Peter Warren has been a trader, market maker and fund manager since the 1980s. He now becomes chief investment officer at H100, where he will trade options and other derivatives on the company bitcoin holdings.
"The development of the bitcoin derivatives market, and options in particular, is creating an increasingly broad opportunity set for sophisticated portfolio management. What makes this particularly interesting today is how technology has changed what a small and highly specialised team can accomplish," says Peter C. Warren.
The appointment follows the acquisition H100 recently completed. Before the transaction, Warren managed around 2,450 bitcoin through Moonshot AS and its subsidiary PDI AS, together with Eirik Grøttum, who was appointed chief executive of H100 this week. With the acquisition completed, the company reports total holdings of 3,506 bitcoin. Warren therefore takes on investment responsibility for a balance sheet on which he already managed roughly seven out of ten bitcoin.
Warren has more than 45 years of experience across global capital markets, including as a trader, market maker, fund manager and chief investment officer. His expertise spans investment management, derivatives, capital markets, portfolio and risk management, and financial strategy. He has also founded and built several financial businesses and has extensive board experience from investment and technology companies.
That is the experience H100 is now placing on top of its bitcoin holdings. The company says Warren will lead the continued development of its derivative investments and its risk management work, through the active management conducted in PDI AS. The aim is to generate additional cash flow while limiting downside risk and retaining exposure to bitcoin's long-term potential.
"We have developed our own technology that enables us to execute and manage strategies that historically would have required significantly larger trading desks and infrastructure. Combining that technology with H100's bitcoin holdings gives us an exciting platform from which to operate," Warren says.
His point is that a small team can today run strategies that previously required an entirely different organisation around them. That is also what connects this appointment to the acquisition: Moonshot and PDI brought with them the developer team that builds the systems.
"Peter brings more than four decades of experience from trading, investment management and global capital markets. Few investors in the Nordics have navigated more market cycles, and that perspective is exactly what a balance sheet of our scale needs from its investment function," says Sander Andersen, executive chairman of H100 Group AB.
Andersen adds that Warren and Grøttum bring capabilities that complement the rest of the team, and that this is the leadership the company is building its next phase around.
Sources: H100 Group AB, Kaupr
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