NU Online News Service, Aug. 13, 10:18 a.m. – American Express Financial Corp., Minneapolis, a unit of American Express Company, has acquired the assets of Dynamic Ideas L.L.C., Cambridge, Mass., a quantitative portfolio management firm.
American Express will use Dynamic Ideas to help manage its retail mutual funds, separate account operations and institutional money-management operations, the company says.
The price of the deal and other terms were not immediately available.
Four of the well-known financial experts at Dynamic Ideas have agreed to become American Express employees. The employees are Gina Mourtzinou, Steve Kokkotos, George Vetoulis and Thurston Towle.
Another Dynamic Ideas expert, Dimitris Bertsimas, a senior partner, will work as a consultant to American Express while continuing to teach at the Massachusetts Institute of Technology.