Bridgeway

The people who drive the process

Investment Management

John Montgomery

John Montgomery

Founder and CIO

John founded Bridgeway Capital Management in 1993 and is the Chief Investment Officer. John is part of the investment team for all Bridgeway strategies. His responsibilities include portfolio management, research, risk oversight and mentoring.

John holds a B.S. in Engineering and a B.A. in Philosophy from Swarthmore College and graduate degrees from MIT and Harvard Business School. He worked with computer modeling and statistical methods as a research engineer at MIT in the late 1970s. Later, as a student at Harvard, he investigated methods to apply modeling to portfolio management and began applying these methods to his own investments in 1985. John left the transportation industry in 1991 to perform full-time research on his investment models, study the mutual fund industry, and write a business plan for Bridgeway. John serves as the board chair for Aegis Trust and works with the Bridgeway Foundation.

Elena Khoziaeva, CFA

Elena Khoziaeva, CFA

Head of US Equity

Elena began working at Bridgeway in 1998 and is a portfolio manager and the team leader for the investment management team.  Her responsibilities include portfolio management, investment research, and statistical modeling as well as leading and deploying team resources.

She earned an M.B.A. in Accounting from the University of Houston, where she graduated with highest honors, and a B.E.S. from the Belarusian State Economic University. Elena is a CFA charterholder.

Jacob Pozharny, Ph.D.

Jacob Pozharny, Ph.D.

Head of International Equity

Jacob Pozharny, Ph.D., leads Bridgeway's international investing efforts. In this role, Pozharny works with the Bridgeway team to drive the development of international and global quantitative equity and alternative strategies and contributes to US strategies.  He also supports client relationship efforts, while enhancing Bridgeway’s presence as a thought leader. He has 25 years of demonstrated success in developing institutional client solutions with consistent and scalable performance results. Jacob was formerly head of international equity research and portfolio management at QMA, a Prudential Global Investment Management (PGIM) company. There, he oversaw a quantitative equity investment platform spanning global, developed, and emerging separate accounts and commingled equity strategies. Previously, Jacob served as head of international quantitative equity at TIAA-CREF (now TIAA). He started his career at the Federal Reserve Bank of San Francisco in 1993, consulted at BCA Research in Montreal, and was an institutional equity portfolio manager at Nicholas-Applegate Capital Management before joining TIAA in 2001.

Jacob received his Ph.D. in Applied Statistics from the University of California, Riverside; an MS in Statistics from the University of California, Riverside; an MS in Finance from the University of California, Santa Cruz; and a BA in Economics, also from the University of California, Santa Cruz.

Andrew Berkin, Ph.D.

Andrew Berkin, Ph.D.

Head of Research

Andrew Berkin, Ph.D., is head of research and oversees the development and implementation of Bridgeway's statistically driven, evidence-based efforts. Andrew joined Bridgeway in 2013. Prior to joining Bridgeway, Andrew was co-chief investment officer and director of research for Vericimetry Advisors. He previously was a senior member and director of the quantitative research group at First Quadrant, where he spent 14 years in a variety of responsibilities, including the development and implementation of stock selection models in both taxable and tax-exempt portfolios primarily for institutions.

Andrew earned his Bachelor of Science with honors in physics from the California Institute of Technology and a Doctor of Philosophy in physics from the University of Texas, where he concentrated his studies in general relativity and astrophysics. Andrew also serves on the editorial board of the Financial Analysts Journal.

Richard P. Cancelmo, Jr.

Richard P. Cancelmo, Jr.

Head of Trading, Portfolio Manager

Dick leads portfolio management for the Managed Volatility Fund and leads the trading team for Bridgeway. He joined Bridgeway in 2000. Dick has over 30 years of investment industry experience, including five years with Cancelmo Capital Management and The West University Fund. Dick previously worked for Paine Webber, Rotan Mosle, and Casella Securities on the options floor at the Philadelphia Stock Exchange.

Dick holds a B.A. in American History from Washington and Lee University. He serves on the advisory board of Washington and Lee’s Shepherd Poverty Program, and is a director of The Shepherd Higher Education Consortium on Poverty. Dick is an active member of the West U Rotary Club and he is an Extraordinary Minister of Holy Communion to the homebound at St. Vincent de Paul Catholic Church.

