A team of experts with decades of investment experience. Years in the market have shaped our judgment and reinforced our conviction. Experience matters most when managing investment risk.
Marcos Hernández Aguado
Managing Partner and Chief Investment Officer
Born in Madrid in 1968, Marcos Hernández Aguado holds a degree in Economics and Business Administration from Universidad Pontificia Comillas (ICADE E-2) and is a Qualified Financial Analyst, accredited by the UK Financial Services Authority.
He has over 30 years of experience in listed equities, including 15 years as a sell-side and buy-side financial analyst across a wide range of sectors, followed by extensive experience as a value-oriented fund manager. His investment approach is inspired by the long-term, fundamentals-driven value philosophy of Warren Buffett and Charlie Munger, with a focus on business quality, capital discipline, and downside protection.
Marcos began his career at Crédit Agricole in Madrid and later worked at Merrill Lynch in London, gaining international exposure to equity research and capital markets. He joined SIA Asset Management in 2008 as a Senior Analyst, where he progressively assumed greater responsibilities, becoming Head of Research, Co-Manager of the funds, and, in 2019, Portfolio Manager. He currently serves as Managing Partner and Chief Investment Officer (CIO) of SIA AM.
His strategic objective is to position SIA AM as a trusted long-term partner for both investors and portfolio holdings. His investment process emphasizes capital preservation and decent returns, in line with Keynes’ principles of investment, targeting average annual net returns of 10–12% while maintaining a very low risk profile.
Marcos’ professional approach is guided by seriousness, discipline, transparency, and a strict quality value philosophy, combined with strategic long-term thinking and a highly disciplined circle of competence.
Alex Rauchenstein
Managing Partner and Member of the Investment Committee
Born in Aarau, Switzerland, Alex Rauchenstein holds an Executive MBA in International Wealth Management from GSIA Carnegie Mellon University, an MBA from the University of Geneva (HEC), and is a Chartered European Financial Analyst (CEFA). He has more than 35 years of experience in the investment industry, guided throughout his career by a strong commitment to value investing.
Alex began his career at UBS Zurich in 1989 via a trainee program and later joined UBS Asset Management, where he managed pension mandates and launched the UBS Central Europe (Eastern European Equity) Fund.
In 1999, he became Head of the Investment Process at Centrum Bank in Vaduz, Liechtenstein, where he was responsible for strategic asset allocation as well as sector, fund, and stock selection.
In January 2006, Alex joined Strategic Investment Advisors Group, where he founded and built SIA Funds AG into a fully regulated asset management company. He currently serves as Managing Partner of SIA Asset Management AG.
Early experiences, including competitive biathlon training and making his first stock investment at the age of 15, helped shape the discipline, focus, and long-term perspective that characterize his professional approach.
Urs Marti
Partner and Member of the Investment Committee
Born in Zurich, Urs Marti began his career at UBS in 1987, completing a traditional banking apprenticeship and finance trainee program. He holds a Bachelor of Business Administration (BBA) from KSZH and built a strong foundation in trading and sales, working at UBS and later at Credit Suisse First Boston (CSFB). During his time at CSFB, he was also a member of the Swiss Capital Group start-up team, contributing to the development of the platform in its early stages.
In 2003, Urs joined Zulauf Asset Management, where he played a key role in the launch and management of a natural resources investment fund. Following the global financial crisis in 2008, he continued to manage the fund as a partner in a boutique asset management firm, expanding his responsibilities to include the management of a dedicated uranium fund.
In 2012, Urs founded his own company, focusing on direct investments in the natural resources and agricultural sectors, with an emphasis on long-term value creation and real-asset exposure.
Urs joined Strategic Investment Advisors Group in April 2016 and is a Partner of SIA Asset Management AG, where he contributes extensive expertise in resource markets, portfolio management, and investment strategy.
