Robert P. MoranChief Executive Officer
Robert Moran has been in the financial services industry for over 30 years. Prior to joining BUCKLER, Mr. Moran was the head of Sales and Trading for CRT Capital’s Financing and Short Duration Trading Group from 2009-2015.
Previously, Mr. Moran served in similar positions at RBS America and RBS Greenwich Capital. During Mr. Moran’s tenure at RBS from 1999-2009 he managed various business including trading for Short Term Products and REPO Sales and Trading. Mr. Moran served on RBS’ Risk Committee, CRT’s Management Committee and Liquidity Committee for RBS and CRT. He was a long-standing member of the Bond Market Association and an Executive Member of the Funding Division. Mr. Moran is a graduate of The College of Holy Cross holding a BA.
Mark R. GruberChief Operating Officer
Mark Gruber has been the Chief Operating Officer of ARMOUR Capital Management and ARMOUR Residential REIT Inc. (collectively “ARMOUR”) since September 3, 2013 and the Head of Portfolio Management since June 2010.
From April 2008 until joining ACM in June 2010, Mr. Gruber managed a $1.1 billion mortgage portfolio for Penn Mutual Life Insurance. From June 2005 to March 2008, Mr. Gruber was Vice President of Research and Trading at Bimini Capital Management, Inc., a publicly-traded REIT that managed $4 billion in agency mortgage assets. Mr. Gruber previously worked for Lockheed Martin at the Knolls Atomic Power Laboratory where he was an engineer for the Naval Nuclear Propulsion Program. Mr. Gruber holds an M.B.A. with University Honors from the Tepper School of Business at Carnegie Mellon, an M.S. degree in Mechanical and Aerospace Engineering from the University of Virginia, and a B.S. degree in Mechanical Engineering with High Honors from Lehigh University.
James R. MountainChief Financial Officer
James R. Mountain has been the Chief Financial Officer and Treasurer of ARMOUR Capital Management and ARMOUR Residential REIT Inc. (collectively “ARMOUR”) since September 2012 and the Secretary of ARMOUR since March 2014.

Mr. Mountain joined ARMOUR after having spent over 30 years at Deloitte. Mr. Mountain has significant experience in securitization transactions, having been involved in that market since its inception in the mid-1980s, and having helped to build Deloitte’s securitization practice. Mr. Mountain is the Chair of the Financial Management Committee of the Mortgage Bankers Association and an ex officio member of the Association’s Residential Board of Governors. Mr. Mountain earned his Bachelor of Arts degrees in accounting and in economics from the University of Montana, as well as a M.B.A. degree from the University of California, Berkeley. He is a Certified Public Accountant and a member of the American Accounting Association and the American Institute of Certified Public Accountants. Mr. Mountain is a Trustee of the University of Montana Foundation and previously chaired the Foundation’s investment committee and its audit and finance committee.

Scott J. UlmPrincipal
Scott Ulm has been the Co-Chief Executive Officer, Co-Vice Chairman, Chief Investment Officer and Head of Risk Management of ARMOUR Capital Management and ARMOUR Residential REIT Inc. (collectively “ARMOUR”) since November 2009.
Mr. Ulm has 31 years of structured finance and debt capital markets experience, including mortgage-backed securities. Mr. Ulm has advised numerous U.S., European, and Asian financial institutions and corporations on balance sheet and capital raising matters. He held a variety of senior positions at Credit Suisse both in New York and London, including Global Head of Asset-Backed Securities, Head of United States and European Debt Capital Markets and the Global Co-Head of Collateralized Debt Obligations. Mr. Ulm holds a B.A. summa cum laude from Amherst College, an M.B.A. from Yale School of Management and a J.D. from Yale Law School.
Michael A. GoldbergHead of Operations
Michael Goldberg is BUCKLER Securities Head of Operations. Mr. Goldberg has 15 years of experience in the financial services industry.
Prior to joining BUCKLER, Michael worked in Collateral Management and Middle Office Services at BNY Mellon and The Midway Group, where he held several roles over a 10 year span including Operations, P&L, Repo Trading, Hedge Trading, and Risk Management. Earlier in his career, Michael was an Assistant Vice President in Prime Brokerage Risk Management at Credit Suisse. Mr. Goldberg has an M.B.A. in Finance from Pace University and a B.A. in Finance from Binghamton University.
Anthony NugentHead of Repo Sales and Trading
Tony Nugent is BUCKLER Securities Head of Repo Sales and Trading. He has over 15 years of experience in the industry.
Prior to joining BUCKLER, Mr. Nugent worked for Maple Securities USA as Head of U.S. Repo and Fixed Income Securities Lending where he built a Fixed Income Repo, Collateral Management, and Securities Finance trading desk and served on LCR and HQLA management teams. He also worked at BGC/Eurobrokers where he covered FICC and Corporate Repo for banks, funds and broker/dealers. He began his career at Goldman Sachs where he worked in Money Market Sales, Repo Trading and Prime Brokerage Fixed Income Securities Lending. Mr. Nugent has a B.A. from the University of Virginia.
Rian MurphyDirector, Repo Sales and Business Development
Rian Murphy joined BUCKLER in July of 2018 to spearhead the effort to expand BUCKLER’s business model and offering repo financing capabilities to include third party business.

