Brian is the Founding Partner, Chief Executive Officer and Chief Investment Officer. He serves on the firm's Compliance, Risk Management, Terms, and Counterparty Credit Committees. Prior to Pine River's inception, Brian began his career at EBF & Associates in 1988 as a trader, becoming head of the convertible arbitrage group in 1994, and was named a Partner in 1997. His responsibilities included portfolio management, marketing, product development, and trading information systems development. He received an MBA with a concentration in Finance and a specialization in Statistics from the University of Chicago in 1988 and a BS in Accounting with a minor in Mathematics summa cum laude from Millikin University in 1986. Brian proudly serves on the Board of Directors for Northside Achievement Zone (NAZ), an organization established to permanently close the achievement gap and end generational poverty in North Minneapolis.




Bill Roth is a Partner of Pine River Capital Management. Bill joined Pine River in June 2009 to co-manage the mortgage-focused Pine River Fixed Income Fund through the end of 2010. He helped launch the mortgage REIT Two Harbors Investment Corp., serving initially as co-CIO, and then as CIO from 2013 through 2019, when he retired. Bill moved back to the hedge fund side in 2020 following the extreme dislocations in the mortgage market and will focus on relative value agency mortgage trading. Prior to joining Pine River in 2009, Bill was at Citigroup and its predecessor, Salomon Brothers, for 28 years where he was named a Director in 1987 and a Managing Director in 1997. From 2004 to 2009 Bill managed a proprietary trading book at Citigroup with a focus on mortgage and asset-backed securities. From 1994 to 2004, Bill was part of the Salomon/Citi New York mortgage sales department. From 1981 to 1994, Bill managed the Chicago financial institutions sales group for Salomon. He received an MBA in Finance from the University of Chicago, Graduate School of Business in 1981 and a BS in Finance and Economics from Miami University in Oxford, Ohio in 1979.




Nick is a Partner, Chief Financial Officer and Chief Operating Officer, where he oversees the firm's fund accounting, corporate accounting, tax, operations, investor relations, legal and human resource functions. Nick serves on Pine River's Valuation, Compliance, Counterparty Credit and Terms Committees. Prior to joining Pine River, Nick worked at 3 Twelve Capital as Chief Financial Officer/Chief Compliance Officer from 2011 to 2013. In this role, he designed the internal process flows for all trading, middle office, back office, and compliance systems, and managed the annual financial audit. From 2008 to 2011, Nick worked at Attalus Capital as Chief Financial Officer. From 2005 to 2008, he was Chief Financial Officer/Chief Compliance Officer at Gamma Capital Advisors. Nick was at Ernst & Young from 1999 to 2005, most recently as Audit Senior Manager. From 1996 to 1999, he was an Audit Supervisor at Kuntz, Lesher, Siegrist & Martini LLP. Nick received a BS in Accounting from Elizabethtown College in 1995.




Nikhil is a Partner of Pine River Capital Management, and was previously a Portfolio Manager focusing on Asian and European Debt and Equities strategies. Prior to joining Pine River in 2002, Nikhil traded Japanese convertible bonds, credit derivatives and options for EBF & Associates beginning in 1998. Nikhil received a BA in Economics from the University of Chicago in 1998.



Paul is a Partner and Chief Risk Officer, responsible for vetting every trade, investment strategy and counterparty relationship at Pine River to ensure they fit within our stringent guidelines. He serves as Chairman of Pine River’s Risk Committee and serves on the Counterparty Credit Committee. Prior to joining Pine River, Paul was the Director of Quantitative Research at Stark Investments from 2006 to 2010, where he was responsible for all modeling and analytics and was a member of the firm’s Risk Committee. From 1992 to 2005, Paul worked at the financial markets division of Cargill and its successor Black River Asset Management, where he was most recently a Managing Director and Portfolio Manager focused on capital structure arbitrage. From 1989 to 1992, Paul served as a Vice President of Fixed Income Research and as an MBS Trader for Lehman Brothers. Paul was an Assistant Professor of Finance at the University of Michigan from 1987 to 1989 and at the University of Minnesota from 1983 to 1987. He received a PhD in Economics from Harvard University in 1983 and a BA in Economics from the University of California, Los Angeles in 1979, where he was a Regents Scholar. Paul has published several articles in academic journals.




Phil is a Partner, Head of Treasury and oversees the firm's technology function. He is the Chairman of Pine River's Brokerage Committee. Prior to joining Pine River, Phil was at Goldman Sachs from 1983 to 2014, most recently as Managing Director and head of Central Funding within the Investment Management Division. In this role, he managed the team responsible for financing, cash management and liquidity risk management. Phil began his tenure at Goldman Sachs in 1983 as an Associate in Repurchase Finance and later held a variety of positions including head of U.S. dollar funding for GS Group, general collateral trader, GSE debt trader, U.S. Treasury arbitrage trader, and Co-Treasurer of the Investment Management Division. From 1982 to 1983, He was an Associate in the financial practice of Arthur Andersen Consulting. Phil received an MBA in Finance and Accounting from the University of Chicago, Booth School of Business in 1982 and attended Vanderbilt University, where he studied Economics and Philosophy.




Thomas E. Siering is a partner of Pine River Capital Management. Thomas previously served as CEO of Two Harbors Investment Corp. from its inception in 2009 to June 2020 and served as a director from its inception in 2009 to May 2021. Thomas also served as a director of Granite Point Mortgage Trust Inc. (NYSE: GPMT) from June 2017 to June 2020 and Silver Bay Realty Trust Corp. (NYSE: SBY) from December 2012 to May 2017. Prior to joining Pine River, Thomas was head of the Value Investment Group at EBF & Associates, a private investment firm, where he worked from 1989 to 2006. During that period, he was also the manager for Merced Partners, a private investment firm, and Tamarack International, a closed-end, non-diversified investment management company. Thomas was named a Partner at EBF in 1997. From 1987 to 1989, Thomas held various positions in the Financial Markets Department of Cargill, and from 1981 until 1987, he held both trading and managerial roles in the Domestic Soybean Processing Division at Cargill. He received a BBA from the University of Iowa with a major in Finance in 1981.