US investment bank JP Morgan has hired a machine learning expert to deploy the technology across its investable indices business, The TRADE has learnt.
Fredrik Giertz has been appointed vice president in equity derivatives structuring at JP Morgan, having joined the bank last month in the newly-created role. A spokesperson at JP Morgan confirmed the appointment.
Based within the investable index division at JP Morgan in London, Giertz will focus on growing and developing quantitative strategies that use machine learning techniques for the investment bank. He has several years’ experience in managing quantitative strategies, from alternative risk to more advanced strategies using machine learning technology.
Giertz joined JP Morgan from the Third Swedish National Pension Fund (AP3), where he has worked since 2010 in various roles including as a risk analyst, quantitative analyst, and most recently senior manager of quantitative strategies in Stockholm.
The latest appointment at JP Morgan follows the bank’s recent efforts to increase its adoption and development of machine learning capabilities. Earlier this year, JP Morgan launched a London-based research centre to explore how the technology can be applied to trading processes.
JP Morgan hired Chak Wong to lead the new team of machine learning engineers, technologists and data engineers and product managers as part of the new Machine Learning Centre of Excellence.
Wong was previously a professor at the Hong Kong University of Science and Technology, where he taught Masters and PhD level courses on AI and derivatives. He was also a senior quant trader at Morgan Stanley and Goldman Sachs in London.
The investment bank said last year it would also look to increase its use of machine learning for FX algorithmic trading, having launched Deep Neural Network for Algo Execution. The tool uses the technology to bundle existing algos into a single execution strategy. JP Morgan also made a strategic investment in machine learning FinTech Limeglass, which uses the latest technology to analyse institutional research.