Alex Gerko, a Russian-born British billionaire, is a man who has successfully merged his passion for mathematics with the world of finance. As the founder of XTX Markets, one of the world’s leading algorithmic trading firms, Gerko has revolutionized the finance industry while also becoming a prominent philanthropist. His dedication to supporting mathematics education and his influence in both the financial and academic sectors make him a fascinating figure in today’s global landscape.
Alex Gerko Early Life and Education
Born on December 3, 1979, in Moscow, Russia, Alex Gerko’s early years were marked by his exceptional aptitude for mathematics. He attended Moscow’s prestigious School 57, which was renowned for its rigorous mathematics curriculum. This foundational education set the stage for his later success.
Gerko went on to study at Moscow State University, where he earned a Ph.D. in Mathematics. His time at university was crucial in shaping his analytical thinking and understanding of mathematical concepts, which would later become the cornerstone of his career. Additionally, he earned a Master’s degree in Economics from the New Economic School, providing him with a strong understanding of financial markets and economic theory.
In 2006, Gerko made the significant decision to move to the United Kingdom, where he would eventually become a British citizen. This move not only expanded his horizons but also marked the beginning of his journey in the financial world. In 2022, Gerko renounced his Russian citizenship in protest against the policies of the Russian government, further solidifying his commitment to his new identity as a global citizen.
Career in Finance: The Birth of XTX Markets
Gerko’s career in finance began at Deutsche Bank, where he specialized in foreign exchange (FX) trading. It was at Deutsche Bank that he first became acquainted with the power of algorithmic trading, a field that would later define his career.
In 2009, Gerko joined GSA Capital, a UK-based quantitative hedge fund, where he focused on FX trading. Over the next six years, he honed his skills in quantitative strategies, building a reputation as a leading expert in the field. However, in 2015, he decided to leave GSA Capital and embark on a new venture—one that would change the landscape of algorithmic trading forever.
That year, Gerko founded XTX Markets, a non-bank market-making firm that specializes in providing liquidity to global financial markets. The firm employs cutting-edge machine learning techniques and high-frequency trading strategies to facilitate transactions across multiple asset classes, including equities, FX, commodities, and cryptocurrencies.
XTX Markets quickly grew to become one of the most successful trading firms in the world, handling over $250 billion in daily trading volume. Despite its relatively small size, with around 250 employees, XTX’s influence in the financial world is immense. Gerko retains a 75% stake in the company, and his personal earnings reflect the firm’s success. In 2024, XTX Markets reported a record post-tax profit of £1.3 billion, and Gerko’s share of the profits amounted to an eye-popping £682 million.
Philanthropy: Giving Back to the Community
Alex Gerko success in finance has not only made him a billionaire but has also fueled his commitment to philanthropy, particularly in the area of mathematics education. His love for mathematics, coupled with his belief in its transformative power, has driven him to create initiatives that promote mathematical learning among young people.
In 2020, Gerko founded Axiom Maths (formerly Mathematics Education for Social Mobility and Excellence), a charity aimed at providing free mathematics enrichment programs for students in the UK. The charity works with schools to offer math clubs, tutoring, and other resources designed to support students from disadvantaged backgrounds and inspire them to pursue careers in science, technology, engineering, and mathematics (STEM).
Further cementing his legacy as a champion for mathematics, Gerko and his wife Elena, an economist at the Bank of England, are funding the creation of The 1729 Maths School. This specialist institution, set to open in 2026, will cater to students aged 11 to 18 with a particular aptitude for mathematics. Located in North London, the school will offer a curriculum focused on advanced mathematics, helping to nurture the next generation of mathematical talent.
Since 2020, Gerko has donated over £80 million to educational initiatives and other charitable causes, including aid for Ukraine, support for the NHS, and funding for the London Symphony Orchestra. His philanthropic contributions reflect a deep-rooted belief in the power of education to change lives.
Alex Gerko Personal Life: Family and Residence
Alex Gerko is married to Elena, who works as an economist at the Bank of England. Together, they have three children and live in a luxurious £22 million, seven-bedroom townhouse in Primrose Hill, North London. The couple is known for maintaining a relatively low public profile despite their considerable wealth and influence.
In addition to their London home, Alex Gerko and his family own Holme Wood Estate, a sprawling 150-acre property near Marlow in the Chilterns. This estate serves as a peaceful retreat for the family and provides them with a private sanctuary away from the hustle and bustle of London life.
Legal Challenges and Public Stance
In recent years, Gerko has faced legal challenges related to his Russian nationality. In 2022, after renouncing his citizenship, Gerko was involved in a legal dispute with the accounting firm Mazars, which had refused to provide services to XTX Markets due to his former Russian nationality. The UK Court of Appeal ruled that UK anti-discrimination laws did not apply in this case, dismissing the claim. Gerko expressed his dissatisfaction with the ruling and indicated plans to appeal the decision, further highlighting his public stance against the policies of the Russian government.
Alex Gerko Future Endeavors
Looking ahead, Alex Gerko plans include further expansion of XTX Markets, with the company’s recent announcement of a €1 billion investment in a new data center in Finland. This investment is aimed at enhancing the firm’s computational capabilities and ensuring its continued success in the highly competitive world of algorithmic trading.
Moreover, the opening of The 1729 Maths School is a significant milestone for Gerko’s philanthropic efforts. By fostering young mathematical talent, he hopes to create a lasting legacy that will benefit future generations and contribute to the advancement of STEM education in the UK.
Conclusion
Alex Gerko’s journey from a mathematics enthusiast in Moscow to the founder of one of the world’s leading trading firms and a philanthropist dedicated to mathematics education is a remarkable story of success, innovation, and social responsibility. His contributions to the world of finance and education have left an indelible mark on both industries, and his continued commitment to philanthropy ensures that his influence will be felt for years to come.
With his firm, XTX Markets, continuing to thrive and his educational initiatives set to open new doors for young mathematicians, Gerko’s future is as promising as his past. His story serves as an inspiration to aspiring mathematicians, entrepreneurs, and philanthropists alike, proving that with vision, determination, and a love for learning, it is possible to change the world.