About / Senior Fellows
The Senior Fellows are the shining lights of the IAQF and the most accomplished experts in financial engineering. All of the IAQF Senior Fellows have achieved renowned excellence in the field through exceptional and ground-breaking contributions to financial engineering technology, as both academics and practitioners. The IAQF defines financial engineering as the "development and creative application of financial technology to solve financial problems." Thus the IAQF's Senior Fellows are notably distinguished individuals who have created pioneering products or have built innovative businesses, as well as those who contributed important research to the field of financial engineering. Amongst the Senior Fellows are all the recipients of the Financial Engineer of the Year Award.
IAQF Senior Fellows
Phelim P. Boyle, a distinguished professor and actuary, is a professor of finance in the Laurier School of Business & Economics at Wilfrid Laurier University in Canada and is a pioneer of quantitative finance.
Until June 2006, he held the J. Page R. Wadsworth Chair at the University of Waterloo where he helped establish the University’s computational finance program and served as its first director. He graduated from Queens University Belfast and holds a PhD from Trinity College Dublin. Professor Boyle is a Fellow of the UK Institute of Actuaries and the Canadian Institute of Actuaries.
Professor Boyle has won several awards for the contributions his research has made in finance and actuarial science, particularly his work on applications of the Monte Carlo method to finance problems. His papers have appeared in the leading journals in finance and actuarial science and he has been a visiting professor at several universities. Dr. Boyle has lectured extensively on risk management topics to practitioner audiences around the world as well as consulted financial institutions in the United States and Canada.
Dr. Boyle was named IAQF/SunGard Financial Engineer of the Year in 2005.
Wilfrid Laurier University
Douglas T. Breeden is the William W. Priest Professor of Finance and former Dean of Duke University’s Fuqua School of Business. He also served on faculties at Chicago Booth, Stanford and North Carolina, where he was the Dalton McMichael Professor of Finance. He was the Fischer Black Visiting Professor of Financial Economics at MIT’s Sloan School in 2011-2013 and won an ”Outstanding Teacher” award.
Michael Brennan is emeritus professor of finance at UCLA Anderson and visiting professor at Manchester University. His current research interests include asset pricing, market microstructure, and the role of information in capital markets. He has published extensively in all of these areas. He is currently working on informed trading around merger announcements, extending the CAPM to allow for stochastic liquidation, and risk-based explanation of time-variation in expected returns.
A former president of the American Finance Association, he has served as editor of the Journal of Finance and was the founding editor of the Review of Financial Studies. He has consulted extensively for corporations in Canada and the US, and in 1995 he was awarded the INQUIRE Europe prize for his work on corporate hedging strategies. He holds a Ph.D. Business Administration from the Massachusetts Institute of Technology, an MBA from the University of Pittsburgh, a B.Phil. in Economics from Oxford University and honorary degrees from the Universities of Copenhagen, Dublin, Lancaster, London, Stockholm, St Gallen, and Zurich.
Dr. Peter Carr is in his 3rd year as Department Chair of the Department of Finance & Risk Engineering at NYU Tandon School of Engineering. He was previously the Executive Director of the Math Finance program at NYU's Courant Institute from 2010 to 2015. He was a Managing Director at Morgan Stanley with over 20 years of experience in the derivatives industry. He was also a finance professor for 8 years at Cornell University, after obtaining his PhD from UCLA in 1989. Dr. Carr is presently the Treasurer of the Bachelier Finance Society, and a trustee for the Museum of Mathematics in New York. He has over 90 publications in academic and industry-oriented journals and serves as an associate editor for 8 journals related to mathematical finance. He was selected as Quant of the Year by Risk Magazine in 2003 and shared in the ISA Medal for Science in 2008. In 2010, the International Association of Quantitative Finance and Sungard jointly selected Dr. Carr as its Financial Engineer of the Year. Dr. Carr was selected in Institutional Investor’s prestigious annual Tech 50 from 2011 to 2014.
