Goldman Sachs Asset Management Taps Turok For Quant Strategies

Aug 10 2016 | 10:54pm ET

Goldman Sachs Asset Management has hired former BlackRock executive Michael Turok as head of its quantitative investment strategies. 

Turok will be responsible for GSAM's quantitative investment team and will concentrate on building out robust data applications, natural language processing and machine-learning capabilities, according to an internal memo cited by both Bloomberg and Pensions & Investments. He will be based in New York and begin in the fourth quarter of this year. 

Prior to his new role, Turok was head of fixed-income quantitative portfolio strategies at global asset management behemoth BlackRock. He was with Goldman Sachs from 1997 to 2010, when he left to work with Tradeworx subsidiary Thesys Tecnology, according to his Turok’s LinkedIn profile, followed by stints at Belenos Capital Management and BofAML. He joined BlackRock in 2014. 

GSAM's quantitative investment strategies division manages approximately $80 billion, a tally that has doubled in the last five years as quant strategies have gained in popularity, according to Bloomberg. GSAM as a whole has around $1.3 trillion in assets, $118 billion of which is dedicated to alternative and liquid alternative strategies. 

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