Our Team

Management Team

Nick Cherney, CFA, CIO
Nick co-founded VelocityShares in 2009. Previously, he worked at Barclays Capital in New York and had product development and management responsibilities for iPath ETNs. Previous to his role with Barclays Capital, Nick was a portfolio manager for iShares at Barclays Global Investors in San Francisco where he managed over $25 billion of ETF assets across asset classes. Prior to that, he was an index research analyst at Barclays Global Investors. Nick has appeared on CNBC and Bloomberg TV and is frequently quoted in the Financial Times, The Wall Street Journal, Reuters, Barron’s, and other leading financial publications. Nick holds a BA with Highest Honors in Economics from UC Berkeley and is a CFA charterholder.

Richard Hoge, LL.M, J.D., CFO
Rich co-founded VelocityShares in 2009. Previously, Rich was Managing Director and head of the US Structured Capital Products Group at Natixis.  Prior to his career in banking, Rich practiced as a tax lawyer and CPA.  He has held positions in the Office of the Chief Counsel of the IRS and as a partner with KPMG. Rich holds an LL.M in Taxation from New York University, a JD Cum Laude from St. John’s University, and a BBA from Hofstra University. He is admitted to the New York and District of Columbia Bars.

Steven Quinn, Head of Distribution
Steve has over 17 years of experience in the financial markets, primarily in institutional equity sales. Prior to joining VelocityShares, he managed a team at UBS that was responsible for delivering the firm’s capabilities to some of the largest hedge funds and investment complexes in the US. Previously, he was an Executive Director with JP Morgan working with large asset managers in Chicago and New York. Prior to his career at JP Morgan, Steve was in portfolio management at Bankers Trust private bank. Steve holds a BA in Business Administration from Fordham University and a MBA from New York University.

Distribution Team

William Lloyd, Managing Director
Will is a Managing Director at VelocityShares, and has more than 25-years experience in the financial markets. He was previously a Portfolio Strategist at Bridgewater Associates, and prior to joining Bridgewater he was a Managing Director at Barclays Capital responsible for building and managing securitization research, portfolio strategies, and index products. While at Barclays he was a founding board member and actively involved in the development and growth of iBoxx plc, Europe’s leading multi-dealer index provider for fixed income and CDS. Prior to Barclays he was a Director in Portfolio Strategies at Credit Suisse First Boston. He received an MBA from Columbia University and a BA from Union College.

Scott Weiner, DPhil, Managing Director, Head of Quantitative Strategy
Scott is Managing Director and Head of Quantitative Strategy for VelocityShares.  Prior to joining the firm, Scott was Managing Director and U.S. Head of Equity Derivatives and Quantitative Strategy at Deutsche Bank, where he was twice voted to the All-America Research Team in Equity Derivatives Research by Institutional Investor (II).  II also recently ranked Scott one of the top ten equity research analysts on Wall Street for Client Responsiveness and Investment Ideas.  His research has been published in Mathematical Finance as well as the Journal of Business and Economic Statistics.  Scott holds a Finance degree from the Wharton School of the University of Pennsylvania, and Masters and Doctoral degrees in Economics from the University of Oxford.

Jay Kirkorsky, Director
Jay has fifteen years of buy-side experience.  In his prior role, he built and managed equity and fixed income trading desks for various Allianz subsidiaries including – Oppenheimer Capital, PIMCO Advisors and Allianz Global Investors.  Jay holds a BS and an MBA from New York University’s Stern School of Business.

Daniel Aronson, Director
Dan is a 10-year veteran of the financial markets. He joined VelocityShares from Societe Generale where he was a member of the Investment Solutions Group. In this role he developed derivative-based strategies across asset-classes for family offices and registered investment advisors. Prior to Societe Generale, he was part of Merrill Lynch’s Private Client Group on the OTC derivatives desk. He started his financial career working with long/short equity hedge funds as a member of Deutsche Bank’s institutional equity sales desk. Dan holds a BS in Economics from the Wharton School of the University of Pennsylvania and an MBA from Columbia Business School. He is a Level 3 CFA candidate.

