Randy Migdal is the Head of NTA Trading, which includes Gresham’s Tangible Asset Program® (TAP®). Mr. Migdal began working for Gresham in 1995. From 2003-2006, he was on a secondment with Lehman Brothers' Investment Management Division. Mr. Migdal received a B.A. from Hofstra University.
Benjamin Maat is the Head of TSM Trading. Previously, Mr. Maat was Senior Portfolio Manager at Blenheim Capital Management B.V., in the Netherlands, working in the global macro team and focusing on commodities. Prior to that, he was Head of the Liquid Commodity Fund at APG, managing $14 billion in liquid commodity exposure as well as three portfolio managers. Mr. Maat holds a Master of Science degree in Business Administration/Finance & Investing from Erasmus University Rotterdam, the Netherlands. He is also a CFA and CAIA charterholder.
Hiroshi Hamazaki is Head Trader in Gresham’s TSM division and also trades for the firm’s active long-only and systematic exotic commodities strategies. Prior to joining Gresham in 2013, Hiroshi was a Portfolio Manager at Nomura Funds Research and Technologies America. Hiroshi holds a Bachelor of Science in Electrical Engineering from the University of Illinois at Urbana-Champaign, and a Master of Business Administration (MBA) in Finance from the NYU Stern School of Business. Before obtaining his MBA, Hiroshi worked as an R&D Engineer in the European aerospace market.
Scott Kerson is responsible for strategy research across Gresham’s quantitative trading business. Prior to joining Gresham, Scott was a partner at AHL Partners, LP, where he was Head of Commodities and a member of the AHL Research Advisory Board. Previously, Scott held a variety of commodity research and trading positions, including Commodities Model Owner in Barclays Global Investors systematic macro group, discretionary trader and quant at Ospraie and Amaranth, and Managing Director at Deutsche Bank and Merrill Lynch. Scott holds a BA in Economics with Highest Honours from the University of California at Santa Cruz and departed ‘AbD’ with a MA in Financial Economics from Duke University.
Thomas Babbedge is Chief Scientist & Deputy Head of Systematic Strategies at Gresham Investment Management LLC. Thomas is responsible for developing the underlying methods and codebase for the firm’s systematic managed futures strategies, as well as on-going research into new trading systems, portfolio construction and risk management. Prior to joining Gresham, Thomas was a Senior Researcher at Winton Capital Ltd (2007-2016). During his time there he was, amongst other roles, Head of Investment Analytics and personal researcher for both David Harding (Founder) and Prof. David Hand (Chief Scientific Advisor). Previously, Thomas was a post-doctoral researcher in the Astrophysics group at Imperial College London (2004-2007), working on galaxy evolution, modelling and observations. Thomas holds a Ph.D. in Extragalactic Astrophysics from Imperial College London (2001-2004) and a Masters in Physics with Astronomy from Bristol University (1997-2001).
Prior to working at Gresham, William was Head of Machine Learning at Man GLG, and over a 20 year career has held a number of senior positions in technology, on the buy- and sell-side, including CTO for Man Systematic Strategies, Executive Director in technology at JPMorgan, and Head of Automated and Electronic Trading at CQS. William holds a BSc in Computer Science from Warwick University, a PhD in Theoretical Computer Science from Sussex University and an MSc in Computational Statistics and Machine Learning from UCL.
Scott Klipper is the Head Trader for accounts employing Gresham’s GreshamQuant (GQ) strategy. Prior to GQ’s launch in 2017, Scott was the Head of Accounting Operations at Gresham, responsible for Gresham’s database, portfolio accounting software, investor accounting software and performance reporting. Scott joined Gresham in February 2013 and prior to that he worked at J.P. Morgan Hedge Fund Services. Scott holds a B.S. in Finance and Entrepreneurship from Northeastern University and a M.S. in Quantitative Methods and Modeling from Baruch College.
Leo held the position of Chief Investment Officer and was Irene’s co-Managing Partner at Devet Capital. Prior to co-founding Devet, he was a Portfolio Manager and emerging markets bond and currency trader at GLG Partners. Previously, he had been a structurer in Barclays’ commodities derivatives business, after having worked in equity structured products, algorithmic trading, and interest rate derivatives at Banca Caboto. He co-authored “Pricing and hedging financial derivatives a guide for practitioners” with Irene, and has also guest lectured in Mathematics and Finance at Queen Mary University and Imperial College London. Leo holds a degree in Economics from Bocconi University in Milan.
