Since 2009, Gladius Capital Management has been building a reputation on delivering practical solutions to material problems.
Driven by Founder and CEO Pav Sethi, Gladius has created its own path, bringing tailored, bespoke derivatives-based strategy solutions to clients and investors.
And by entering the ETF market with Wayfinder, a new chapter begins.
We’ve been managing portfolios for decades, helping clients find their way.
Wayfinder uses our vast market knowledge so all you have to do is plug in.
Wayfinder is made for everyone. Anyone can enter the market.
In the investment world, knowledge is power. Success comes from harnessing that power.
Leads the firm’s development of innovative convexity and risk-mitigation strategies for institutional and retail investors alike.
Pav Sethi is the founder and Chief Investment Officer of Gladius Capital Management, an asset-management firm focusing on derivative strategies and products for institutional clients. Prior to founding Gladius, Mr. Sethi was a Managing Director at Citadel serving as the Global Head of the Volatility Arbitrage Group. He was previously a Portfolio Manager in the Volatility Arbitrage Strategy at J.D. Capital Management and began his career at Morgan Stanley in Europe as an equity derivatives trader.
Mr. Sethi has pioneered a number of novel derivative structures and engaged in multiple landmark transactions. His focus most recently has been on structuring large scale derivatives programs as tools for portfolio allocation and optimization for some of the largest pension and endowment plans in the United States. Previously, Mr. Sethi engaged in some of the earliest risk syndication programs during the early 2002 period and completed some of the first complex volatility-based transactions between hedge funds and investment banks.
Pav holds a bachelor’s degree in chemistry from Cornell University and a master’s degree in mathematics from the University of Chicago. He is a Fellow of the 2017 class of the Aspen Finance Leaders Fellowship and a member of the Aspen Global Leadership Network. Pav received the Lifetime Achievement award in 2019 from EQDerivatives for his contributions to the industry.
Manages the firm’s operations and works closely with the investment team to design and structure investment vehicles and alternatives product solutions
Eric Magac serves as the Chief Operating Officer (“COO”). Mr. Magac is responsible for overseeing all aspects of operations and fund accounting. He manages the firm’s relationships with prime brokers, custodians, administrators, legal firms and other third-party vendors. He also works closely with the investment management team in designing and structuring investment vehicles for both institutional solutions and alternatives products.
Prior to joining Gladius, Mr. Magac was an Executive Director at Morgan Stanley, most recently serving as a senior salesperson in the Equity Derivatives group, which he joined in 2006. During his time on the desk, he led a team focused on developing innovative volatility products and played a key role in expanding Morgan Stanley’s U.S. volatility strategy. Mr. Magac began his tenure at Morgan Stanley in 1999 as a member of the International Convertibles Desk. He spent two years in London covering pan-European clients before relocating to New York to expand the business for U.S. institutional clients. From 1995 to 1997, Mr. Magac worked at Société Générale in the International Banking Group, where he focused on corporate finance solutions for large-cap companies. His responsibilities included in-depth financial analysis and presenting transactions to internal credit committees for approval.
Mr. Magac started his career in finance in 1993 at Chase Manhattan Bank in the International Capital Markets Group. He completed the firm’s rigorous credit training program, which included intensive coursework in accounting and financial analysis, forming the foundation of his analytical expertise.
Mr. Magac holds a bachelor’s degree from Amherst College, where he graduated cum laude with a double major in Economics and French and a master’s in business administration with a concentration in finance from the Kellogg School of Management at Northwestern University.
Oversees market risk profiles and develops risk frameworks to ensure strategies are commensurate with their stated mandates.
Reagan Ammann has been Gladius’ Chief Risk Officer since its inception. He is responsible for overseeing the market risk profiles of Gladius’ portfolios, ensuring that they are commensurate with their stated risk mandates. Additionally, he is the architect of Gladius’ risk framework, adopting and extending metrics common in the industry to better reflect the specific risks present in Gladius’s complex derivative portfolios.
Prior to joining Gladius, Mr. Ammann spent almost 10 years with UBS as a senior derivatives trader. Most recently he worked in London and was responsible for the mutual fund-linked structured products business, the non-linear hedge fund derivatives book, and the “alternative beta” product suite. This collection of responsibilities provided extensive experience in managing multi-asset class risk exposures embedded within complex exotic derivatives. This role entailed risk managing for direct single manager fund investments which involved upfront and ongoing investment and operational due diligence.
Earlier in his career at UBS, he worked in the U.S. structuring, pricing, and risk managing an exotic derivatives trading book. He was also actively involved in the flow derivatives business, developed analytic tools used by the entire trading desk, co-managed a proprietary trading book, and was fundamentally involved in the launch of the variance swap business.
Mr. Ammann holds a bachelor’s degree in aerospace engineering sciences from the University of Colorado at Boulder and a master’s degree in mathematics from the University of Chicago.