JOB POSTING: Portable Alpha Project Manager / Vice President
Sep 18th, 2006 | Filed under: Portable Alpha & Alpha/Beta SeparationLocation: Philadelphia, USA
Company: “Prestigious national investment firm” *
Job Posted/Updated: September 18, 2006
Following Citigroup’s lead (see posting: Citigroup hires new COO of portable alpha), this un-named firm has taken the progressive step of seeking a portable alpha czar. Judging from the job description (excerpt below), this firm recognizes the unique, interdisciplinary skill-set required to coordinate the various elements of a (new?) business line such as this. This marks the continuing maturation of portable alpha from a fringe ideology confined to “hedgies” to an important part of a mainstream investment management value proposition.
Excerpt:
“- Research and development: Support research, design, implementation, monitoring of portable alpha products.
- Marketing and client servicing: Support aspects of new business development, including lead generation and management, pitchbook development, and provide ongoing feedback and services to existing clients.
- Product design and development: Assist in design/development of derivatives-based products.
- Overlay construction and management: Develop overlay construction and rebalancing processes for clients.
- Infrastructure development: Assist with the development of processes, analytical methods and software to estimate, monitor and adjust for various risks embedded in overlays and underlying alpha engines.”
* Note: An identical posting on monster.com for the same job in the Philadelphia area is posted by Morgan Stanley, suggesting – and I’m no rocket scientist here - that the folks at Morgan Stanley are casting a wide net on this one. (Sort of reminds Alpha Male of the way Roy Disney surreptitiously bought Florida swamp land under various names to throw off the competition in the 1960’s…could Morgan Stanely be secretly amassing a portable alpha juggernaut? Stay tuned.)
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