AlphaTrAI, a San Diego-based firm that uses artificial intelligence technology to create investment strategies for clients, today announced staff changes to launch a new growth phase for the firm.
"Our announcement is a major step toward integrating the latest advances in artificial intelligence to fundamentally transform the quality of financial products and services while lowering the cost of such solutions," said Bill Dwyer, AlphaTrAI's CEO and chairman, in a statement. Its new appointments will build out the firm’s leadership team.
Dwyer was once the president of LPL Financial before he took over the helm of AlphaTrAI, a venture-capital-backed firm. The firm’s AI-enabled automated trading platform incorporates an orchestrated set of strategies that continually monitor and forecast clients’ risk-reward balance, and makes dynamic adjustments to optimize their performance under diverse market conditions.
The firm's asset management division develops AI-driven investment products for family offices, RIA firms and institutional asset managers, while its Solutions Services Group provides problem-solving consulting to institutional participants.
AlphaTrAI is now adding Anjun Zhou as chief investment officer, while technology entrepreneur and executive José Pierre will join as chief solutions officer. Additionally, the fintech firm reported that asset management industry leader Richard Goldman has joined its board of directors to provide the strategic guidance.
A 23-year financial services veteran, Zhou was previously a managing director and global head of multi-asset and factor research at Mellon Capital. In that role, she was responsible for research, development and implementation of more than $200 billion in quantitative strategies and investment solutions and worked on the firm's exploration of AI and machine-learning applications.
"With AI as the core engine of our investment strategies, we aim to exploit market inefficiencies from novel angles," Zhou said in a statement. "AI is part of our daily lives, and applying its capabilities to investment management is a natural evolution that, if done right, can revolutionize the industry. While some quant firms may use AI to enhance their factor-based models, our design is fundamentally different. Powered with leading-edge technology, market data and alternative data, we can deliver innovative and effective investment products and solutions to institutional, wealth and retail clients."
In his new role as chief solutions officer, Pierre will be responsible for product innovation and strategy development and help the firm use the latest AI technologies to help clients optimize their operations and drive growth, the firm said. He will lead the development of new products and services—by developing go-to-market strategies, identifying new business opportunities and building strong relationships with firm clients to better understand their needs and challenges.
Pierre previously served as founder and CEO of Marketware International, a technology consulting firm and provider of online brokerage applications for the wealth management industry, and he was the creator of webBroker, one of the first retail online brokerage products.
"AlphaTrAI is taking the fusion of artificial intelligence and financial services to the next level,” Pierre said in a statement. “AI is transforming the way businesses operate, and I believe that AlphaTrAI is uniquely positioned to deliver cutting-edge solutions that will help our clients thrive in today's complex and rapidly evolving business environment.”
Goldman, meanwhile, has served as CEO of Rydex Investments and chief operating officer at Guggenheim Investments. He’s also held leadership positions at Deutsche Asset Management, State Street Global Advisors and Forstmann-Leff Associates.
According to Dwyer, "Attempts to bring data science into the investment process always come up against the same challenge: finding veteran investment industry leadership equally adept with technology, or identifying a tech wizard with expertise and knowledge in managing money. We are reimagining how to approach seamlessly integrating asset management and AI by combining these areas of specialization with an adaptive platform to deliver an end-to-end AI-powered experience."