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Profile

Joshua Roberts

Associate Director

My role is to assist our clients in assessing their exposures to the financial markets – predominantly interest rates and foreign exchange – and to structure hedging solutions to manage these risks. I also write JCRA’s Weekly Bulletin, which aims to keep our clients abreast of relevant political and economic developments, and how these may influence the financial markets.

T: +44 (0)207 493 3310

Email Josh

Expertise

  • Private Equity
  • Commodity Hedging
  • Deal Contingent Hedging
  • FX Hedging
  • Hedge Accounting
  • Inflation Hedging
  • Interest Rate Hedging

Qualifications

  • MA & BSc Mathematics, Gonville & Caius College, University of Cambridge

About Josh

I joined JCRA in 2016 and now work on the private equity desk. Our team covers a very broad range of clients, from funds and the companies backed by these through to corporates with more general capital structures.

Prior to joining JCRA, I worked at VTB Capital, the investment-banking arm of the Russian state bank, and Odey Asset Management.

When not at the office, I can usually be found playing piano, running further than is entirely sensible, or failing to work on my first novel. 

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Published work

A good day to bury bad news?

The shift from high street to online retailers matters because they do not make the same contribution to the economy.

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Libor – The risk that’s bigger than Brexit

The discontinuation of Libor promises to be one of the most significant changes to financial markets in decades.

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Forget about event risk – this is the new normal

As market participants and politicians return from their summer breaks, it would seem that the reverberations resulting from three recent geopolitical shocks are approaching their respective climaxes.

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Sterling hamstrung by political infighting

In a previous article, we discussed the concept of “free lunches” - in that no such thing exists, particularly not in foreign exchange markets where the seller needs to make a return in exchange for taking on risk.

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Private Equity Deal Digest Q2 2018

This short paper looks at how interest rate hedging products have been used historically in the real estate market, how ...

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Is the Bank of England’s impending rate hike too late?

All eyes will be turned towards the Bank of England this week, as it prepares to raise interest rates above 0.5% for the first time in nearly a decade at midday on Thursday.

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Davis’ resignation returns political risk to the foreground

Shortly after this week’s bulletin went out, the UK foreign secretary Boris Johnson also tendered his resignation – with the result that UK markets were briefly rather less sanguine than described.

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How to bring back the invisible hand of the market

‘Oligopoly’ is not the kind of word PR teams generally advise their chairman to use when describing the sector in which his company is one of the key players. So when Bill Michael, chairman of KPMG’s UK business says of the Big Four accountancy firms that “We are an oligopoly – that is undeniable”, it is probably advisable to take him seriously.

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It couldn’t happen here

Last Friday saw the Central Bank of the Argentine Republic put the monetary policy dilemmas of every other country into perspective as it raised interest rates to an eye-watering 40%. While not an unprecedented level for the benchmark interest rate – which has averaged 61.5% since 1979 and hit an all-time high of 1389.88% in 1990 – the hike nevertheless took markets on the blind side.

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The bull case for the US dollar

Almost exactly one year ago, the audience at a conference for corporate treasurers was asked to vote on whether it thought the US dollar would strengthen or weaken over the subsequent 12 months.

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