Erik Postnieks, former chief executive of Wooster Asset Management, wants to launch a mutual fund.

How do we know? Because he posted this job opening on Linkedin seeking an in-house counsel for his current firm Artificial Intelligence Quotient.

He's not looking for just any compliance officer. In the posting, he has this to say about the ideal candidate:

We are looking for a lawyer who has passed the Utah bar exam and has at least two years of experience with a large, Salt Lake City law firm.  The candidate should have some experience in the financial sector.  The ideal candidate is probably fed up with the pressure for billable hours and the tedious nature of most legal careers.

What is Artificial Intelligence Quotient? Well, Postnieks has this to say about the company, again in the posting:

AIQ is an investment manager of managed accounts based in Park City, Utah.  We will first do business as an registered investment adviser, then add a hedge fund, and then add a mutual fund.  We use artificial intelligence, Big Data, news analytics, and a supercomputer to create beta neutral long/short equity portfolios with daily turnover and an options overlay.  We expect to grow at an extremely rapid pace.

He may sound unconventional, but he does have a track record.

With a B.A. in Economics from Cornell University and an MBA from The Amos Tuck School of Business Administration at Dartmouth College, he first served as a co-portfolio manager of a $2 billion derivatives structured products portfolio for Bankers Trust in the mid '90s.

He then ran a quant hedge fund firm, PCM from 1997 to 2003.

Postnieks then launched and ran Wooster Asset Management from 2004 to 2010.

After graduating from the December 2010 Executive Program at Singularity University at the NASA Ames Research Center, Postnieks has focused on technology angel investing.

What will he do with the new mutual fund, or funds, he plans to launch? MFWire wasn't able to reach Postnieks for comment.  

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