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 all the latest headlines follow our Google News channel online or via the app
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’ digital unit Jio Platforms.
- India’s Reliance says Abu Dhabi’s ADIA will invest $752 mln in its digital unit
- Abu Dhabi’s Mubadala, private equity firm Kohlberg to take majority PCI Pharma stake
- Coronavirus: Abu Dhabi’s Mubadala expects U-shaped global recovery in 2021
- Abu Dhabi's Mubadala says subsidiary begins producing N95 masks with Honeywell
- Abu Dhabi's Mubadala sells $4 bln in three-tranche bonds
- Mubadala plans healthcare fund for 2021 following coronavirus demand spike
- Abu Dhabi wealth fund Mubadala weighs deal in Shetty’s troubled NMC
- UAE’s Mubadala to increase investment in life sciences, medical technology
- UAE's Mubadala evaluating SoftBank's Vision Fund 2: Executive