José Carlos Jarillo
Founding Partner, Member of the Investment Committee
Born in Valencia, Spain, Professor José Carlos Jarillo holds a Doctorate in Business Administration from Harvard University and a Doctorate in Economics from the Universidad Autónoma de Barcelona. He has held the Chair of Corporate and International Strategy at the University of Geneva and has taught at leading institutions including IMD in Switzerland, IESE and Instituto de Empresa in Spain, and has served as a Senior Research Associate at Harvard Business School.
A leading scholar in strategic management, Professor Jarillo is the author of several influential books on strategy, internationalization, and cooperative strategies, including Strategic Logic, Strategic Networks, Internationalising the Medium-Sized Firm, Dirección Estratégica, and Estrategia Internacional. His work has been published extensively in top academic journals such as the Strategic Management Journal, European Management Journal, Long Range Planning, and the Journal of International Business Studies, as well as in numerous European business publications.
His research focuses on the internationalization of firms and their strategic responses to technological, regulatory, and competitive change. Alongside his academic work, he has advised companies worldwide—ranging from entrepreneurial firms to large multinational corporations—through top management seminars and hands-on strategy design and implementation. He has also served on multiple Boards of Directors and as Director of Corporate Development of the Campofrío Group.
Driven by a long-standing interest in the foundations of sustainable corporate profitability and the integration of theory and practice, Professor Jarillo founded Strategic Investment Advisors in 2002, where he currently serves as Member of its Investment Committe.
Laszlo Gömöri
Director and Advisor to SIA Asset Management
László Gömöri has over 20 years of experience in global financial markets, having held senior leadership roles at UBS, Sarasin, and Pictet. At Pictet, he served as Chief Marketing Officer (CMO), where he was responsible for strategic positioning, product development, and client-facing initiatives across international markets.
He holds a PhD in Corporate Finance from the University of Basel, with a specialization in Behavioural Finance, and an MBA in Entrepreneurship from Babson College (USA). His academic background combines rigorous financial theory with a strong entrepreneurial and innovation-driven mindset.
In 2010, Dr. Gömöri developed a proprietary statistical market-timing methodology, integrating behavioural insights with quantitative analysis. Following extensive real-world testing, the methodology was successfully computerized, leading to the founding of Spectralwaves, a technology-driven investment analytics platform.
Since 2012, Dr. Gömöri has been a long-term advisor to the SIA team, providing strategic guidance on market analysis, investment timing, and the application of behavioural finance principles to portfolio management
Roland Eberhard
Portfolio Manager – Pazola Investments
Roland is passionate about alternative investments and is the Portfolio Manager of Pazola Investments. The Investment Manager of Pazola is SIA Asset Management SA, where he serves as Portfolio Manager, responsible for portfolio construction, manager selection, and risk management.
He has been managing discretionary portfolios since 1994, with a long-standing focus on absolute-return investing, capital preservation, and disciplined risk control. Over more than three decades, he has navigated multiple market cycles with a repeatable, pragmatic investment process.
A core principle of his approach is alignment of interests. A significant portion of his liquid personal net worth is invested in Pazola alongside clients, reflecting a long-term commitment to the strategy.
Roland has lived and worked in several international financial centres and brings a global perspective and network to alternative investing. His experience spans hedge funds, private equity, and alternative UCITS strategies, with a strong emphasis on due diligence, governance, and ongoing oversight in collaboration with institutional counterparties.
Karin Rüttimann
Head Administration & Office Manager
Karin Rüttimann joined SIA Asset Management in January 2008 as Assistant to the CEO. She brings with her extensive experience in senior executive support, having previously served for many years as Assistant to the CEO at Von Roll.
Earlier in her career, Karin held several senior administrative positions at Dow Chemical, where she developed a strong foundation in corporate administration within an international environment.
In recognition of her professionalism, reliability, and deep institutional knowledge, she was promoted to Head of Administration & Office Manager of SIA Asset Management AG in December 2013, a role in which she continues to play a key part in ensuring smooth and efficient office operations.
Integrity is a core value that guides the entire SIA team.
It is a sine qua non for managing capital responsibly.
