DUBAI – Abu Dhabi Investment Authority (ADIA), UAE’s biggest sovereign wealth fund, has appointed a Cornell University professor, Marcos Lopez de Prado, as global head of quantitative research & development, the fund said on Tuesday.
Prado will join a newly created investment group within ADIA’s strategy and planning department, to apply a systematic, science-based approach to developing and implementing investment strategies.
For the past 21 years, Prado has held positions in the academic, investment management and scientific research fields. Most recently he was professor of practice at Cornell University’s School of Engineering, teaching machine learning, the statement.
Technology has been a big focus area for both ADIA and Mubadala, UAE’s two biggest sovereign wealth funds.
ADIA, which was established in 1976 and manages about $700 billion in assets, recently took a minority stake in Reliance Industries’ RELI.NS digital unit Jio Platforms.
(Reporting by Saeed Azhar, editing by Ed Osmond) ((Saeed.Azhar@thomsonreuters.com; +971 44536787; Reuters Messaging: saeed.azhar.reuters.com@reuters.net))
