With more than 25 years of experience in the foreign exchange industry, Joe brings a wealth of expertise and deep-rooted relationships to this new industry role. “The opportunity to serve as Chair of the FXPA is truly an honor, and I am committed to upholding the exceptional work of this highly-regarded group,” affirms Joe Hoffman, CEO of Mesirow Currency Management. “I am dedicated to expanding FXPA membership and look forward to collaborating with all members to amplify the unified voice of the FX market, particularly given the ongoing environment of market volatility and persistent risk of recession.”
The FXPA is a unique industry body that represents a diverse cross-section of the FX market that works to advance its mission to represent the collective interests of professional FX industry participants. Since 2014, the FXPA has established itself as a respected industry thought leader and resource for the industry, media and global policymakers.
About Mesirow Currency Management
With more than $156B in currency assets,1 Mesirow Currency Management has been delivering innovative, customized currency solutions to institutional clients globally since 1990.1 Being a private, employee-owned firm, Mesirow is free from many conflicts of interest associated with bank-affiliated organizations or publicly held firms and is fully aligned with the interests of its clients.
About Mesirow
Mesirow is an independent, employee-owned financial services firm founded in 1937. Headquartered in Chicago, with locations around the world, we serve clients through a personal, custom approach to reaching financial goals and acting as a force for social good. With capabilities spanning Global Investment Management, Capital Markets & Investment Banking, and Advisory Services, we invest in what matters: our clients, our communities and our culture. To learn more, visit mesirow.com and follow us on LinkedIn and subscribe to Spark, our quarterly newsletter.
Mesirow was recently named one of the Best Places to Work in Chicago by Crain’s Chicago Business and one of the Top 100 RIA firms by Barron’s.
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[email protected] | Michael Herley | 203.308.1409
Mesirow refers to Mesirow Financial Holdings, Inc. and its divisions, subsidiaries and affiliates. The Mesirow name and logo are registered service marks of Mesirow Financial Holdings, Inc., © 2024, Mesirow Financial Holdings, Inc. All rights reserved. Investment management services provided through Mesirow Financial Investment Management, Inc., Mesirow Institutional Investment Management, Inc. and Mesirow Financial Private Equity Advisors, Inc., all SEC-registered investment advisor, a CFTC registered commodity trading advisors and member of the NFA, or Mesirow Financial International UK, Ltd. (“MFIUK”), authorized and regulated by the FCA, depending on the jurisdiction.
1. Currency assets under management includes AUM associated with (i) active and passive currency risk management products $153.36 billion, (ii) non-fx overlay strategies such as equitization and beta overlays $812.20 million, and (iii) alpha strategies $1.88 billion. In all such cases, AUM is calculated based on notional value of currency investments. Additionally, AUM for alpha strategies is adjusted because clients can select a volatility target (generally between 2% and 12% annualized), which is normalized to 2% in order to create a consistent depiction of alpha strategy AUM. This results in a “scaled” AUM, which is higher than the actual aggregate notional value of all alpha strategy portfolios if clients have selected a volatility target higher than 2%. As of 12.31.2023, the “unscaled” AUM for alpha strategies was $454.60 million.
Award recognition disclosures: https://www.mesirow.com/award-recognition-disclosures
SOURCE Mesirow Financial Holdings, Inc.
