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Dr. Robert Engle Awarded the Financial Engineer of the Year Dinner at the IAFE/SunGard Gala Dinner on February 2nd, 2012
IAFE announces Berkeley team as winning the Annual Student Competition
New York, NY, February 3, 2012 -- The International Association of Financial Engineers (www.iafe.org) and SunGard (http://www.sungard.com) was pleased to honor Nobel Laureate Dr. Robert Engle as Financial Engineer of the Year last night at the IAFE/SunGard Gala Dinner. Dr. Engle was recognized for the theoretical and practical development of methods to study, understand, and control volatility in financial markets. He is the Michael Armellino Professor in the Management of Financial Services at the New York University Stern School of Business (http://www.stern.nyu.edu/rengle/).
Commenting on his 2011 FEOY award, Dr. Engle said, “"I am very pleased to be honored as Financial Engineer of the Year at this challenging time. The goals of improved risk management and responsible performance have never been more important."
There were 170 attendees joining the celebration at the New York Stock Exchange in New York City. The evening began with cocktails on the trading floor, followed by dinner and speeches in the main dining room.
Winner of Academic Competition on Sovereign Risk Announced
During the dinner, it was announced that a team of students from the University of California, Berkeley won the academic competition. Twenty-seven teams from fifteen Financial Engineering programs competed on the development of a sovereign credit risk model. Click here for full details. The competition received 27 papers from 15 universities. The Berkeley team receives a $1,000.00 prize and an invitation to present their solution at an IAFE event in New York.
The winning team is from the University of California, Berkeley, Haas School, Masters in Financial Engineering program. Team members are: Don Goonetilleke, Yang Guo, Xin Heng, Michael Pensky, Ji Tan, led by team captain, Charles Gorintin. The team worked under the direction of Executive Director, Linda Kreitzman.
Honorable mentions went to: a team from the Courant Institute at New York University, team members: Zhenyu Lu, ChakMing Justin Kung, Kensheen Kenneth Chen, led by team captain Yilin Dai (Program Director, Petter Kolm) and a team from the Rutgers Business School, Master of Quantitative Finance program, team members: Yi Fang, Menghai Yin, Junxu Ruan, Yanjiao Sun, Yang Song, led by team captain Norman Yu (Program Director Yangru Wu).
About the International Association of Financial Engineers (IAFE)
The IAFE is the not-for-profit, professional society dedicated to fostering the profession of quantitative finance by providing platforms to discuss cutting-edge and pivotal issues in the field. Founded in 1992, the IAFE is composed of individual academics and practitioners from banks, broker dealers, hedge funds, pension funds, asset managers, technology firms, regulators, accounting, consulting and law firms, and universities across the globe.
Through frank discussions of current policy issues, sponsoring programs to educate the financial community and recognizing the outstanding achievements in the field, the IAFE acts as a beacon for the development of quantitative finance. Throughout its history, the IAFE´s pre-eminent leadership has positioned it to respond with savvy to the evolving needs of the financial engineering community. The IAFE´s programs - from area-specific committees to monthly panel discussions to the Financial Engineer of the Year Award - are designed to provide its members with uniquely valuable activities to enhance their work in the field and opportunities to network and socialize with their colleagues.
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