Leda Braga
The Pioneer
The frontier and an appetite for the unknown, goes first.
Leda Braga embodies the Pioneer archetype throughout this interview. She recounts building systematic trading capabilities at Bluecrest from scratch with no prior quant investment experience, describing how her engineering and derivatives background led Systematica to do things differently from established trend followers. Braga consistently frames her leadership around building durable, replicable processes rather than chasing short-term performance, a distinction she calls a level above simply making money. Her willingness to challenge convention is evident in her cooperative, non-hierarchical research culture, her blended approach to trend following developed under adversity, and her confident assertion that the future of investment management is predominantly systematic. She steamrolled personal and professional obstacles alike, reflecting a founder-leader who builds entirely new frameworks rather than optimizing existing ones.
“I'm not satisfied with making money tomorrow. Our team needs to develop processes that make money on a non-going basis. That is a challenge.”
“We are the whitest of boxes. We are the ones that articulate. I always tell clients, look, we'll answer any question you want.”
“I've been saying for a while, I think the long-term future is the majority of investment management will be performed through a systematic means.”
Money Maze Podcast: “Why Quant is the Future – With Leda Braga, CEO & Founder of Systematica”
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