Broker-dealer 1st Global said that it has engaged Nobel Prize winner Dr. Harry Markowitz as an advisor to the company’s Investment Management Solutions committee and as a consultant to 1st Global’s Investment Management Research Group.

Markowitz, who received the 1990 Nobel Prize in Economic Sciences for his dissertation on Modern Portfolio Theory, will advise 1st Global on asset allocation model development processes; innovations in risk and return measurement; investment strategies including integration of hedged, leveraged and illiquid investments in efficient portfolios; along with reviewing and composing research papers relevant to independent financial advisors.

Markowitz currently teaches as an adjunct professor at the Rady School of Management at the University of California at San Diego and also consults.