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Frank  Casey

Frank Casey

Financial Expert, Race Rock Capital LLC

Biography

Mr. Casey is a 42-year finance veteran, with experience in both alternative investments and hedging corporate/bank risks. Prior to joining Race Rock, Frank was a Managing Partner with PEAQ Capital Strategies, LLC, a systematic quantitative manager of shorter-term counter-trend trading systems. Frank served as the President of the U.S. arm of London-based Close Brothers-Fortune Asset Management. Read More >

He also helped build Benchmark Plus, a hedge fund of funds, nearly tenfold to $2 billion in assets over 6 years.

Mr. Casey also was the covert investigatory member of the group at Rampart Investments that discovered Bernard Madoff's fraud in early 1999, and is a co-author of the New York Times bestselling book No One Would Listen and the documentary film Chasing Madoff, which recount events surrounding the Rampart team's discovery of the Madoff fraud and efforts to bring Madoff's crimes to prosecution.

In 1982, Frank innovated bank risk management efforts at Prudential Securities, hedging the nascent mortgage-origination/MBS-pipeline risks arena. In 1974, Frank joined Merrill Lynch to serve wealthy investors, innovating equity-option portfolio management. At Merrill he also launched the company's northeast area corporate risk management initiatives, specializing in equity, oil and metals derivatives. Frank served four years in the US Army and was an Airborne-Ranger Qualified Infantry Captain. Read Less ^

Speaker Videos

APB Presents: Frank Casey

Speech Topics

Lessons from the Madoff Fraud

In early 1998, Frank Casey joined Rampart Investments, where he met portfolio managers Harry Markopolos and Neil Chelo.  The three formed the core team that began blowing the whistle to the SEC on Bernard Madoff’s Ponzi scheme in May of 2000. Read More >

In this session, Casey will share the inside story of how he and his colleagues exposed the Ponzi scheme and how their efforts to draw regulatory attention to the matter went unanswered. He will examine why due diligence by regulators and hedge funds failed, suggest what needs to be done to prevent the situation from repeating itself, and discuss lessons we can all learn from the Madoff scandal. Read Less ^

Financial Gatekeepers: Building a More Robust System for Our Financial Future

As an expert witness for plaintiff’s counsel in suing private-banks and other allocators of client assets to the Madoff fraud, Frank Casey often develops the arguments for their failed adherence to Fiduciary Requirements - The Prudent Man Rule, Due Diligence and Stewardship of client assets. Read More >

In this session Casey shares his TIPS methodology, a system for evaluation that involves Third-party verification, Internal controls, Pedigree, and Strategy or Structure. He believes that at least 75% of due diligence is qualitative in nature, and thus must be systematically approached. Read Less ^

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