MDOTM, the Italian subadvisor that develops AI-driven strategies and quantitative models for institutional investors, has appointed industry veteran Axel Maier as global business development strategist in a move aimed at accelerating the firm's international expansion.
Maier, who will be based in London, has 24 years of experience in the asset management industry, gained over the course of the years at asset management firms such as Macquarie Investment Management, where he was head of the Asian business in Hong Kong, and Wellington Management. At the latter, and working from London and Singapore, he covered Asia, Europe and the Middle East.
Maier had also held board positions for regulated business in Germany, Korea, Japan and Hong Kong and his experience includes setting up, developing and executing business development and team build-out strategies in Asia and Europe as well as acquisitions of asset management companies.
Maier’s experience and know-how will be pivotal to strengthen our presence in Europe and to further support the international scale-up."
According to MDOTM, Maier's knowledge of the asset management industry will be key in speeding up their international scale-up which, after the 2018 series A funding, managed a rapid expansion in Europe.
Axel Maier said: "MDOTM brings a new perspective and drive to the asset management market. It makes AI understandable and makes the usual "black box" transparent for its clients. The creative energy and dedication of the team is captivating and I look forward to helping channeling this to the benefits of our clients."
Tommaso Migliore, CEO and co-founder of MDOTM said: "I'm really glad that such an experienced professional joined us, fully embracing our values and our mission of supporting institutional investors with our AI solutions.
"2020 will be crucial for our growth. Maier's experience and know-how will be pivotal to strengthen our presence in Europe and to further support the international scale-up."
In October last year, MDOTM announced it had raised €2m from the closure of its first funding round from a combination of institutional and private investors to finance its international scale-up.
The company opened its London office in 2015, which was followed by the discovery of its first client, an institutional investor based in London with offices in Switzerland, who wanted to try the company's model and fed it with €1m.
During a trip to London last year, Migliore told InvestmentEurope: "During those two years, we started getting some revenues and at the end of 2017, we were selected by Google to join their Google for Entrepreneurs programme, a worldwide acceleration scheme for start-ups."
Migliore also revealed that Spain, Germany and the US were some of the countries the company was eyeing with greater interest.
MDOTM's team is made up of around twenty people, who are scattered across London, Milan, and Zurich. Reflecting the firm's approach - which is rooted in science - the team is primarily composed of researchers and analysts with backgrounds ranging from finance and statistics, to computer science and structure of matter physics.