Prior to joining Gresham, Irene was CEO and Managing Partner of Devet Capital, a boutique commodities-focused quant firm. Prior to co-founding Devet, she traded base metals at Noble Resources in Singapore after having worked in the Commodity Investor Structuring team at Barclays in London. She is the co-author of “Pricing and hedging financial derivatives: a guide for practitioners” (Wiley, 2013), and has been a guest lecturer in Mathematics and Finance at Queen Mary University and at Imperial College London. Irene holds an MBA from IESE Barcelona, a degree in Computer Science Engineering from her home University in Uruguay, and studied finance at the University of Chicago Booth School of Business.
With 8 years of experience in derivative trading, data science and quantitative strategies, Jeremy Eyraud is a senior Quant Researcher and Developer at Gresham Investment Management LLC. After 3 years as a cross-asset derivative trader with a strong focus on interest rate option market making, Jeremy shifted his career to more technology and quantitative roles centered around software development for systematic trading. He started his career in large banks (Credit Agricole, Commerzbank, Citibank) before joining the world of hedge funds and fintech. Jeremy holds a double diploma of the French Grandes Ecoles from Ecole Nationale Supérieure of Computer Science and Applied Mathematics (Ensimag) and Masters in Quantitative Finance from Grenoble Institute of Technology.
Alexandra Sandu is a Quantitative Developer at Gresham Investment Management LLC, where she is responsible for the development and support of the underlying trading and risk models, as well as the firm’s technology infrastructure. Prior to Gresham, Alexandra worked for over three years within the Core Platform group at Bank of America Merrill Lynch where she worked on improving the bank's core trading platform as well as developing new data pipelines for front-office researchers and quants, and was promoted to Assistant Vice President. Alexandra holds a Bachelor’s degree in Management and Computer Science with Highest Honors from UCL and has obtained Dean's List Award for outstanding academic performance.
Rob has significant experience of the global macroeconomic landscape having begun his investment career at Schroder Investment Management in London in 1998. There he occupied trading roles in foreign exchange, interest rates, and emerging market debt before co-developing, and lead managing, the Schroder Alternative Solutions Commodity Fund in 2005, and later the Schroder Commodity LP Fund. Rob was Head of Commodities at Schroders between January 2010 and his departure from the firm in March 2014.
More recently, Rob occupied a Senior Manager position at the Public-School Employees’ Retirement System (‘PSERS’) in Harrisburg, Pennsylvania, where he formulated investment policy for commodities and tactical market strategies. He was also a member of the System’s Asset Allocation Committee. Rob holds a BA. in History and English, awarded with first-class honors, from the New College of the Humanities in London.
John is the executing trader for the GDCS and a quantitative Research Analyst in Gresham’s NTA division. He graduated from Carnegie Mellon University with a BS in Mathematics, with a focus in Computational Finance and Computer Science. After finishing his undergraduate degree, he went on to earn his MS in Computational Finance from Rutgers University. John began an internship with Gresham Investment Management’s research department in May of 2010 and started full time in January 2011 after completing his MS.
Prabhu Ramachandran is a Senior Quantitative Analyst at Gresham and is responsible for research and quantitative analysis of asset allocation strategies. Prior to joining Gresham, he was a member of the equities option trading group at UBS AG since 2005. Prabhu is a CFA Charterholder and received his M.S. in Financial Mathematics from the University of Chicago in 2010.
Rod Roche is in his nineteenth year of a career spent exclusively analyzing agricultural markets. Rod is an expert in the fundamental analyses of a wide range of agricultural markets, and also integrates quantitative, technical, and sentiment analyses of each market into his research. He also has a passion for developing automated and systematic trading systems for commodity futures and has written training courses on systematic trading and position sizing for a range of clients, including private banks.
Rod worked with Rob Howell at Schroders between 2005 and 2014 on the SAS Commodity Strategy (and later the Schroder Commodity LP Fund) where he assumed responsibility for all agricultural risk. He was appointed Head of Commodity Research at Schroders in 2014 and managed a team of three analysts until his departure from the firm in March 2019.
Rod now lives and works in France and as an independent agricultural research analyst.
Prabhu Ramachandran is a Senior Quantitative Analyst at Gresham. He is responsible for research and quantitative analysis of asset allocation strategies. Prior to joining Gresham, he was a member of the equities option trading group at UBS AG since 2005. He is a CFA charterholder and received his M.S. in Financial Mathematics from the University of Chicago in 2010.