Recorded on 04/22/2025

Market Update with Jack Ablin & Doug Regan Featuring Mike Silverman & George Houlihan

Name: Market Update with Jack Ablin & Doug Regan Featuring Mike Silverman & George Houlihan
Start: 2025-04-22

Market Update

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Recorded on April 22, 2025

Cresset’s Chief Investment Officer and Founding Partner Jack Ablin, Co-Chairman & Founding Partner Doug Regan, Head of Private Markets Mike Silverman, and featured guest George Houlihan, a pioneering trading leader in the US Treasury and FX markets, joined together for a dynamic discussion on current market trends and investment opportunities.

With decades of experience building high-performance trading platforms and leading algorithmic strategies at firms including GETCO and Caherciveen Partners, George shared his perspective on liquidity, rate volatility, and the evolving structure of fixed income markets. Together, the panel offered valuable insights to help investors navigate the complexities of both public and private market environments.

About George Houlihan

George Houlihan was the Founder and Managing Member of Caherciveen Partners LLC. Caherciveen Partners was a leading algorithmic market maker in the Cash US Treasury Securities market and the US Treasury Futures market from 2009 to 2015. Caherciveen was regularly a top five market maker in the US Treasury markets. Caherciveen, under Mr. Houlihan’s direction, also built one of the first microwave networks dedicated to trading between the Chicago Mercantile Exchange and NY/NJ based cash exchanges. In 2015, Mr. Houlihan led the sale of Caherciveen to a London based family office. Prior to forming Caherciveen Partners, Mr. Houlihan was Managing Director and Head of Fixed Income and Foreign Exchange for GETCO, LLC where he lead the development of that firm’s fixed income and foreign exchange businesses. At GETCO, Mr. Houlihan was recognized for being one of the pioneers in the algorithmic trading of US Treasury Securities, and GETCO was regularly the leading firm by volume in the interdealer US Treasury market. Additionally, GETCO, under Mr. Houlihan’s direction, was the first nonbank allowed to trade on EBS, the leading global FX brokerage. Previously, Mr. Houlihan was Vice President and Co-Head of Proprietary Fixed Income Derivatives Trading for NationsBank (now Bank of America) in New York City; and Vice President-Fixed Income Options Trader and Quantitative Analyst for The First National Bank of Chicago. Mr. Houlihan began his professional career as a Research Analyst in Monetary Policy for the Federal Reserve Bank of Boston. Mr. Houlihan’s background has primarily been in building trading businesses that have focused on trading fixed income and foreign exchange products. He has specialized in using state of the art mathematical and statistical modeling techniques focusing on algorithmic trading, derivative pricing and modeling and portfolio management. Mr. Houlihan holds a BA in Economics from Northwestern University (1986) and has studied at the Graduate School of Business at the University of Chicago. He is a former Member of the Chicago Board of Trade and the Chicago Mercantile Exchange.

About Mike Silverman

Mike is Chief Investment Officer at Cresset. In this role, he works with clients to identify their personal and financial aspirations, delivering personalized, strategic solutions that address their complex and evolving needs. As part of Cresset’s Investment Committee, Mike works with the investment team to source and underwrite new alternative investments for the Cresset platform.

In 2024, Cresset acquired CH Investment Partners, where Mike served as Co-President and Chief Investment Officer, growing the firm to over $6B in AUM from 2012-2024. As Chief Investment Officer of the firm, Mike led the Investment Strategy team, overseeing investment research, asset allocation, and risk management. Previously, he was employed by Crow Holdings-affiliated entities. Mike assisted in the transition of Wyndham International from a privately held enterprise controlled by Crow Holdings to a publicly traded company. As Vice President of Finance, he was responsible for bank and investor relations, corporate finance related to mergers and acquisitions, and various other finance and capital raising activities.

Mike is a member of the Board of the Directors for the Children’s Health System of Texas. He serves as the Chairperson of the Investment Committee and is also a member of the Quality, Credentials, and Appointments Committee. Additionally, Mike is an advisory member of the Investment Committee for the Thomas Jefferson Foundation and serves as a trustee for the endowment funds of the Notre Dame School of Dallas. He earned a Bachelor of Science in economics from Southern Methodist University.

*Third-party prepared biographies are provided for informational purposes only; Cresset does not validate their accuracy or completeness.