Ativo Capital

Rigorous Thinking


Financial and economic commentary reflecting Ativo’s world view:

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Brian Burda, CFA®

Wednesday, November 13, 2019

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Brian joined the firm in 2019. He is responsible for assisting in the development of new systematic factors, exploring the use of additional data sets and providing analytical support to the investment and research team. Prior to joining Ativo, Brian held positions in quantitative research for Charles Schwab and Co., HOLT Value Associates, ABN AMRO Asset Management and BMO/Harris Investment Management. He has an undergraduate degree in Economics as well as an MBA in Finance from the University of Chicago. Brian is a CFA® charterholder and a member of the CFA Institute, the CFA Society of Chicago and the…

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Fan Bai, CFA®, CAIA®

Wednesday, February 20, 2019

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Fan joined Ativo in 2018. He is responsible for conducting research related to portfolio optimization, risk management and portfolio implementation, as well as providing analytical support to the investment and research team to enhance existing the research framework. Prior to joining Ativo, Fan was a Vice President at MSCI and responsible for assisting institutional asset management clients with portfolio construction and risk management needs. Fan graduated with distinction from University of Toronto with a bachelor’s degree in Commerce as well as a master’s degree in Financial Economics. He is a CFA® charterholder, and a CAIA® charterholder.

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Jeremy Wojcik

Thursday, September 7, 2017

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Jeremy is responsible for supporting and producing reports for the investment team. He also manages strategy-specific information within pitchbooks, factsheets and RFPs. Prior to joining Ativo in 2017, he worked as a Google Street View trusted account manager at LCP360. Jeremy holds a bachelor’s degree in Information and Decision Sciences with a concentration in Management Information Systems and a minor in Business Analytics from University of Illinois at Chicago. He also passed Level I of the CFA ®program.

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Athang K. Mistry

Wednesday, July 15, 2015

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Athang supports the investment team by ensuring the accuracy of worldwide company financial data received from multiple data vendors. He is also responsible for creating and updating portfolio attribution reports. Athang holds a bachelor’s degree in Finance and Management, as well as an MBA from Dominican University. He was hired by Ativo as an intern in 2013, while completing his master’s degree, and became a full-time employee after two years.

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Adan Galvan, CFA®, FRM®

Wednesday, December 11, 2013

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Adan is a senior portfolio manager at Ativo. He joined the firm in 2006.  In addition, Adan is our head trader and, as such, has responsibility for all trading activity for the firm. Adan is a member of the CFA Society of Chicago’s Social Advisory Group. He has an undergraduate degree in Psychology from Rice University and an MBA in Finance from Loyola University.  Adan is a CFA® charter holder and Certified FRM®.

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Ram G. Gandikota

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Ram is a senior portfolio manager at Ativo. He joined the firm in 2005. Ram is also our director of research, working to continuously enhance the firm’s proprietary alpha model. Ram is involved in quantitative modeling, factor research, and overseeing our risk management framework. He holds a master’s degree in Financial Markets from the Illinois Institute of Technology (IIT) and a bachelor’s degree in Computer Science & Engineering from JNTU, India. Ram is on the Board of Advisors of the investment club at IIT’s Stuart School of Business and co-chairs the school’s alumni organization.

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Ricardo Bekin

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Ricardo has over 25 years of financial and investment management experience. He led Callard, Madden & Associates through the creation of their asset management firm, which ultimately became Ativo Capital Management, LLC. He oversees all investment management activities at Ativo. Ricardo is responsible for establishing processes and procedures for stock valuation, financial modeling, and portfolio construction. Prior to founding Ativo, Ricardo held positions for financial institutions in Brazil and the United States, including Credit Lyonnais, Dorchester Capital and our predecessor firm, Callard, Madden & Associates. He serves on the Boards of Directors of New America Alliance, Inc. and NewbergerHillel…

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