At London Financial Studies we are able to attract prominent practitioners and academics all of whom have a clear and thorough grasp of their subjects and wide practical experience. They are all expert communicators with the ability to impart their knowledge in a clear and engaging way.
Volatility: Trading and Managing Risk (New York)
Volatility: Trading and Managing Risk (London)
Dr Simon Acomb has over 16 years experience in quantitative finance. He started his career in finance at Barclays deZoete Wedd in 1992 in the Equities Derivatives Group and progressed to run the quantitative research team.
This was followed by five years at Commerzbank where he established a derivatives proprietary trading team and then became head of the equity quantitative research group. Most recently Simon has been a managing director at Morgan Stanley as global head of the Equities Analytic Modelling Group. He now works as a consultant and trainer in mathematical finance.
Strategic ALM, Treasury and Capital (Singapore)
Basel III: New Regulatory Requirements (Singapore)
Strategic ALM, Treasury and Capital (New York)
Macro Drivers of Asset Performance and Global TAA Strategy (New York)
William Blair Santos Allen has over 33 years working in banking and finance. He is a senior consultant in the areas of executive bank management, ALM, treasury, risk management, capital markets, derivatives, and portfolio management.
Mr Allen previously worked with JP Morgan in London in treasury, capital markets, risk management, securities and derivatives activities. Before joining Morgan, Mr Allen worked as a portfolio manager and chief investment officer of a university endowment. William Allen pursued his MBA and DBA studies in capital markets and finance at the Harvard Business School, and was involved in various research and teaching roles, as well as post-doctoral studies in monetary economics. He received the Elijah Watts Sells Award and the John S. Glenn Gold Medal for outstanding performance on the CPA examination at Ernst & Ernst. Mr Allen was awarded the Robert Beyer Bronze Medal for outstanding performance on the CMA examination, earned the Chartered Financial Analyst designation, and has the CFA’s Certificate in Investment Performance Management. He participates and is certified in the Global Association of Risk Professionals (GARP) and the Professional Risk Management International Association (PRMIA).
Macro Drivers of Asset Performance and Global TAA Strategy (London)
Andrew Bevan has over 30 years of work experience in financial markets, having held various senior positions at major investment banks. In 1994, Andy was appointed Director of International Bond Research at Goldman Sachs in London.
He was appointed Managing Director in 2000 and became Head of Global Markets Research, producing research and trading strategy for foreign exchange, money markets, government and corporate bonds. In 2005 he started an independent consulting company, before joining Fulcrum Asset Management as Research Director in 2006. Andy is also a part-time lecturer in fixed income at the International Capital Markets Association (ICMA) Centre. His research interests include exchange rate modelling and the integration of term structure theory with models of the business cycle in the macro-finance literature. He holds a first class BA in economics and a PhD in international monetary economics from City University.
Werner De Bondt
Behavioural Finance and Equity Investment Strategies (London)
Werner F.M. De Bondt is director of the Richard H. Driehaus Center for Behavioral Finance at De Paul University in Chicago and one of the founders of the field of behavioral finance. Between 1992 and 2003, he was the Frank Graner Professor of Investment Management at the University of Wisconsin-Madison.
Dr. De Bondt studies the psychology of investors and financial markets. His research is interdisciplinary. Werner De Bondt has examined key concepts of bounded rationality, e.g., people's tendency to exaggerate the true impact of new information, their bent towards wishful thinking, or their biased perceptions of risk. De Bondt's research articles have appeared in many scholarly journals. Werner De Bondt is a frequent speaker to academics and investment professionals around the world. He holds degrees in economics, engineering, and public administration, as well as a Ph.D. in Business Administration from Cornell University (1985).
Interest Rate Derivatives 1: Hedging and Managing Risk (London)
Interest Rate Derivatives 1: Hedging and Managing Risk (New York)
Cheryl Brown is one of LFS’s most experienced lecturers. Formally with Bank of America she spent ten years as a derivatives trader and client advisor and has subsequently had extensive experience of teaching at a senior level in the areas of fixed income derivatives, interest rate risk management and foreign exchange.
