Originally Posted by Ms. Marvel
I'm just differentiating between a villain and an antagonist (even if you don't see a difference). Because people are speculating that Robert Redford is somebody from the comics like RS or Lukin or Zemo. I suggested that maybe he's just Aleksander Pierce and he uses his power for morally ambiguous purposes (which may involve TWS). He doesn't necessarily have to be a supervillain.
For that to work, Pierce would've had to have been involved in the recovery of Bucky's body in 1945.
Whoever "made" Winter Soldier made him, or at least started making him, immediately after his apparent death in the train attack. Unlike Cap, Bucky didn't have the luxury of laying around like a Capsicle waiting for somebody to thaw him out.
And again, that points to the most likely suspect(s) being HYDRA, since Bucky went down behind enemy lines in HYDRA territory. Plus, they were the ones who had been experimenting on him a few years prior.
Winter Soldier is HYDRA's toy.