Hedge Fund Quant Jobs Have Their Rewards

Hedge fund and other financial professionals who toil away on highly complex and sophisticated financial models have their “Academy Awards” too. Recently, The CME Group, which bills itself as the world’s largest and most diverse derivatives marketplace, and the Mathematical Sciences Research Institute (MSRI), awarded their fourth annual grand prize for innovation.

The award recognizes individuals or groups who contribute original concepts and innovation in the use of mathematical, statistical or computational methods for the study of the behavior of markets and, more broadly, of economics. This year’s recipient was Dr. Sanford Grossman, Chairman and CEO, QFS Asset Management, according to a Reuters news¬†release.

Dr. Grossman’s research has spanned a broad spectrum of economics and quantitative finance, notably in the analysis of information in securities markets, corporate structure, property rights and optimal dynamic risk management.¬† He has published widely in leading journals and received the 1993 Mathematical Finance Best Paper Award for “Optimal Investment Strategies for Controlling Drawdowns.”

“Quantitative research continues to play a vital role in the spectacular success of hedge funds like those offered by my firm, QFS,” said Dr. Grossman, in accepting the award.

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