SELECTED BIOGRAPHIES of QFS's senior management are provided below.  The firm currently employs 35 professional staff. 

SANFORD J. GROSSMAN, PhD

  Chairman and Chief Executive Officer

Sanford J. Grossman earned his B.A. in 1973, M.A. in 1974 and PhD in 1975, all in Economics, from the University of Chicago.  Since receiving his doctorate, he has held academic appointments at Stanford University, the University of Chicago, Princeton University (as the John L. Weinberg Professor of Economics, 1985-89) and at the University of Pennsylvania’s Wharton School of Business.   At Wharton, Dr. Grossman held the position of Steinberg Trustee Professor of Finance from 1989 to 1999 (a title now held in Emeritus) and also served as the Director of the Wharton Center for Quantitative Finance (1994 – 1999).  

In addition, Dr. Grossman was an Economist with the Board of Governors of the Federal Reserve System (1977-78), and was a Public Director of the Chicago Board of Trade (1992-96).  In 1988, he was elected a Director, in 1992 served as Vice President, and in 1994 was President of the American Finance Association.

Dr. Grossman’s research has spanned the analysis of information in securities markets, corporate structure, property rights, and optimal dynamic risk management.  He has published widely in leading economic and business journals, including American Economic Review, Journal of Econometrics, Econometrica and Journal of Finance.  His papers include “The Existence of Futures Markets, Noisy Rational Expectations and Information Externalities”; “On the Efficiency of Competitive Stock Markets Where Traders Have Diverse Information”; “On the Impossibility of Informationally Efficient Markets,” with Joseph Stiglitz; “An Introduction to the Theory of Rational Expectations Under Asymmetric Information”; and “The Costs and Benefits of Ownership: A Theory of Vertical Integration,” with Oliver Hart.    

Dr. Grossman’s original contributions to economic research received official recognition when he was awarded the John Bates Clark Medal by the American Economic Association at its December 1987 annual meeting.  The Q-Group awarded him first prize in The Roger F. Murray Prize competition for the paper "An Analysis of the Implications for Stock and Future Price Volatility of Program Trading and Dynamic Hedging Strategies."  The Editorial Board of the Financial Analysts Journal awarded him the 1988 Graham and Dodd Scroll for "Program Trading and Market Volatility: A Report on Interday Relationships."  Dr. Grossman received a Mathematical Finance 1993 Best Paper Award for his article “Optimal Investment Strategies for Controlling Drawdowns.”  Dr. Grossman received the 1996 Leo Melamed Prize by the University of Chicago Graduate School of Business for outstanding scholarship by a professor.  In 2002, Dr. Grossman was recognized by the University of Chicago with its Professional Achievement Citation.  In 2009, he was awarded the CME Group-MSRI Prize in Innovative Quantitative Applications.

Currently, Dr. Grossman applies his rigorous scientific approach to improving and developing systematic investment strategies and risk controls for QFS.

ROBERT SHUSTAK

 President & CFO

Robert Shustak re-joined QFS as President in March 2008, and will oversee the firm's business operations and help lead QFS through its next phase of growth. Robert was President & COO of QFS’s predecessor entity (Quantitative Financial Strategies, Inc.) from 1999 through 2002, during which time he was instrumental in building and growing the firm’s infrastructure and personnel.

Robert's career has spanned over 25 years in the financial services industry. He has been Chief Operating Officer at Strategic Value Partners, Sandelman Partners and Post Advisory Group and was CFO of Long-Term Capital Management. Prior to these roles he was with Salomon Brothers Inc. for nine years in the Financial Division. He started his finance career with J. Henry Schroder Bank and Trust. 

Robert has a B.A. in accounting from Queens College.

JIM XIONG, PhD

 Managing Director, Research & Technology

Jim Xiong joined QFS in 1997 and was promoted to Manager of Research in 2001 and Managing Director in 2005. Jim works closely with Sanford Grossman in conducting QFS’s extensive research efforts and contributes strong expertise in global optimization, multivariate statistics, and object-oriented analysis and design. He currently leads a team of seven professionals, including 3 PhDs.

Prior to being employed at QFS, Jim developed financial applications for Salomon Brothers and also held the position of management scientist at General Electric's Center for Research and Development. Prior to that, he was a team leader at CAE Electronics (in Canada) responsible for developing energy management systems.

Jim earned his PhD in Mathematics from Rutgers University and his B.S. from Wuhan University.

