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Guggenheim Partners transferring quantitative strategies unit to new business

Guggenheim Partners has agreed to transfer its quantitative investment strategies unit to Marcos Lopez de Prado.

Lopez de Prado built the business and its technology, assembling a team responsible for up to $13 billion in assets under management. The Guggenheim senior managing director is leaving the company to start his own business.

Lopez de Prado and Guggenheim have also agreed to amicably settle a dispute over the ownership of intellectual property, some of which was developed by the senior managing director while working for the company. The parties have agreed to mutually dismiss a lawsuit related to the issue.