The Investment Management Consultants Association last week presented Barr Rosenberg, chairman of AXA Rosenberg Group, with the Matthew R. McArthur Award for pioneering work in consulting.
The award recognized Mr. Rosenberg's contributions to consulting and investment management theory and technology as founder of the quantitative consulting firm BARRA.
In presenting the award, Michael J. Clowes, editorial director of Pensions & Investments, said Mr. Rosenberg was responsible for making the insights of Nobel Prize-winning economists Harry Markowitz and William Sharpe into useful tools for consultants, money managers and investors.
Frank Minard, chairman of XT Capital Partners LLC, New York, and a member of the award selection committee, said: "Barr's contribution to the industry in general, consulting in particular, and to the art and science of investment and financial technology is unsurpassed. He has provided the tools that paved the way for many of the capabilities and insights we now all enjoy, including such hot ideas as risk budgeting and portable alpha."
Mr. Rosenberg was a finance professor at the University of California at Berkeley when he founded BARRA in 1975. He founded Rosenberg Institutional Equity Management in 1985 and retired from BARRA soon after.
In 1999, AXA Investment Managers acquired Rosenberg Institutional Equity Management, renaming it AXA Rosenberg.Group LLC.