New York University
John C. Cox
John C. Cox is the Nomura Professor of Finance at the MIT Sloan School of Management.
A leading authority on corporate finance and finance theory, John Cox has developed an intertemporal financial model broad enough to include the fundamental underlying forces affecting financial markets. Using this framework, he has devised a theory of the term structure of interest rates. His bond pricing model is widely used on Wall Street. In the field of contingent claims, Cox has examined the foundations of option valuation. His principle of risk-neutral valuation has become an essential feature of subsequent work on derivatives.
Cox has also developed a simple numerical scheme for valuing American options that is used by most firms dealing in equity derivatives. For many years, his book,Options Markets, has been a leading text in the field. In the area of dynamic investment strategies, Cox has studied how best to manage a portfolio over time to meet specific objectives. His work has also examined how the length of the planning horizon affects optimal behavior.
He was named IAQF/SunGard Financial Engineer of the Year in 1998.
MIT Sloan School of Management
Professor Emanuel Derman joined Columbia University's Industrial Engineering and Operations Research Department in 2003. Prior to joining Columbia, he was a managing director at Goldman Sachs, where he was head of the quantitative strategies group in the equities division, and then head of quantitative risk strategies in firm-wide risk. He is best known for his work on the Black-Derman-Toy interest-rate model and for developing local volatility models of the implied volatility smile.
Professor Derman's research interests include quantitative finance, financial engineering, derivatives valuation, volatility models, and risk management. He has published in numerous journals including the Financial Analysts Journal, RISK, The Journal of Portfolio Management, and the Journal of Derivatives. His recent memoir, My Life as a Quant: Reflections on Physics and Finance, was published in 2004 and was selected as one of Business Week's top ten books of the year. Professor Derman was named IAQF/SunGard Financial Engineer of the Year in 2000.
Darrell Duffie is the Dean Witter Distinguished Professor of Finance at The Graduate School of Business, Stanford University, where he has been a member of the finance faculty since receiving his Ph.D. at Stanford in 1984. Among other books, Duffie is the author of Dynamic Asset Pricing Theory (Princeton University Press, third edition 2001) and a co-author of The Squam Lake Report: Fixing the Financial System (Princeton University Press, 2010).
His recent research focuses on asset pricing, credit risk, fixed-income securities, and over-the-counter markets. Duffie is a Fellow and member of the Council of the Econometric Society, a Research Associate of the National Bureau of Economic Research, a member of the Financial Advisory Roundtable of the New York Federal Reserve Bank, and a Fellow of The American Academy of Arts and Sciences. He was the President of The American Finance Association for 2009.
Dr. Duffie was named IAQF/SunGard Financial Engineer of the Year in 2003.
Robert Engle is an expert in time series analysis with a long-standing interest in the analysis of financial markets. His ARCH model and its generalizations have become indispensable tools not only for researchers, but also for analysts of financial markets. Many of these methods are now featured in the innovative public web site, V-LAB, where daily estimates of volatilities and correlations for more than a thousand assets can be found. These forecasts use both traditional and state of the art statistical methods. These computations are used in evaluating portfolio risk, asset allocation, derivative pricing and systemic risk measures now incorporated in the NYU Stern Systemic Risk Rankings. His research has produced such innovative statistical methods as cointegration, common features, autoregressive conditional duration (ACD), CAViaR, and DCC models. Now multiplicative error models (MEM) and factor spline garch (FSG) combine these into ever more powerful statistical tools.
Professor Engle is the Director of the NYU Stern Volatility Institute and a co-founding president of the Society for Financial Econometrics (SoFiE), a global non-profit organization housed at NYU. Before joining NYU Stern in 2000, he was Chancellor’s Associates Professor and Economics Department Chair at the University of California, San Diego and Associate Professor of Economics at MIT. He is a member of the National Academy of Science.
He received his Bachelor of Science from Williams College and his MS in Physics and PhD in Economics from Cornell University. He grew up in Media, Pennsylvania, spent 25 years in San Diego and now lives in New York City.
