The firm was founded by David E. Shaw, a former Columbia University faculty member and has more than 1,200 employees worldwide. The focus of its activities is "the intersection between technology and finance,"[citation needed] and it applies quantitative and qualitative trading strategies to hedge fund management and other investments, including venture capital, real estate, and private equity.
In August 1996, Fortune described the firm as "perhaps the most intriguing and mysterious force on Wall Street". Over the following decade, Shaw grew to manage nearly $40 billion in aggregate capital and was once among the world's largest hedge funds as measured by assets under management.[2] In mid-2011 its core hedge funds had approximately $15 billion dollars in investment capital. [3]"Wall Street's King Quant David Shaw's Secret Formulas Pile Up Money. Now He Wants a Piece of the Net.", February 5, 1996, Fortune magazine[3]
The D. E. Shaw group has made a conscious effort to build a carefully selected team of extraordinarily gifted professionals, each among the very best in his or her profession, rather than a larger group of highly competent but less obviously remarkable personnel. To this end, the firm continues to allocate an unusually large portion of its operating budget to the identification and recruitment of truly exceptional individuals who might significantly add to its capabilities. Hiring is extremely selective, with only one candidate in several hundred ultimately invited to join the firm. The company's personnel includes a number of Rhodes, Fulbright, and Marshall Scholars, Putnam Fellows, and the winners of more than 20 medals in the International Math Olympiad. It maintains offices in Europe, North America, Asia and the Middle East.[3]
In support of its recruiting, D. E. Shaw supports educational programs such as Math-M-Addicts (teachers are D. E. Shaw & Co. employees),[citation needed]American Regions Mathematics League[4] Worldwide Online Olympiad Training (WOOT), United States of America Mathematics Olympiad and the International Mathematics Olympiad, Mathematical Olympiad Program, the MIT 6.370 Battlecode Competition,[5] and The Center for Excellence in Education[6]
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