Cheryl graduated with a B.Sc. in Physics from University College London and before moving to the front office she developed Money Market processing systems for the bank.
John Calverley is head of research for North America at Standard Chartered Bank and was formerly chief economist at American Express Bank. John is a renowned economist and an inspirational teacher. He is also a well-known commentator on economics, appearing frequently on CNN, CNBC and Bloomberg.
His books "Bubbles and How to Survive Them" and the 2009 sequel "When Bubbles Burst" are hugely popular, very readable and at the same time extremely rigorous accounts of the recent financial turmoil. His Investors Guide to Economic Fundamentals (Wiley, 2002) analysed the links between economic variables and financial markets. John is a contributor to the CFA Institute Investment Series volume, Managing Investment Portfolios, edited by John Maginn and Donald Tuttle and an advisor to the CFA Institute on the CFA curriculum. During 2000-3 he was Chairman of the UK Society for Business Economists and from 1997-2007 a Council Member of SUERF, the European Money and Finance Forum. Born and raised in the UK, educated at Cambridge University and Washington University, he now lives in Toronto. Wiley Finance Published Author.
Alberto Cherubini was Head of Equity Derivatives Exotic Trading at Citigroup, London, and as such he is among the handful of people across the globe with the unique experience of running a wholesale structured book during the severe market crisis of 2008.
In his career he has traded most financial instruments, worked as a senior quant, a researcher in Nuclear Fusion (at JET Joint Undertaking), developed software in areas ranging from computational physics to industrial automation and neural networks, and received a PhD in Physics from Bologna University. Cherubini is currently the principal consultant at EQ Finance, which he started in 2009, and teaches equity derivatives on the Masters in Mathematical Finance at the University of Bologna.
Advanced Fixed Income Attribution (London)
Dr. Andrew Colin is one of the world’s leading experts on attribution. He has worked in the field since 1998 and is a highly influential figure in this business critical field, having designed several leading attribution systems and written the first textbook on the subject.
Andrew holds a PhD in Mathematics, is Fellow of the IMA and a Chartered Mathematician, and is adjunct professor in the Faculty of Accounting at the University of Tasmania. He is a practiced presenter and has delivered courses on attribution and the fixed income markets to audiences world-wide, including top tier banks in Europe and Asia. His new book, ‘The Handbook of Fixed Income Attribution’ will be published in 2013. Wiley Finance Published Author.
Dr. David Cox has wide practical experience of the financial markets and an international reputation as a teacher of high-level short courses to the financial sector. His career includes ten years in banking, primarily with Bank of America Capital Markets.
After leaving The City he joined the staff of London Business School, as part of LBS Financial Software Ltd, where he set up the financial markets seminar programme and engaged in doctoral research. Dr. Cox runs regular seminars for the International Center for Financial Asset Management and Engineering in Geneva and specialises in quantitative techniques, risk management and derivative products. Clients include central banks, a wide range of international investment and commercial banks and broking houses. He is also a director of LFS.
Intermediate Mathematics: Understanding Stochastic Calculus (London)
Dan Crisan is a Professor in Mathematics at Imperial College London. His expertise is in the area of Stochastic Analysis with applications in Engineering and Finance. He has published over 30 articles in journals world-wide and his current research involves developing high-order numerical algorithms for solving stochastic and deterministic partial differential equations, approximating schemes for backward stochastic differential equations and particle methods for nonlinear filtering.
His book "Fundamentals of Stochastic Filtering" was published by Springer Verlag in their prestigious series Stochastic Modelling and Applied Probability. He has just completed the editorial work on "The Oxford Handbook of Nonlinear Filtering" - an advanced monograph on the subject. Professor Crisan is a member of the editorial board of the Journal of Mathematics and Computation published by the London Mathematical Society. He has developed and taught a course on Numerical Stochastics within the MSc programme in Mathematical Finance at Imperial College London.
