Terrence R. Brown

Mr. Terrence R.
Brown is a CIO & Chairman of the Investment Committee at NorCap Investment Management LP.
Mr. Brown began his career trading options in the 1980s for Smith Barney, Inc. Prior to NorCap, for 20 years, Mr. Brown was an independent S&P 500 Index (“SPX”) options trader at the Chicago Board of Exchange (“CBOE”).
He also served on the CBOE OEX Pit Committee and was a CBOE Floor Official.
Previously, he was the General Partner of TBR Trading, LLC, after having been an independent SPX options market maker at the ?rm earlier in his career.
Prior to TBR, Mr. Brown was the General Partner and Risk Manager for CBM Trading, a Chicago (U.S.A.) CBOE market-making ?rm trading SPX options.
Prior to CBM, he was a Managing Partner at Panos Trading, where he was a market maker in the S&P 500 Index Options Pit.
Additionally, he oversaw new market makers and overall trading for the ?rm.
He received his undergraduate degree from Western Illinois University.