South Street Capital Management
We have an experienced management team with extensive experience in Capital Markets, Fixed Income Sales and Trading, Asset/Liability & Portfolio Management, and Mortgage Banking.
CEO and President
Ben was a co-founder and President of ACM Financial Trust in 1999. He co-founded Atlantic Capital Advisors in 2007, which became the external manager of ACM Financial Trust and Hatteras Financial Corp. At ACM and Hatteras he held titles of President & COO and Director where he was responsible for all operational facets of the REITs and their subsidiaries. Prior to ACM and Hatteras, he was Vice President of institutional fixed income sales and trading for BB&T Capital Markets and head of their Winston Salem, N.C. office; Vice President of fixed income trading and sales for First National Bank of Maryland; and Vice President of NationsBanc Capital Markets trading and sales in Washington DC. Ben holds a B.A. degree in economics from UNC Chapel Hill.
Brian brings over 20 years of Mortgage Backed Securities trading experience to South Street Capital Management. He began his career structuring Agency CMO deals at Goldman, Sachs and Co. Brian went on to spend 14 years within the Mortgage Trading group at Goldman, rising to the level of Vice-President. While at Goldman he was responsible for the market-making and position management for a variety of MBS products. He worked extensively in Specified Pools, TBA’s, and Adjustable Rate Mortgages. Brian also spent time trading Mortgage Derivatives and Non-Agency RMBS. Brian left Goldman Sachs to start the Agency MBS trading desk at Société Générale, where he became a Director. At Société Générale he was responsible for trading Specified Pools and Agency ARMs. Brian joined South Street Securities as a Managing Director in 2016 and was tasked with developing the firms mortgage business. Before forming South Street Capital Management (SSCM), he created a TBA Pipeline Hedging Business for Mortgage Originators. South Street Securities provides trading lines and liquidity to small and medium sized mortgage originators that do not have access to the capital markets through Primary Dealers. Brian is now responsible for overseeing both SSCM and the TBA hedging business. Brian graduated from The Wharton School at the University of Pennsylvania with a Bachelor of Science in Economics.
Ben Watson, CFA®
Ben joined AC Advisors in June 2015. Serving as a Financial Analyst, he was responsible for running risk analytics and cash flow modeling for both ACM Financial and Hatteras Financial. Ben also ran the Agency ARM Acquisition Program, which involved distributing daily loan level pricing and managing the day-to-day operations within the pipeline including hedging and price confirmations. In 2020, Ben expanded his role becoming directly involved in the portfolio management process with responsibilities including asset selection, hedging, and trading. He was awarded the CFA® charter in August 2019. Ben graduated from the University of North Carolina Chapel Hill with a Bachelor of Arts in Economics.
Chief Compliance Officer
Mr. Lard has been with ACM since 2012 where he has focused on many efforts including marketing, capital raising, compliance and other strategic efforts. Prior to joining ACM, Mr. Lard was CEO of Bradford Mortgage Company (formerly a wholly owned subsidiary of ACM). Mr. Lard also spent time at Triad Guaranty Insurance Corporation where he was Executive Vice President, Sales and Operations. Mr. Lard served as Vice President of Signet Bank in several capacities, first as Vice President Fixed Income Sales and Trading for their Baltimore office and later as Vice President Secondary Marketing for Signet Mortgage Corporation. Mr. Lard held Financial Sales and Management positions at FNB Maryland and Suburban Bank. Mr. Lard holds a Bachelor of Science degree in Business Administration from Towson University.
Director of Operations/Repo Trader
Dewey is responsible for all back-office operations and repo trading. He previously served as Director of Operations for AC Advisors, who managed a private REIT as well as Hatteras Financial Corp from 2012-2016. Prior to joining AC Advisors, he worked at Wells Fargo Bank in their Investment Manager Relations group in Minneapolis and brings 13 years of REIT operational experience to SSCM. Dewey holds a B.A. degree in Entrepreneurship from the University of St. Thomas (MN).
Gina J. Howard
Gina is the controller of ACM Financial Trust and has over 25 years of accounting experience having work in public accounting, corporate and non-profit sectors. Gina joined ACM Financial Trust and Hatteras Financial Corporation in 2008. Currently, Gina oversees the financial reporting and tax compliance for the REIT. Prior to joining ACM, Gina worked in financial planning for Wake Forest University and Sara Lee Corporation. Gina earned a Masters of Accounting and a B.S. degree in Business Administration from the Kenan Flagler Business School at the University of North Carolina at Chapel Hill.