Speaking on FI Roundtable 3: Creating a common benchmark for TCA, and Panel Xchange: Unveiling the modern execution trader

Sean is currently navigating a desk merger with Federated, overseeing a team of 5 traders from his side and 7 from Hermes. While directly managing the Hermes traders, he plans to integrate others with expertise in Fixed Income, credit specialists, and FX, adopting a low-touch vs. high-touch model. Moving away from asset-specific desks, Sean emphasises a collaborative approach, particularly valuing alpha generative traders, who contribute trade ideas and advise PMs. Passionate about creating a common benchmark for Fixed Income Transaction Cost Analysis (TCA), Sean focuses on both execution and alpha contributions, rewarding traders annually based on benchmark metrics and alpha generative performance. In the evolving landscape with a trend towards juniorisation and fee consolidation, Sean recognises the continued importance of a people-centric business. Performance metrics are communicated through showcasing trade idea delivery and consumption in portfolios.