Svetlozar Rachev Appointed Frey Professor in Quantitative Finance

Robert Frey is Director of Stony Brook's Quantitative Finance program and been MD for 15 years at Renaissance Technologies.

Link Zari Rachev Appointed Frey Professor in Quantitative Finance | Quant Network

FinAnalytica announced today that Dr. Svetlozar (Zari) Rachev, Chief Scientist, has been appointed Professor in the Department of Applied Mathematics at Stony Brook University in New York. In addition, he will hold the title of Frey Family Foundation Professor in Quantitative Finance. Dr. Rachev begins his new position in January 2011.

Dr. Rachev, who currently holds the Chair Professorship in Statistics, Econometrics and Mathematical Finance at Karlsruhe University in Germany, is one of the world’s foremost authorities in the application of heavy-tailed distributions in finance. His 30 years of research culminated in three recently awarded patents at FinAnalytica, where he remains as Chief Scientist.

In his new role, Dr. Rachev fills the endowed chair of the Frey Family Foundation. The position was established through a gift by Dr. Robert J. and Kathryn B. Frey. Dr. Frey is a research professor, director and developer of the Program in Quantitative Finance in the Department of Applied Mathematics and Statistics at Stony Brook University. Frey spent 25 years as an applied mathematician in the industry, including 15 years as Managing Director at the hedge fund Renaissance Technologies. The goal of the post was to hire a prominent scholar in the field to foster graduates in applied mathematics whose area of practice is finance, rather than finance professionals with ancillary training in mathematics.

Dr. Frey stated, “Professor Rachev epitomizes the ideal mix of both scholar and practitioner in quantitative finance that we had in mind for the Frey Family Foundation Chair in Quantitative Finance.”

“I am very excited that such an outstanding professor has been recruited as the first Frey Family Foundation Chair in Quantitative Finance and leader of the growing quantitative finance program in the Department of Applied Mathematics and Statistics,” said Dr. Yacov Shamash, Dean of the College of Engineering and Applied Sciences and Vice-President for Economic Development, Stony Brook University. “Professor Rachev’s many finance books and his founding role at FinAnalytica give him unique credentials in the world of quantitative finance.”

Dr. Rachev said, “I am honoured that Stony Brook University has appointed me at this seminal time. My focus will continue on bridging the gap between academia and real world quantitative finance. I am delighted to have the opportunity to contribute in a significant way to this world class program.”

Dr. Rachev was a co-founder and president of Bravo Risk Management Group, originator of the Cognity methodology, acquired by FinAnalytica. He is also Professor Emeritus at the University of California, Santa Barbara in the Department of Statistics and Applied Probability. Rachev is the author of 14 books and over 300 published articles on finance, econometrics, probability, statistics and actuarial science. He holds a PhD (1979) and Doctor of Science (1986) from Moscow University and the Russian Academy of Sciences.