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González Sardinero, Miguel

TELÉFONO

+34 91 448 08 92

CORREO

m.gonzalezsardinero@cunef.edu

DIRECCIÓN

C/ Leonardo Prieto Castro, 2

POBLACIÓN

28040, Madrid

Biografía

Over 23 years of experience in Financial Markets working in the top Spanish Financial Institutions; namely BBVA and, previously, Banco Santander. After completing PhD in Maths and Master Degree in Finance (CEMFI), I started trading Equity Derivatives in Argentaria Bolsa. Nearly two years later I joined Banco Santander as a Subdirector of Market Risk where we worked hard developing a new market risk system. After two years I moved to the trading floor where I traded FX, Interest Rates and Equity Derivatives as a senior trader. In 2001, I joined BBVA where I have developed the bulk of my professional career that started trading derivatives and developed exotics derivatives  in all the assets classes, including commodities. I got a position as a Global Head of New Products and Director of the bank, that was upgraded to a Corporate Director in 2009 with responsability of all the value chain of the Interest Rates product (Trading, Sales, Structuring and Research). Since then, I have tried to expand BBVA interest rates product capabilities across all geographic regions where we were present: Europe, Latam, USA and Asia. Last period, big part of time was dedicated to the implementation of CVA and FVA, besides unable all our trading thoroughout the major electronic platforms. Last two years I was member of the Global Markets Management Committee. Additionaly,  I was geographical responsible for Asia during 2013 and 2014, making it compatible with my other aforementioned responsability.
In February 2016, I left BBVA to be dedicated to trade my own portfolio and in September I joined CUNEF as a professor of its Posgraduate Studies.

Formación Académica

  • PhD in Algebra – Zaragoza/Glasgow University ended July 1991. Dissertation: “Embeddings of CC groups”. Magna cum laude. Published throughout several articles in Journal of Algebra, Proceedings of American Mathematical Society, Manuscripta Mathematica and Communications in Algebra
  • Master in Finance - CEMFI (Institute for Monetary and Financial Studies, Bank of Spain), 1989-1991. Dissertation: “ El Karoui-Rochet formula for options on coupon bonds”
  • Master degree in Pure Mathematics – Zaragoza University, 1987 (Spain). Special award, second marks.
  • FEDEA ( Foundation for Applied Economic Studies, Madrid)

Áreas de Interés

My primary area of interés and professional development has been derivatives (valuation and trading) as it combines together my technical background with financial market practise. The career path has been mostly developed in trading af all asset classes: Predominant Fixed Income but also Equity, Foreign Exchange even Commodities.

The progress in my career throughout different trading positions unleashed determinant interest by global macroeconomy with a special emphasis in monetary policy, emerging markets and financial sector as a primary areas. Lately, Regulation was a mandatory area to be focus on. 

In spite to my evolucion to finance I cannot skip my latent interest by  Mathematics, although with the time I have become particulartly interested in its applications to Economy and Finance

As a result of my protracted global role in BBVA, I have developed a strong international  interest starting by International Finance but extended to other fields like to look at Spanish enterprises increasing international exposure, education, supranational public institutions and, in general,  global and international educational terms that cuold be useful adopting in our domestic society.

 

 

Trayectoria Profesional

  • February 2016 to present. Managment of my own trading portfolio thoroughout Fixed Income, Equity and Fx financial instruments. Professor of CUNEF
  • March 2001-Feb2016. BBVA. Extensive career starting as a Head of Equity Exotic derivatives desk in Europe to end up as  Global Head of Interest Rates and member of Global Markets Management Comitee. Aditionally, I have been geographical head of Asia during 2013 and 2014.
  • June 1994-March 2001. Banco Santander. First stage as a Subdirector of Market Risk in the Rist Department and second as a senior derivatives trader in FX, interest rates and equity in the Markets Area
  • September 1992- June 1994. Argentaria Bolsa. Equity derivatives trader and extensive cash-future equity arbitrage

Publicaciones Destacadas

  • The Extension of Results Due to Gorchakov and Tomkinson from FC-Groups to CC-Groups. Journal of Algebra 185, 314-328 (1996) (with Javier Otal).
  • Embedding theorems for Residually Chernikov CC. Groups. Proceddings of the Americal Mathematical Society 123, 2323-2332, 1995 (with Javier Otal).
  • Valuation of Hard-Basket ECU. A model for N countries. FEDEA. Working paper 92-13, (1992)
  • El Karoui-Rochet formula for options on Coupon Bonds. CEMFI, Working paper number 9201, (1991)
  • P. Hall´s Covering Groups and Embeddings of Countable CC-Groups, Communications in Algebra 18, 3405-3412, 1990 (with Javier Otal).
     

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