THERESA
R. PATTI, 
CFA, FRM

 Managing Director, Senior Portfolio Strategist

Theresa Patti works closely with Sanford Grossman and Jim Xiong in monitoring and analyzing the risk and return characteristics of QFS’s investment strategies.  Theresa helps design customized managed accounts for clients and also participates in the development of the firm’s investment products incorporating new strategies.  Further, she is involved with QFS’s operations and accounting activities as well as internal technology projects, outlining system design and acting as liaison between end-users and technology staff.   She joined QFS in April 2001.

Between 1995 and 2001, Theresa worked for Rivel Research Group in the fields of investor relations consulting, financial marketing research and computer systems design and implementation.  In 1998 she was appointed as a member of Rivel's Executive Committee and was named Vice President in 2000. 

Theresa earned her B.S. in Business Administration/Marketing in 1995, summa cum laude, from Southern Connecticut State University. She earned the Chartered Financial Analyst (“CFA®”) charter in 2006 and the Financial Risk Manager (“FRM®”) designation in 2010.

JACK WEINER

 Managing Director

Jack Weiner joined QFS in April of 2008 as a Managing Director with business development responsibilities on a global basis.  In addition to spearheading the firm's outward bound marketing efforts, Jack works closely with the senior management of QFS in constructing and implementing the firm's marketing strategy.  

Prior to joining QFS, Jack most recently served as a Managing Director with Treesdale Partners, LLC, where he led the firm's business development efforts in non-US markets.  As a member of the firm's executive committee, he was involved with manager selection, portfolio construction and strategic planning. Prior to joining Treesdale, Jack served as a consultant for New American Financial Group, a boutique wealth management firm, where he advised clients on asset allocation, portfolio construction and risk mitigation.  He had previously spent 10 years as a fixed-income arbitrage trader, specializing in relative value relationships. In this capacity, he was responsible both for taking proprietary risk and managing customer flow while working for a number of multinational banks, including Deutsche Bank, Dresdner Bank and Daiwa Securities.  While trading for these firms, Jack held management positions in New York, London, Tokyo, Frankfurt and Hong Kong. Throughout his career, Jack has constructed various risk control models, pricing analytics and proprietary trading systems.  

He earned his B.A. in economics and political science at Duke University, graduating cum laude, and received an M.B.A. in finance from Columbia University, with highest honors.

JONATHAN SILBER

 Director of Trade Execution

Jonathan Silber has been the head of QFS’s trading department since April 1999. He came to QFS from Bankers Trust, where he spent over 10 years in various FX markets. His responsibilities there included managing FX trading desks, running one of Bankers Trust’s internal hedge funds and creating and overseeing the company’s internal fund of funds operation. 

Jon holds an M.B.A. in Finance from the NYU Stern School of Business.

DAVID L. ZIMMERMAN, ESQ.

 General Counsel

David Zimmerman joined QFS in early 2006 as its General Counsel & Chief Compliance Officer. 

Prior to joining QFS, David served for two years as the Chief Compliance Officer of Chilton Investment Company, which manages long/short equity hedge funds. Before joining Chilton, David was general counsel for LiveWire Capital, LLC, a private equity investment and management group focused on the technology sector. David’s earlier experience includes work on mergers and acquisitions and investment management at Davis Polk & Wardwell. 

He received his B.A. from Yale University and his J.D. from Columbia Law School (where he was a Harlan Fiske Stone Scholar).

 Senior Technologist

George Holt joined QFS in 2002 to develop and maintain proprietary trading applications while overseeing all aspects of technology at the firm. 

He is an expert in the area of multi-tier applications and currently holds two patents on automated data replication and caching techniques he developed. From 1998 to 2001 he served as Chief Technology Officer for two Internet start-ups, creating and administering the network infrastructure at each firm and managing staffs of up to twenty technologists. His prior experience includes software and program engineering for GE Aircraft Engines, where he led the development of a NASA-funded project and was awarded a GE Individual Achievement Award. 

George received his B.S. in Mechanical Engineering from Massachusetts Institute of Technology and is a graduate of the GE Engineering Development Program.

 Vice President of Operations and Administration

Mitchell Maresco joined QFS as its Manager of Operations in 2000.  In his current role as Vice President of Operations and Administration, Mr. Maresco manages operations, which includes trade confirmation/reconciliation, cash management, and custodial management as well as overseeing various administrative functions.  

Mr. Maresco has worked in the financial services industry for over twenty years, mainly in the operations and financial/managerial accounting departments of firms including Long-Term Capital Management, Salomon Brothers, Nikko Securities and Barclays Bank.  

Mitchell holds a BBA degree in Marketing from Iona College.