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The Team | 100+ Years at Merrill Lynch, BofA & Fisher Investments | Armada Capital Group
The Team Behind the Returns

Institutional pedigree.
Verified results.

Five partners. Over 100 combined years across Merrill Lynch, Morgan Stanley, Fisher Investments, and Bank of America — behind a 738% verified track record.

100+
Years Combined
|
5
Partners
|
$300M+
Managed Prior
|
$5B+
Daily FX P&L (BofA)
Merrill Lynch
·
Morgan Stanley
·
Fisher Investments
·
Raymond James
·
Bank of America
·
Arcane Capital
Fund Partners

The people
managing your capital.

Each partner brings deep, specialised experience in FX markets, fund operations, capital raising, and institutional compliance.

PW
● Partner
Phil Williams
Capital Markets & Investor Relations

Phil brings over 23 years of financial services experience, having held senior positions at Merrill Lynch, Raymond James, and Morgan Stanley. His deep understanding of capital markets and investor relations has been foundational in building Armada's accredited investor base and maintaining institutional standards across the fund.

Merrill LynchRaymond JamesMorgan Stanley23+ Years
NF
● Managing Partner
Nairne Farner
Fund Operations & Compliance

Nairne oversees day-to-day fund operations with 7+ years of dedicated fund management experience. Prior to Armada, he served at Arcane Capital where he developed deep expertise in fund structuring, NAV administration, and regulatory compliance. He ensures the fund operates to the highest institutional standards.

Arcane CapitalFund OperationsReg D Compliance7+ Years
RD
● Partner
Raj Duggal
Portfolio Management & Strategy

Raj is a former VP at Merrill Lynch and previously managed over $300M in client assets at Fisher Investments. His institutional portfolio management background informs Armada's risk-adjusted approach to systematic FX trading — ensuring capital preservation is always the first priority alongside performance.

Merrill Lynch VPFisher Investments$300M+ Managed
CB
● Partner, VP Global Capital Markets
Chris Barber
FX Strategy & Global Capital Markets

Chris spent 19 years at Bank of America Merrill Lynch, overseeing a daily FX P&L exceeding $5 billion. His institutional-grade FX expertise drives Armada's currency pair selection, execution methodology, and risk parameters. Few people in the world have managed FX at this scale.

BofA Merrill Lynch$5B+ Daily FX P&L19 Years FX
AA
● Partner
Alexander J. Affleck
Business Development & Strategic Advisory

Alexander is a multi-company founder with deep roots in international banking and cross-border capital deployment. He serves as advisor to 12+ companies across multiple sectors, bringing a broad strategic perspective and a global network to Armada's business development and institutional partnership efforts.

Multi-FounderInternational BankingAdvisor to 12+ Companies
Fund Snapshot
4-Year Return+738.21%
Positive Months47 / 48
Min. Investment$500K
Mgmt Fee$0
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Institutional Partners

The infrastructure
behind the fund.

Third-party administration, independent legal counsel, verified compliance, and institutional prime brokers.

🏢
Caruso
Fund Administrator · NAV Calculation

Independently calculates and certifies Armada's monthly NAV, uploaded to the investor dashboard 2–3 weeks after month-end.

420+ clients · 32,000+ investors · $30B+ AUA
⚖️
Clarkson PLLC
Legal Counsel · Regulatory Compliance

Led by Gavin Clarkson — former Deputy Assistant Secretary of the U.S. Interior. Full Reg D, SEC, and CFTC compliance. FINRA 7, 24, and 66 licensed.

Former U.S. Government · FINRA 7, 24, 66
Alpha Performance Verification
Independent Performance Auditor

Every return figure audited by Michael W. Hultzapple — CPA, CFA, and CIPM certified. No affiliation to Armada whatsoever.

Audit issued January 6, 2026
🏦
Swissquote
Prime Broker · Execution

Swiss-regulated institutional FX prime broker. Segregated client accounts and oversight from one of the world's most trusted financial jurisdictions.

Swiss-regulated · Segregated accounts
🌐
AGBK
Banking Partner

Institutional banking supporting fund operations, wire settlements, and capital deployment — ensuring investor funds move securely at every stage.

Institutional banking infrastructure
🔗
Broctagon
Prime-of-Prime Liquidity

Institutional liquidity provider with deep FX order book access — enabling Armada to execute 4,363 trades across 4 years with minimal slippage.

Prime-of-prime · Deep liquidity

Talk directly
to the team.

No sales reps. When you reach out, you speak directly with a partner. We respond within one business day.

Past performance is not indicative of future results. Returns independently verified by Alpha Performance Verification Services (Michael W. Hultzapple, CPA, CFA, CIPM). Available to accredited investors only under Reg D 506(c).

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