Opalesque Industry Update -- The International Association of Financial Engineers (www.iafe.org) and SunGard (www.sungard.com) today announced that Robert F. Engle, the Michael Armellino Professor of Finance at New York University and 2003 Nobel Laureate for Economics, has been named the 2011 IAFE/SunGard Financial Engineer of the Year (FEOY). The award will be presented to Dr. Engle on February 2, 2012, at the New York Stock Exchange in New York City, during the IAFE/SunGard FEOY Award Gala Dinner. |
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."
Dr. Richard Lindsey, chairman of the IAFE, said, “Professor Engle is a terrific choice as Financial Engineer of the Year. His work combines the rigorous, intellectual approach of an academic with the practical, real-world view of a practitioner. His contributions to the every-day practice and application of financial engineering are even more important in today’s volatile world.”
Brian Traquair, president of SunGard’s capital markets business, said, “Robert Engle’s ARCH model is used by researchers and financial markets analysts around the world to help price assets and evaluate portfolio risk. Naming him the 2011 Financial Engineer of the Year recognizes these contributions to the industry, and SunGard is proud to continue to co-sponsor this important award.”
The annual IAFE/SunGard FEOY Award, established in 1993, recognizes individual contributions to the advancement of financial engineering technology. Nominations are submitted by a nominating committee of approximately 100 people, consisting of all the IAFE governing boards. They are then reviewed in a two step process by a selection committee of 25 members, including the IAFE board of directors and senior fellows. This year's selection committee was chaired by Dr. Richard Roll, an IAFE senior fellow and the 2009 FEOY award winner.