Dr Zareer Dadachanji is a quantitative analysis consultant with nearly 2 decades of corporate experience, mostly in financial quantitative modelling across a range of asset classes. He spent 13 years working as a front-office quant at banks and hedge funds, including NatWest/RBS, Credit Suisse and Standard Chartered Bank, where until recently he held the position of Global Head of FX Quants.
Zareer’s specialist areas of expertise are the modelling of FX and Equity derivatives. He combines these specialist areas with a wide knowledge of general quantitative modelling, gained through years of senior-level engagement in the activities of global cross-asset quant teams. Zareer is the founder and director of Model Quant Limited, an independent consultancy providing bespoke financial quantitative analysis solutions. He holds a triple first in Natural Sciences and a PhD in Computational and Theoretical Physics, both from the University of Cambridge.
Managing Global Commodities Risks and Riding the Spikes (London)
Managing Global Commodities Risks and Riding the Spikes (New York)
Helyette Geman is the Director of the Commodity Finance Centre at the University of London and Johns Hopkins University. She is a graduate of Ecole Normale Superieure in Mathematics, holds a Masters degree in Theoretical Physics and a PhD in Probability from the University Pierre et Marie Curie; a PhD in Finance from the University Pantheon Sorbonne.
Professor Geman has been a scientific advisor to major financial institutions, insurance companies and energy, commodity and mining companies for the last 21 years, covering the spectrum of interest rates, catastrophic risk, crude oil and natural gas, metals and agriculturals, including fertilizers and land. She was for five years Head of Research at Caisse des Depots in Paris, then has consulted for a large number of mining, oil companies and commodity houses, including Louis Dreyfus, BHP Billiton, EDF Trading, Bunge and Office Cherifien des Phosphates. Prof Geman has published 126 papers in top international finance and insurance Journals including the Journal of Finance, Mathematical Finance, Geneva Papers on Insurance, Journal of Financial Economics and was named in 1993 Member of Honour of the French Society of Actuaries. Her research includes catastrophic insurance, commodity spot and forward curve modeling, valuation of physical assets in the mining and agriculture industry, as well as exotic option pricing for which she won the first prize of the Merrill Lynch Awards in 1995. Prof Geman was named in 2004 in the Hall of Fame of Energy Risk. Her book Commodities and Commodity Derivatives: Energy, Metals and Agriculturals published by Wiley Finance in 2005 has become the reference in the field. Prof Geman is a Member of the Board of the UBS-Bloomberg Commodity Index. She counts among her PhD students Nassim Taleb, author of the Black Swan. She published in 2008 the book Risk- Management in Commodity Markets: from Metals to Agriculturals and Energy. Prof Geman became in 2010 a Scientific Adviser to the European Union for Agricultural Commodities Wiley Finance Published Author.
Counterparty Credit Risk: CVA, Collateral, Basel 3 and Funding (London)
Counterparty Credit Risk: CVA, Collateral, Basel 3 and Funding (New York)
Dr Jon Gregory has over ten years experience as a practitioner in quantitative finance and is a partner at the capital markets consultancy Solum Financial Partners. From 1995 to 1997 he worked in the Fixed Income division of Salomon Brothers.
From 1997 to 2005 he was with BNP Paribas and worked on many projects across the interest rate, equity, credit, insurance and risk management divisions. From 2005 until 2008 he was global head of credit analytics at Barclays Capital and responsible for a team of around 30 researchers globally. Jon has published a number of papers and articles on risk management, modelling and credit derivatives subjects and is a regular speaker at international conferences. He was a co-author of the book "Credit: A Complete Guide to Pricing, Hedging and Risk Management", nominated in 2001 for the Kulp-Wright award for the most significant text in risk management and insurance. He holds a PhD from Cambridge University. He is the author of "Counterparty Credit Risk: The new challenge for global financial markets" published by Wiley Finance and now in its second edition. Wiley Finance Published Author.
