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The Program for Financial Studies is governed by an eight-member academic advisory board responsible for the intellectual leadership of the program. Working together, board members identify opportunities for collaboration across the School’s academic divisions, evaluate opportunities for new initiatives, and make recommendations relating to the allocation of research funds.
Academic Board Members
Laurie Simon Hodrick, Founding Director and Chair of the Advisory Board of the Program for Financial Studies
Charles Calomiris, Curriculum Director of the Program for Financial Studies
Paul Glasserman, Research Director of the Program for Financial Studies
Andrew Ang, Academic Board Member
Mark N. Broadie, Academic Board Member
Robert Hodrick, Academic Board Member
Charles Jones, Academic Board Member
M. Suresh Sundaresan, Academic Board Member
Laurie Simon Hodrick
Founding Director and Chair of the Advisory Board of the Program for Financial Studies
A. Barton Hepburn Professor of Economics in the Faculty of Business (Finance and Economics)
Professor Hodrick is known for her ground-breaking research on corporate financial decisions, with a particular interest in share repurchases and dividends, takeovers, and equity offerings. She has been awarded numerous research awards and grants, including the National Science Foundation Presidential Young Investigator Award. She has also received many awards for teaching excellence, including Columbia University’s Presidential Teaching Award in 2006 and the Singhvi Prize for Scholarship in the Classroom at Columbia Business School three times (1997, 2005, and 2006). From 2006-2008, Professor Hodrick was a managing director at Deutsche Bank, where she was global head of alternative investment strategies.
Professor Hodrick received a BA in Economics from Duke University and a PhD in Economics from Stanford University.
Curriculum Director of the Program for Financial Studies
Henry Kaufman Professor of Financial Institutions (Finance and Economics)
Professor Calomiris's research and teaching span the areas of banking, corporate finance, financial history, and monetary economics. He is also a Professor at Columbia’s School of International and Public Affairs and a Research Associate of the National Bureau of Economic Research. He is a member of the Shadow Financial Regulatory Committee, the Shadow Open Market Committee, the Financial Economists Roundtable, and the Task Force on Property Rights at the Hoover Institution. He has held other positions at the Council on Foreign Relations, the American Enterprise Institute, and the Pew Trusts. He also served on the International Financial Institution Advisory Commission, a US Congressional commission that advised the U.S. government on the reform of multilateral institutions in 1999-2000. In 2011, he was the Houblon-Norman Senior Fellow at the Bank of England.
Professor Calomiris received a BA in Economics from Yale University and a PhD in Economics from Stanford University.
Research Director of the Program for Financial Studies
Jack R. Anderson Professor of Business (Decision, Risk, and Operations)
Professor Glasserman's research and teaching address risk management, the pricing of derivative securities, Monte Carlo simulation, statistics and operations. Prior to joining Columbia, Glasserman was with Bell Laboratories; he has also held visiting positions at Princeton University, NYU, and the Federal Reserve Bank of New York. Professor Glasserman serves on the editorial boards of Finance & Stochastics, Mathematical Finance, the Journal of Computational Finance, and the SIAM Journal on Financial Mathematics. He chairs the Education Committee of PRMIA, the Professional Risk Managers International Association. Professor Glasserman was senior vice dean of Columbia Business School in 2004-2008 and served as interim director of the Sanford C. Bernstein & Co. Center for Leadership and Ethics in 2005-2007.
Professor Glasserman received an AB in Mathematics from Princeton University and a PhD in Applied Mathematics from Harvard University.
Ann F. Kaplan Professor of Business (Finance and Economics)
Chair, Finance and Economics Division
Professor Ang specializes in empirical asset pricing and applications of econometrics to financial problems. He has developed macro-models of fixed income, valuation models with time-varying expected returns, models of downside risk and other non-linearities in asset returns, and models of dynamic asset allocation. He teaches courses on investment management and empirical asset pricing, including a new master class, Quantitative Investments, which he designed.