Dr. Engle was named IAQF/SunGard Financial Engineer of the Year in 2011.
New York University, Stern School of Business
John C. Hull
John Hull is the Maple Financial Professor of Derivatives and Risk Management at the Joseph L. Rotman School of Management, University of Toronto. He is an internationally recognized authority on derivatives and risk management and has over 50 publications in this area. His work has an applied focus. His areas of research have included the impact of stochastic volatility on the pricing and hedging of options, the valuation of interest rate and credit derivatives, the calculation of value at risk, and the evaluation of model risk. He was, with Alan White, one of the winners of the Nikko-LOR research competition for his work on the Hull-White interest rate model, which is widely used by practitioners. In 1999 he was voted Financial Engineer of the Year by the International Association of Financial Engineers. . He has acted as consultant to many North American, Japanese, and European financial institutions. He has won many teaching awards, including University of Toronto's prestigious Northrop Frye award.
He has written three books: “Risk Management and Financial Institutions” (now in its 3rd edition), "Options, Futures, and Other Derivatives" (now in its 8th edition) and "Fundamentals of Futures and Options Markets" (now in its 8th edition). The books have been translated into many languages and are widely used in trading rooms throughout the world, as well as in the classroom.
Dr. Hull is co-director of Rotman’s Master of Finance program. In addition to the University of Toronto, Dr. Hull has taught at York University, University of British Columbia, New York University, Cranfield University, and London Business School.
University of Toronto
Jonathan Ingersoll is the Adrian C. Israel Professor of International Trade and Finance at Yale University's School of Management. Prior to Yale, he was on the faculty at the Graduate School of Business at the University of Chicago. He was a member of the Founding Committee of the Society for Financial Studies and served as an editor of their The Review of Financial Studies. He is currently an Associate Editor of The Review of Derivatives Research.
Professor Ingersoll has specialized in the fields of valuation of options and derivative securities and is author of numerous articles in this area as well as the textbook Theory of Financial Decision Making. Professor Ingersoll received his SB in Physics from MIT in 1971 and his SM and PhD from the MIT Sloan School of Management in 1973 and 1976.
Dr. Ingersoll was named IAQF/SunGard Financial Engineer of the Year in 2002.
Robert Jarrow is the Ronald P. and Susan E. Lynch Professor of Investment Management and Professor of Finance and Economics at the Johnson Graduate School of Management at Cornell University. He is a member of the graduate field of Operations Research.
Professor Jarrow joined the Cornell faculty in 1979. In 1990 he was a Barclays de Zoete Wedd Visiting Professor at the Australian Graduate School of Management, University of New South Wales in Australia. He is the managing editor of Mathematical Finance, a co-editor of The Journal of Derivatives and an associate editor for numerous other finance journals.
He was a Mobil scholar in 1993 and a member of the Merrill Lynch Academic Advisory Council in 1994-95. His research has won numerous awards, and he serves on various corporate board of directors and advisory boards. He is co?director of Cornell University’s Certificate in Financial Engineering program.
Jarrow was named IAQF/SunGard Financial Engineer of the Year in 1997.
Martin L. Leibowitz
Martin L. Leibowitz is a managing director with Morgan Stanley Research Department’s global strategy team. Over the past eight years, he and his associates have produced a series of studies on such topics as asset allocation, equity valuation, asset/liability management, and duration targeting in bond portfolios.
Prior to joining Morgan Stanley, Mr. Leibowitz was vice chairman and chief investment officer of TIAA-CREF from 1995 to 2004, with responsibility for the management of over $300 billion in equity, fixed income, and real estate assets. Previously, he had a 26-year association with Salomon Brothers where he became director of global research, covering both fixed income and equities, and was a member of that firm’s Executive Committee. Mr. Leibowitz received both A.B. and M.S. degrees from The University of Chicago and a Ph.D. in mathematics from the Courant Institute of New York University.
