Quantitative Finance · Research · Frankfurt am Main

Boyan
Davidov

CFA FRM CAIA CMT CQF PhD Candidate Pictet Prize
Il faut toujours viser la lune, car même en cas d'échec, on atterrit dans les étoiles. — Oscar Wilde
Boyan Davidov
About

Quant PM.
Researcher.
Polymath.

Senior quantitative finance professional with over a decade of experience across multi-asset portfolio management, risk modelling, proprietary trading, and algorithmic strategy development. Based in Frankfurt, with a career spanning Vienna, Monaco, Paris, and Luxembourg.

Holder of five professional designations — CFA, FRM, CAIA, CMT, and CQF — alongside three master's degrees and an active PhD candidacy in Data Science. Academic researcher and co-author of peer-reviewed work in commodity markets and digital assets.

Equally at home in a Bloomberg terminal, a research paper, or on the fencing piste.

5
Professional Designations
3
Master's Degrees
7
Languages
12+
Years in Finance
5
Countries Worked In
2
Papers In Progress
Fencing training in Freiburg
Training · Freiburg
Monte Carlo, Monaco
Monte Carlo · Monaco
Competition · DAVIDOV BUL
Competition · BUL
Modern Pentathlon — Shooting
Pentathlon · Shooting
Honda CBR
Honda CBR
Career

Professional
Experience

Jan 2024 — Present
Portfolio Manager
Commerzbank AG · Frankfurt
Multi-Asset Solutions — research on factor investing, commodity ETC/ETFs, process automation and execution. Development of quantitative reporting infrastructure and benchmark analysis frameworks.
Jun 2021 — May 2023
Risk Manager & Quant Analyst
GFG Group · Monaco
Monitored fund positioning, built risk models and processes, developed quantitative strategies and research for the asset management division. Multi-asset mandate with global scope.
Monaco
May 2020 — May 2021
Financial Operator
ABC Arbitrage · Paris
ADR conversions, stock loan negotiation for short selling, automation of tasks with VBA and C#. Exposure to arbitrage strategies across European equity markets.
Jan 2018 — Aug 2018
Proprietary Equity Trader & Market Maker
Erste Group AG · Vienna
Implemented trading applications and systematic strategies using C++ and Lua. EUREX certified derivatives trader, XETRA exchange-admitted trader.
Oct 2016 — Dec 2017
Finance & Risk Analyst
Accenture GmbH · Vienna
Delivered the first two RPA projects for Accenture Austria using NICE Software. Finance & Risk Services division.
Sep 2012 — Sep 2015
Risk Manager — Capital Markets
Erste Group AG · Vienna
Market data analysis for equity and IR derivatives. Implemented SABR/SVI model in VBA and R. Managed volatility surfaces; Calypso, Kondor, and Asset Control.
Education

Academic
Formation

Sofia University
PhD Candidate in Data Science (Part-time)
Jun 2022 — Present · Sofia
Université de Luxembourg
Master in Wealth Management & Private Banking
Sep 2018 — Mar 2020 · Luxembourg
🏆 Pictet Prize — Best Student in Cohort
WU Vienna
MSc Quantitative Finance
Sep 2010 — Mar 2013 · Vienna
UNWE Sofia
BA Finance
Sep 2006 — Jun 2010 · Sofia
CFA Designation Ceremony
Achievement
CFA Charterholder
Designation Ceremony
Receiving the CFA designation — one of five professional credentials earned alongside an active research career and academic affiliations across four countries. The CFA, FRM, CAIA, CMT, and CQF represent a comprehensive coverage of quantitative finance, risk management, alternative investments, technical analysis, and mathematical modelling.
Research

Academic
Work

Commodity Markets · In Review
Brent Crude Oil Dynamics: Regime Detection and Correlation Breakdown
Co-authored with Nikolay Netov (Sofia University). Full pipeline: STL decomposition, ARIMA/GARCH modelling, HMM regime detection, correlation analysis. Key finding: breakdown of Brent-DXY negative correlation during crisis periods. Targeting SERBE journal.
Digital Assets · Working Paper
Bitcoin as Return Sleeve, Not Diversifier
Co-authored with Demir Bektić and Piotr Kitowski. Extended sample to n=112 months, integrated recent crypto microstructure literature, added behavioral finance subsection, applied data-mining corrections. Challenges the conventional Bitcoin diversification narrative.
Interest Rates · Industry Research
Understanding Bond Risk Premia
Industry lab research at Spängler IQAM Invest, Vienna. Investigated term structure dynamics and excess return predictability in fixed income markets.
Equity · Industry Research
Earnings Quality Measures and Excess Returns
Investigated the relationship between earnings quality metrics and subsequent excess equity returns. Research conducted during industry lab placement at Spängler IQAM Invest.
Expertise

Technical
Skills

Statistical & Scientific
  • Python
  • R
  • MATLAB
  • EViews
  • ARIMA/GARCH
  • HMM
  • Factor Models
  • STL Decomposition
  • Conformal Prediction
Programming
  • C++
  • C#
  • SQL
  • JavaScript
  • VBA
  • Borland Pascal
  • LaTeX
  • NICE RPA
  • BluePrism
Finance Systems
  • Bloomberg
  • Calypso
  • Kondor+
  • Asset Control
  • Tableau
  • EUREX
  • XETRA
  • Excel VBA
Languages

Linguistic
Reach

Bulgarian
Native
English
Fluent
German
Fluent
Russian
Fluent
French
Fluent
Italian
Proficient
Spanish
Advanced
Serbian
Learning
Beyond Finance

Personal
Pursuits

Épée Fencing Competition
🤺 Épée Fencing
Licensed DFB competitor representing Bulgaria. Italian grip specialist preparing for the 2027 veteran debut — beat-and-flèche, froissement, point-in-line.
Fencing Training
🏋️ Strength & Conditioning
Serious weightlifting background targeting 84kg competition weight class. Training for athletic performance, power output and competitive edge on the piste.
Shooting — Modern Pentathlon
🎯 Modern Pentathlon
Competing across the full pentathlon spectrum — fencing, shooting, swimming, riding, and running. The sport of complete athletes.
Honda CBR Motorcycle
🏍️ Motorcycling
Passionate rider. The intersection of mechanical precision, calculated risk, and the kind of focus that translates naturally between the open road and the trading desk.
Monte Carlo
✈️ International Life
Vienna · Luxembourg · Monaco · Paris · Frankfurt. A career built across European financial capitals. Dubai next on the horizon.
📚
Languages & Literature
Active daily reader and language practitioner across seven languages. Currently acquiring Serbian. Classical literature, history, and the philosophy of mathematics.
Frankfurt am Main — Grand Tower
·
Previously: Monaco · Paris · Vienna · Luxembourg · Sofia
Contact

Let's
Connect

Open to senior buy-side roles, academic collaborations, and interesting conversations.

davidovboyan@gmail.com