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CFA Institute Research Foundation Presents the 2025 James R. Vertin Research Award to Mark Kritzman, Lauded Author and CEO of Windham Capital Management

7 April, 2025
New York City United States

The CFA Institute Research Foundation, a CFA Institute affiliate that sponsors independent, in-depth research on investment management issues, is pleased to announce that Mark Kritzman, CFA, Founding Partner and Chief Executive Officer of Windham Capital Management, has been named the recipient of the 2025 James R. Vertin Award. The award recognizes individuals who have produced a body of research notable for its relevance and enduring value to investment professionals. This award was established in 1996 to honor James R. Vertin for his leadership and excellence in research and education.

Throughout his career, Kritzman has authored numerous scholarly articles and books that have shaped the fields of asset allocation, risk management, and decision science. He serves as a Senior Lecturer in Finance at the MIT Sloan School of Management and is a founding editor of the Journal of Investment Management.

His published work spans a variety of leading academic and practitioner journals, including the Financial Analysts Journal, The Journal of Portfolio Management, and The Journal of Financial Economics. Kritzman is also a longtime research contributor to CFA Institute Research Foundation. In addition to his scholarly contributions, Kritzman has developed portfolio management technologies that help investors better navigate risk and complexity, demonstrating a rare ability to translate theory into tools of real-world value.

“Mark Kritzman’s groundbreaking research has profoundly influenced the investment management profession,” said Margaret Franklin, CFA, President and CEO of CFA Institute. “His work bridges the gap between academic theory and practical application, providing investment professionals with invaluable insights and tools. We are honored to recognize his contributions with the James R. Vertin Award.”

Jeffery V. Bailey, CFA, Chair of the CFA Institute Research Foundation, added, “His extensive body of work has significantly advanced our understanding of critical financial concepts, and his dedication to both research and education embodies the spirit of this award.”

About CFA Institute

As the global association of investment professionals, CFA Institute sets the standard for professional excellence and credentials. We champion ethical behavior in investment markets and serve as the leading source of learning and research for the investment industry. We believe in fostering an environment where investors’ interests come first, markets function at their best, and economies grow. With more than 200,000 charterholders worldwide across 160 markets, CFA Institute has 10 offices and 160 local societies.  Find us at www.cfainstitute.org or follow us on LinkedIn and X at @CFAInstitute.

About the CFA Institute Research Foundation

The CFA Institute Research Foundation provides independent, high-quality research that helps investment management professionals effectively fulfill their duties with prudence, loyalty, and care. Research Foundation publications reflect the views of the author(s) and do not represent the official views of CFA Institute, the CFA Institute Research Foundation or the publication’s editorial staff.