Brett Houghton is a managing director. Brett has over 20 years of experience structuring, trading, and investing in structured products with a focus on life and catastrophe insurance markets. Prior to joining Fermat Capital in 2010, Brett was managing director at Rochdale Securities, where he established and managed its fixed-income trading operations. At Rochdale, Brett specialized in insurance-linked securities, corporate-credit obligations, and asset-backed securities. Brett was also responsible (at Lehman Brothers and Aon Capital Markets, both pioneers in the ILS market) for structuring and trading a broad range of life and non-life products as well as private credit securities including whole business securitizations, CLOs, and ABS CDOs. Brett earned an ASA from the Society of Actuaries (1998) and BS degrees in mathematics and statistics from the University of Michigan (1995).