Rick Bookstaber’s career in risk, spans leading roles at Soloman Brothers, Bridgewater Associates, and many others. In the aftermath of the 2008 crisis he worked in the U.S. Treasury to improve the risk structure of the financial system. From his vantage point he saw that all the focus was on banks while the pain was with individuals, so turned focus to asset owners – which mostly means individuals, the advisor’s clients.
Jagdeep Baccher, the CIO at University of California shared the vision for developing top grade risk management tools for asset owners. So Rick joined him as the Chief Risk Officer for the UC pension and endowment – it's nearly $200 billion – and built the foundation of what’s become Fabric. The University of California is a part-owner of Fabric.
In co-founding Fabric, Rick was joined by Govinda Quish, who has extensive investment background in family offices and is Fabric’s CEO, and Jeff Roush, a veteran of the wealth management space and Fabric’s head of strategy.
So this gets us to where Fabric sits: Fabric is a platform for risk aware portfolio design, built so advisors can access portfolio and risk technology that up to now has only been available to institutional investors. And that Fabric has built and customized to deal with each client's unique financial objectives.
