Early Life
Michael Edward Platt was born on March 18, 1968, in Preston, Lancashire, England. His father taught civil engineering at the University of Manchester, and his mother was a university administrator. Platt's interest in investing was sparked by his grandmother, who introduced him to the stock market. At age 14, he invested in a shipping line, Common Brothers, with an initial investment of £500, which tripled in value. Platt studied civil engineering at Imperial College London for a year before switching to mathematics and economics at the London School of Economics, graduating in 1991.
Rise to Success
Platt began his career in the City of London in 1991, joining JP Morgan. He quickly rose through the ranks, becoming responsible for developing the bank's swaps and options trading business. In 1996, he became the head of trading for all swaps products relating to the 11 founding states of the European single currency. In 2000, Platt co-founded BlueCrest Capital Management with William Reeves. Under Platt's leadership, BlueCrest grew into one of the largest hedge funds globally, managing over $35 billion in assets at its peak. In 2015, BlueCrest transitioned into a private partnership, managing only the wealth of its partners and employees.
Key Business Strategies
Platt's investment strategy combined systematic, algorithmic trading with discretionary strategies. His firm was known for its ability to generate high returns. He is known for a disciplined approach to risk management, and the ability to adapt to changing market dynamics. He made a key decision in 2015 to focus on managing internal capital, which allowed for more aggressive investment strategies.
Philanthropy
While details of Platt's charitable endeavors are less publicized, he is known for his philanthropic efforts. He is involved with The Michael Platt Foundation and has invested in art. Platt also owns Michael's Desserts, a bakery operating on a “buy one, give one” model, donating desserts to those in need.