He has written over 200 articles on various financial and investment analysis topics, and has been the most frequent author published in both the Financial Analysts Journal (FAJ) and the Journal of Portfolio Management (JPM). Ten of his FAJ articles have received the Graham and Dodd Award for excellence in financial writing. In February 2008, an article written by Mr. Leibowitz and his associate Anthony Bova was voted Best Article in the 9th Annual Bernstein Fabozzi/Jacobs Levy Awards by the readers of JPM.
Leibowitz has written several books with various coauthors. In 1972, his first book, Inside the Yield Book, coauthored with Sidney Homer, a distinguished scholar of financial history, became an early standard in the bond field and went through 21 re-printings. A second edition was published in 2004 with a foreword by the noted economist, Henry Kaufman. In 2013, his recent work on Duration Targeting and return convergence led to Bloomberg Press publishing a third edition. Leibowitz’s other books include Investing, a volume of his collected writings, published in 1992 with a foreword by William F. Sharpe, the 1990 Nobel Laureate in Economics. In 1996, his book Return Targets and Shortfall Risks was issued by Irwin Co. In 2004, John Wiley & Co published Franchise Value, a compilation of studies on equity valuation. In 2008, Mr. Leibowitz co-authored a book which focused on active equity strategies, Modern Portfolio Management (John Wiley & Co.). Another volume, The Endowment Model of Investing, co-authored with Anthony Bova and Brett Hammond of TIAA-CREF, was published in 2010 by John Wiley & Co.,and Peking University Press then issued a Mandarin edition in 2012.
Mr. Leibowitz has received three of the CFA Institute’s highest awards: the Nicholas Molodovsky Award in 1995, the James R. Vertin Award in 1998, and the Award for Professional Excellence in 2005. In October 1995, he received the Distinguished Public Service Award from the Public Securities Association, and in November 1995 he became the first inductee into The Fixed Income Analyst Society’s Hall of Fame. He has received special Alumni Achievement Awards from The University of Chicago and New York University, and in 2003 was elected a Fellow of the American Academy of Arts and Sciences.
Mr. Leibowitz serves on the Boards of The Rockefeller Foundation and the Institute for Advanced Study in Princeton, NJ, and on the investment advisory committees of Singapore’s GIC, the Harvard Management Corporation, the Carnegie Corporation, and the IMF pension system.
Robert Litterman recently retired from his position as Chairman of the Quantitative Investment Strategies group of Goldman Sachs Asset Management.
Dr. Litterman is the co-developer, along with the late Fischer Black, of the Black-Litterman Global Asset Allocation Model, a key tool in the Investment Management Division's asset allocation process. Prior to moving to the Investment Management Division, Dr. Litterman was head of the firmwide Risk Department. Preceding his time in the Operations, Technology & Finance Division, he spent eight years in the Fixed Income Division's research department, where he was co-director. Before joining the firm in 1986, Dr. Litterman was an assistant vice president in the Research Department of the Federal Reserve Bank of Minneapolis and an assistant professor in the Economics Department at the Massachusetts Institute of Technology.
In May 2008, Dr. Litterman was honored by the CFA Institute Board with the Nicholas Molodovsky Award, which is presented periodically to individuals "who have made outstanding contributions of such significance as to change the direction of the profession and to raise it to higher standards of accomplishment."
Dr. Litterman is a member of the board of the World Wildlife Fund. He earned a BS in Human Biology from Stanford University in 1973 and a PhD in Economics from the University of Minnesota in 1980.
Dr. Litterman was named IAQF/SunGard Financial Engineer of the Year in 2008.
Robert Litzenberger is Professor Emeritus at the Wharton School of the University of Pennsylvania, and a Fellow of the American Finance Association. Bob currently serves as a consultant and board member of RGM Advisors, a high speed electronic trading firm.
