David Kang, MBA, Chairman and CEO
Mr. Kang is Chairman and CEO and is a member of the Executive Committee, leading and driving the strategic vision of the firm globally. He leads business development with the President and leads strategic initiatives with the Senior Advisors. He is Managing Partner of RSMD Investco LLC, the primary shareholder of Ducenta Squared Asset Management and is the CEO and President of the RIA R Squared Inc., an affiliate of RSMD Investco LLC. Mr. Kang has 20+ years experience in the financial markets, investments, and commercial real estate, having managed over $3 billion of assets. Prior to founding RSMD Investco LLC, Mr. Kang ran his family business while creating and managing his family office. Mr. Kang began his career in private wealth at Morgan Stanley Dean Witter. Mr. Kang received his Bachelor of Science degree in Pre-Med at University of California, Irvine and his executive Master of Business Administration degree from University of California, Irvine. He is currently an Advisory Board Member at Merage School of Business i) Center for Real Estate and ii) the Center for Investment and Wealth located at the University of California, Irvine. Mr. Kang has published in the Journal of Medicine and Genetics v.12, No. 4.
Tim Torline, CFA, President of Investments
Mr. Torline has 20 years of investment experience on both buy-side & sell-side trading desks. Most recently, Mr. Torline served as CIO and co-founder of a multi-asset class, systematic hedge-fund that delivered absolute returns based on a proprietary algorithmic trading strategy that he developed in-house. Prior to founding the hedge-fund, he was a Senior Trader for TCW on the global bond desk, helping to manage the duration, volatility, and FX risk for over $150 billion in assets, including $5bln in absolute return funds, as well as enhanced commodity overlay funds. Mr. Torline was directly involved in TCW’s launch of a systematic global macro fund, aimed at employing artificial intelligence trading strategies. Prior to TCW, Mr. Torline worked as a trader for Payden & Rygel and co-managed a $1 billion absolute return fund focused on FX & interest rate derivatives. Prior to TCW, Mr. Torline was at Bear Stearns (later JPMorgan) where he initially worked in the F.A.S.T. group, reverse-engineering securitized bond deals (CDO, RMBS, ABS) and later moved to the MBS trading desk where he ran a profitable 30-year MBS passthrough trading book on the dealer desk. Prior experiences include data analyst positions at various other investment houses on the buy side. Mr. Torline earned a Bachelors of Arts degree in Business from the University of Southern California. Mr. Torline is a CFA® charterholder and previously held NASD Series 3, 7, and 63 licenses.
Ryan O'Malley, CFA, MBA, Head of Portfolio Management
Mr. O'Malley the Head of Portfolio Management. He is the lead portfolio manager for credit focused strategies at DSAM and is a member of the Investment Policy Committee. He is a key member of the investment teams for Core Plus, Core, and Gov/Credit strategies in addition to his role as head of credit strategies.
Mr. O'Malley has over 20 years of experience in the investment management industry working as a trader, analyst, and PM within at both long-only and hedge fund firms. Prior to Ducenta Squared, Mr. O'Malley has had progressive roles in portfolio management across several firms including Oaktree Capital Management, Payden & Rygel, and Sage Advisory Services. Prior to working at Payden, Mr. O'Malley was a partner and Portfolio Manager at Origin Capital Management, a long/short equity hedge fund focused on the Healthcare sector founded by members of Soros Fund Management.
Mr. O'Malley has managed portfolios for large seperate accounts mandates as well as wrap accounts on major platforms. In his role at Sage Advisory, Mr. O'Malley developed, marketed , and managed a credit-focused Exchange Traded Fund (ETF). Mr. O'Malley holds a B.A. with a major in Economics from Columbia University, where he as a memeber of the football team. He obtained an MBA in Finance from the UCLA Anderson School of Management with a concentration in Finance. Mr. O'Malley is a is a CFA charter holder.
Steven Ludwig, Chief Compliance Officer
Steven Ludwig is a Senior Principal Consultant with ACA Global serving as an outsourced Chief Compliance Officer for registered investment advisers. In this role he supports firms managing a variety of products including retail mutual funds, ETFs, cryptocurrency and private funds. He has over twenty years of compliance experience. He began his career with J.P. Morgan working in the development and marketing of products supporting the financial needs of state and local governments, including public and private schools. He was tapped by J.P. Morgan to assist in building out a corporate compliance program. He later moved on to join Lazard as a Vice President and Senior Compliance Officer within the investment banking and asset management divisions. He later joined Pershing as a Chief Compliance Officer, before moving on to serve as a Chief Compliance Officer of PIMCO and more recently the Chief Ethics Officer of Fidelity Investments.
