Terry Pigott

Chief Executive Officer

Series 3, 7, 24, 63

Terry Pigott founded Curvature Securities in 2014 and serves as its Chief Executive Officer. Since 2006, Terry has been owner and Principal of Glacier Peak Capital Management, LLC, a registered investment adviser, concentrating on the short end of the yield curve.

From 2000 to 2005, Terry acted as principal for LCCM, a registered investment advisor which provided securities lending services to clients including the States of New Jersey, Ohio, and Nevada. The activities involved repurchase agreements in both U.S. Treasuries and mortgage-backed securities.

From 1988 to 1999, Terry was with Daiwa Securities America. He was Head of the US Treasuries trading desk including a $30 billion matched book. He was also Co-head of all fixed income and a member of the Management committee. He represented the firm at the Bond Market Association and the Federal Reserve Bank of New York.

From 1985 to 1988, Terry worked at First Interstate Bank of California, as Treasury Bill Trader for the bank’s primary dealership.

Terry began his career in 1979 at International Paper Company as an Accountant, then later worked in the Treasury Department at Moller Steamship Company (Maersk Line) from 1981 to 1983.

Terry received his MBA in finance from UCLA.

Michael Bodner


Series 7, 24, 63

Michael joined Curvature as President focusing on growing the firm through operational efficiencies and sourcing market opportunities. Prior to joining Curvature, Michael was an Acting Director at PricewaterhouseCoopers LLP, advising some of the largest asset managers in the world.

Michael earned an MBA from Bar-Ilan University and a Masters of Science in Accounting from Fairleigh Dickinson University. 

Todd M. Pigott

Chief Compliance Officer

Series 7, 24, 63

Todd joined Curvature in 2018 as the Chief Compliance Officer of Curvature Securities.

In 2015, Todd joined and helped launch280first, a startup research firm whose service dynamically analyzes unstructured data from financial filings for investment professionals.

From 2014 to 2015, Todd was Director of Institutional Equity Sales at Sterne Agee & Leach responsible for the firm’s client relationships in Canada. From 2010 through 2013, he was a Vice President of Institutional Equity Sales at Macquarie Capital where he established the firm’s US equity research business in Canada. From 2009 to 2010, he was a Senior Vice President at Auriga USA. From 2000 to 2009, he was a Vice President of Equity Sales at Sanford C Bernstein, which later became AllianceBernstein, with responsibility for client relationships in New York, the Midwest and The Netherlands.

Todd has an MBA in Finance from the Anderson School at UCLA and a BS in Finance from Syracuse University.


Miriam Cahn Yoshida

Chief Operating Officer

Series 7, 24, 63

Miriam joined Curvature in 2014 and serves as its Chief Operating Officer. As one of the founding employees, Miriam was instrumental in building Curvature’s matched book. In addition, she is one of the founders of Glacier Peak Capital Management,  a registered investment adviser, concentrating on the short end of the yield curve.

From 2000 to 2005, Miriam acted as senior portfolio manager for LCCM, a registered investment advisor which provided securities lending services to clients including the States of New Jersey, Ohio, and Nevada.

Miriam began her career in 1990 with Daiwa Securities where she was a short-term treasury trader.

Miriam earned an MA at the University of Hiroshima in 1989 and a BA at Lewis and Clark College in 1985.

Scott Skyrm

Executive Vice President

Series 7, 24, 63

Scott joined Curvature as Executive Vice President, focusing on expanding Curvature’s presence in the Repo market through his vast network. Before joining Curvature, Scott was a Managing Director at Wedbush Securities, Senior Vice President at Newedge USA, Inc., ING Baring Furman Selz, and Bank of Tokyo-Mitsubishi Securities. He is author of the books: “The Money Noose – Jon Corzine and the Collapse of MF Global,” and “Rogue Traders”, and is often quoted in The Wall Street Journal, The Financial Times, Bloomberg News, Reuters, and Market New Service. Scott has appeared on CNBC, Bloomberg Radio, and Fox News Online.

Tim Murphy

Senior Vice President

Series 7, 63

Tim joined Curvature as a Senior Vice President concentrating on trading in the Repo market, especially in specials and the general collateral markets. Previously, Tim was a Managing Director at CRT Capital in Stamford CT, where he was the cash bill trader along with trading Repo,  for almost 4 years. Previous to that he was a Director at BNP Paribas in NYC for over 20 years.

Tim received an MBA in Finance from the University of Connecticut and a BS in finance from Southern CT State University.

Greg Sorrentino

Managing Director – Head of Equity Finance

Series 7, 24, 63

Greg Sorrentino joined Curvature as Managing Director and Head of Equity Finance.  Prior to joining Curvature, Greg was a Managing Director, Head of US Equity Finance for Nomura Securities as well as having various trading roles at ING Financial Markets, Charles Schwab & Company, and ABN AMRO Inc.  Greg began his career in the Equities Finance space in 2000 with a wide scope of experiences across Securities Lending, Prime Brokerage, Capital Markets, and Wealth Management.

Ed Connelly

Director – Equity Finance Trading

Series 7, 24, 63

Ed Connelly joined Curvature as Director of Equity Finance Trading. Prior to Joining Curvature, Ed was a Regional Director at WBI Investments. Ed previously held senior roles as Head of Member Services at Automated Equity Finance Markets, Head of Securities Lending North America at Deutsche Bank and VP Securities Lending at Goldman Sachs. Prior to that he was on the NASDAQ Trading desk at Goldman Sachs and also managed the Mutual Fund Dept. at Drexel Burnham. Ed holds a BS in Business Management from St. John’s University.

Karen deStefani

Director – Equity Finance

Series 7, 63

Karen deStefani joined Curvature as a Director of Equity Finance. Prior to joining Curvature Karen was a Vice President at Convergex Equity Finance . Karen started her career more than 30 years ago at Paine Webber/UBS working in several aspects of the securities lending business. Karen was part of the team to start and build the Paine Webber prime broker business as well as running the ETF and specials books at UBS. Along with several other responsibilities she handled the overseas internal and external clients in London and Zurich.


Michael Lisi

Senior Vice President – Operations

Series 99

Mike is the operations manager for Curvature. With over 27 years of experience, Mike has an extensive background in settlement and clearance of U.S. Treasury securities, futures, and options, as well as asset-backed, mortgage-backed, auction rate and corporate securities. Prior to joining Curvature, Mike was responsible for operations at Daiwa America Strategic Advisors, and worked in operations/trade support at Daiwa Securities America from 1994. After attending Long Island University, he began his career in Smith Barney’s fixed income operations division in 1987.

Michael Taylor

Vice President

Series 99

Michael is a Vice President of operations for Curvature.  Mike has experience in US Treasury securities settlements and clearance.  Prior to joining Curvature, Mike was Vice President at Guggenheim Securities and worked in middle office settlements. Michael graduated from Indiana University with a BS in Business Management.

Avi Friedberg


Avi is an Associate in the fixed income division of Curvature Securities. Avi had internships in Mergers & Acquisitions and Marketing. Avi graduated from Yeshiva University’s Sy Syms School of Business with a bachelors in Finance and Management.

Mark Garofalo


Series SIE

Mark is an Operations Associate for Curvature Securities LLC. Prior to joining Curvature Mark worked for Broadridge Financial Solutions under the Operational Client Servicing department. Mark was responsible for all Securities Lending Back & Middle Office functions for a variety of their clients including Nomura Securities INTL and Société Générale. Mark graduated from Ramapo College of New Jersey in 2016 with a degree in Business Administration.