Team
Noel Smith - Managing Partner & Chief Investment Officer
Noel Smith is a Managing Partner and the Chief Investment Officer of Convex Asset Management, as well as the Head of Options Trading at Tanius Technology. As a member of the CME, CBOT, and CBOE, Noel has over 25 years of experience trading volatility, Market-Making, and managing risk. Noel has collaborated with faculty and students and Columbia University, crafted white-papers, spoke at many industry conferences, and provided insights with the financial media. Previously, Noel was the CIO and Portfolio Manager of two separate Chicago-based proprietary derivatives trading firms. He was the seed investor who financed the launch of GETCO LLC (KCG/Virtu), a global high-frequency trading firm that grew to account for 20%+ of trading volume in the U.S. As a founding member of Third Millennium Trading in 1996, Noel led the firm to become one of the largest U.S. equity options Market-Makers, backing over 65 traders at the CBOE, CME, and CBOT. Noel is an expert in options, stocks, bonds, ETPs, commodities, futures, and volatility. As a quantitative investor and risk manager, Noel is versed in high-frequency trading (HFT), relevant market structure and the underlying technology.
Noel attended the University of Illinois at Urbana-Champaign, where he received a degree in Biochemistry and performed research at the Beckman Institute in Neuroscience. As a student, Noel was a member of the University of Illinois men’s ice hockey team. Noel is a proud veteran of the U.S. Army where he was a specialist in microwave and satellite communication systems.
Noel is also a member of the Board of Directors for Imerman Angels, an international cancer charity that has helped over 35,000 people in over 135 countries.
Brian Lang - Managing Partner
Brian Lang is a Managing Partner of Convex Asset Management, wherein he oversees all non-portfolio aspects of the firm. Brian brings over 15 years of experience in the wealth and asset management space. Most recently, he was the managing partner of Highline Resources, where he was responsible for company operations. Before Highline Resources, Brian was the head of Investor Relations for RS Core Capital, a Denver-based multi-manager investment fund. Originally Colorado-based, Brian started his career in finance at Merrill Lynch.
Brian has a B.A. in Economics from Southern Methodist University
In addition to being a committed husband and father, Brian is on the Chicago Board of Directors for Project C.U.R.E., the largest provider of donated medical supplies and equipment to developing countries around the world.
Leo Capalleja - Head of Quantitative Research
Leo Capalleja is Head of Quantitative Research at Convex Asset Management. Leo uses his years of experience in Python, R and MySQL to create or improve option pricing, term structure, volatility surface and predictive models. Previously as a quantitative trader at CenterStar Asset Management, Leo supported automated options strategies that relied on machine learning-based volatility forecasting models. Prior to CenterStar, Leo worked at Tenzan Capital implementing option pricing and term structure models into a custom-built tool to support a market making operation for Eurodollar futures options. During his time at CenterStar and Tenzan, Leo built a wide variety of software systems to automate processes and improve quality controls.
Leo holds a M.S. in Finance from the Illinois Institute of Technology and a B.S. in Industrial and Systems Engineering from the Georgia Institute of Technology.
When Leo is not coding, he enjoys rock climbing, cycling, and skiing. He lives in Park City, Utah with his wife, daughter and standard poodle.​​​
Craig Peterson - Managing Director, Strategic Development
Craig Peterson is the Managing Director of Strategic Development at Convex Asset Management and the CEO of Tier 1 Alpha, a market research company. His work in market structure is globally recognized and actively used by several leading hedge funds and investment firms through direct research partnerships and distribution. Craig specializes in developing advanced financial models that track options, capital flows, and volatility within a global macro framework.
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He brings a deep passion for financial technology, backed by over a decade of experience as a full-stack developer. His work spans quantitative and algorithmic trading strategies, portfolio construction, and blockchain technology. His recent focus includes AI and large language model–based financial applications and research tools designed to support high-level analysis and model-driven insight.
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Craig holds a B.S. in Business Psychology from Palo Alto University. Prior to his career in finance, he served in the U.S. Marine Corps and worked as a wildland firefighter with the U.S. Forest Service.
David Pegler - Director Of Investor Relations
With a deep understanding of global finance, David is an industry expert in navigating international markets. He brings nearly two decades of experience as an equities and FX trader, specializing in global macro, sector ETFs, and volatility strategies. He began managing currency portfolios in 2006 and served as Head Currency Trader for a global family office for over 13 years.
Prior to joining Convex, David was Chief Operating Officer at Tier1 Alpha, where he led institutional strategy and operational growth. A combat veteran of Operation Iraqi Freedom, he brings the same discipline and focus to financial markets. He is also a recognized contributor across multiple financial media platforms.
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Convex Asset Management LLC emphasizes that investing in futures, options, and other derivatives involves substantial risk and is not suitable for all investors. There is a possibility that you may sustain a significant loss, including a complete loss of your investment capital. Past performance is not necessarily indicative of future results. Investing involves risks, and any investment strategy carries the risk of loss. Before investing, carefully consider your financial objectives, level of experience, and risk tolerance. You should only invest funds that you can afford to lose and seek independent financial advice if you have any concerns or questions