After receiving his PhD. from UNC, Chapel Hill, Bob started his academic career at Carnegie-Mellon University. The following year, he joined the faculty of the Graduate School of Business at Stanford University where he eventually became C.O.G. Miller Distinguished Professor of Finance. At Stanford, he was very active teaching and advising PhD students. In 1986, he joined the faculty of the Wharton School at the University of Pennsylvania as the Edward Hopkinson Professor of Investment Banking. While on leave from Wharton, Bob served as Director of Research and Chief Economist at AIG-Financial Products and served on its Board of Directors. Upon returning to Wharton, he established a course in financial engineering.
Bob joined Goldman Sachs in 1995 as Director of Derivative Research and Quantitative Modeling in the Fixed Income Division. In 1998 he became Firm-wide Risk Manager and was actively involved in Goldman’s assessment of Long Term Capital’s portfolio. Bob became a Partner in 1999 and retired from an active role in late 2001. From 2002 to 2007 he served as an Executive Director of Azimuth Trust, a fund-of-funds for hedge funds. While at Azimuth he developed an analytical risk and allocation system that accounted for the fat tails associated with financial crises.
Bob was named Risk Manager of the Year by Risk Magazine in 2001 and inducted into their Risk Hall of Fame in 2003. He is a former president of both the American Finance Association and Western Finance Association. He has been on the editorial boards of the Journal of Financial Economics, the Journal of Finance and the Journal of Financial Quantitative Analysis. Bob has co-authored a doctoral level textbook on financial economics and published more than 50 articles in the leading academic finance journals, many of which were co-authored with former students.
Bob has three grown sons and three grandchildren. He lives with his wife Amy and a younger son in the middle of a large forest in Pike County, Pennsylvania.
Dr. Litzenberger was named IAQF/SunGard Financial Engineer of the Year in 2012.
University of Pennsylvania, American Finance Association
Andrew W. Lo is the Harris & Harris Group Professor of Finance at the MIT Sloan School of Management and the director of MIT's Laboratory for Financial Engineering. He received his Ph.D. in economics from Harvard University in 1984, and taught at the University of Pennsylvania's Wharton School as the W.P. Carey Assistant Professor of Finance from 1984 to 1987, and as the W.P. Carey Associate Professor of Finance from 1987 to 1988.
His research interests include the empirical validation and implementation of financial asset pricing models; the pricing of options and other derivative securities; financial engineering and risk management; trading technology and market microstructure; statistics, econometrics, and stochastic processes; computer algorithms and numerical methods; financial visualization; nonlinear models of stock and bond returns; hedge-fund risk and return dynamics and risk transparency; and, most recently, evolutionary and neurobiological models of individual risk preferences and financial markets.
He has published numerous articles in finance and economics journals, and is a co-author of The Econometrics of Financial Markets and A Non-Random Walk Down Wall Street, and author of Hedge Funds: An Analytic Perspective. He is currently an associate editor of the Financial Analysts Journal, the Journal of Portfolio Management, the Journal of Computational Finance, and Statistica Sinica. His awards include the Alfred P. Sloan Foundation Fellowship, the Paul A. Samuelson Award, the American Association for Individual Investors Award, the Graham and Dodd Award, a Guggenheim Fellowship, the CFA Institute's James R. Vertin Award, and awards for teaching excellence from both Wharton and MIT. He is a former governor of the Boston Stock Exchange, and currently a research associate of the National Bureau of Economic Research, a member of the NASD's Economic Advisory Board, and founder and chief scientific officer of AlphaSimplex Group, LLC, a quantitative investment management company based in Cambridge, Massachusetts.
Dr. Lo was named IAQF/SunGard Financial Engineer of the Year in 2001.
MIT Sloan School of Management
Harry M. Markowitz
Harry M. Markowitz is an American economist and a recipient of the John von Neumann Theory Prize and the Nobel Memorial Prize in Economic Sciences.
