Advocate Capital senior management team has decades of first-hand institutional experience in risk management.

Advocate Senior Management Profile Deep Understanding of Market Risk

Scott Peng, PhD

Founder & CEO/CIO

Scott has more than 25 years of investment experience on both the sell-side and buy-side. Prior to founding Advocate, he was head of Portfolio Solutions at Secor Asset Management. Scott was previously a Managing Director and Head of the Portfolio Solutions Group at Credit Suisse and has held a variety of senior portfolio management, trading, strategy and risk advisory positions at firms such as BlackRock, Citigroup, and Oak Hill.

Scott is co-author of the book The Structured Note Market (McGraw-Hill) and has published extensively on global capital markets. During the Global Financial Crisis, his analysis of interest rate market anomalies resulted in the article "Is LIBOR Broken?" which was featured on page one of the Wall Street Journal (April 16, 2008) and led to the global investigations into LIBOR that continue to this day. Scott holds a PhD in Applied Plasma Physics from the Massachusetts Institute of Technology and received his B.S. in Nuclear Engineering from Texas A&M University.

Barry Tse


Barry has over 20 years of experience in derivatives, both in fixed income and equities, and has an extensive background in portfolio management, trading, risk management and operations.  He was formerly the Head Trader for the Mariner-Aroya Opportunity Fund at Mariner Investment Group.  Before joining Mariner, he worked as a consultant at Bluefin Trading, focusing on establishing the broker-dealer sell-side of the business, including creating the framework and policies for the market and operational risk for the subsidiary, prior to which he was employed at Bear Stearns in the Equity Derivatives Department and the Principal Strategies Group.  At Bear Stearns, Barry worked as a Managing Director Principal specializing in volatility arbitrage portfolio management, and later was instrumental in building and establishing the $3B Principal Strategies Group, including areas such as trading, legal, technology, risk and operations.  Before joining Bear Stearns, he worked as an analyst at SMBC Capital Markets in market, credit and operational risk departments.  Barry holds a B.A. in Economics from Cornell University.