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.

Ben Hough
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 Snyder
CIO

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.

Brian Bartock
Portfolio Manager

Mr. Bartock was a legacy AC Advisors Portfolio Manager who originally started with Hatteras Financial’s whole loan conduit, Onslow Bay Financial. Proving himself a valuable resource, he took on additional portfolio management responsibilities with AC Advisors. Before his time with Hatteras, he spent time at Wells Fargo Securities where he worked on their Agency CMO, Non-Agency RMBS trading desks where he started and headed their Ginnie Mae Reverse Mortgage trading. Prior to his time at Wells Fargo, he spent 6 years in Banc of America Securities’ Structured Finance Group and 2 years at PriceWaterhouseCoopers in Washington, D.C. Mr. Bartock holds dual degrees in Finance and Business Information Technology from Virginia Tech.

Ben Watson, CFA®
Portfolio Manager

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.

Ken Lard
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.

Dewey Johnson
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
Controller

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.

Core Values

Commitment to Clients

Commitment to clients is THE focus. Manage risk for others as you manage for yourself

Integrity

Integrity and honesty are the foundation of our business. We expect the highest ethical standards in our work and personal lives.

Partnerships

Strong partnerships are the driving force behind success – We seek out and emphasize long-term relationships with solid and dedicated partners and counter parties

Social Responsibility

Feel tremendous responsibility to the communities in which we live and work. Click here to see the charities and foundations that Management and employees are active with.
Michael R. Hough
CEO, Mr. Hough is a co-founder

Co-founder of AC Advisors and Chairman of the Board of privately-held REIT managed by AC Advisors since its inception. He was also co-founder, CEO, and Chairman of Hatteras Financial Corp. (NYSE:HTS), a $20+ billion in assets mortgage REIT, until the sale of the company in 2016. Michael has been responsible for managing all aspects of the operations and growth of AC Advisors and the companies it manages. His 33 years in the fixed-income markets include being a senior partner of First Winston Securities, Inc. where he was a principal and in the fixed income department of Wachovia Bank N.A. where he traded and sold taxable and non-taxable securities. He holds a degree in economics from Wake Forest University and is an active member of various community non-profit and charitable boards.

Kenneth N. Lard
Managing Director

AC Advisors, since April 1, 2012, Chief Marketing Officer, a privately-held REIT managed by AC Advisors since October 1, 2007. During his time at AC Advisors he was CEO, Bradford Mortgage Company, formerly a wholly owned subsidiary of the private REIT. Prior to joining AC Advisors, Mr. Lard was Executive Vice President, Sales and Operations of Triad Guaranty Insurance Corporation from 1995 to 2006. From 1987 to 1995, 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. Prior to 1987 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.