Mike Sanchez, MBA, Securitized Products
Mr. Sanchez is Senior Portfolio Manager, responsible for managing and trading of residential mortgage, commercial mortgage and asset-backed securities. Mr. Sanchez has more than 30 years of investment industry experience including most recently as director of fixed income trading at CastleOak Securities. Prior to that, he was vice president, institutional mortgage/ABS sales at RBC Capital, senior vice president and proprietary trader at Countrywide Securities, portfolio manager at Hotchkis and Wiley and senior vice president/portfolio manager at Provident Investment Counsel. He was also portfolio manager/analyst for Arco Investment Management Co. Mr. Sanchez's portfolio management experience includes oversight and investment of both structured products and credit sectors, including investment grade credit and municipal securities. Mr. Sanchez holds a Bachelor of Science in Applied Chemistry degree from Harvey Mudd College and a Masters of Business Administration from University of Chicago Booth School of Business. Mr. Sanchez previously held NASD Series 3, 7, and 63 licenses.
Michael Leung, Securitized Products
Mr. Leung serves as Senior Portfolio Strategist, focusing on Structured Products where he advises on tactical opportunities. He has over two decades of experience in the financial services industry, predominantly in structured finance where he originated, structured, restructured and traded over a trillion dollars of such par faced notional bonds. Prior to heading back to receive his MSc, Mr. Leung was a Director who headed the ABS and MBS trading unit of Deutsche Bank AG (DB) in Singapore, managing structuring and trading of those products in Asia, ex-Japan. Prior to his DB Singapore work, Mr. Leung worked in New York for UBS Securities LLC as an Executive Director and Citigroup Global Markets Inc. as a Director where he headed the structuring groups which created structured products. He served as head structuring agent at both firms for a wide variety of structured products from MBS and ABS to CMBS, REITs, CDO’s, CLO’s, CLN’s, and NIM Securities. On top of structuring responsibilities, Mr. Leung also worked on the restructuring of debt and corporations. At UBS, Mr. Leung also spear-headed proprietary and technological developments (e.g. product development, Special Situations, and Investment Banking Division mandates). Prior to UBS, and Citigroup, Mr. Leung also held various roles at Merrill Lynch, Moody’s Investors Services, and KPMG. Mr. Leung earned his MSc in Economics and Business Administration from the Norwegian School of Economics in Bergen, Norway in August, 2012 and earned his Bachelor of Science degree in Operations Research from Columbia University in the City of New York in May, 1993.
John Wlodek, MBA, Research Analyst
Mr. Wlodek is responsible for conducting credit analysis and investment recommendations across various corporate industries and issuers within the leveraged loan, high yield and investment grade markets. Mr. Wlodek joined Bradford & Marzec, now part of Ducenta Squared Asset Management, in 2003. Previously, Mr. Wlodek worked as a senior vice president with Imperial Capital, where he gained significant experience in the research and trading of high yield bonds, bank loans and special situation investments, and the formulation of investment recommendations regarding distressed and bankrupt issuers. He also has experience as an M&A advisor with Barrington Associates, a banker with the Industrial Bank of Japan, and a Certified Public Accountant (CPA) with Deloitte Haskins & Sells and McGladrey, Hendrickson & Pullen. Mr. Wlodek's previous industry sector exposure as an M&A advisor, banker and CPA included aerospace, airlines, business services, consumer products, food and beverage, hospitality and leisure, paper and forest products, real estate, retailing, technology, and telecommunications. Mr. Wlodek earned a Bachelor of Science in accounting from Indiana
Han Bae, Research Analyst
Han Bae has 7 years of experience in the financial services industry, predominantly in Financial Institutions Coverage where he participated in new business development and relationship management with various Financial Institutions in South Korea, including Banks, Securities Firms, Pensions and Insurance Companies. During his time at R Squared ML Company, Mr. Bae has assisted in developing new business relationships with Financial Institutions in South Korea and led to execution of new Global Master Securities Lending Agreement (GMSLA) deals with top Securities Firms in South Korea. Prior to R Squared ML Company, Mr. Bae was a Junior Relationship Manager at BNP Paribas Seoul Branch, supporting Senior Relationship Managers in variety of financial services such as FX, Derivatives and M&A. Mr. Bae began his career at Project Financing Department in SK Securities, where he participated in Renewable Energy Financing Projects. Mr. Bae earned his Bachelor’s Degree in Global Economics from Sungkyunkwan University.
