Essentia Analyticstoday announces the appointment of Peter Clarke, former CEO of Man Group, and Charles D. Ellis, Founder of Greenwich Associates and noted investment writer, to its Board of Directors.
Peter Clarke qualified as a solicitor in 1985 before moving into banking with Morgan Grenfell and CitiBank. He joined Man Group in 1993, working in Corporate Finance and becoming CFO in 1999 and then CEO in 2007. Retiring in 2013, he is currently: Chairman of the National Teaching Awards Trust; Non-Executive Director of AXA Investment Management SA and Chairman of their UK Boards; Non-Executive Director of Lombard Odier Investment Management; and Non-Executive Director of Lancashire Holdings Insurance.
On his appointment, Clarke comments: “The investment management industry has a real need for what Essentia Analytics is offering. In order for human fund managers to justify their value add, they must prove they are continuously improving investment skill. With Essentia’s software, it’s now possible for portfolio managers to get an accurate picture of their decision making and its context, so they can maximise returns and remain truly active in the investment process.
“Essentia’s technology helps investors retain their human advantage, and I believeit has a very bright future. I look forward to embarking on a long and productive relationship with Essentia Analytics, and working with such a high quality team of scientists, technologists and investment management industry experts,” he continues.
Charles D. Ellis is an investment consultant and writer who is known for his philosophy of investing through index funds; his book “Winning the Loser’s Game” has sold over a million copies.
Ellis was the Founder of Greenwich Associates, an international strategic consulting firm focused on financial institutions, where he served as Managing Partner for 30 years. He has been appointed to the faculties of both Harvard Business School and the Yale School of Management, has served on the Board of Directors at Harvard Business School, chaired Yale University’s investment committee, and has served as Finance Chair for Robert Wood Johnson Foundation and as Chairman of the Board of the Institute of Chartered Financial Analysts. He has served as a Director of the Vanguard Group, and now chairs the Whitehead Institute for Biomedical Research and sits on the Advisory Board of Wealthfront, as well as several other companies. Ellis has won numerous honours, including being one of only twelve individuals to receive recognition from the CFA Institute for his lifetime contribution to the investment management profession.
Ellis comments: “Winning in today’s increasingly competitive markets requires each investor and every firm to operate at their very best. Just as in the world of sports, the top competitors are always searching for ways to be even better, the best investors are all looking for ways to improve because small gains can make the difference.”
“Essentia’s technology enables exactly that, by helping skilful investors apply the insights of behavioural finance principles to the real world of investment decision-making.While the broad market is increasingly embracing index funds, the best fund managers can and should go the other way and ‘double down’ on their skills.Indeed, top fund managers should be using technology to raise their games in this way and create for themselves what competitors might call an “unfair competitive advantage.”
I’m proud to be joining Essentiaat such an exciting stage – the work they are doing has the power to transform the standard of excellence in the industry,” Ellis continues.
The appointments come as Essentia Analytics expands its global reach to include operations in Singapore as well as New York, and follow a number of recent awards from CIO Magazine, the Hedge Fund Journal and WatersTechnology. Essentia was also selected to join the Mayor of London on his FinTech delegation to Boston and New York in February, and was named one of Europe’s 15 most innovative finance start-ups by Business Insider.
Essentia’s CEO and founder Clare Flynn Levy comments: “I am honoured to welcome Peter and Charley to our board. Both are renowned and widely respected leaders in the field of investment, who will bring decades of experience as well as their distinct perspectives on the industry to Essentia. It’s hugely exciting to see such noted figures becoming involved in the London FinTech scene, and in the application of behavioural finance to the investment management industry.”