We have only one purpose:
Helping active managers receive all the benefits of the ETF structure – while always shielding their trading strategies

Blue Tractor are seasoned finance professionals who came together to solve a pressing problem for active fund managers:
How can active managers get all of the benefits of an ETF product without giving away their strategy?

At the heart of our solution is the Shielded Alpha ® ETF wrapper and its cloud-hosted workflow.

And surrounding this is all the advice and support you need to make your journey to launch your ETF as frictionless as possible.

Leadership Team

Terence (Terry) Norman


Terry is a financial mathematician who has developed numerous alpha generation models to support equity, fixed income and FX businesses for many leading investment firms and asset managers. He has worked for companies in both the UK and United States, including Bank of America, WorldInvest, PanAgora Asset Management, Morgan Stanley and Merrill Lynch.

He is a listed inventor on numerous issued and pending patent applications concerning exchange traded funds (ETFs), for both active and passive strategies.

Terry has a degree in mathematics from the University of London.

Simon Goulet


Simon is a corporate development professional with deep experience in the financial sectors in both the United States and Canada, including as Vice President in the investment banking divisions of TD Securities, Donaldson, Lufkin & Jenrette, and Credit Suisse.

He has also served as CFO and COO for public and venture-backed technology companies, where he negotiated numerous business development and licensing transactions.​

Simon has a BSc (biochemistry) from Queen’s University (Canada) and an MBA from the Ivey School of Business, Western University (Canada).

Why “Blue Tractor”?

Terry Norman’s blue tractor is the perfect solution for his farm in rural England. It is powerful and sophisticated enough to do everything he needs, and streamlines day to day operations with easy-to-use tools and operational features.

The core concepts underpinning the novel algorithm that facilitates the Shielded Alpha® ETF wrapper came to Terry while he cut hay on his blue tractor.