The Impact of Economic Data on Financial Markets (London)
Jeremy Hawkins is a highly experienced and widely respected senior practitioner with a wealth of experience at the sharp end of economic forecasting. Until very recently he was Chief Economist for Europe and head of European FX and short term interest rate strategy at Bank of America.
Situated in BoA's London dealing room, his numerous appearances on CNN and the BBC provided practical and entertaining on-the-spot interpretations of a wide range of economic data and market sensitive events. Jeremy's ability at communicating ideas to his audience is well known and his reputation for "getting the numbers right" is legendary.
Credit Derivatives and Credit Structured Products (New York)
Advanced Risk Management Practices in Asset Management (New York)
Model Risk Management - Best Practices (New York)
Andre Horovitz is the Founder of Financial Risk Fitness and has over 20 years experience in the financial services industry. Mr. Horovitz started his banking career at Lehman Brothers where he was responsible for pricing, developing hedging strategies and marketing exotic interest rate derivatives.
He subsequently held senior executive positions at Oliver, Wyman & Co., Commerzbank, HVB Group (currently part of Unicredit), Nagler & Company and was Chief Risk Officer at Erste Bank and Credit Suisse. He is a frequent speaker at conferences and a contributor to various industry journals. His areas of expertise cover all classes of financial risk management including overall institutional strategy. Mr. Horovitz holds an Engineering Diploma in Hydraulics from The Technical University Bucharest and an MBA in Finance from Stern Business School.
Advanced Modelling and Analysis of Commodity Derivatives (London)
Peter Leoni graduated with a PhD in mathematical physics and then stumbled into the fascinating world of finance. He started his professional career in Belgium working for KBC Asset Management as a risk manager, modelling equity and interest rate derivatives.
Later on he moved to ING as a front office quant on the exotic derivatives desk and even before the credit crunch hit, he decided Energy modelling has a lot of unsolved issues and he chose to change his career path towards commodities, and energy in particular. He spent 4 years in the trading unit of GDF Suez in Brussels. After this, he worked for a private fund in Geneva, Macquarie Bank in London and currently for the London/Geneva office of a privately owned trading firm. Since 2011 he also holds a position of visiting professor for the Catholic University of Leuven in Belgium.
Advanced Modeling and Analysis of Commodity Derivatives (New York)
High Frequency Trading (New York)
High Frequency Trading (London)
Dr. Iris Mack is a former Derivatives Quant/Trader who has worked in financial institutions in the U.S., London and Asia. She earned a Harvard doctorate in Applied Mathematics and a London Business School MBA, and is also a former MIT professor.
Dr. Mack has held several speaking engagements in the USA and overseas, and delivers workshops globally in the fields of quantitative finance, energy derivatives and high frequency trading. Dr. Mack is under contract with the Global Finance Division of John Wiley & Sons Publishers to write a book entitled "Energy Trading and Risk Management." She is also an Energy Derivatives and Quantitative Investment consultant.
Advanced Liquidity Risk, Stress Testing and Pricing (New York)
Advanced Liquidity Risk, Stress Testing and Pricing (London)
Leonard Matz is an independent liquidity risk consultant. Previously, Leonard was the international director of liquidity risk consulting for Kamakura Corporation followed by a similar role at SunGard BancWare.
He began his career as an Examiner for the Federal Reserve of Cleveland and subsequently spent 15 years in senior risk management assignments at three US banks. Many know him from his influential books on liquidity management and ALM, including “Liquidity Risk Measurement and Management: Basel III and Beyond” and “Self-Paced Training Guide to Asset/Liability Management”. Leonard has worked with bankers on 6 continents to review and revise their liquidity risk measurement, contingency planning, policies, documentation, and reporting. Bankers and regulators worldwide acknowledge Leonard’s influence on liquidity best practices.