Christine Wang, CFA, CPA

Christine Wang, CFA, CPA

Portfolio Manager

Christine’s responsibilities include portfolio management, investment research, and statistical modeling. Prior to joining Bridgeway, she worked in public accounting with a focus on energy trading and risk management.

Christine holds an M.S. in Accounting from the University of Virginia and a B.A. in Sociology and Managerial Studies from Rice University. She is a CFA charterholder, and she is licensed as a Certified Public Accountant in Texas. She participated in Bridgeway’s service trip to Peru, and on Bridgeway’s service trips to Honduras and El Salvador she helped build water wells with Living Water International.

Michael Whipple, CFA, FRM

Michael Whipple, CFA, FRM

Portfolio Manager

Michael is involved in portfolio management, investment research, and statistical modeling. He worked in public accounting, with a focus on auditing, before attending graduate school and joining Bridgeway in 2002.

He earned an M.B.A. from the University of Chicago’s Booth School of Business and holds a B.S. in Accountancy and Finance from Miami University in Ohio. Michael is a CFA charterholder and Financial Risk Manager. Michael supports the Fifth Ward Enrichment Program, Ligonier Ministries, and Reasonable Faith.

Amitabh Dugar, Ph.D., CPA

Amitabh Dugar, Ph.D., CPA

Research Analyst

Amitabh is responsible for investment research, risk management, and statistical modeling at Bridgeway. He is a skilled asset management professional with experience in quantitative investment research, investment strategy, and equity portfolio management. He has an extensive and progressive career in research and portfolio management with firms including BNP Paribas Asset Management, Mellon Capital Management, Geode Capital Management, Panagora Asset Management, and Grantham, Mayo, Van Otterloo.

Amitabh earned both his M.S. and Ph.D. degrees in Accounting and Information Systems from Northwestern University, and he is a CPA. Before entering the investment management profession, Amitabh was Assistant Professor of Accounting at Michigan State University and Northeastern University and most recently taught at Bentley University. Amitabh supports the Houston chapter of Akshay Patra, an organization committed to fighting issues like hunger and malnutrition in India’s government and government-aided schools so that children can focus on education.

Donald Chang

Donald Chang

Investment Systems Analyst

Donald responsibilities include the day-to-day operations of investment management technology at Bridgeway. Additionally, he is involved in increasing automation and enhancing efficiencies in Bridgeway’s statistical modeling process, risk analysis, and portfolio management. He previously worked at Quorum Business Solutions as the Product Architect where he guided development procedures and reviewed programming changes to the software solution.

Donald has a B.S. in Electrical Engineering from the University of Texas at Austin. He is a supporter of World Vision’s child sponsorship program and Plant with Purpose where they transform lives in rural areas with sustainable agriculture training, micro-financing, and leadership development. He also volunteered with Living Water International where he traveled to Nicaragua to help build a water-well for the local community.

Sri Lakshmanan, CFA

Sri Lakshmanan, CFA

Director of Investment Systems, Research Analyst

Sri is responsible for the day-to-day operations of Bridgeway’s investment management technology projects and programs. He is also further automating and improving efficiencies in Bridgeway’s statistical modeling process, risk analysis, and portfolio management. He worked for Koch Quantitative Trading before joining Bridgeway in 2009.

Sri graduated with Honors with a B.Tech. from the Indian Institute of Technology and is a CFA charterholder. He actively supports Pratham, a program that promotes childhood literacy in India and has helped educate over a million poor and disadvantaged children. He also supports the Tahirih Justice Center, which works to protect women and girls seeking justice against oppression and violence.

Kai Liu, CFA

Kai Liu, CFA

Research Analyst

Kai has been responsible for investment research, risk management, and statistical modeling at Bridgeway since 2011. He began his career in quantitative investing at Citadel Investment Group before joining Chicago Equity Partners in 2005.

Kai holds an M.S. in Financial Mathematics from the University of Chicago, an M.S. in Computer Science from Illinois Institute of Technology, and a B.S. in Computer Science from the University of Texas at Austin. He is a CFA charterholder. He volunteers with Living Water International, meeting the need to provide basic infrastructure for rural areas, and with the Prison Entrepreneurship Program, which reduces the prison recidivism rate.