Cresset has hired Archan Basu as deputy chief investment officer and Paul Algreen as chief technology officer. Most recently, Basu was head of portfolio construction guidance for Fidelity Institutional Asset Management. And before Algreen joined Cresset, he was chief information officer at Janus Henderson Investors.
CHICAGO – Sept. 15, 2021 — To build upon its investment operations and digital-first, multi-family-office platform, Cresset announced today that it has hired Archan Basu as Deputy Chief Investment Officer, and Paul Algreen as Chief Technology Officer. With Cresset having grown to more than $15 billion in assets under management and 10 locations across the country in just four years, Basu and Algreen are charged with helping to sustain that growth trajectory through strategic investment and digital innovation.
As Deputy Chief Investment Officer for Cresset, Basu is responsible for overseeing the consistent and tailored implementation of investment views across client portfolios. He will support Jack Ablin, Cresset’s Chief Investment Officer, across the full range of investment activities from research to design, execution, and communication.
Most recently, as Head of Portfolio Construction Guidance for Fidelity Institutional Asset Management, Basu led a portfolio strategy team that assisted professional investors to develop better model portfolios. Previous to that role, he served as Global Head of Portfolio Construction for J.P. Morgan Private Bank, where he oversaw the application of strategic, tactical, and manager views across all discretionary investment accounts. Earlier he served as Director of Quantitative Research for Bernstein Global Wealth Management, and Director of Asset Allocation for AllianceBernstein (now known as AB Global). In his early career, Basu worked in quantitative research at Barra and Grantham, Mayo, Van Otterloo & Co. Across these roles, Basu honed both his quantitative analytical abilities in portfolio construction, as well as his ability to craft innovative investment solutions at scale.
Basu also co-founded and led two entrepreneurial ventures in wealth management: portfolio manufacturing pioneer LifeHarbor, now known as Vestmark; and planning-based wealth engine Path Matters.
Basu holds an AB in Applied Math and Computer Science from Harvard College, and an MBA from the MIT Sloan School of Management. He is also a Chartered Financial Analyst (CFA®).
“Cresset takes enormous pride in our investment platform, which offers access to both public markets and institutional-quality private investments, all through the lens of goals-based investing. Archan brings the experience and innovative thinking that will help us further refine and customize our investment offerings,” Ablin said.
In his role, Algreen will focus on expanding Cresset’s position as a digital innovator in financial services. He brings nearly 20 years of financial industry experience to his role at Cresset.
Algreen has held director and c-suite-level positions at various financial and investment firms, including technology leadership roles, investment roles, and digital transformation roles. Before joining Cresset, Algreen served as Chief Information Officer at Janus Henderson Investors, where he led the integration between Janus Capital Group and Henderson Global Investors and modernized the digital capabilities of the combined firm.
Prior to Janus, he was Chief Technology Officer and Managing Director for Markit Group, where he oversaw all technical aspects for the Markit Digital division. Algreen also spent more than 10 years as a trader, portfolio manager, and leader of the technology and analytics group for III Associates, a fixed income hedge fund.
Algreen holds a bachelor’s degree in Aeronautical and Astronautical Engineering from MIT, and a Pocket Executive MBA from Boston University School of Management. He is active in the community and volunteers for various boards, as well as the MIT Educational Council.
“Cresset was founded with digital innovation as a strategic pillar of the firm. Paul is exactly the person to build upon that vision and lead Cresset into the next phase of our digital transformation story,” said Randy Conte, Chief Operating Officer for Cresset.
Cresset is an independent, award-winning multi-family office and private investment firm with more than $15 billion in assets under management (as of 9/1/21). Cresset serves the unique needs of entrepreneurs, CEO founders, wealth creators, executives, and partners, as well as high-net-worth and multi-generational families. Our goal is to deliver a new paradigm for wealth management, giving you time to pursue what matters to you most.
Cresset offers access to a comprehensive suite of family office services, deeply personalized wealth management, investment advisory, planning, and other services through Cresset Asset Management, LLC. Cresset Partners, LLC, Cresset’s private investing group, offers clients direct access to institutional-quality real estate, private equity, private credit, and other investment opportunities. Cresset Asset Management, LLC, and Cresset Partners, LLC, are SEC registered investment advisors. To learn more, visit https://cressetcapital.com.