Greg Lippmann
Greg Lippmann is the Founder and Chief Investment Officer of LibreMax Capital, a leading asset management firm specializing in securitized products, structured credit, and asset-backed finance. As Chairman of LibreMax’s Investment Committee, and a member of the firm’s Risk Management, Valuation, and ESG Committees, Lippmann plays a central role in shaping investment strategy, portfolio construction, and risk oversight across the firm. Prior to founding LibreMax, Lippmann served as Global Head of Non-Agency RMBS, ABS, and CDO Trading at Deutsche Bank, where he led a team of more than 30 senior professionals across New York and London. In this role, he became widely known for his early and vocal skepticism of the U.S. housing boom and his deep expertise in mortgage-backed securities and credit derivatives. Before Deutsche Bank, he was a Director and Head of ABS/MBS Subordinate and CDO Trading at Credit Suisse, further solidifying his reputation as a leading specialist in structured credit markets. Lippmann is best known to the broader public as a central figure in Michael Lewis’s The Big Short, where his work identifying and profiting from structural flaws in the subprime mortgage market was brought to life by Ryan Gosling in the film adaptation. He was one of the original architects of the subprime mortgage short, helping institutional investors understand and hedge against systemic risk during the 2008 global financial crisis.
Greg Lippmann Professional Experience / Academic History
Professional Experience
-
Co-Founder and Chief Investment Officer
-
Global Head of ABS, CDO and Non-Agency MBS Trading
-
Director and Head of ABS/MBS and CDO Trading
Academic History
-
B.A., Economics, Magna Cum Laude
Greg Lippmann began his career at Deutsche Bank as a trader specializing in non-investment-grade asset-backed securities (ABS) and residential mortgage-backed securities (RMBS).
Through deep expertise in structured credit markets, he quickly rose through the ranks to become Head of Asset-Backed Securities Trading, where he focused on mortgage-backed securities, collateralized debt obligations (CDOs), and complex credit derivatives.
In 2003, Lippmann was appointed Global Head of ABS and CDO Trading, overseeing one of Wall Street’s most influential structured credit desks.
His role later expanded to include non-agency mortgage-backed securities, placing him at the center of the U.S. housing and credit markets during the years leading up to and following the global financial crisis.
COMMUNITY INVOLVEMENT
Board Member, New Victory Theater
MEDIA PRESENCE & THOUGHT LEADERSHIP
Greg Lippmann is widely recognized as a leading authority on structured credit, securitized products, and financial risk.
His insights have been featured or quoted in major financial publications and media outlets, including Forbes, Bloomberg, Business Insider, The Wall Street Journal, The New York Times, Yahoo! Finance, Institutional Investor, and MarketWatch.
Through these appearances, Lippmann continues to shape conversations around credit cycles, systemic risk, and the evolving landscape of asset-backed finance.