Michael Naughton is a Portfolio Manager for the Structured Securities team at BNP Paribas Asset Management. He is responsible for identifying relative value opportunities within the MBS derivatives and CMO markets. He joined FFTW, a predecessor of BNP Paribas Asset Management, and is based in New York. Prior to joining us, Michael worked at Cohen & Co. Securities, where he was a Managing Director, responsible for trading agency MBS with a focus on mortgage derivatives and new issue underwriting. Prior to that, Michael spent eight years as a Portfolio Manager with West Side Advisors, a mortgage hedge fund. His other experiences include Countrywide Securities as a non-agency trader and UBS Securities as an agency MBS trader. Michael began his career at Bear, Stearns & Co. where he was the Head of the CMO structuring group.

Michael has 30 years of investment experience. He holds a BS in Operations Research and Industrial Engineering from Cornell University.