CEO, DIRECTOR, PF2 USA
Gene Phillips is the Chief Executive Officer at PF2. Gene was previously on the buy-side at a hedge fund within Citigroup Alternative Investments. He began his career in the Derivatives group at Moody’s Investors Service. Gene has written extensive research on debt and credit concerns, including pricing and manipulation in the realm of corporate and structured finance securities; litigation and cultural concerns at financial institutions; and whether credit ratings should be afforded First Amendment protections. More recently, he has concentrated on inefficiencies in market mechanisms. His research and commentary has received numerous press citations in publications such as The Financial Times, New York Times, Wall Street Journal and BusinessWeek. Gene holds a BSc degree in mathematics and applied mathematics, and a BSc Hons degree in the Advanced Mathematics of Financial Derivatives, from the University of the Witwatersrand in South Africa.
"The assumptions that are the basis for Mr. Phillips’ analysis are clearly explained and appear to be reasonable, including reducing projected earnings at the outset to reflect the terminated contracts, assuming a growth rate based on annual increases from actual contracts, and based on the actual growth rate of mining personnel [...] in the same geographic area where Crusader operated, and adopting an earnings multiplier that appeared to be conservative. Although other valuation methodologies and other comparables at least in theory might have been used, this one had the benefit of being based on available data. Particularly, since Defendant had no criticism of Mr. Phillips’ estimate or his analysis, his expert opinion is sufficient to establish by a preponderance of the evidence that, but for Defendant’s unlawful bribe, Crusader’s residual business would have survived and had a value of $13,606,609 as of September 30, 2022."
— Trial judge, United States of America v. Glencore International A.G. (case no. 22-cr-297), in the Southern District of New York
Recent Articles and Publications
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Zachary Mazin, Daniel Hendler and Gene Phillips, “A case for experienced legal counsel on COVID-Era financial markets and products litigation,” Attorney Analysis – Westlaw Practitioner Insights, 2020 WL 5733216
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Gene Phillips, “Damages: risk exposure as an element of damages in financial and privacy litigation,” Thomson Reuters Expert Analysis – Westlaw Practitioner Insights, 2020 WL 4013041
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Gene Phillips and Joe Pimbley, “The Myer Ruling and its Limitations,” Commercial Law Quarterly, 34(1), 2020
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Ron Bewley and Gene Phillips, “On testifying experts and their misuse of models,” Commercial Law Quarterly, 33 (3), 2019
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Terry Marsh and Gene Phillips, "The Hayne Report - One Giant Leap Forward for Australia," Law and Financial Markets Review, 2019.
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Gene Phillips, "Are ABS Credit Ratings = Free Speech?" Journal of Structured Finance, Summer 2018, 24 (2), 55-63. © 2018 IPR Journals. All rights reserved.
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Joe Pimbley and Gene Phillips, "Fix the VIX: Reducing Manipulation in the Volatility Index," Global Association of Risk Professionals Quant Methods, April 2018.