Rian has over 20 years of experience with deep operational knowledge and solid business relationships that include MBS REITS, hedge funds and insurance companies. Prior to BUCKLER, Rian was employed at JVB Financial focusing on MBS origination and repo sales. Mr. Murphy was also a Director at Credit Suisse for 15 years as a member of the Money Market Sales team. He began his career at Citibank N.A in the capital markets credit limit and exposure group. Mr. Murphy has a B.A from Iona College.

James GoldenManaging Director - Rates Trading
Jim Golden has more than 20 years of experience trading all elements of the US Treasury market—Short End, Long End, TIPS, and STRIPS. His focus is on Fed watching and yield curve, relative-value, and duration trading.

He has managed two Primary Dealers (Lehman and Jefferies), held senior trading positions while at Merrill Lynch and Royal Bank of Scotland, and has a long track record of trading with the largest money managers in the world. He graduated from Dartmouth College with a BA in Economics and from Harvard Business School with an MBA.

Jack WhalenManaging Director - Rate Sales
With a career spanning over 30 years, Jack has sold most financial products including US treasuries, mortgages, HG corp., CMBS and derivatives.

Prior to joining BUCKLER, Jack was a Sr. Managing Director at Seaport Global. Jack also worked at CRT in Stamford Ct. where he managed rate sales and RBS-GREENWICH where he sold for 16 years. Jack’s clients include pension funds, money managers, bank portfolio’s and macro hedge funds.

Robert A. JohansenManaging Director – Rate Sales
With more than 30 years of extensive sales experience in the US Treasury Markets, Bob Johansen has established a solid, long-standing reputation selling Treasuries, SWAPS, and Futures in the global market.

Prior to joining BUCKLER, Bob was Managing Director at Mizuho Bank, Jefferies, Barclays and Lehman Brothers, specializing in Macro Hedge Funds, Money Managers and Commodity Trading Advisors globally. He holds a B.A in Business from St John’s University.

Jorge PortugalManaging Director - Rates Sales
Jorge Portugal has been in the financial services industry for over 20 years. His financial markets career has allowed him to build strong relationships with institutional investors through product expertise, client focus and dedication.

Prior to joining BUCKLER, Jorge was a Managing Director at Cantor Fitzgerald Global Markets, covering Fixed Income Sales from 2012-2019. Previously, Mr. Portugal worked at RBS America and RBS Greenwich Capital for 12 years in different roles, first as proprietary portfolio manager in the Global Macro and Arbitrage desk. Later, he was in charge of building partnerships with the largest pension funds, asset owners and sovereign wealth funds, expanding the fixed income distribution platform. Jorge is a CFA Charterholder, and has a M.A. in Economics from the Wharton School, University of Pennsylvania. He has also been actively involved with the Stamford CFA Society, having served as President and Board member for several years.

Robert E. MasiChief Compliance Officer
Robert Masi is a compliance professional with 15 years experience and has been the Chief Compliance Officer of ARMOUR Capital Management since January 2017.
Since 2012 Mr. Masi has been the Managing Partner of Accordo and its predecessor company, experts in financial services compliance consultancy, where he and a staff of twelve consultants develop, implement, and test compliance programs. At Accordo, Mr. Masi has also been interim Chief Compliance Officer for several firms. Prior to that, he was a Senior Consultant with an international consulting company, the IMS Group, now a part of Cordium. Prior to that he was an Associate Principal Examiner with FINRA in the District 10 NY office where conducted routine examinations and special investigations related to fraud and anti-money laundering. Mr. Masi holds a Bachelor’s Degree in Finance and Accounting with a minor in Economics from Fordham University’s Gabelli School of Business, and is a Wharton Certified Regulatory Compliance Professional.
Stephen McMorranCredit Risk Officer
Stephen is the Global Head of Risk and Data Services at WSN.

Before joining WSN, Stephen was a Managing Director and Legal Entity Chief Risk Officer for the Americas at Credit Suisse. Prior to being appointed Chief Risk Officer, Stephen was Head of Credit for Hedge Funds (Americas) at Credit Suisse for 12 years. Stephen has more than 25 years of risk management experience. He is a graduate of ESCP Europe and holds a B.A. Honors in Philosophy and Modern Languages from Oxford University.