Massimo Morini is currently Head of Interest Rates, Credit and Inflation Models at Banca IMI Intesa San Paolo (where he is also responsible for coordinating Model Research). Massimo is a Professor of fixed income at Bocconi University and was Research Fellow at Cass Business School of London City University.
He holds a PhD in Mathematics and a MSc in Economics. Morini regularly delivers advanced training on credit modelling, interest rate market models, correlation modelling and model risk. Over the past years he has led workshops on financial modelling and the credit crunch in the main international finance conferences. His papers appeared on journals including Risk Magazine, Mathematical Finance, the Journal of Derivatives and Applied Mathematical Finance.
Eleanor J. Morrison
Eleanor J. Morrison is a commodity trading professional with 15 years experience in international commodity markets. Most recently she has traded European commodity products for Lehman Brothers in London and New York and Goldman Sachs in New York.
Prior to that, Eleanor worked in commodity trading as a portfolio manager, product structurer, and quantitative model developer with Powerex, the largest mover of physical electricity in North America. She has a BSc in Chemical Engineering from University of Waterloo, Canada and an MBA from University of British Columbia, Canada. She is an experienced international presenter on commodity markets.
Dr Rick Nason is a highly experienced practitioner and academic. Rick created the group and was Head of Credit Derivatives at the Bank of Montreal and he has extensive experience in all fields of derivatives.
Rick is currently an Associate Professor of Finance at Dalhousie University in Canada and continues to be actively involved in derivative research, consulting and training. His particular expertise is in exotic derivatives, equity derivatives and corporate risk management. Rick is an inspirational lecturer with an international reputation. An Associate Professor of Finance at Dalhousie University, he has also taught at The University of Toronto, The University of Western Ontario and The Rotterdam School of Management.
Volatility: Trading and Managing Risk (London)
Prof. Ser-Huang Poon is a Professor of Finance at Manchester Business School and has held several visiting appointments at universities in the U.S., Canada, the Netherlands, and Singapore. She is internationally renowned for her volatility research.
Her work, with Nobel laureate Clive Granger, was cited on the Nobel web site as reference reading in volatility, and has won the Financial Analysts Journal Graham and Dodd Scroll Award for Excellence for 2005. She has published papers in international top ranking journals and has written three books, including a Wiley book on forecasting volatility. Wiley Finance Published Author.
Accounting for Derivatives in Practice under IFRS9 (London)
Juan Ramirez is a senior professional at one of the big 4 auditing firms with first hand experience of current accounting and hedging issues. Previously, he was responsible for the marketing of strategic equity derivatives to the Iberian corporate and institutional clients at BNP Paribas in London.
With an MBA from University of Chicago, Juan moved to London to work at JP Morgan (Chase) and later Lehman Brothers, Barclays Capital and Banco Santander. Mr. Ramirez has devoted more than 20 years to marketing structured derivatives solutions, including commodity, credit, equity, fixed income and FX. He witnessed how the first time adoption of IFRS in 2005 greatly changed the way European entities made their hedging decisions using derivatives. Since then he’s been helping entities to minimise the accounting impact of highly structured derivatives transactions. Wiley Finance Published Author.
Equity Structured Products: Design, Pricing and Implementation (London)
Convertible Bonds and Securities (London)
Advanced Modelling and Analysis of Commodity Derivatives (London)
Professor Schoutens is Research Professor in financial engineering in the Department of Mathematics at the Catholic University of Leuven, Belgium. He has extensive practical experience of model implementation and is well known for his consulting work in the banking industry.
