Our team

We are a diverse team with solid experience in investment management, statistical modeling, data science and risk. We have decades of systematic investment management experience in Brazil and abroad.

Marcello Paixão – Investment Management and Research on Risk Factors
  • Co-founder of Bayes CM in January/2020.
  • Pioneer in systematic investment management in Brazil since 2004.
  • Former partner at Constancia Investimentos until January/2020, where he brought the systematic factor models from Principia in 2014.
  • Developed the first systematic mandate for equity investments in Brazil, for a large public pension fund.
  • Co-founder of Principia CM in 2004, where he developed and managed high-frequency statistical arbitrage strategies (between 2004 and 2010), and equity risk factor trading strategies (between 2010 and 2014)
  • Former CIO of Maxblue by Deutsche Bank, first open financial platform (2001)
  • Worked with derivatives in the 1990s for Santander Bank (Madrid and NYC) and Merrill Lynch (NYC and São Paulo).

Marcello holds a MSc in Applied Mathematics from USP (Brazil), MBA in Finance from Columbia University and a BSc in Industrial Engineering from UFRJ (Brazil).

Denis Lee – Risk Management
  • Co-founder of Bayes CM in January/2020
  • Co-founder of Principia CM in 2004
  • Derivatives head trader at Merrill Lynch in NYC and São Paulo.

Denis holds a PhD in Bioengineering from Columbia University, MBA in Finance from Columbia University, and a BSc in Bioengineering from University of California (San Diego).

Helder Palaro – Investment Management and Research on Risk Factors
  • Co-founder of Bayes CM in January/2020.
  • Independent systematic trader between 2014 and 2020.
  • Developed a global adaptive risk parity strategy with global futures since 2018.
  • Developed and traded a volatility arbitrage strategy with options on futures, with realized Sharpe Ratio of 1.6 in the 2014-2018 period.
  • Developed a risk-distribution replication system, adopted by the AC Risk Parity family of funds from Aquila Capital, Hamburg, Germany.
  • Worked as a quantitative research analyst for AHL, Man Group, London, where he studied systematic strategies in the areas of volatility arbitrage and trend-following.

Helder holds a PhD in Finance from Cass Business School (London) and MSc and BSc degrees in statistic from Unicamp (Campinas, Brazil).

Lucas Santiago – Data Sciences and IT
  • Co-founder of Bayes CM in January/2020.
  • Worked on electronic systems for the pre-salt industry and the internet of  things, between 2016 and 2019.
  • Developed breaking systems for BMW in Germany between 2012 and 2015.

Lucas holds a MSc in Electronic Engineering from TH-Ingolstadt (Germany) and a BSc in Electrical Engineering from PUC (RJ, Brazil).

Luca Farah – Data Sciences and IT
  • Began working at Bayes CM in August 2021.

Luca holds a BSc in Computer Engineering from Insper (SP, Brazil).