Andrew Hicks, Vice President
Andy has eight years of experience in the financial markets. Prior to joining VelocityShares, he was at Deutsche Bank where he moved from the Portfolio Strategies trading desk to institutional sales. He started his financial career trading futures and options on the floor of the Chicago Board of Trade. He holds an MBA “with honors” in Investment Strategy from the Tepper School of Business at Carnegie Mellon and a BS in Finance from The University of Denver.

Benjamin Wang, CFA, Vice President
Ben is a member of VelocityShares’ Quantitative Strategy team.  Prior to joining the firm he spent five years at Goldman Sachs Asset Management as an execution trader in Quantitative Investment Strategies, and began his career at Susquehanna International Group as an assistant trader.  Ben holds a BS and ME in Computer Science from the Massachusetts Institute of Technology, an MS in Financial Engineering from Columbia University, and is a CFA Charterholder.

Compliance

Samantha Addonizio, Director, Compliance
Ms. Addonizio serves as Compliance Officer and is responsible for all regulatory compliance of the firm and its regulated subsidiaries.  Previous to her joining VelocityShares, Ms. Addonizio was the Compliance Officer at Lone Pine Capital, LLC, an investment adviser to private investment vehicles.   Previous to this, she was a Compliance Officer at AIG Financial Products Corp. (2004-2007) and at Ramius Capital Group, LLC (2000-2004).  Ms. Addonizio is FINRA licensed as a General Securities Principal,  Registered Options Principal and General Securities Representative.   Ms. Addonizio received a B.A. from Lehigh University in 1991 and a J.D. from Pace University School of Law in 1994.  She is admitted to the New York and Connecticut Bars.

Velocity Shares LLC  | 19 Old Kings Highway S | Darien, CT 06820 | 877-5 VELOCITY (877-583-5624) | Contact Us | Site Design: 341 Studios

VelocityShares is a trade name used by VLS Securities LLC, a registered U.S. broker-dealer, in connection with the services and products described herein.

“VelocityShares” and the VelocityShares logo are trademarks of VelocityShares Index & Calculation Services, a division of VelocityShares, LLC.

“Standard & Poor’s®”, “S&P®”, “S&P 500®”, “Standard & Poor’s 500™”, “S&P 500 VIX Short-Term Futures™”,  “S&P 500 VIX Mid-Term Futures™”, “S&P GSCI®”, “S&P GSCI® Gold Index”,  “S&P GSCI® Silver Index” , “S&P GSCI® Platinum Index”, “S&P GSCI® Palladium Index”,   “S&P GSCI®  Brent Crude Index”, “S&P GSCI® Crude Oil Index”, “S&P GSCI® Natural Gas Index” and “S&P GSCI®  Copper Index”are trademarks of Standard & Poor’s Financial Services LLC (“S&P”) and have been licensed for use by VelocityShares, LLC. “VIX” is a trademark of the Chicago Board Options Exchange, Incorporated (“CBOE”) and has been licensed for use by S&P. The ETNs are not sponsored, endorsed, sold or promoted by S&P or CBOE and S&P and CBOE make no representation regarding the advisability of investing in the ETNs. The S&P GSCI index and the S&P GSCI sub-indices are not owned, endorsed, or approved by or associated with Goldman Sachs & Co. or its affiliated companies.

Securities Products: Are Not FDIC Insured * Are Not Bank Guaranteed * May Lose Value

This site is for informational purposes only. Nothing herein constitutes a solicitation, offer or recommendation by VelocityShares or its affiliates to buy or sell securities. VelocityShares does not render investment, tax, accounting or legal advice. The securities discussed herein may not be suitable for all investors and should only be used by knowledgeable investors who understand the potential consequences of seeking inverse or leveraged investment results. Investors should actively monitor their investments in the securities. Investors should review the prospectus for each security and make their own investment decisions based on their specific investment objectives and financial position and after consulting independent tax, accounting, legal and financial advisors. VelocityShares will receive a fee from the issuers of the products discussed on this site based on the quantity of products outstanding.

