Mr. Padovano is an Executive in Residence and Director of Applied Quantitative Finance at Villanova School of Business. A 1989 graduate of Villanova University with a B.S. in Finance, he spent 22 years on Wall Street before retiring in 2011. Most recently, he was a Managing Director and head of Structured Credit Proprietary Trading at Bank of America Merrill Lynch, a group which was an internal quantitatively driven hedge fund that invested in and traded credit derivatives, structured credit, subprime debt, mortgages, collateralized debt obligations and index arbitrage. He was employed by Merrill Lynch since 1990 and prior to starting the proprietary trading effort in 2003, Mr. Padovano held various senior management roles including Global Head of Structured Credit (structured debt, CDOs and CLOs), Global Head of High Grade Credit Trading (credit default swaps, index swaps, corporate bonds, preferred stock, money markets, commercial paper and structured securities) and Global Head of Credit Derivatives (credit default swaps, CDOs, CLOs and structured debt). As one of the pioneers in the credit derivative business, Mr. Padovano helped merge cash credit trading with credit derivative trading as well as being one of the original members of the team that created the standardized credit default swap contract for the International Swaps and Derivatives Association. Prior to his senior management roles, Mr. Padovano traded asset swaps, repackaged credit products, credit default swaps and was an analyst on the interest rate derivative desk.