Marcos López de Prado hired to expand machine learning initiative
AQR Capital Management, LLC (“AQR”), a global quantitative investment management firm, today announced that Marcos López de Prado has joined the firm as a Principal and Head of Machine Learning.
As Head of Machine Learning, Marcos will be part of AQR’s research and portfolio management teams and will focus on further developing the machine learning tools and techniques used at the firm.
“We are pleased to have Marcos join AQR to lead our machine learning group,” said Cliff Asness, AQR Managing Principal and Chief Investment Officer. “Our foundation in applied academia and our culture of intellectual curiosity mean we are always relentlessly looking for new data, signals and techniques to strengthen our investment process and build long-term persistent strategies. Our continued investment in machine learning will further advance these efforts.”
Marcos is an expert in the field of machine learning. He is the author of the graduate textbook “Advances in Financial Machine Learning” and has published dozens of scientific articles on machine learning and supercomputing in leading academic journals. In addition to hiring Marcos to work with AQR’s existing research organization, the firm will look to bring on more resources to further develop machine learning tools.
“Innovation and research are at the core of what we do, driving us to develop diversifying solutions to meet our clients’ evolving needs,” said David G. Kabiller, AQR Co-Founder. “With a distinguished academic background and values consistent with ours, we look forward to partnering with Marcos to enhance our machine learning initiatives.”
“I am excited to join AQR, a pioneer in quantitative investing with a remarkable track record of developing innovative solutions for their clients,” said Marcos López de Prado. “I look forward to augmenting AQR’s machine learning efforts to create powerful tools for clients that will complement AQR’s impressive research and portfolio management teams.”
Most recently, Marcos founded and led Guggenheim Partners’ Quantitative Investment Strategies business, where his team developed high-capacity machine learning strategies and managed portfolios for up to $13 billion in assets.
Marcos has been a research fellow at Lawrence Berkley National Laboratory (U.S. Department of Energy, Office of Science) since 2011, and SSRN ranks him as one of the most read authors in economics. Marcos earned a PhD in Financial Economics and a second PhD in Mathematical Finance from Universidad Complutense de Madrid, and is a recipient of Spain's National Award for Academic Excellence. He completed his post-doctoral research at Harvard University and Cornell University, where he teaches a Financial Machine Learning course at the School of Engineering.
More information about AQR may be found here.
AQR is a global investment management firm dedicated to delivering results for our clients. At the nexus of economics, behavioral finance, data and technology, AQR’s evolution over two decades has been a continuous exploration of what drives markets and how it can be applied to client portfolios. The firm is headquartered in Greenwich, Connecticut, with offices in Boston, Chicago, Hong Kong, London, Los Angeles, and Sydney. As of June 30, 2018, AQR and its affiliates had approximately $226 billion in assets under management.