Terry Benzschawel began his career in investment banking at Salomon Brothers in 1992. There he built models for proprietary trading in bonds, currencies and derivative securities in the fixed income arbitrage group. In 1998 he moved to Citigroup, becoming a quant and subsequently managing director on the bank’s credit trading desk.
Terry left Citigroup after 21 years to start Benzschawel Scientific, a company specialising in algorithmic trading strategies, financial education and advanced model development. He has been a pioneer in neural network modelling, having built network models that detect fraud on credit card transactions (1992), pick mutual funds (1994) and trade US Treasury bonds (1998), as well as credit-picking robots (2004) and market-making models in high-yield bonds (2017).
Terry received his BA (with distinction) from the University of Wisconsin in 1975 and a PhD in experimental psychology from Indiana University in 1980. He received a post-doctoral fellowship in optometry at the University of California at Berkeley and one in ophthalmology at the Johns Hopkins University School of Medicine and was a visiting scientist at the IBM Thomas J. Watson Research Center. He has lectured at major universities as well as the Russian central bank.
