Executive Team
Erfa Mahmood

Erfa is a fourth year Commerce student, with a specialization in Finance, major in Economics, and a minor in Political Science. Erfa moved to Canada from Dubai to pursue his higher education. He has been privately investing for the past 6 years with experience in equities, local and foreign ETFs, and commodity trade. He joined UTMCM as a senior analyst in the technology, media and telecom sector, progressing to Portfolio Manager of the consumer staples and discretionary sectors. Feel free to reach out to him if you want to discuss investing, macroeconomics or public policy.

Contact Erfa at


Christian Thormeyer

Christian is a fouth-year Business student, specializing in Management with a minor in Political Science.

He started at UTM Capital Management in 2018 as an analyst in the Consumer Staples sector, was the marketing director in 2019-2020 and is now one of the Vice Presidents. His main responsibilities include maintaining a web and social media presence for the club and for creating marketing materials for upcoming events, in addition to supporting the rest of the executive team with running the club. 

Outside of school and work, Christian has a passion for traveling, cooking, the outdoors, and cycling.

Contact Christian at


VP Marketing
Aavaiz Raza

Aavaiz is a fourth-year Business student specializing in Management. He interned for Max Up this past summer, which is a career consulting firm based in New York. Through his experience as a strategic intern, he got to connect with professionals from various organizations such as JP Morgan, Goldman Sachs, Deloitte, Google, Tesla, Etc.

In 2019 summer, Aavaiz interned with a VP from Morgan Stanley and this initially struck up his interest towards the financial services industry, specifically investment banking. His interests range from personal finance, investing in stocks & Crypto, reading fictional books, watching Netflix, and meditating.


Feel free to connect with him on LinkedIn: https://ca.linkedin.com/in/aavaiz-raza

Contact Aavaiz at


VP Operations
Nicholas Bendici

Nicholas is a fourth-year Commerce student, specializing in Finance and majoring in Economics. He started at UTM Capital Management as a Portfolio Manager for the Consumer Staples sector and now acts as a Senior Advisor for the fund. 


He has gained a breadth of experience in finance after completing multiple internships in M&A and private equity. Most recently, he worked as a private equity summer analyst with Waratah Capital Advisors working on a niche real estate PE strategy.

Contact Nicholas at


Senior Advisor
Portfolio Managers
Santo Romano

Santo is a 4th-year student specializing in Financial Economics and minoring in Mathematics. He is also a Lead Teaching Assistant for Intermediate Microeconomics and Introductory Economics where he emphasizes rigor as well as practical applications. 


With an interest in all things finance, he joined UTMCM as an Analyst covering the Technology, Media, and Telecommunications industry, where he led the team in research and valuation. During the current school year, Santo will be covering the Financial industry as a Portfolio Manager. Santo is truly passionate about the intersection between the economy and financial markets and is a strong believer in modern approaches to investing and portfolio management. His personal investment philosophy is one that pairs rigor with the incorporation of all available information and shared knowledge to produce robust investment decisions. Feel free to reach out to him to chat about the economy, financial markets, and investing strategies. 


Outside of school, Santo's hobbies include cycling, cooking, and working on cars and motorcycles. 


Contact Santo at


Portfolio Manager
Ana Pav

Ana is a 3rd-year Finance and Economics student at UofT. She has a wide range of banking expertise from working at TD Canada Trust as a Financial Advisor and most recently completed a corporate finance summer internship at BMO.


Ana enjoys competing in case competitions and was a finalist for the National Investment Banking Competition hosted in Vancouver last March. She is involved on campus as a Calculus Teaching Assistant and enjoys to hike in nature and play basketball in her free time.

Contact Ana at


Technology & Telecomm.
Portfolio Manager
Robert Boronea

Robert is a third-year Commerce student, specializing in Finance along with a major in Economics. This is his second year with UTM Capital Management, previously the associate and now as the portfolio manager for the consumer staples and discretionary sector.


He has previously worked as a Finance Manager for a non-profit organization and has an interest primarily in Corporate Development and M&A. He joined the fund to gain more experience analyzing market trends and conducting equity research, and looks forward to another successful year with the team!

Contact Robert at


Consumer Staples & Discretionary
Portfolio Manager
Raunaq Rohile

Raunaq Rohile (Third-year Finance Specialist) has been with UTM Capital Management since 2018, progressing from the role of an Analyst to now as Portfolio Manager for the commodities sector. He is the Director of IMI Competition Group and is a Teaching Assistant with the Department of Management. His exposure to the capital markets through this club and case competitions has led to an interest in Investment Banking as a career. He has previously interned in Audit at KPMG, and as a Financial Analyst at Microtrans. In his free time, Raunaq enjoys playing soccer, going to the gym, and spending time with friends and family.

Contact Raunaq at


Portfolio Manager
Nicholas Tymko

Nicholas is a fourth-year Commerce student, specializing in Finance. He joined UTM Capital Management as an Associate in 2019, supporting coverage of the Utilities and Industrials sector and now serves as the Portfolio Manager for the Healthcare sector.  

He has gained experience on the buy-side via the completion of multiple internships, most recently as a summer analyst at CI Institutional Asset Management where he worked to support the investment management of several endowments, insurance platforms, and pension plans across a variety of managed and multi-asset solutions.  

Outside of school and work, Nicholas is passionate about physical exercise, working on his golf game, and enjoying the creative process of photography!  

Contact Nicholas at


Portfolio Manager
Nicholas Gondzik

Nicholas is in his fourth year pursuing a Finance Specialist and has an unbridled passion to follow current events and the capital markets to identify business developments and investment opportunities. In the past two years at UTM Capital Management he has delved into the analysis of the Healthcare sector, with the successful performance of two company pitches: Medtronic in March 2019 and Zoetis in April 2020.


This year he has decided to take on the Real Estate industry to reflect his interest in the property market close to home, along with analyzing the future prognosis of the industry with respect to COVID-19.


Outside the finance lab, he spends his time outdoors, whether it is biking, snowboarding, or a simple hike. Nicholas is striving to enroll in the Masters of Management Analytics program at Rotman to acquire a more comprehensive breadth on how to leverage the power of data in the realm of finance and business.

Contact Nicholas at


Real Estate
Portfolio Manager
Senior Analysts
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