Mac McQuown, Co-Founder and Director of DCI, was honored with the CME Group's Melamed-Arditti Innovation Award. He received the award, along with Jack Bogle, as recognition for revolutionizing investment strategy by pioneering index funds in the 1970s. Together, Mac and Jack developed a new a form of passive portfolio management which today account for nearly 30 percent of all U.S. investments.
"I'm deeply honored to be selected, along with my long-time colleague Jack Bogle, for the Melamed-Arditti Award," said McQuown. "My immense gratitude goes to the individuals who were so instrumental in creating the first index funds at Wells Fargo, including six academics who today have Nobel prizes, two CEOs and one Chairman of Wells who paid the way, plus our talented internal staff, together with several lawyers who also worked so diligently to pave the way. The achievement is a study in extraordinary collaboration."