Li Chang
Chief Executive Officer |
Before founding Recursion, Li Chang served as a senior ABS trader at Altum Capital Management, and previously traded CMBS at Paulson & Co. Her cross-asset experience was shaped by earlier roles at the proprietary trading desk at Bear Stearns, as head of financial engineering on the mortgage desk at Citadel, and as a quantitative researcher at Morningstar.
Li founded Recursion in New York as a fintech company that integrates finance, technology, and cloud-scale analytics. Within five years, she transformed Recursion into an indispensable data partner for Wall Street firms and government agencies. Li holds a Ph.D. in Mathematics from the University of Illinois at Chicago and a Bachelor of Architecture from Tsinghua University. She also serves as an Industry Expert in Residence at the Gabelli School of Business at Fordham University. |
Richard Koss
Chief Research Officer |
Richard Koss brings to Recursion a strong track record of business acumen and quantitative expertise. Prior to joining Recursion, he served as Head of Capital Markets Research at Fannie Mae and has more than 20 years of experience as a fixed income portfolio manager at leading Wall Street firms. He also served as a Visiting Scholar and Director of the Global Housing Watch at the International Monetary Fund (IMF).
At Recursion, Richard leads the firm’s research and data analytics initiatives, applying advanced tools and high-frequency datasets to support decision-making in portfolio management, policy, and risk analysis. As he puts it: “Working at Recursion provides me the opportunity to apply cutting-edge big data and digital tools to important issues in portfolio management, research, and policymaking.” Richard holds a **Ph.D. in Economics** from the University of Pennsylvania. He also serves as an adjunct professor at Columbia University, where he advises capstone projects in partnership with firms such as Citigroup and Bank of China. |
