AQR Capital Management said it would hire
nearly 150 highly skilled tech professionals including data scientists and
quantitative engineers in Bengaluru over the next
couple of years.
The US-headquartered firm, which manages
multiple client-focused portfolios and invests in public equity and other
instruments globally, looks to strengthen its portfolio management using the
technology innovation in Bengaluru.
AQR’s assets under management stood at $226
billion as on September 30.
The company announced the launch of its
engineering centre and said: “the
Bengaluru team will collaborate closely with its US engineering group on the
development of technology central to AQR’s research, portfolio management and
trading systems”.
The Bengaluru office will be led by Chrys
Kattirisetti, India Country Head, AQR.
While it will hire nearly 15 people over the
next two months of this year; AQR will
ramp up hiring early next year.
“We will be hiring from Indian Institute of
Technology next year onwards. 40% of the total hire would be freshers. We
believe engaging Bangalore’s top technology talent will fuel our ability to
further develop the cutting-edge technology that underpins our investment
processes,” said Neal Pawar, chief technology officer, AQR.
The company said its Bengaluru team would focus
on developing and enhancing solutions primarily on a cloud-based platform,
including trading systems, data and visualization tools, portfolio analytics,
and micro-services to support a variety of front office platforms.
AQR will conduct specific
coding tests to figure out the strength of professionals and expects the
prospective employees to be hands-on in such areas.
Pawar said 10-15% of its technology work is
outsourced to a Pune-based Indian IT services company, but the team at
Bengaluru office would focus on proprietary technology development.
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