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Mr. Borade will report to Allen Poteshman, Ph.D., Chief Investment Officer and Head of Statistical Arbitrage, assisting Mr. Poteshman in managing all aspects of the firm's statistical arbitrage system.

"With Shashi's appointment today, we continue to strengthen our quantitative investment team and demonstrate our ability to attract the very best professionals to Vatic," said James Chiu, Founder and Chief Executive Officer. "It's been exciting to grow our investment operations, adding exceptionally talented people and watching them work collaboratively to solve incredibly tough and interesting problems every day."

Mr. Borade brings 13 years of equity statistical arbitrage experience to Vatic. Prior to joining Vatic, Mr. Borade was a Portfolio Manager at Engineers Gate, where he led the design and implementation of a medium frequency research and trading system in global equities. Previously, he was a Vice President in the equity statistical arbitrage group at D.E. Shaw & Co., where he worked for seven years.

Mr. Borade has a Ph.D. and M.S. in Electrical Engineering and Computer Science from the Massachusetts Institute of Technology. He also has a B.Tech. in Electrical Engineering from the Indian Institute of Technology, Bombay.

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