Past performance does not predict future performance. The value of the securities may decrease and investors may lose some or all of their investment.

VLS Securities LLC, a registered broker-dealer, will only transact business in states in which it is registered, unless it is otherwise excluded or exempted from being registered in such state.

Please see “VelocityShares Terms of Use” for additional information regarding use of this website.

Risk Disclosures Regarding the ETNs

Important information about the VelocityShares ETNs is contained within the current prospectuses. For more complete information regarding the VelocityShares ETNs, download a prospectus from this site, call 1-877-5-VELOCITY or 1-203-992-4301, or write to Prospectus Inquiry, VelocityShares LLC, 19 Old Kings Highway S, Darien, CT, 06820 to request a prospectus. You should read the prospectus carefully before making an investment decision.

The ETNs are only suitable for knowledgeable investors seeking daily exposure (including inverse or leveraged exposure) to the underlying index. The ETNs are intended for short-term trading, therefore investors with a horizon longer than one day trading should carefully consider whether the ETNs are appropriate for their investment portfolio.

Because the inverse leveraged ETNs and leveraged long ETNs are linked to the daily performance of the applicable underlying Index and include either inverse and/or leveraged exposure, changes in the market price of the underlying futures will have a greater likelihood of causing such ETNs to be worth zero than if such ETNs were not linked to the inverse or leveraged return of the applicable underlying Index.

The ETNs do not guarantee any return of principal at maturity and do not pay any interest during their term.

Although we intend to list the ETNs on NYSE Arca, a trading market for your ETNs may not develop. We are not required to maintain any listing of the ETNs on NYSE Arca or any other exchange.

The trading price of the ETNs may vary considerably before any valuation date (as defined in each prospectus), due, among other factors, to fluctuations in the price or the volatility of the underlying investment product, and other events that are difficult to predict. At higher levels of volatility, and since the ETNs are not principal protected, there is a significant chance of a complete loss of ETN value even if the performance of the index is flat.

The closing indicative value on each valuation date is determined in part by reference to the daily percentage change in the level of the underlying index. As a result, to the extent the closing indicative value of the ETNs is greater than or less than the initial indicative value, subsequent changes in the level of the index may have a bigger or smaller impact on the closing indicative value of the ETNs than if the closing indicative value remained constant at the initial indicative value. For example, assuming an initial indicative value of $100, if the closing indicative value of the ETNs increases above $100, a subsequent 1% daily change in the level of the index will result in more than a $1 decrease in the closing indicative value of the ETNs. Likewise, if the closing indicative value of the ETNs is less than $100, a 1% increase in the level of the index will result in less than a $1 increase in the closing indicative value of the ETNs.

If the level of the underlying index decreases or does not increase sufficiently (or if it increases or does not decrease sufficiently in the case of the inverse ETNs), to offset the effect of the Daily Investor Fee over the term of the ETNs, the investor will receive less than the principal amount of his investment upon early redemption, acceleration or maturity of the Notes.

Prior to maturity, you may, subject to certain restrictions described in the prospectus, offer the applicable minimum number of your ETNs to the issuer for redemption on an Early Redemption Date (as defined in the prospectus). You must offer for redemption at least the applicable minimum number of ETNs as set forth in the pricing supplement, or an integral multiple in excess thereof, at one time in order to exercise your right to cause the issuer to redeem your ETNs on any Early Redemption Date. In addition, the issuer may charge investors a redemption charge of a percentage of the stated principal amount of any ETN that is redeemed at the investor’s option, at a rate as indicated in the applicable pricing supplement.

Any payment on the Securities is subject to the ability of Credit Suisse AG to satisfy its obligations as they become due.

The risks listed above are not exhaustive. Investors should review the prospectus for each ETN, including all risk factors set forth therein, and consult their independent tax, accounting, legal and financial advisors before investing in any ETN.