JERSEY CITY, N.J., Sept. 17, 2018 /PRNewswire/ -- Qplum welcomes two new members to its team. Calvin Yu will be heading the Multi-Asset Solutions team, and Dr. J. Michael Steele will be a member of the company's Advisory Board.
Calvin will be responsible for business development, bringing Qplum's strategies to institutional investors. For the past three years, he worked at Goldman Sachs as Lead Portfolio Manager and Outsourced Chief Investment Officer, managing over $20 billion of institutional assets. Prior to that, he was Vice President at Pacific Global Advisors LLC, an institutional solutions business that was acquired from J.P. Morgan. "This is an exciting step. There is great potential for artificial intelligence to identify investment opportunities and streamline fees, which should resonate in today's environment," Calvin said.
Dr. Steele will be an Advisor to the quantitative research team. He is the C.F. Koo Professor of Statistics Emeritus of the Wharton School, University of Pennsylvania. He's won various awards and written multiple books including Stochastic Calculus and Financial Applications. "I'm delighted to be part of the team in this exceptional time for quantitative financial management."
"We continue to grow our capabilities to deliver customized investment mandates in a transparent and cost-efficient manner. The goal is to expand the reach of our products to endowments, foundations and pension plans. Gaurav and I studied under Dr. Steele at UPenn back in 2004. It is an honor to have him as one of our advisors," said Qplum CEO, Mansi Singhal.
Qplum launched in 2016 and works with retail and institutional clients.
Qplum is a machine-learning based asset manager that uses algorithms to invest. It has three product lines: Wealth, Alpha, and Solutions. The Wealth product line services needs of high net-worth individuals and families. The Alpha and Solutions product lines are focused on servicing investment needs of RIAs, family offices, endowments, foundations, and pension funds.
Founded by investment industry professionals, Qplum is based in New Jersey.
SOURCE Qplum LLC