Wim is also the author of Lévy Processes in Finance: Pricing Financial Derivatives and co-editor of Exotic Option Pricing and Advanced Lévy Models both published by Wiley. His research interests cover all areas of financial mathematics, and recent publications cover jump driven credit models as well as equity models, model risks, hedging of exotics and multivariate financial modelling. He is also an independent expert advisor to the European Commission (DG-Competition) on “State aid assessment of valuation of impaired assets and of asset relief measures” and is a Managing Editor of the International Journal of Theoretical and Applied Finance and Associate Editor of Mathematical Finance and Review of Derivatives Research. Wiley Finance Published Author.
Maths Refresher for Finance (London)
Tony Sims has wide experience of teaching mathematical methods to students at all levels. He is MBA Course Director at Kingston University Business School and has been involved in delivering both short course and management development programmes for over 20 years.
During this time he has acquired considerable practical experience through consulting projects in financial model development for business. Tony's teaching methods are both engaging and effective and he is well known for his skill in teaching mathematical concepts to people without a quantitative background.
Jan De Spiegeleer
Hybrid Products: Valuation and Risk Management (London)
Convertible Bonds and Securities (London)
Convertible Bonds: Issuing, Pricing and Investing (New York)
Jan De Spiegeleer (Geneva, Switzerland) is head of risk management at Jabre Capital Partners, a Geneva-based hedge fund. He gained extensive knowledge of derivatives pricing, hedging and trading while working for KBC Financial Products in London, where he was managing director of the equity derivatives desk.
He also ran his own market neutral statistical arbitrage hedge fund (EQM Europe) after founding Erasmus capital in 2004. He holds a Masters Degree in Civil Engineering (Royal Military Academy- Brussels - Polytechnic Division - 1988) and an MBA (Catholic University Leuven - 1994). Wiley Finance Published Author.
Modern Asset Allocation & Portfolio Construction (London)
Andreas Steiner has over 10 years of practical experience in investment management. He held various performance and risk-related roles in banks and fund companies and was Head of Investment Risk Management at a private bank in Switzerland.
Andreas is an independent consultant specialising in investment performance and risk management. He is an external lecturer at the Zurich University of Applied Sciences, delivering courses on portfolio theory, performance analysis, international investing and Behavioural Finance. Andreas publishes research on a wide range of investment topics. His latest publication is "Risk Parity for the Masses" in The Journal of Investing. His book “Advanced Portfolio Analytics - New Methods for Measuring, Analysing and Managing Investment Performance and Risk” will be published in 2013. Mr. Steiner holds a Master's degree magna cum laude in Economics from the University of Zurich with specialisations in Monetary Economics and Financial Markets. Additionally, Andreas is a member of various industry associations related to investment performance and risk.
Bank Stress-Testing, Analysis and Valuation (New York)
Bank Stress-Testing, Analysis and Valuation (London)
Bank Stress-Testing, Analysis and Valuation (Singapore)
Rupesh Tailor has a variety of experience working for sell-side and buy-side financial institutions, spanning analysis, trading and portfolio management of credit and equity products. Rupesh has focused on the European bank sector for the past twelve years at Goldman Sachs, Barclays Capital, Merrill Lynch, Auriga Investors and Morgan Stanley.
Rupesh has applied the bank stress-testing, analysis and valuation techniques taught in this course to successfully predict banking stress in Iceland, Ireland and Spain in recent years.
FX Exotic Options (Singapore)
FX Exotic Options (London)
Professor Wystup is an extremely experienced practitioner in the field of foreign exchange options, a senior academic and a highly engaging teacher. He has twenty years of financial markets experience as consultant, financial engineer, trader and structurer at UBS, Sal.
Oppenheim and Commerzbank and is also Professor of quantitative finance at Frankfurt School of Finance & Management and Associate Fellow at Warwick Business School. Uwe is well known for his many publications on FX exotics and related topics: his 2002 book on Foreign Exchange Risk has become a market standard, including a translation in Mandarin. His second book on FX Options and Structured Products appeared in November of 2006 as part of the Wiley Finance series and a copy will be available for delegates. Wiley Finance Published Author.