Dr. Markowitz is a professor of finance at the Rady School of Management at the University of California, San Diego (UCSD). He is best known for his pioneering work in Modern Portfolio Theory, studying the effects of asset risk, return, correlation and diversification on probable investment portfolio returns. Dr. Markowitz studied at the University of Chicago, earning PhB, MA, and PhD degrees in 1947, 1950, and 1954, respectively.
Daiwa Securities Trust Co.
Leo Melamed is globally recognized as the founder of financial futures. In 1972, as chairman of the Chicago Mercantile Exchange (CME Group), he launched currency futures with the creation of the International Monetary Market (IMM)—the first futures market for financial instruments. In the years that followed, Melamed led the CME in the introduction of a diverse number of financial instruments, including Treasury Bills in 1976, Eurodollars in 1981, and stock index futures in 1982. In 1987, Melamed spearheaded the introduction of Globex®, the world’s first futures electronic trading system, and became its founding chairman.
Twenty years after their inception, Nobel Laureate in Economics, Merton Miller, named financial futures as “the most significant innovation in the past two decades.” In 2010, Chicago Magazine selected Melamed in fourth place among a list of “40 Visionaries” during the past 40 years. In 2003, Pensions & Investments included Mr. Melamed in the list of 30 individuals whose contribution “made the most dramatic difference” in the management of money during the last 100 years. At the close of 1999, Melamed was named by the former editor of the Chicago Tribune, among the ten most important Chicagoans in business of the 20th Century.
The Chicago Mercantile Exchange, today the CME Group, where Melamed serves as Chairman Emeritus, is the world’s largest futures market. He is a member of its Board and is chairman of its Strategic Steering Committee Melamed has been an adviser to the U.S. Commodity Futures Trading Commission (CFTC) and has served as special adviser on futures markets to governments worldwide. Mr. Melamed serves on the Board of the Scholar Rescue Fund and the Chicago Renaissance School Fund. Mr. Melamed's prize winning memoirs Escape to the Futures (Wiley, 1996) have been published in Chinese, Japanese, Korean and Russian. He is also the author of Leo Melamed on the Markets (Wiley, 1993), The Tenth Planet (a science fiction novel, 1984), and For Crying Out Loud (a memoirs continuation, Wiley, 2009). He was editor of an anthology entitled The Merits of Flexible Exchange Rates (George Mason University Press, 1988).
Mr. Melamed is the recipient of numerous awards including the 2005 CME Fred Arditti Innovation Award. He holds Doctor of Letters, University of Illinois, 1999; Doctor of Humane Letters, Loyola University, 2000; an honorary degree in Doctor of Humane Letters, DePaul University, 2005. In 2007 he was appointed Honorary Dean of Beijing University. In 2008, he became the recipient of the Ellis Island Medal of Honor and the William F. Sharpe Lifetime Achievement Award. Leo Melamed is an attorney by profession and an active futures trader. He is chairman and CEO of Melamed & Associates, Inc., a global consulting enterprise.
Melamed & Associates
Robert C. Merton
Robert C. Merton is University Professor Emeritus at Harvard Business School, where he was the George Fisher Baker Professor of Business Administration from 1988 to 1998 and the John and Natty McArthur University Professor from 1998 until his retirement in 2010.
He is currently the School of Management Distinguished Professor of Finance at MIT’s Sloan School of Management, where he previously served on the finance faculty from 1970 until 1988. Merton is past President of the American Finance Association, a member of the National Academy of Sciences and a fellow of the American Academy of Arts and Sciences. He received the Alfred Nobel Memorial Prize in Economic Sciences in 1997 for a new method to determine the value of derivatives.
Professor Merton obtained a B.S. in Engineering Mathematics from Columbia University in 1966, a M.S. in Applied Mathematics from California Institute of Technology in 1967, and a Ph.D. in Economics from Massachusetts Institute of Technology in 1970. He holds honorary degrees from the University of Chicago and several foreign universities.
Dr. Merton was named IAQF/SunGard Financial Engineer of the Year in 1993.
