Welcome back to another episode of Goldman Sachs Exchanges, great investors.

I'm Raj Mahajan, a partner at the firm, where I'm responsible for helping to build out the

firm's capabilities to serve the systematic investing community.

Today, I have the great pleasure of sitting down with one of the stars of our industry,

Rafael A. Savi,

the global head of BlackRock Systematic, which is celebrating its 40th year in the business.

Rafaeli leads BlackRock's quantitative investing teams across fixed income, equity, and factor investing,

and overseas more than 317 billion in assets under management.

He also sits on the firm's global executive committee. We're going to dive into his impact on quantitative investing

and explore his perspectives on the growing role of AI

and quite timely get his perspectives on the current tricky moment

for the quant industry given some of the drawdowns that we've

experienced.

Rafaeli, it's a pleasure to welcome you to great investors and congratulations

on the 40th anniversary.

Thank you.

I might clarify.

I have been with the team for 20 years, so half of this 40th, but the team itself has been serving clients

for 40 years and thank you for having me here.

Let's just get right to it. Let's start early in your career. You started your career

in Italy at Capitalia. I did. And you eventually rose to become the CEO of Capitale

Investment Management. Take us back to what drew you to finance in the first place,

...