Management Team

Kirill Ilinski is founding partner and Chief Investment Officer of Fusion Asset Management. In-depth research is at the core of all Fusion strategies, and Kirill has brought together a team of experts in risk management and systematic trading to work alongside him.

Kirill started his banking career in 2000 at Chase Manhattan (later JP Morgan Chase) and stayed with the bank until setting up Fusion four years later. Kirill joined Chase as deputy head of equity exotic analytics for Europe and Asia. He then moved across to the European equity index options market-making desk where he was responsible for optimal delta-hedging and quantitative proprietary trading strategies. During this time Kirill worked on his "Credit Risk Reversal" model  for hedging credit and equity derivatives, leading him to co-found the JP Morgan Debt-Equity Relative Value Group in 2003.

With a PhD in Mathematical Physics gained in 1994 in Russia, Kirill pursued an academic career as a Physics Research Fellow at Birmingham University from 1994 to 2000. During his fellowship he published more than 40 research papers, with a particular focus on the application of theoretical physics to financial modeling. On this topic, Kirill developed the gauge theory approach to non-equilibrium asset pricing, as outlined in his book “Physics of Finance. Gauge Modelling in Non-Equilibrium Pricing” (Wiley & Sons, 2001).

Selected papers in financial economics

Selected papers in physics and mathematics