MIT Sloan School of Management
Richard Roll is the Linde Professor of Finance at the California Institute of Technology. He is a professor emeritus at UCLA where held the Joel Fried Chair at the Anderson School. He is a principal of Compensation Valuation, Inc., and a board member of Western Asset Mortgage Capital Corp. Roll’s business experience also includes three years with the Boeing Company in the early 1960’s where he worked on the Minuteman missile and the Saturn moon rocket. During 1985-87, he was a vice president of Goldman, Sachs & Co., where he founded and directed the mortgage securities research group. He directed Roll and Ross Asset Management for twenty years. He has been a consultant for many US corporations, law firms, and government agencies.
Roll has a bachelor’s degree in aeronautical engineering from Auburn University and an MBA from the University of Washington. His academic career began in 1968 with a Ph.D from the University of Chicago. Subsequently, he was on the faculty at Carnegie-Mellon University, The European Institute for the Advanced Study of Management in Brussels, and the French business school, Hautes Etudes Commerciales, before joining UCLA in 1976. He retired from UCLA and joined Caltech in 2014.
Roll has published two books and more than 100 articles in peer-reviewed journals on a variety of topics. His 1968 doctoral thesis won the Irving Fisher Prize as the best American dissertation in economics. He has won the Graham and Dodd Award for financial writing (four times) and the Leo Melamed Award for the best financial research by an American business school professor. In 2009, he was named Financial Engineer of the Year by the International Association of Financial Engineers. He has received honorary doctorates from universities in both France and Germany. He is past president of the American Finance Association and is a fellow of the Econometric Society. He is currently or has been an associate editor of eleven different journals in finance and economics.
Richard Roll was named IAQF Financial Engineer of the Year in 2009.
Myron S. Scholes
Myron S. Scholes, the Frank E. Buck Professor Emeritus of Finance at the Stanford University Graduate School of Business, is widely known for his seminal work in options pricing, capital markets, tax policy, and the financial services industry. He is co-originator of the Black-Scholes options pricing model, which is the basis of the pricing and risk-management technology that is used to value and manage the risk of financial instruments around the world. For this work, he received the Alfred Nobel Memorial Prize in Economic Sciences in 1997.
An expert in finance and tax law, Professor Scholes is chairman of Oak Hill Platinum Partners, and a managing partner in the private and public investment groups of the Robert M. Bass organization. Oak Hill Platinum Partners, a hedge fund, specializes in providing inventory services in G7 fixed-income markets to the global banking and dealer communities. He received a PhD from the University of Chicago, where he went on to serve as the Edward Eagle Brown Professor of Finance, and has also taught at the MIT Sloan School of Management.
Dr. Scholes received IAQF/SunGard Lifetime Achievement Award in 2001.
Oak Hill Platinum Partners
Dr. Schwartz is among the first researchers to develop the real options method of pricing investments under uncertainty. He is co-editor, with Lenos Trigeorgis of the University of Cyprus, on the book Real Options and Investment Under Uncertainty (MIT, 2001), a compilation of recent papers and classic research in the field.
He is the winner of a number of awards for both teaching excellence and for the quality of his published work. He has served as associate editor for more than a dozen journals, including the Journal of Finance, Journal of Financial Economics and Journal of Financial and Quantitative Analysis. He is a former president of the Western Finance Association and the American Finance Association. He is a fellow of the American Finance Association and the Financial Management Association International. He is also a research associate of the National Bureau of Economic Research.
Dr. Schwartz was awarded a Doctor Honoris Causa by the University of Alicante in Spain and by the Copenhagen Business School. He also received the 2000 Graham and Dodd Award for his paper, “Rational Pricing of Internet Companies,” published in the Financial Analysts Journal. He has also been a consultant to governmental agencies, banks, investment banks and industrial corporations. Dr. Schwartz earned a Ph.D in finance and a M.Sc. in Business Administration from the University of British Columbia and a B.Eng. in industrial engineering from the University of Chile.
