Michael Paulus - Managing Director


Michael Paulus has over 30 years of financial markets experience in both the public and private sectors, including senior positions at both the Federal Reserve Bank of New York and the U.S. Treasury Department.

Prior to joining OpenDoor, Michael was Managing Director and Head of the Public Sector Group for Asia-Pacific at J.P. Morgan based in Hong Kong.  He was responsible for the firm’s business with Asia-Pacific governments, central banks, sovereign and quasi-sovereign entities, government pension funds, policy banks and state and local governments and agencies.  Prior to joining J.P. Morgan in June 2013, Michael held similar positions at Citigroup and HSBC.

Michael began his career as an economist at the Federal Reserve Bank of New York in 1982. He joined the Fed’s Foreign Exchange Desk in 1985 and in 1988 was appointed an Officer of the Federal Reserve as well as Manager and Chief Dealer of the Foreign Exchange Desk (which conducts foreign exchange intervention operations on behalf of the U.S. monetary authorities). Following eight years at the Federal Reserve, Michael moved to the private sector where he focused on developing hedge fund, prime brokerage and asset allocation businesses at J.P. Morgan and Bank of America.

In January 2000, Michael was appointed by President Clinton as the Deputy Assistant Secretary for Federal Finance at the U.S. Treasury Department.  His primary responsibilities were managing the debt of the U.S. government as well as advising the Secretary of the Treasury and other senior Administration and Treasury officials on financial market developments.  Michael also served as the Vice Chairman, and Acting Chairman, of the Steering Committee of the President’s Working Group on Financial Markets.  The Bush Administration asked him to remain with the Treasury Department to help with the transition following the presidential election.

In October 2001, Michael joined Citigroup, London, as Head of UK Investor Foreign Exchange Sales in the Fixed Income Currencies and Commodities Group.  He led a team that provided foreign exchange services to central banks, monetary authorities, sovereign wealth funds and UK and European asset managers and insurance companies.  In 2005, he was asked to establish the Public Sector business in Asia-Pacific for Citigroup based in Hong Kong.

Michael earned a B.A. Degree in Economics, History and Political Science from the University of Wisconsin, Milwaukee and graduated Phi Beta Kappa.  He earned a Master of International Affairs Degree from Columbia University in New York, specializing in International Economics and International Political Economy.  In 2000, he was awarded the U.S. Treasury’s Exceptional Service Award.  Michael is a past Chairman of the America’s Committee of the Hong Kong General Chamber of Commerce (2012–2015).  He is the author of Chapter 19, “FX Reserve Management”, in “The Handbook of Exchange Rates”, (Wiley 2012).