This news article originally appeared on WealthManagerWeb.com on 3/18/2010.
1st Global Capital Corp has hired Dr. Harry M. Markowitz, recipient of the 1990 Nobel Memorial Prize in Economic Sciences, as an advisor to the investment committee of its Investment Management Solutions (IMS) and as a consultant to its Investment Management Research Group. Markowitz will advise 1st Global on several fronts, including asset allocation model development processes, innovations on risk and return measurement, and investment strategies, the firm said in a March 17 statement.
Markowitz won the Nobel Prize for his doctoral dissertation on Modern Portfolio Theory. He also received the Von Neumann Prize in Operations Research Theory for his work in portfolio theory, sparse matrix techniques and the SIMSCRIPT programming language.
Dallas-based 1st Global provides business-building systems, education programs and technology to CPA, tax and estate planning firms. Its IMS platform, which has $3.2 billion in assets under management, provides clients of its advisor affiliates a customized program of portfolios, access to asset managers, portfolio management automation and consolidated account performance reporting.