David Cabral, Research Analyst
Mr. Cabral is a research analyst and is responsible for conducting fundamental credit analysis and providing investment recommendations across a variety of industries under the supervision of the Co-Heads of Research. Prior to joining Ducenta, Mr. Cabral was an investment analyst at the San Manuel Band of Mission Indians where he conducted due diligence on the tribe's investment opportunities and led analysis of the gaming industry. Mr. Cabral began his career as an analyst at Pismo Ventures where he conducted due diligence on early-stage investment opportunities. Mr. Cabral holds a Bachelor of Arts in Economics from the University of California Riverside and a Master of finance from the University of California at Irvine's Paul Merage School of Business.
Mark Kavolius CIMA Client Relations
Mr. Kavolius is a Client Management Portfolio Manager and supports the firm’s relationships with clients, prospects, institutional consultants and financial advisors. Mr. Kavolius joined Bradford & Marzec, now part of Ducenta Squared Asset Management, in 2010. Mr. Kavolius has more than 28 years of industry experience and previously served as Director of Sales and Marketing for Stonebridge Advisors. He also worked in senior sales and marketing positions at Mellon Financial, Dreyfus Investments and Liberty Financial. Mr. Kavolius holds a Bachelor of Science degree in business management from the University of Massachusetts. He has earned the CIMA designation from the Wharton School of Business through IMCA. He is also a member of the editorial board for the IMCA publication “Investments and Wealth Monitor.”
Connor Davitt, Analyst
Connor Davitt joined Ducenta as an analyst in 2025. Prior to Ducenta, Mr. Davitt worked as a summer analyst at Oaktree Capital Management in Los Angeles, CA, where he gained experience in alternative investments, distressed debt, and private credit markets. He earned his BS from the USC Marshall School of Business with an emphasis in finance.
Kenneth Ro, Client Relations
Kenneth Ro is a Client Relationship manager with 20 years of industry experience. His duties include supporting business development and client management of existing and new clients in private wealth and on the institutional level. Prior to joining Ducenta Squared Asset Management, he was with the Private Client Services division of Deutsche Bank Alex. Brown, a Vice President at Morgan Stanley Private Wealth Management and a Vice President at UBS Private Client Group. In addition to Wealth Management, he is also experienced in Alternative Investments as a former Director of Business Development with Group 11 (Palo Alto/Beverly Hills based VC Fund) and Vice President/Private Equity for ZT Corporate. Ken received a Bachelor of Science degree in Business Administration, emphasis in Finance, from the University of Southern California (Marshall School of Business). Series 65.
Caleigh Clark, Client Relations
Ms. Clark is a Client Relations manager joined Ducenta Squared Asset Management in 2022 as the assistant to the Executive Committee. Her responsibilities include overall office duties, graphic design projects, coordination of office administration and procedures, Executive Committee planning and follow up, and assisting the Client Relations department. Ms. Clark was on the golf team at the California State University, Los Angeles where she finished her Degree, Bachelor of Arts, with a focus in Graphic Design.
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Katie Sandvig, Operations
Ms. Sandvig is an Operations Analyst with Ducenta Squared. She is responsible for several back-office functions including account reconciliation and performance calculation. Prior to Ducenta Squared, she worked at Payden & Rygel, beginning her career in Operations and eventually becoming Vice President in the Global Settlements department. Ms. Sandvig holds a Bachelor of Science degree in Finance from California State University, Northridge.
Leonard Shonka, Operations
Mr. Shonka is an Operations Analyst with Ducenta Squared. He is responsible for assisting the Deputy Office Manager in several back-office functions for the firm; those include trade communication, settlement, and corporate action monitoring. Prior to joining Ducenta Squared, Mr. Shonka worked on a title insurance desk at Doma Title Company where he helped issue title insurance for commercial and residential real estate transactions. He holds a Bachelor of Arts degree in Business Economics and History from the University of California, Santa Barbara.
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Sakiko Shida, CPA Financial Analyst
Ms. Shida is a CPA with a strong background in tax consulting and financial analysis. Having honed her expertise at Deloitte Tax LLP, she advised clients on complex tax strategies and compliance matters. Following her time at Deloitte Tax LLP, she transitioned to a role as a business analyst at Pluto TV, where she leveraged her financial acumen to analyze performance metrics and support strategic decision-making. Ms. Shida holds a Bachelor of Science degree in Cognitive Science with a Specialization in Computing and a Minor in Accounting from University of California, Los Angeles.