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The 2015 All-Europe Research Team: Quantitative Research, No. 3: Khuram Chaudhry, Dubravko Lakos-Bujas & team
J.P. Morgan Cazenove’s European quantitative research team tumbles from first place to third.
Total appearances: 12
Team debut: 1986
J.P. Morgan Cazenove’s European quantitative research team tumbles from first place to third. The four-strong group has been under the leadership of newcomerDubravko Lakos-Bujas, who works out of New York, and London-basedKhuram Chaudhrysince the January 2014 departure of Marco Dion, who became head of the firm’s central risk book trading desk. The volatility backdrop, including stock dispersion and pair-wise correlation levels, is an important topic for this group, “as it can provide a good indication of how much opportunity there is for stock-selection strategies to generate alpha,” says Lakos-Bujas. “Smart [or] alternative beta and low-volatility investment approaches continue to see inflows and strong interest. We expect this trend to continue.” Chaudhry points out that the “economic and profit landscapes will dictate investment-style preferences, and changes in investor risk appetites will help to [clarify] the risk-return profile for the coming year.” To that end, the strategists are advising that “macro and profit revisions are slowing, and defensive style preferences generally offer a better risk-reward profile for investors,” he adds. Chaudhry joined J.P. Morgan Cazenove in May. He spent 15 years at Bank of America Merrill Lynch and Merrill Lynch, first as an equity market strategist and then as chief European quantitative strategist, leading BofA Merrill’s team to runner-up appearances four times, most recently in 2011. He graduated from the Imperial College of Science, Technology and Medicine with an honors bachelor’s degree in business mathematics and statistics. Co-captain Lakos-Bujas earned a bachelor’s degree in economics and mathematics from Wittenberg University in Ohio and is a master’s degree candidate in computational finance at New York’s Columbia University. He worked as a research analyst and portfolio manager in Deutsche Bank’s asset management division before joining J.P. Morgan Cazenove in 2010.