QuantumStreet AI hires Marc Zieger to lead institutional expansion
Fintech firm QuantumStreet AI has appointed Marc Zieger as Executive Vice President of Investment Solutions. Zieger was a co-founder of Scientific Beta, an index platform he helped grow to $60 billion in assets. His hiring signals QuantumStreet's intent to expand its AI-powered indexes and forecasting tools to institutional clients.
Marc Zieger's move to QuantumStreet AI follows his tenure at Scientific Beta, an indexing and analytics firm that originated within the EDHEC-Risk Institute. He previously managed relationships with indexing clients for Morningstar and advised large European institutional clients on risk management and asset allocation at BlackRock. Scientific Beta experienced significant growth, with assets tracking its smart beta indices reaching $59.2 billion by the end of 2019, a 37% increase from the previous year. This growth was largely driven by the success of its multi-factor index offerings. In January 2020, the Singapore Exchange (SGX) acquired a majority stake in Scientific Beta, aiming to expand its own index capabilities. QuantumStreet AI, backed by IBM, provides AI-driven investment research and indexes to institutional clients like global banks, wealth managers, and asset allocators. The firm's platform processes vast amounts of data, including news, to inform its investment models and has over $7 billion in institutional assets linked to its indexes. The company has engaged in notable collaborations, including a partnership with BNP Paribas to create the Cross Asset Trend and AI Index, which combines traditional trend-following with AI-powered signals for institutional investors. Another collaboration involves Star Union Dai-ichi Life Insurance in India, aiming to incorporate generative AI into investment products for the Indian market. This appointment signals a strategic push by QuantumStreet AI to deepen its penetration into the institutional market. Zieger's experience in growing Scientific Beta's assets by attracting large institutional investors aligns with QuantumStreet's objective to expand the adoption of its AI-powered financial tools.