Dr. Schwartz was named IAQF Financial Engineer of the Year in 2015.
UCLA Anderson School of Management
William F. Sharpe
William F. Sharpe is the STANCO 25 Professor of Finance, Emeritus at Stanford University´s Graduate School of Business and Chairman, Financial Engines, Inc.. He joined the Stanford faculty in 1970, having previously taught at the University of Washington and the University of California at Irvine. In 1996, he co-founded Financial Engines, a firm that provides online investment advice to individuals.
He was one of the originators of the Capital Asset Pricing Model, developed the Sharpe Ratio for investment performance analysis, the binomial method for the valuation of options, the gradient method for asset allocation optimization, and returns-based style analysis for evaluating the style and performance of investment funds.
Dr. Sharpe is past President of the American Finance Association. In 1990 he received the Nobel Prize in Economic Sciences.
He received his Ph.D., M.A. and B.A. in Economics from the University of California at Los Angeles. He is also the recipient of a Doctor of Humane Letters, Honoris Causa from DePaul University as well as the UCLA Medal, UCLA's highest honor.
Dr. Sharpe is a trustee of the AXA Rosenberg mutual funds and serves as Chairman of the Board of Financial Engines, Incorporated.
James H. Simons
Jim Simons is President of Renaissance Technologies Corp., a private investment firm dedicated to the use of mathematical methods. Previously he was chairman of the Mathematics Department at the State University of New York at Stony Brook. Earlier in his career he was a cryptanalyst at the Institute of Defense Analyses in Princeton, and taught mathematics at MIT and Harvard University.
Dr. Simons holds a B.S. in mathematics from MIT and a Ph.D. in mathematics from the University of California at Berkeley. His scientific research was in the area of geometry and topology. He received the American Mathematical Society Veblen Prize in Geometry in 1975 for work that involved a recasting of the subject of area minimizing multi-dimensional surfaces. A consequence was the settling of two classical questions, the Bernstein Conjecture and the Plateau Problem. Dr. Simons' most influential research involved the discovery and application of certain geometric measurements, now called the Chern - Simons Invarients, which have wide use, particularly in theoretical physics.
Dr. Simons is the founder and Chairman of Math for America, a nonprofit organization with a mission to significantly improve math education in our nation's public schools. He serves as Trustee of Brookhaven National Laboratory, The Institute for Advanced Study, The Rockefeller University, and the Mathematical Sciences Research Institute in Berkeley. He is also a member of the Board of the MIT Corporation and Chair Emeritus of the Stony Brook Foundation. Together with his wife, Marilyn, Dr. Simons manages the Simons Foundation, a charitable organization devoted to scientific research.
Dr. Simons was named IAQF/SunGard Financial Engineer of the Year in 2006.
Renaissance Technologies Corp.
Oldrich Vasicek is a founding partner of KMV and currently advises Moody's Analytics. In his early career, he was a Vice President in the Management Science Department of Wells Fargo Bank. His academic career includes teaching graduate finance at the University of Rochester, the University of California at Berkeley and at Ecole Supérieure des Sciences Economiques et Commerciales in France. A native of the Czech Republic, he holds a Ph.D. in probability theory from Charles University in Prague.
Dr. Vasicek works in mathematical finance, particularly on development of quantitative models of firms, financial instruments and financial markets. His work is extensively cited and used in applications. He has published over 30 articles in financial and mathematical journals and has received a number of honors, including the Graham and Dodd Award, the Roger F. Murray Prize, the Award of the Institute for Quantitative Research in Finance and the Risk Magazine Lifetime Achievement Award. He has been inducted into the Derivatives Strategy Hall of Fame, the Fixed Income Analysts Society Hall of Fame and the Risk Hall of Fame. His equilibrium model of the term structure of interest rates is generally recognized as a genesis of this field in finance.
Dr. Vasicek was named IAQF/SunGard Financial Engineer of the Year in 2004.