Principals

Founding Partners & Advisory Board
Efficient's Founding Partners & Advisory Board



Ernest L. Jaffarian
Mr. Jaffarian is the Founder, President and Chief Executive Officer of Efficient Capital Management, LLC ("Efficient"), and chairs the Executive Management Committee. In 1986 he joined Chicago Research & Trading Group (CRT) as a member of the proprietary trading group on the floor of the Chicago Board Options Exchange (CBOE) and rose to position of Senior Vice President for OTC Treasury Options. Immediately prior to founding Efficient, Mr. Jaffarian was responsible for the managed futures department of Hull Equity Management, LLC and for the allocation of Hull Trading Company, LLC’s proprietary capital among trading advisors. Mr. Jaffarian holds a Series 3 license and is a veteran of over 20 years within the alternative investment industry in the areas of trading, portfolio construction, and risk management..



W. Judson Aulie
Mr. Aulie currently serves as the Chief Risk Officer of Efficient Capital Management, LLC, and is a member of the Executive Management Committee. He was previously the Chief Investment Officer at Efficient. Prior to his time with Efficient, Mr. Aulie was with Chicago Research & Trading Group (CRT), where he had 7 years of floor trading experience. At CRT he managed a team in equity arbitrage and was a market maker for hedging activities. Mr. Aulie has been a member of both the Chicago Board of Trade (CBOT) and the Chicago Mercantile Exchange (CME). He began his career as an auditor for the CME. Mr. Aulie is a Certified Public Accountant, holds a Series 3 license, and has more than 21 years of industry experience.



Andrew J. Brumbach
Mr. Brumbach was the Senior Strategist and Head Trader at Efficient Capital Overlay, LLC. Prior to that he was a Principal of Global Exchange at Bank of America, trading options on Japanese Government Bonds (JGBs) on the Tokyo Stock Exchange from 1992-2000. Mr. Brumbach has more than 12 years of full-time industry trading experience.


James R. Brumbach
Mr. Brumbach was an OEX market-maker ("REV") for Chicago Research and Trading Group (CRT), on the Chicago Board Options Exchange (CBOE). He was a member of the CBOE from 1983 to 1992 and has more than 9 years of industry experience.


Gary D. Ginter
Mr. Ginter is the Chairman and CEO of VAST Power Systems and is a founder and Managing Member of Catalytica, LLC, and St. Croix Asset Management, LLC. Gary was formerly a Principal of Hull Trading Company, LLC, the Managing Director of Globex, and one of the founding partners of Chicago Research & Trading Group (CRT). He was selected as one of 25 people who most shaped the futures industry by Futures magazine and has more than 32 years of industry experience.



William C. Floersch
Mr. Floersch serves on the Board of Advisors and Executive Committee of Efficient Capital Management, LLC. He also serves on the Board of Advisors of GLL Investors, a fund of hedge funds. Mr. Floersch is President and Chief Executive Officer of Fortis Clearing Americas LLC. He had been President and CEO of O'Connor & Company LLC from 1997 until O’Connor was acquired by Fortis Bank in January 2006. An active market maker on the floor of the Chicago Board Options Exchange (CBOE) since becoming a member in 1974, Mr. Floersch served as Vice Chairman of the Board and Chairman of the Executive Committee of the CBOE from 1991 to 1997. He has served as Vice Chairman of the Board of Options Clearing Corporation, the central US clearing utility for all the options markets. Mr. Floersch also served a term as Chairman of the Board of the former Board of Trade Clearing Corporation, and has more than 33 years of industry experience.


Peter J. Layton
Mr. Layton serves on the Board of Advisors of Efficient Capital Management, LLC, and is currently the Chairman of the BOX Options Exchange. He has previously served as a Managing Director at Goldman Sachs, and as a Principal of Hull Trading Company, LLC, and Hull Equity Management, LLC. Mr. Layton has more than 25 years of industry experience.


Lim Hua Min
Mr. Lim is the founder and Executive Chairman of the Phillip Group of Companies including Phillip Securities PTE Ltd. and Phillip Futures PTE Ltd., with offices in Singapore, Hong Kong, Jakarta, Kuala Lumpur, Sydney, Melbourne, London, Tokyo, Bangkok, Shanghai, and Paris. Mr. Lim has more than 30 years of industry experience.


Anthony J. Saliba
Mr. Saliba is the President and Chief Executive Officer of LiquidPoint, LLC, a BNY ConvergEx Group company and a Director within BNY ConvergEx Group’s Senior Executive Management Team. LiquidPoint LLC, is a listed options execution and trading technology firm that provides services to institutional traders, prime brokers, hedge funds, financial intermediaries, and options exchanges. Mr. Saliba was formerly a Board Member of Chicago Board Options Exchange (CBOE) from 1987-1989. He was featured in Jack Schwager's book Market Wizards and has more than 32 years of industry experience.


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