Professor Ang received a BEc from Macquarie University, Australia and an MS in Statistics and PhD in Finance from Stanford University.
Mark N. Broadie
Carson Family Professor of Business (Decision, Risk, and Operations)
Vice Dean for Curriculum and Instruction
Professor Broadie’s research focuses on risk management, the pricing of derivative securities, and portfolio management. He is on the editorial board of several journals and is the vice chairman of Enterprise Risk Management Institute International (ERM-II), which promotes standard and best practices in enterprise risk management. He has received numerous research and teaching awards, and he teaches the course Security Pricing: Models and Computation. Professor Broadie has worked as a consultant for numerous financial firms and gives seminars to academics and practitioners worldwide.
Professor Broadie received a BS in OR/IE and Mathematics from Cornell University and a PhD in Operations Research from Stanford University.
Nomura Professor of International Finance (Finance and Economics)
Professor Hodrick joined the Columbia Business School in 1996 where he has been the Academic Director of the Jerome A. Chazen Institute of International Business from 1997-2002 and the Senior Vice Dean from 2002-2004. He is a research associate of the National Bureau of Economic Research. His previous academic appointments include the Kellogg Graduate School of Management at Northwestern University and Carnegie-Mellon University.
Professor Hodrick’s research explores the empirical implications of theoretical asset pricing models that generate time-varying risk premiums in the markets for equities, bonds, and foreign currencies. His research has been supported by several grants from the National Science Foundation. He teaches international finance, and the second addition of his textbook, International Financial Management, co-authored with Geert Bekaert, was published in September.
Professor Hodrick received an AB in Public and International Affairs from Princeton University and a PhD in Economics from the University of Chicago.
Robert W. Lear Professor of Finance and Economics (Finance and Economics)
Professor Jones joined the faculty at Columbia Business School in 1997 and is the former chair of the finance and economics division. Professor Jones studies the structure of securities markets, liquidity, and trading costs, and he is particularly noted for his research on short sales, algorithmic trading, and the variation in liquidity over time. His published articles appear in outlets ranging from the Journal of Finance to Barron’s. Jones has served as the visiting economist at the New York Stock Exchange, and for several years he has been a visiting scholar at the Federal Reserve Bank of New York. Jones has also been on the faculty at Princeton University, and prior to doing graduate work at the University of Michigan, he was an investment banking analyst at Merrill Lynch. At Columbia, Jones regularly teaches “Debt Markets,” a popular elective course targeted to MBA students intending to work in fixed income, debt capital markets, or investment banking, and he has received the Singhvi Prize for scholarship in the classroom.
Professor Jones received an SB in Mathematics from MIT and a PhD in Finance from the University of Michigan School of Business Administration.
M. Suresh Sundaresan
Chase Manhattan Bank Foundation Professor of Financial Institutions (Finance and Economics)
Professor Sundaresan’s current research focuses on default risk and how it affects asset pricing and sovereign debt securities. He works on corporate bankruptcy, the role of collateral in interest rate swaps, recovery rates, and interest rates in microloans. Sundaresan has worked as a consultant for Morgan Stanley and Ernst and Young and has conducted training programs for leading investment banks including Goldman Sachs, Morgan Stanley, CSFB, and Lehman Brothers. He is the author of the textbook Fixed-Income Markets and Their Derivatives and teaches courses on debt markets and advanced derivatives.
Professor Sundaresan received a BE in Mechanical Engineering from the University of Madras, India, and an MS in Finance and PhD in Finance from the Graduate School of Industrial Administration, Carnegie-Mellon University.
2014-2015 No Free Lunch Seminar Series
Martin Oehmke, Associate Professor of Finance and Economics, presents Credit Default Swaps
2013 Financial Studies Conference
Watch videos from our 2013 conference: "Navigating the Changing Landscape of Finance."
