Founder and Co-CIO
Prior to the formation of Tolis Advisors, Mr. Banks spent the majority of his career at Bear, Stearns & Co., dating from October 1996 through January 2006. Although his initial role at the firm was as a member of the database group, the majority of Mr. Banks tenure at the bank was spent originating and analyzing Structured Credit assets. Throughout this period, Mr. Banks’ functions included structuring, banking, research and trading. His final role at the investment bank was as Co-Head of CDO Trading. Mr. Banks received a B.A. in Economics, with a minor in Mathematics, from the University of Pennsylvania.
Partner, Portfolio Manager and Co-CIO
Prior to joining Tolis Advisors in 2009, Mr. Parker was the Head of U.S. Structured Credit at BNP Paribas Fortis, and before the acquisition of Fortis Bank by BNP Paribas, held a similar position at Fortis Bank. Mr. Parker joined Fortis Bank in 2005 to lead CDO Structuring and was later assigned responsibility for managing and hedging the firm’s North American structured credit cash and derivatives portfolio. In that role he focused on ways to reduce risk on legacy assets through opportunistic sales and efficient short selling via CDS. Previously, he worked for five years at Société Générale where he headed U.S. CDO Structuring. While at Société Générale he managed a distressed CDO proprietary investment and trading portfolio to capitalize on the disruption of the corporate collateralized structured credit markets in 2003 and 2004. Mr. Parker developed the investment methodology and analytical models for the strategy. The portfolio was profitably liquidated by the end of 2004, as market conditions normalized and Mr. Parker transitioned back to structuring primary issue CDOs. Mr. Parker began his career at Bear, Stearns & Co. in 1997 as a reverse engineer within the firm’s Financial Analytics and Structured Transactions Department. He was responsible for modeling Agency CMOs, non-Agency RMBS, Re-REMICs, and other mortgage related assets. In 1998, he transitioned to structuring CDOs until leaving Bear Stearns in 2001. Mr. Parker received an A.B. in Biology from Harvard University.
Partner, COO, CFO and CCO
Mr. Puliafico joined Tolis Advisors in the fourth quarter of 2012. He was formerly a Managing Director at JPMorgan Investment Bank in the Technology and Operations Division. He joined JPMorgan Chase in 2008, as part of the Bear, Stearns & Co. merger, and has been in the securities industry for more than 25 years. He was responsible for managing the OTC Clearing Strategic Initiatives Program. Prior to that he held the position of Global Head of the JPMorgan Credit Trading & Syndicate Middle Office. Mr. Puliafico began his career at Bear Stearns as a Management Trainee in Operations and, immediately prior to the merger in 2008, was a Senior Managing Director responsible for the Global Credit Trading, Mortgage Derivatives, Emerging Markets and FX Middle Offices. Mr. Puliafico has an M.B.A. in Finance with a concentration in Economics, and a B.S. in Business Information Systems & Management from New York University’s Leonard N. Stern School of Business Administration.
Principal, Trading & Portfolio Management
Mr. Portnoy joined Tolis Advisors in the third quarter of 2014, Mr. Portnoy was a Portfolio Manager responsible for managing US Non-Agency Residential Mortgage Backed Securities on behalf of the StabFund, a vehicle established by the Swiss National Bank and UBS. Mr. Portnoy was responsible for all trading and risk management decisions related to RMBS and Asset Backed Collateral Debt Obligations. Prior to joining the StabFund’s management team in 2008, Mr. Portnoy was a Portfolio Manager in UBS’s Workout Group I, responsible for a multi-billion dollar portfolio, by market value, of Non-Agency RMBS cash securities and Credit Default Swaps (CDS). Mr. Portnoy was tasked with reducing balance sheet and credit risk exposure. Mr. Portnoy joined UBS in 2007 as a Director in Non-Agency RMBS Trading. His primary responsibility was to make markets in securitizations backed by Home Equity loans. Prior to joining UBS, Mr. Portnoy was a Director at Fortis charged with trading Asset-Backed Securities. His primary responsibility was to manage a portfolio of Non-Agency Securities. Additionally, he was a key member of the team mandated to manage risk as well as evaluate the bank’s growing asset backed portfolio. Mr. Portnoy began his career at Bayview Financial in 1995 as an Analyst in Whole Loan Trading. Mr. Portnoy received a B.A. in Economics from Stockton College.