In the News
Dimensional Congratulates John "Mac" McQuown on Innovation Award
November 17, 2017
Dimensional is proud to honor John “Mac” McQuown for receiving the 13th CME Group Melamed-Arditti Innovation Award for revolutionizing investment management by pioneering index funds in the 1970s. A longtime friend and mentor to Executive Chairman David Booth, McQuown played a key role in the firm’s founding and is a Dimensional Director.
While working independently at their respective firms, McQuown and Booth at Wells Fargo Bank in San Francisco and Rex Sinquefield at American National Bank & Trust in Chicago created the first index funds for institutional investors in 1973. McQuown received the Innovation Award along with John C. "Jack" Bogle, who founded Vanguard in 1975.
“Mac was in on the ground floor of the movement to bring academic rigor to finance, a pursuit that remains at the heart of Dimensional to this day,” Booth says. “We’ve sought to enhance the original idea of indexing without compromising the benefits of low costs and diversification. Along the way we have amassed results that stand out in the industry, and Mac has played a pivotal role.”
John “Mac” McQuown is a member of the Board of Directors of the general partner of Dimensional Fund Advisors LP. Dimensional Fund Advisors LP is an investment advisor registered with the Securities and Exchange Commission.