Hedge Fund Systematica Taps a New Type of Whiz to Wrangle Data
- Leda Braga’s firm hired engineers to profit from new data sets
- Firms face cost squeeze even as AI boosts productivity
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As a quant, hedge fund manager Leda Braga hired her first Ph.D. in artificial intelligence back in 2008 to build out computer-led trading strategies. Lately, she’s needed a new type of computer scientist.
In the past two years, the $15 billion money manager has recruited a team of “feature engineers” to examine an ever-growing slew of data that the firm has hoovered up for hints of where its traders can find profit.