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.
