Karl Burnham, CFA, MBA
Karl started his bond trading career at CIBC in 1993. Within 2 years, he was made CIBC’s Head Corporate Bond Trader. For the next 18 years, Karl actively traded Canadian corporate debt on a liability basis – in other words, with CIBC’s capital at risk in concert with the Bank’s high risk standards. During that time Karl earned additional responsibility for overseeing other bond trading books and he helped to initiate and establish other credit trading desks. Towards the end of his tenure at CIBC, he oversaw all CIBC credit trading books including $US corporate bonds, eurobonds, emerging market bonds, mortgage-backed securities, and asset-backed securities, and oversaw government credit trading (provincials, crowns, municipals, strips, real return bonds, super sovereign agency bonds). These credit books were traded in Toronto, New York, London, and Montreal and had an aggregate value in excess of $10 billion. He also played a significant role in successfully managing CIBC’s market risk through more than one market crisis and was a member of the Deals Committee that reviewed novel securities and transactions from a risk perspective. Since 2015, Karl has employed the risk management and trading skills he honed at CIBC with YTM.
He is the co-portfolio manager with Daniel Child on YTM Capital Credit Opportunities Fund and YTM Capital Fixed Income Alternative Fund.
Karl received a Masters of Business Administration from Schulich School of Business, York University, and has a Bachelor of Business Administration from the University of New Brunswick.