2009 Headlines
Professor Robert Jarrow Receives Lifetime Achievement Award
RISK Magazine cites his innovative models and popularization of the modern discipline of mathematical finance
January 15, 2009 | Ithaca, NY | The Johnson School at Cornell University is proud to announce that Robert Jarrow, the Ronald and Susan Lynch Professor of Investment Management and Professor of Finance and Economics has been awarded the RISK Magazine 2009 Lifetime Achievement Award.
According to the article published in the January edition of RISK Magazine, the award is given in recognition of Professor Jarrow's "work in helping to develop innovative models now used by dealers, investors and regulators, alongside his role in the creation and popularization of the modern discipline of mathematical finance." Jarrow, along with David Heath and Andrew Morton developed the Health-Jarrow-Morton (HJM) framework for pricing interest rate-sensitive instruments that is now recognized as the leading model for assessing interest rate risk. Jarrow also has made significant contributions in the modeling of credit risk, publishing the first paper using a reduced form model. Reduced form models are now used extensively in the financial industry to manage credit risk.
Professor Jarrow is an advisory editor for Mathematical Finance, a journal he helped found, and an associate editor for numerous other finance journals. His research has won numerous awards including the Graham and Dodd Scrolls Award 2001 and the CBOE Pomerance Prize in 1982. In 1997, he was named IAFE Financial Engineer of the Year in recognition of his research accomplishments. He is currently a senior fellow at the International Association of Finance Engineers and the Federal Deposit Insurance Corporation as well as director of research for Kamakura Corporation. He is in the Fixed Income Analysts Society Hall of Fame, RISK Magazine's 50 member Hall of Fame, and listed in the Who's Who of Economics. He serves on various corporate board of directors and advisory boards.
