In 1987, Zem Sternberg, a 21-year old graduate student at The University of Chicago, started trading index options using a rudimentary Apple computer and statistical techniques derived from his coursework. From this modest beginning, Zem caught the attention of options trading pioneer Blair Hull. It was while working with the Hull Trading team that Zem experienced first-hand the difficult events of the ‘87 crash and the importance of staying disciplined.
Zem later joined Salomon Brothers in the 1990s and built their equity derivatives business into a global power house while becoming one of the youngest Managing Directors in firm history. His relentless focus on recruiting and retaining the best talent coupled with applying the latest technology has kept him on the forefront of the industry. As the index options industry evolved, Zem adapted through his experience in the pits in Chicago, to Salomon, to his privately held international market-making partnership, to most recently Lake Hill where he continues to trade index options with automated technology.
Zem founded Lake Hill Capital Management, LLC in 2005 and has since served as the firm’s Chief Executive Officer. In 2015, Zem joined forces with Leucadia Asset Management LLC, a subsidiary of Jefferies Financial Group Inc. (JEF), to create a new Lake Hill Division of LAM, which provides unique access to a select few to invest alongside Zem and his team. Lake Hill manages funds for some of the worlds most distinguished foundations, endowments, institutions and Forbes list individuals.
Today Lake Hill is recognized as one of the most respected and successful index options trading firms with a long and distinguished track record of success.
Mr. Kovarik is Head of Quantitative Research and Trading. Mr. Kovarik co-founded Lake Hill in 2005. He is responsible for all firm-wide research and strategy execution. Prior to Lake Hill, he was a Partner at George Weiss Associates, LLC responsible for statistical arbitrage and global options trading. He was also a Partner at Greenway Trading, LLC, and a Senior Equity Derivatives Trader at Salomon Brothers. Mr. Kovarik has over 25 years of industry experience. Mr. Kovarik received a Bachelor of Arts in Mathematics and a Bachelor of Science in Finance from the University of Pennsylvania and the Wharton School.
Dr. Nicklas is Portfolio Manager. Prior to joining Lake Hill, Dr. Nicklas completed his Ph.D. in Economics at New York University with a focus on macroeconomics and econometrics. He has worked closely and collaborated on research with economists at the Federal Reserve Bank of New York. Dr. Nicklas has over a decade of experience in quantitative analysis and econometrics. He also holds a Bachelor of Science in Mathematics from Duke University.
Mr. Schofield is Chief Technology Officer and is responsible for technology infrastructure and development. Before joining Lake Hill, Mr. Schofield was a Senior Software Engineer at Thomson Reuters focusing on FX option pricing & analytics. Before that he worked as a technologist on the Fixed Income Rates Algorithmic Trading Desk at Barclays, as well as a Sr. Software Engineer Position at Bloomberg, Shonfeld Group, and Lockheed Martin. He has over 15 years of software engineering experience. Mr. Schofield holds a Bachelor of Science in Computer Engineering from Villanova University.
Related team members focus on technology infrastructure, programming, operations, legal, compliance, business development and investor relations.