A $6.9B Quant Shop's Founder Partially Passes the Baton
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Thursday, January 25, 2018

A $6.9B Quant Shop's Founder Partially Passes the Baton

The founder of a New England-based asset manager is keeping things in the family even as he partially passes the baton.

Yesterday O'Shaughnessy Asset Management [profile] (OSAM) founder Jim O'Shaughnessy (57) confirmed that his son, principal and PM Patrick O'Shaughnessy (32), is taking over as CEO of the Stamford, Connecticut-based quantiative equity shop. Jim O'Shaughnessy will remain chairman and chief investment officer, and both father and son will continue their PM duties, too.

P&I also reported on OSAM's leadership transition.

The CEO leadership transition period will go through the end of March, and director of research Chris Meredith and president Chris Loveless will remain in their roles and report to Patrick O'Shaughnessy.

"Patrick has enhanced our investment process, enriched our client service and opened new doors of opportunity for the firm," Jim O'Shaughnessy states. "Now, he will lead our team as we expand upon what we have spent decades building."

Looking ahead, Patrick O'Shaughnessy states that OSAM "will focus on further improving [its] investment strategies, delivering an extraordinary and unique client experience grounded in transparency and education — and identifying new ways to use our research platform to help our clients engineer better overall portfolios."

The younger O'Shaughnessy joined OSAM in 2007 after graduating from Notre Dame. In addition to his duties at OSAM, he also has a podcast, "Invest Like the Best."

Jim O'Shaughnessy and his team date back to 1996, and they spun out of Bear Stearns in 2007. Then in 2008 they bought back Bear's ten-percent stake in OSAM (from J.P. Morgan, which took over Bear during the financial crisis). Over the years OSAM has subadvised mutual funds for big firms like RBC and Van Kampen (now part of Invesco), and in 2010 OSAM launched its own mutual fund family. The firm also offers separate accounts and now has about $6.9 billion in AUM. Today RBC owns 10 percent of OSAM, while OSAM's own employees own 90 percent, including 71 percent by Patrick and O'Shaughnessy Family Partners.

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