Li Chang, Ph.D.

Li Chang is the founder and CEO of Recursion Co., a New York-based fintech company that provides advanced data and analytics on the U.S. mortgage and housing finance markets. By integrating technology, finance, and big data, Recursion delivers critical insights to Wall Street firms and government agencies. Since founding the company in 2015, Li has built Recursion into a premier data provider, setting the industry standard for transparency and precision in housing finance.

Prior to Recursion, Li traded CMBS at Paulson & Co. She developed her quantitative and cross-asset expertise through earlier roles at Bear Stearns’ proprietary trading desk, leading the financial engineering team on Citadel’s mortgage desk, and conducting quantitative research at Morningstar.

Li holds a Ph.D. in Mathematics from the University of Illinois at Chicago and a Bachelor of Architecture from Tsinghua University. She also serves as an Industry Expert in Residence at Fordham University’s Gabelli School of Business and is frequently invited to speak at major industry conferences.