Silva Capital Management, LLC is a financial services firm based in Chicago, Illinois, with market-recognized expertise in emerging market debt and currency investing.

Founded in the aftermath of the financial crisis, SCM was launched after a group of managers at Merrill Lynch and UBS saw a need and an opportunity to deliver EM investment and risk management solutions to clients adversely affected by the downturn. Since that time, our firm has grown and expanded its offerings, yet it remains an independent, employee-owned organization.

Silva Capital has been recognized as a top-performing manager, winning 10 performance-related recognition awards since its inception in late 2008. In both 2010 and 2011, SCM ranked as one of the best performing alternative hedge fund managers within its investment sphere.

At Silva Capital, candor and curiosity are prized above all, and sound, peer-reviewed argument forms the basis of our investment process. Our strategy is both liquidity-focused and value-driven and targets themes from external and local currency sovereign debt to exotic FX option spreads.

Our principal goal remains the delivery of superior returns and performance to our clients throughout our offerings.

Alejandro Silva is responsible for guiding the firm's strategy, directing currency investments, and determining portfolio risk allocation. Mr. Silva holds market-recognized expertise in exotic options and over-the-counter currency and rates structuring. Prior to founding Silva Capital, Mr. Silva provided FX and interest rate risk management and investment solutions to financial sponsors, corporations, and high net worth individuals at Merrill Lynch and J.P. Morgan.


  • Director – Merrill Lynch, Fixed Income
  • Vice President – J.P. Morgan, Global Currencies and Commodities Group
  • Vice President – Wells Fargo, Foreign Exchange


  • Hedge Fund Program - Dubai, London Business School
  • E-Commerce Program, Northwestern University
  • B.A., University of Vermont

Alejandro Urbina oversees the management of the Silva Capital’s fixed income portfolio and leads the team responsible for its macroeconomic, country, and issuer research. Before joining the firm, Mr. Urbina worked as an Emerging Markets Portfolio Manager at UBS Global Asset Management, where he was responsible for Latin American investments in portfolios with a combined AUM of over $9bn.


  • Director – UBS, Global Asset Management
  • Senior Capital Market Strategist – Banc One Capital Markets, Currency Strategy
  • Associate Economist – ABN AMRO
  • Associate Economist – Federal Reserve Bank of Chicago


  • M.B.A., Booth School of Business, University of Chicago
  • M.P.P., Harris School of Public Policy, University of Chicago
  • B.A., University of Texas at Austin

Robert Tanner is the architect of the Silva Capital’s risk modeling and quantitative analyses and maintains the firm’s internal pricing and VaR models. Dr. Tanner also plays an active role in the day-to-day management of SCM’s currency portfolio, where he is responsible for position optimization, overlay structuring, and exposure monitoring. Prior to joining Silva Capital, Dr. Tanner developed cross-asset analyses for return optimization and risk mitigation purposes at Merrill Lynch and, earlier, built and maintained passive currency overlay models at J.P. Morgan.


  • Vice President – Merrill Lynch, Fixed Income
  • Associate – J.P. Morgan, Global Currencies and Commodities Group
  • Associate – Banc One Capital Markets, Risk Management Advisory
  • Post-Doctoral Research Assistant – University of Nottingham, Division of Theoretical Mechanics


  • Ph.D., University of Nottingham
  • B.Sc. (Hons), University of Nottingham