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Tanaka Business School appoints world class faculty for new degree in Risk Management

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-Tanaka Business School

Immediate release
Wednesday 11 May 2005

Imperial College's Tanaka Business School has made three major new appointments to its world-class finance group to lead the new MSc Risk Management. Karim Abadir, Professor of Financial Econometrics, Nizar Touzi, Professor of Mathematical Finance and Andrea Buraschi, Professor of Finance will commence in September and further support the Finance Department and the School's Centre for Quantitative Finance.

Programme Director, Professor William Perraudin, is a leading international expert on the Basel proposals on bank capital, and has acted as a consultant to a wide range of major financial institutions:

"Risk management is, and will remain, one of the fastest changing fields in business," said Perraudin. "The new Basel proposals, plus new possibilities for firms to transfer risk, have transformed the way banks think about risk. This has created a role for a new type of risk manager, one who is conversant with modern risk models and capable of understanding and designing risk mitigation strategies."

Karim Abadir, an Oxford DPhil, currently holds chairs in the Economics and Maths Departments at York University, where he is head of the Statistics Group. He is Associate Editor of the Journal of Financial Econometrics and of Econometric Theory; and has published in journals such as Econometrica, Review of Economic Studies, Econometric Theory, and the Journal of Econometrics.

Nizar Touzi is currently Head of Finance and Insurance at CREST in Paris. He holds a PhD from University of Paris and is Associate Editor of Mathematical Finance, the Journal of Financial Econometrics, and Finance and Stochastics. He has published in journals such as Mathematical Finance, Finance and Stochastics, and Annals of Applied Probability and is considered world class in his field.

Andrea Buraschi holds a PhD from the University of Chicago and is currently visiting Associate Professor of Finance at Columbia University and was formerly Assistant Professor of Finance at London Business School. He has an outstanding record of publication in top journals and is a leading expert in capital markets research.

Perraudin said the course was attracting strong applications: "Our MSc Risk Management is the first rigorous graduate level qualification specifically designed to equip risk managers for the exciting new role they face - and a well paid one. According to a new survey by New York based executive recruiting firm Risk Talent associates, the average risk professional's total compensation has increased by 15% this year over last (1)".

"It provides the competitive edge because it is new, answers a need from the City and because no other programme can match this combination of teaching through leading academics and proven practitioners from Standard & Poor's."

For further information contact:

Susie Haywood
Press and PR Manager, Tanaka Business School
Tel:+44 (0)20 7594 9154
Mob:+44 (0)7739 851 881

Notes to editors

For more information on the MSc Risk Management course, go to

About Tanaka Business School

The business of science, the science of business

Consistently rated in the top three UK university institutions, Imperial College London is a world leading science-based university whose reputation for excellence in teaching and research attracts students (11,000) and staff (6,000) of the highest international quality.
Innovative research at the College explores the interface between science, medicine, engineering and management and delivers practical solutions that enhance the quality of life and the environment - underpinned by a dynamic enterprise culture.

Imperial's Tanaka Business School is a world-class provider of business education and research, focusing primarily on Imperial strengths in innovation and entrepreneurship, finance, and healthcare management. It offers full-time and executive MBAs, Masters programmes in Finance, Risk Management, Health Management and Management; and a PhD programme. The Financial Times currently ranks Tanaka Business School as 4th in Europe for research excellence, 10th in the world for its Executive MBA and 1st in Europe and 5th in the world for entrepreneurship.