Lisa Goldberg, former Executive Director of Research at MSCI, joins Aperio Group

SAUSALITO, Calif., Aug. 20, 2013 /PRNewswire/ -- Aperio Group, an investment management firm that is leading the next generation of indexing strategies, including Active Tax Indexing, Custom Beta Design, and Socially Responsive Indexing, announced today that Lisa Goldberg has joined the firm as Director of Research. Complementing her work at Aperio Group, Goldberg will continue as faculty at University of California, Berkeley where she serves as Director of Research at the Center for Risk Management Research.

"Public equity portfolios are being revolutionized, moving from a style box to a multi-factor approach so that now, more than ever, financial research and investment strategies rely increasingly on complex statistical models," said Patrick Geddes, Aperio's Managing Partner and Chief Investment Officer.  "Lisa's deep theoretical and real world understanding of financial models will be invaluable in helping Aperio deliver insightful and practical research on the issues that most concern our clients. Lisa's commitment to transparency and intellectual rigor fits perfectly into our firm.  She will provide expert guidance helping our clients understand the latest models, not only theoretically, but how they affect taxable investors who are constrained by real world implementation costs."

Reflecting on her decision to join Aperio, Goldberg said: "The Aperio team is driven by curiosity, passion and honesty, and has created a collaborative culture that furthers exploration and innovation. Aperio has taken a leading role in elevating and enhancing our understanding of financial markets; I am excited to combine my risk expertise with Aperio's tax economics, ESG and factor work to develop sound investment strategies that consider the frictions experienced by real world investors."

Prior to joining Aperio Group, Ms. Goldberg was an Executive Director of Research at MSCI where she directed research supporting pension funds, endowments, and sovereign wealth funds, with an emphasis on risk due to extreme events asset allocation, and credit.  Ms. Goldberg holds a B.A. degree in Mathematics from University of Rochester and a Ph.D. in Mathematics from Brandeis University, and has held academic positions at UC Berkeley, City University of New York, the Institute for Advanced Study, l'Institut des Hautes Etudes Scientifiques and the Mathematical Sciences Research Institute. In addition to her role at the Center for Risk Management Research, she is Adjunct Professor of Statistics at the University of California, Berkeley.  She serves on the editorial board of the Financial Analysts Journal and on  the conference  board of the Journal of Investment Management, and she is an expert judge for the Haas Business School's Moskowitz Prize for Socially Responsible Investing.  She is the co-author of a book, Portfolio Risk Analysis, and more than 40 articles on mathematics and quantitative finance in peer-reviewed journals.  Lisa (with co-authors Robert Anderson and Stephen Bianchi) was awarded a Graham-Dodd Scroll Award for Excellence by the Financial Analysts Journal for her paper "Will My Risk Parity Strategy Outperform?"  Most recently, Lisa co-authored the groundbreaking paper on leverage, "The Decision to Lever," which attributes the performance of a levered strategy to key risk factors, including transaction costs and the covariance of leverage with the return to a fully invested source portfolio that is to be levered.

Aperio Group LLC, based in Sausalito, California, is a pioneer in designing and managing custom portfolios to track index benchmarks or deliver targeted risk, factor, geographic, or industry exposures customized to a client's specific tax situation, values, and/or desired economic exposure. As an investment advisor, Aperio works with both taxable and tax-exempt investors to track a broad range of U.S. and international indexes. For more information, visit www.aperiogroup.com. Form ADV Part 2A contains complete information regarding our services and fees, which can be obtained at www.adviserinfo.sec.gov.

SOURCE Aperio Group