Columbia Business School
Uris Hall 809, 3022 Broadway
New York, NY 10027
October 15, 2014Registration for the Fourth Annual Program for Financial Studies Conference on November 7, 2014 is now open!
October 2, 2014The No Free Lunch September 30 recordings are now available
July 8, 2014If the recent New York Times article sparked your interest in James Gorman, watch this video of his keynote at our conference
May 12, 2014The Program for Financial Studies welcomes Melina Robbana as the first Program Director
December 20, 2013A transcript of James Gorman's keynote address from the Third Annual Program for Financial Studies Conference has been published in the Journal of Applied Corporate Finance
November 11, 2013The Third Annual Program for Financial Studies Conference was a great success. Videos and photographs of the event are now available
January 16, 2013The No Free Lunch Seminar Series has been heralded as a best practice by BizEd magazine
In the News
October 20, 2014Executive Advisory Board Member Nicholas Galluccio comments on the banking sector on CNBC
October 16, 2014Professor Martin Oehmke discusses credit default swaps in Columbia Ideas at Work
October 14, 2014Professor Mark Broadie is mentioned in Golf Analytics
October 13, 2014Executive Advisory Board Member Candace Browning discusses women's leadership in Young or Mature. BofA Empowers Women
October 9, 2014Professor Charles Calomiris will speak about the banking sector at Georgetown University in Qatar
October 8, 2014Professor Andrew Ang's pension research is cited in Chief Investment Officer
October 6, 2014Executive Advisory Board Member Christian Mariager will be the keynote speaker at the 2014 CBS MBA Alumni Society Anniversary in Frederiksburg, Denmark on November 1
October 1, 2014Professor Paul Glasserman will present Carnegie Mellon's 7th Nash Distinguished Lecture in Quantitative Finance in Pittsburgh, PA on October 6
September 29, 2014Executive Advisory Board Members Maliz Beams and Candace Browning are recognized in the Top 25 Most Powerful Women in Finance
September 22, 2014Professor Charles Calomiris comments on economic expansion on Bankrate.com
September 18, 2014Professor Andrew Ang's new website factorinvestingbook.com features his book "Asset Management: A Systematic Approach to Factor Investing"
September 16, 2014Professor Laurie Hodrick's op-ed on Alibaba's IPO is published in Fortune
September 11, 2014Professor Charles Calomiris' research on capital requirements is cited by the Bank of England
September 9, 2014Professor Mark Broadie spoke at the World Scientific Congress of Golf on September 5-7 at Griffith University in Queensland, Australia
September 8, 2014Professor Andrew Ang questions private equity returns in The Globe and Mail
September 4, 2014Professor Mark Broadie predicts outcomes of The Barclays Cup
September 3, 2014Executive Advisory Board Member Maliz Beams presented at the Sixth Annual Women Advisors Network Forum in Baltimore, MD on August 25-28
August 27, 2014Professor Paul Glasserman will present at the Conference on Credit Risk and Systemic Risk in Boston, MA on September 20th
August 25, 2014Executive Advisory Board Member Tom Vandever will present at the Columbia Business School Private Equity Program's "M&A Roundup: How the 2014 'Resurgence' is Impacting Private Equity" panel in New York, NY on September 16
August 21, 2014Professor Andrew Ang's book “Asset Management: A Systematic Approach to Factor Investing" is featured in Systematic Relative Strength
August 20, 2014Professor Charles Calomiris discusses the Federal Reserve on Bloomberg BusinessWeek
August 19, 2014Executive Advisory Board Member Nicholas Galluccio speaks about small cap equities on Business News Network
August 18, 2014Executive Advisory Board Member Candace Browning is cited by the Financial Post
August 13, 2014Professor Charles Calomiris discusses the Ebola outbreak in Africa on Bloomberg BusinessWeek
August 12, 2014Professor Suresh Sundaresan presented at the NSE-NYU Indian Financial Markets Conference in New York, NY on August 4-5th