FHLB Seattle

In 1981 Jim Klein began his Asset/Liability Management career with the Federal Home Loan Bank of Seattle, managing billions of dollars in assets and liabilities, trading a $100 million portfolio of US Treasuries, and a billion dollars of fed funds.

Klein also traded futures, options, and swaps, doing the first interest rate swap with the First Boston Corporation.

Citibank

Recruited to Citibank, Klein was responsible for interest rate risk for the $25 billion consumer and mortgage portfolios, managing traders in cash, futures, options, and swaps, and trading his own account.

Home Owners Federal Savings

Hired then as A/L specialist and Treasurer with a Boston thrift and mortgage originator, Klein managed the end of the bear market and positioned the institution to take advantage of falling rates

Proposed Chairman and CEO

Klein left Home Owners and was recruited by investors to find and manage a troubled thrift. The 1987 crash in the stock market ended that episode.

Mortgage Banking

Paterson was created in 1990 as a mortgage banking operation.

During the bull market for the past few years, Jim has been a mortgage banker, originating and refinancing loans while advising clients on A/L issues.

Other portfolio risks

In recent years, Paterson built risk models to deal with Credit, Currency, Trading and Audit risks.

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