PECORA CAPITAL LLC
MIAMI, FLORIDA

Aaron Smith is the founder & managing director of Pecora Capital. He oversees the company’s global business strategy and research activities for the development of proprietary trading technologies. Aaron maintains the series 3 license in the United States and is a member in good standing of the National Futures Association. Mr Smith holds a degree in finance and international business from the Leonard N. School of Business at New York University. He began his career on Wall Street working in the Private Client Group at Morgan Stanley’s 2 World Trade Center offices. Prior to founding Pecora Capital, Aaron served as managing director at the Superfund group of companies from 2002 to 2011. During his time with the group, he was responsible for front office activities, including the development and sales of various alternative investment fund structures for institutional and private investors. In 2002, he pioneered one of the first publicly offered managed futures funds in the United States, which was registered with the SEC. In addition to serving as the associated person in the United States regulated Superfund entities, he was the responsible officer for Types 1 and 4 regulated activities under the Securities and Futures Ordinance for Superfund Financial (Hong Kong) Ltd. He also became a licensed financial advisor in Singapore in 2008 and ran the Asian arm of the business, carrying on the duties of Chief Executive Officer of Superfund Financial (Singapore) Pte Ltd. Thomas is directly responsible for the value investment strategy of Pecora Capital. Prior to joining Pecora, Thomas worked for the management consulting firm Deloitte & Touche in Zurich and served global investment and private banks. Thomas is a graduate of the University of Erlangen Nuremberg. He has twelve years of experience in financial markets and over eight years of experience in developing and structuring investment portfolios for private investors and family offices. Thomas maintains the series 3 license in the United States and is a member of the National Futures Association (NFA). Further, Thomas is an avid tennis player and aviation enthusiast. Max Ferri is an independent, non-executive director of the Pecora Capital Fund. Mr Ferri has over 17 years of experience in the financial markets, including 8 years of direct investment management and tax experience working for a private bank in the Caribbean (1999-2006), and 7 years of hedge fund consultancy, legal, tax and operational due diligence experience working as Managing Director/Head of Operational Due Diligence for Laven Partners in London (2006-2012). Mr. Ferri has performed investment and operational due diligence visits with top tier investment managers all over the world, and has experience in hedge funds, fund of funds and private equity fund structures. He was most recently a co-author and committee member for various AIMA publications, including the 2014 Hedge Fund Manager’s DDQ. He holds a degree in management from the Barbados Community College, and has passed his Level 3 (Unit 1) IMC CFA Society exam in the UK. He is currently pursuing a Master's Degree in Finance from the University of London. Mr. Ferri is an Approved Director registered with the Cayman Islands Monetary Authority (CIMA). Aaron Smith is the founder & managing director of Pecora Capital. He oversees the company’s global business strategy and research activities for the development of proprietary trading technologies. Aaron maintains the series 3 license in the United States and is a member in good standing of the National Futures Association. Mr Smith holds a degree in finance and international business from the Leonard N. School of Business at New York University. He began his career on Wall Street working in the Private Client Group at Morgan Stanley’s 2 World Trade Center offices. Prior to founding Pecora Capital, Aaron served as managing director at the Superfund group of companies from 2002 to 2011. During his time with the group, he was responsible for front office activities, including the development and sales of various alternative investment fund structures for institutional and private investors. In 2002, he pioneered one of the first publicly offered managed futures funds in the United States, which was registered with the SEC. In addition to serving as the associated person in the United States regulated Superfund entities, he was the responsible officer for Types 1 and 4 regulated activities under the Securities and Futures Ordinance for Superfund Financial (Hong Kong) Ltd. He also became a licensed financial advisor in Singapore in 2008 and ran the Asian arm of the business, carrying on the duties of Chief Executive Officer of Superfund Financial (Singapore) Pte Ltd. Thomas is directly responsible for the value investment strategy of Pecora Capital. Prior to joining Pecora, Thomas worked for the management consulting firm Deloitte & Touche in Zurich and served global investment and private banks. Thomas is a graduate of the University of Erlangen Nuremberg. He has twelve years of experience in financial markets and over eight years of experience in developing and structuring investment portfolios for private investors and family offices. Thomas maintains the series 3 license in the United States and is a member of the National Futures Association (NFA). Further, Thomas is an avid tennis player and aviation enthusiast. Max Ferri is an independent, non-executive director of the Pecora Capital Fund. Mr Ferri has over 17 years of experience in the financial markets, including 8 years of direct investment management and tax experience working for a private bank in the Caribbean (1999-2006), and 7 years of hedge fund consultancy, legal, tax and operational due diligence experience working as Managing Director/Head of Operational Due Diligence for Laven Partners in London (2006-2012). Mr. Ferri has performed investment and operational due diligence visits with top tier investment managers all over the world, and has experience in hedge funds, fund of funds and private equity fund structures. He was most recently a co-author and committee member for various AIMA publications, including the 2014 Hedge Fund Manager’s DDQ. He holds a degree in management from the Barbados Community College, and has passed his Level 3 (Unit 1) IMC CFA Society exam in the UK. He is currently pursuing a Master's Degree in Finance from the University of London. Mr. Ferri is an Approved Director registered with the Cayman Islands Monetary Authority (CIMA).