Seth Merrin, the founder and former chairman and CEO of buy-side trading network Liquidnet, has joined Neuravest Research as its executive chairman.
The US-based startup, formerly known as Lucena Research, provides AI-based portfolio construction tools.
The appointment comes a week after Merrin announced his departure from Liquidnet, the firm he founded in 1999 and helped build into a major trading venue and dark pool operator for fund managers and institutional investors with more than 1,000 buy-side users.
One of his last roles at Liquidnet was orchestrating its move into AI-based investment decision support.
Merrin’s departure coincided with the completed takeover of Liquidnet by interdealer broker TP ICAP in a deal which could cost up to $725 million including additional performance-related payments.
Merrin also founded Merrin Financial in 1985, which is credited with launching the first electronic order management system for asset managers.
In addition to his role as executive chairman, Merrin is also a lead investor in Neuravest.
“The ability to quickly discern among the massive amounts of predictive and non-predictive data provides an enormous competitive advantage that grows with every new value-added data set,” said Merrin.
“The amount of data available continues to accelerate and the technology to process, learn, and analyse it for predictive qualities continues to grow exponentially. Unfortunately, you can’t really say that about human beings,” he added.
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