protection Bureau and elsewhere.
Steve joined Deutsche Bank in March 2010 from Citadel Investment Group. He previously was a Senior Managing Director at Bear Stearns, where his agency MBS and global rates research team was regularly ranked by Institutional Investor. In 24 years on Wall Street, he has also held senior positions at Freddie Mac and Morgan Stanley.
Steve holds a B.S. from Northwestern University and a Ph. D. from Columbia University. He currently teaches as an adjunct professor of finance and economics at Columbia Business School and sits on the boards of community organizations in New York and New Jersey.
C. Brian Egnatz
C. Brian Egnatz is a co-founder and Chief Investment Officer of Milepost Capital Management. He has more than 30 years of experience in managing bank investment portfolios and in the US structured products and rates markets.
Before joining Milepost, Brian was a Managing Director and Chief Investment Officer of HSBC Bank N.A., managing the bank’s $50 billion US investment portfolio within the office of balance sheet management and reporting to the Treasurer and Regional Head of BSM. He was responsible for the interest rate risk of the portfolio and all asset selection, including restructuring of legacy non-agency credit positions to improve capital ratios. He managed a 4-person trading team and represented the portfolio in ALCO, valuation committee, business continuity, risk management, regulatory and markets meeting globally, regionally and in North America. He also coordinated with market risk management, product control, regulators and auditors both internal and external.
Prior to HSBC, Brian spent 17 years as a Managing Director in the office of CIO at JP Morgan Chase, co-heading the $125 billion US investment portfolio and hedging the bank’s mortgage servicing rights. While at JP Morgan, Brian and his 10-member team introduced novel ways to lower the cost of portfolio funding and add return and also introduced a credit portfolio to diversify risk. He also had responsibility of advising JP Morgan and its clients on acquisitions of banks, mortgage originators and servicing operations.
In recognition of his markets expertise, Brian served five years on the Federal Reserve’s Treasury Markets Practices Group (TMPG) and consulted regularly to SIFMA, Fannie Mae, Freddie Mac and Ginnie Mae on product design and market practices, and FASB on related accounting issues.
Brian graduated from Indiana University in Bloomington, Indiana, with a bachelor’s degree in chemistry and mathematics.
Michael Buttner is a Senior Consultant to Milepost Capital Management for investment strategy.
Michael has more than 30 years of experience in the financial services industry. His most recent role was with the mortgage REIT, Hatteras Financial, were Mr. Buttner was the Chief Risk Officer with the responsibility of managing the firms interest rate and operational risk as well as building a whole loan conduit and mortgage servicing rights businesses. From 1990 until 2013, Michael held several senior positions with First Union and its successors, Wachovia, and Wells Fargo. This included Head of Bank Strategy and Head of Mortgage Trading at Wells Fargo Securities. Earlier he led the team that manages the pipeline/warehouse and mortgage servicing rights risk at Wells Fargo Home Lending. Previously, his titles include Head of Balance Sheet Management, where he was responsible for managing the bank's interest rate risk, investment portfolio, retained mortgage assets and mortgage servicing rights; and CEO of Dublin Ireland based Wachovia Bank International. Michael began his career in New York working for Contitrade Services, a Continental Grain subsidiary, and Salomon Brothers in analyst and accounting roles.
Michael holds a BS in Finance and an MBA in Accounting from Fordham University.