Boris Richard is a Managing Director in the FTI Consulting Forensic & Litigation Consulting segment and is based in Washington, DC. His career spans more than 20 years as a senior fixed income strategist, bond trader, quantitative hedge fund manager, and a litigation consultant and expert. Mr. Richard has substantial complex case management experience and litigation consulting knowledge with practical expertise in mortgage-backed securities, trading and investments. He has deep experience in agency and private-label RMBS, rates products (U.S. Treasuries, swaps, SSA bonds, Treasury and Eurodollar futures) and interest rate derivatives (swaptions, caps/floors).
Prior to his consulting career, Mr. Richard was head of agency debt strategy at Barclays Capital in New York and actively participated in establishing the company as a key player in the agency debt markets. He also played a key role in marketing and distribution of complex agency and non-agency structured MBS securities at Goldman Sachs in New York. Later on, he worked as a market maker in callable agency bonds at HSBC Securities USA, and he was a quantitative MBS portfolio manager at several large multi-strategy hedge funds, working alongside top finance academics and generating a significant contribution to the investment book profits of over $400 million.
Mr. Richard has provided affirmative and rebuttal econometric analyses in numerous settings including loss causation and damages studies in RMBS litigations, fixed income and credit spreads, as well as corporate bond and REIT preferred stock event studies. His litigation case experience includes valuation analyses for fixed income products and interest rate derivatives, as well as analysis and opinion on institutional trading practices in government bonds, fixed income and derivative products in G10 and Emerging Markets in the context of anti-trust regulatory investigations and insider trading matters.
Most recently, Mr. Richard has established himself as a go-to expert in the area of cryptocurrencies, blockchain economics, initial coin offerings, and digital token valuation and performance. He has a thorough understanding of the evolving regulatory and enforcement framework for cryptocurrencies and digital assets in the U.S. and abroad, as well as a comprehensive perspective on the emerging private litigation involving ICOs and digital tokens. He is actively involved in public discussions, blockchain events, panel presentations, education and publishing on the issues of cryptocurrencies and crypto regulation.