Jonathan S. Spencer

Jon Spencer is a Managing Partner, President, and Chief Investment Officer of Gresham Investment Management and is responsible for the firm’s investment strategy and execution. As one of two Managing Partners, alongside Adam Gehrie, he shares responsibility for the overall leadership and strategic direction of the firm. In his capacity as President, Mr. Spencer has final decision-making authority on firm-wide matters.

Mr. Spencer is an original founder of Gresham and has been instrumental in shaping the firm’s investment philosophy and capabilities since its inception. He led the development of Gresham’s flagship Tangible Asset Program (TAP®), the firm’s original commodities investment strategy, which has been in continuous operation for more than three decades. TAP® has evolved over time in both construction and implementation and today trades a diversified set of commodities across global futures markets, incorporating techniques such as term structure analysis and relative value positioning to enhance returns.

In his role as CIO, Mr. Spencer oversees all investment activities at Gresham, including portfolio management, research, and risk management, and plays a central role in the ongoing development of the firm’s systematic strategies. He works closely with clients on portfolio construction and asset allocation, particularly with respect to the role of commodities and real assets in diversified portfolios.

In addition to his leadership at Gresham, Mr. Spencer has contributed to broader discussions on asset allocation and portfolio construction. He is the author of the chapter “Balancing Act – The Art of Asset Allocation” in the book Wealthy And Wise.

Mr. Spencer holds a B.S. in Management Information Systems from the State University of New York at Buffalo. He is a member of the Family Office Exchange and the New York Society of Security Analysts.

Adam I. Gehrie

Adam Gehrie is a Managing Partner, Chief Administrative Officer, and General Counsel of Gresham Investment Management and has been a member of the firm’s senior leadership team since 2014. As one of two Managing Partners, alongside Jon Spencer, he shares responsibility for the overall leadership and strategic direction of the firm.

In addition to overseeing Gresham’s legal, compliance, and corporate governance functions, Mr. Gehrie manages Investor Relations and plays a central role in the firm’s engagement with institutional clients. His responsibilities span both the operational and commercial aspects of the business, including governance, capital formation, and long-term client partnerships. He also serves on the boards of directors of Gresham’s private investment funds.

Mr. Gehrie brings extensive experience advising alternative asset managers and institutional investors on complex regulatory and transactional matters. Prior to joining Gresham, he was a senior member of the Legal & Compliance team at Eton Park Capital Management, a multi-strategy hedge fund manager. Earlier in his career, he practiced in the investment management groups at Dechert LLP and Orrick, Herrington & Sutcliffe LLP.

Mr. Gehrie holds a B.A. from Amherst College, where he was elected to Phi Beta Kappa, and a J.D. from Georgetown University Law Center, where he served as an editor of The Georgetown Law Journal.

Christopher Batruch

Christopher Batruch is a seasoned technology executive with over 30 years of experience across enterprise IT and cybersecurity. He brings comprehensive expertise spanning infrastructure, systems architecture, and security strategy, with a proven ability to design and implement resilient, scalable technology environments.

In his role, he leads both technology innovation and cybersecurity governance, ensuring that platforms are secure, efficient, and aligned with business objectives. His background includes hands-on leadership across all domains of cybersecurity, enabling the organization to proactively manage risk while maintaining operational performance at scale.

He majored in Computer Science at Rutgers University and has built his career through continuous, real-world application at the forefront of a rapidly evolving technology landscape.

Beyond his professional experience, he is an accomplished triathlete, a pursuit that reinforces his strengths in endurance, focus, and high‑performance consistency—qualities that translate directly into his work.

Dr. Reinhold W. Gebert

Dr. Reinhold Gebert, Chief Operating Officer, re-joined Gresham Investment Management in 2024 after a six-year stint at quant trading firm Teza Technologies as Chief Operating Officer & Chief Risk Officer, where he both spearheaded major infrastructure projects and was directly responsible for client facing business development.

Reinhold had previously served as Gresham’s Chief Operations Officer & Chief Risk Officer from 2012 to 2017. During this previous tenure at Gresham, he re‐engineered Gresham’s portfolio management, trading, accounting, and compliance functions by designing and implementing a fully integrated enterprise applications platform and built out Gresham’s enterprise risk management function and risk reporting for systematic trading strategies. In his current role, Reinhold has assumed leadership of Gresham’s Risk, Operations, and Infrastructure Committee, which is Gresham’s executive governance body responsible for these functions.

Prior to Gresham, Reinhold held senior executive roles at ContourGlobal, Barclays Wealth Americas, and Lehman Brothers' Private Investment Management. Prior to that, Reinhold worked as a consultant in the Financial Institutions practice at McKinsey & Company, where he advised senior executives in the asset management and brokerage industry on strategy, business development, product design, pricing, and profitability.

Before his work in the "for-profit" sector, Reinhold, who has authored numerous articles on mathematical aspects of string theory, conducted research in theoretical high-energy physics at the Institute for Advanced Study in Princeton. Reinhold holds a M.Sc. in Mathematics from the University of London and a Doctorate in Theoretical Physics from Hamburg University in Germany.

Michael Hammond, CAIA

Michael Hammond is Head of Global Business Development for Gresham. Michael serves as the primary point of contact for institutional investors and investment consultants, providing investment counsel with respect to active commodity allocations. Prior to joining Gresham in 2017, Michael worked at CoreCommodity Management, LLC where he focused on asset raising for 10 years in liquid real assets strategies, specifically commodities and natural resource equities. Michael graduated from Vanderbilt University with a B.A. in Economics.

Katerina Kambouris

Katerina Kambouris is the Chief Financial Officer, Corporate Accounting at Gresham Investment Management LLC. She is responsible for the corporate accounting and financial reporting for Gresham. Prior to joining Gresham in October of 2011, Ms. Kambouris worked as a fund accounting and reporting manager in the Alternative Investments department for Morgan Stanley. Prior to that, she was a senior associate in the Alternative Investments department for PricewaterhouseCoopers. Ms. Kambouris graduated summa cum laude with a Bachelor of Business Administration in Accounting from Baruch College Zicklin School of Business.

Maggie Liu

Maggie Liu is the Chief Financial Officer, Fund Accounting at Gresham Investment Management LLC. Ms. Liu is responsible for overseeing the day-to-day fund accounting and administration for all entities of Gresham. She has had over 25 years of fund accounting and financial reporting experience since she joined Gresham in 1997 as a portfolio accountant. Ms. Liu received a B.A. in Accounting from Brooklyn College of The City University of New York.

Anna Tkachev

Anna Tkachev is the Chief Compliance Officer at Gresham Investment Management LLC. She is responsible for the design, implementation, and ongoing oversight of Gresham’s compliance program. In this role, the CCO leads the development of policies and procedures to ensure adherence to applicable regulatory requirements, industry standards, and internal governance frameworks. Prior to Gresham, Anna held senior roles in the areas of Compliance, Risk, Governance, Operations and Regulatory Affairs at Nuveen, Deutsche Bank and DWS Asset Management. Anna began her career as an actuary in the Retirement and Benefits practice at PricewaterhouseCoopers in New York. and holds MBA from New York University Stern School of Business and a B.S. in Actuarial Science and Applied Mathematics from Maryville University of St. Louis. Anna also successfully passed the FINRA Series 7 exam and the Financial Math, Probability & Statistics, Applied Statistical Methods, and Operations Research Society of Actuaries examinations.