Voice of Experience: Natalie Horton, Head of Synthetic Equity Trading for North America, Deutsche Bank

By Melissa J. Anderson (New York City)

Natalie Horton, Head of Synthetic Equity Trading for North America at Deutsche Bank, has spent seventeen years learning the business. And her biggest piece of advice comes down to building relationships.

“Network – I could say it a thousand times. It’s so important. Above you, around you, and below you,” she said. “Get to know everyone. That’s how you learn. If I have any sort of problem, maybe I don’t have the answer, but I know who does,” she explained.

Horton has built her career by taking risks and making connection with others – and, she said – she wants more women to feel comfortable doing the same.

Taking Risks

While attending New York University, Horton interned at the American Stock Exchange and the New York Cotton Exchange. After graduating in 1994, Natalie joined Morgan Stanley, where she worked for eight years in equity derivatives trading. In 2002, she left with her boss to co-run a volatility arbitrage book at Deutsche Bank.

After two years, she moved back into single stock option trading and went on to build out the variance swap platform. Then about four years ago, Horton built the Bank’s US synthetic index trading platform.

Horton said, “I’m most proud of the fact that I took these risks, as it has made for an incredibly rewarding and challenging career. There have been many unique moments in my career, such as being the only female equity derivative trader when I was at Morgan Stanley. I feel quite fortunate for these types of opportunities to learn, grow, and most importantly, to contribute.”

She continued, “I’m proud of saying, ‘sure, why not?’ from the very beginning.”

Currently, Horton said, she is working on combining two trading businesses. “They’re two completely different types of business – risk and finance. It requires a lot of cross training and combining of technology.”

“Running a new business is intense, but really enjoyable.”

Encouraging Role Models

Horton said she would like to see more women leaders in the financial services industry.

“We need more female role models,” Horton said. “I got started in this industry because of my step-mother. She was a banker in the 1980s. I grew up in the Midwest and had no plans for a career in finance. When I visited New York she would take me to work with her down by Wall Street. I fell in love with it. She helped me apply for college and gave me my first suit. I idolized her.”

She continued, “We need more of that.”

“We’re heading in the right direction. Everybody needs someone to look up to who they can identify with,” she explained.

Horton said the best piece of advice she’s ever gotten is to “treat everyone with respect and kindness.” She explained, “There is already enough stress in this environment, so it’s important.”

Advice for Women in Trading

“There’s one thing I wish I had known – self promotion. I used to keep my head down and think that everyone knew what I was doing. I was very good at networking in my own circle, but I needed to network up and down and outside my circle,” Horton recalled.

“I would advise young women to ask for help. Don’t navigate by yourself. From day one, find mentors, on the same level as you and above you. Just ask questions.”

She continued, “I’m so proud of the women who come to me for advice. I love that – even women from outside my industry. It’s not the easiest thing in the world to raise your hand and ask, but there are so many people willing to help.”

Horton said she finds time to network and seek advice as well. “I’m part of an executive sponsorship program within the equities group for women globally.”

“The women in my group are from all over the world and that’s incredibly important. I’ve also gotten to know the executive committee which is invaluable. And the training programs are also helpful. You can never have enough coaching,” she said.

In Her Personal Time

“I have two boys – aged four and six – and I work long hours. I use every moment outside work to be with my family,” Horton said.

She credits her husband, a stay-at-home dad, with supporting her career. “Having my husband at home allows me to come and go for work as needed. Knowing my kids are taken care of, I can do my job freely.”