Stéphane Gaillard began his career in 1997 at Crédit Commercial de France in the risk department of the capital market activities, where he implemented the concept of “value at risk” (VaR) on interest rate and foreign exchange derivatives. He then joined the FX options trading team until 2000. Stéphane was also in charge of foreign exchange/interest rate hedging at Alcatel before joining Natixis Paris in 2001, and then leaving for London in 2007, where he headed the commodity derivatives department until 2010. In August 2010, he joined Nomura London, in charge of the exotic options book. He was appointed Managing Director of the emerging markets options book in 2013. Stéphane holds a Masters in Mathematics and a Masters in Financial Markets from the University of Grenoble.