The bank for a changing world

BNP Paribas and Ecole Centrale Paris inaugurate the BNP Paribas Quantitative Finance Chair

  • 03.12.2007
Today, Georges Chodron de Courcel, Chief Operating Officer of BNP Paribas, and Hervé Biausser, Director of the Ecole Centrale Paris, are inaugurating the BNP Paribas teaching and research chair in quantitative finance. To mark the occasion, Frédéric Abergel, Director of this new chair, will present the inaugural lecture this evening on "Modelling in quantitative finance" in the BNP Paribas rooms at L'Orangerie.

The BNP Paribas Chair in Quantitative Finance marks the intersection of two goals: for BNP Paribas, the desire to become a leader in quantitative research and its applications in the derivative markets; and for the Ecole Centrale Paris, the goal to recruit the best scientific minds, backed by the School's research and its major industrial partners.
The BNP Paribas Chair in Quantitative Finance brings together mathematicians, economic physicists and specialists in the banking sector to offer an original approach to predictive analysis in finance. To achieve this goal, it relies on the quantitative research teams of the BNP Paribas group, who actively contribute to the growth and global leadership of the bank in the derivatives market, and the teams from the Applied Mathematics laboratory of the Ecole Centrale, whose expertise in modelling, algorithms and processing huge data volumes are widely recognised.

This research project includes a substantial educational investment in teaching and student projects in financial mathematics, as well as a broad series of events (colloquia, seminars, publications) intended for a public of experts, professionals and scientists.
With an operating budget of 1.5 million euros for a five-year period, the chair has two teaching researchers and three doctoral students to date. It also provides instruction to about sixty students at the Ecole Centrale Paris.

According to BNP Paribas Chief Operating Officer Georges Chodron de Courcel, "BNP Paribas intends to be a leader in strategic research areas for its development. This means that we have to work with the best scientists worldwide and attract the best students trained in these areas. In financial mathematics, it seemed natural to us to partner with Centrale Paris, which is one of the best schools in this specialty."

"We are particularly happy that one of the first chairs created at Centrale Paris is a partnership with BNP Paribas, one of the companies closest to the school," adds Hervé Biausser, Director of the Ecole Centrale Paris. "We are actively developing corporate chairs at Centrale Paris, because they expand our offer by combining education and research for our partner companies. They also facilitate the recruitment of top scientists, a crucial element in our international reputation."

About BNP Paribas
BNP Paribas (www.bnpparibas.com) is a European leader in global banking and financial services and is one of the 5 strongest banks in the world according to Standard & Poor's. The group is present in over 85 countries, with 161,000 employees, including 125,000 in Europe. The group holds key positions in three major segments: Corporate and Investment Banking, Asset Management & Services and Retail Banking. Present throughout Europe in all its business lines, the bank's two domestic markets in retail banking are France and Italy. BNP Paribas also has a significant presence in the United States and strong positions in Asia and the emerging markets.

About the Ecole Centrale Paris
With 1400 engineering students, a faculty of 200, 1300 corporate lecturers, its staff and alumni around the world, the Ecole Centrale Paris offers essential assets, including the quality and commitment of its students, the stringent requirements of its training program, and the excellence of its research center.
www.ecp.fr
Press contact(s)
Press contacts:

BNP Paribas
Hélène Delannoy
Tel: 33 1 40 14 65 14
@: helene.delannoy [at] bnpparibas (dot) com

Ecole Centrale Paris
Alexandrine Urbain
Tel.: 33 1 41 13 13 10 / 33 6 21 08 14 86
@: alexandrine.urbain [at] ecp (dot) fr