French
Institute Alliance Française, Invest
in France Agency North America, and the
French Desk of Baker & McKenzie LLP, invite you to
a thought-provoking presentation on the dangers of financial
markets failing to remain current with the scale and increased
complexity of the new financial instruments.
Risk management is a vital element in both the pricing
and stability of derivatives and other complex securitized
structures. The exponential growth of these instruments has
brought tremendous profit opportunities but also considerable
credit risks. If not properly understood, we are threatened
with an unmanageable level of systemic risk in the global
financial system with potentially dire consequences in the
event of a prolonged financial and credit meltdown.
Moderator:
John Authers
Investment Editor, Financial Times
John Authers is the FT’s principal commentator on markets
and investments, responsible for the daily Short View and
weekly Long View columns. He also writes columns for FT Fund
Management and the FT’s Wealth Quarterly, and contributes
other commentary to the paper. His beat cover world markets,
including stocks, bonds, commodities, foreign exchange, derivatives,
wealth management, stock exchanges, and fund management.
Authers received his MBA from Columbia Business School, and
an MS from Columbia School of Journalism. He graduated from
University College, Oxford, with a degree in Philosophy,
Politics and Economics.
Panelists:
Pierre-André Chiappori
E. Rowan and Barbara Steinschneider Professor of Economics,
Columbia University
A graduate from Ecole Normale Supérieure, Pierre-André Chiappori
has been a senior researcher at the French National Research
Center and a Professor at ENSAE. Between 1992 and 1997, he
was in charge of one of the first three Chairs in Insurance
Economics created by the French Federation of Insurance Companies.
He then became a Professor at the Department of Economics
of the University of Chicago and an editor of the Journal
of Political Economy. He is currently the E. Rowan
and Barbara Steinschneider Professor of Economics at Columbia
University. Chiappori is the author of three books including Risque
et Assurance (Flammarion), awarded the CHEA Prize of
the best book on insurance in 1997. He is a member of the
Scientific Board of Institut Europlace de finance, Association
française de gestion financière, Observatoire
de l'épargne européenne and AXA Research
Fund.
Rama Cont
Director, Center for Financial Engineering, Columbia
University
Rama Cont joined Columbia University’s Industrial Engineering
and Operations Research Department in 2006, after previous
positions as CNRS research scientist at Centre de Mathématiques
Appliquées, Ecole Polytechnique (France),
and visiting professor at Princeton University. His research
currently focuses on stochastic modeling and computational
methods in finance, inverse problems and model uncertainty,
random graphs and social networks. He is the co-author of Financial
Modeling with Jump Processes (CRC Press 2003) and Credit
Derivatives and Structured Credit (Wiley 2005).
Richard D. Rudder
Partner, Baker & McKenzie LLP
Dick Rudder is a Partner at Baker & McKenzie (New York)
and a member of the firm’s U.S. Banking, Finance and
Major Projects Group. A graduate of Lafayette College and
NYU School of Law, he has chaired and lectured at numerous
industry conferences in the U.S. and abroad. Rudder concentrates
his practice in asset-backed transactions such as intellectual
property as well as residential and commercial mortgage-backed
securities. He has crafted many first-of-a-kind transactions,
including, most recently, the first securitization of music
royalties, first commercial mortgage conduit securitization,
first pay-through bond transaction, and first multi-provider
health care transaction. |
