Hunter grew up near Calgary and earned a master's degree in mathematics from the University of Alberta. Hunter gained experience at Calgary based TransCanada Corp. before moving to New York to join Deutsche Bank in May 2001. There, he made $69 million for the bank in his first two years. By 2003, Hunter was promoted to head of the bank's natural gas desk.[1] In December 2003 Hunter's trading group lost $400 million in a single week in an excessively risky trade.[2] In a New York state court lawsuit, Hunter ascribed the loss to "an unprecedented and unforeseeable run-up in gas prices," meaning Hunter's failure to foresee the risk of his own trade rendered him blameless for its consequences.[2] Hunter also blamed Deutsche's trading software for allowing him to take large gambles.[2] Finally Hunter said he had earned $40 million for the bank during 2003, and therefore not only was he not responsible for the loss, he actually deserved a bonus.[2] Deutsche Bank denied the allegations and he subsequently was let go from the firm.