Short CV/Education and training


  • 1987
    PhD, summa cum laude, Economic and Social Sciences (Specialization in Finance), University of Geneva, Switzerland

  • 1982
    Licence in Commercial and Industrial Sciences (Business Administration),University of Geneva, Switzerland

  • 1979
    Baccalauréat Type C, Collège du Léman, Versoix, Switzerland

Academic experience

  • Since 2009
    Director, Geneva Finance Research Institute, University of Geneva

  • Since 2008
    Swiss Finance Institute Professor of Finance at the University of Geneva

    2009 – 2013
    Deputy Director of the National Centre of Competence in Research, Financial Valuation and Risk Management (FINRISK)

  • 2006 – 2014
    Director of Research of the Swiss Finance Institute (SFI)

  • 2001 – 2009
    Director of the National Centre of Competence in Research, Financial Valuation and Risk Management (FINRISK)

  • 2001 – 2006
    Scientific Director of the Master of Advanced Studies in Finance, jointly offered by the University of Zurich and ETHZ

  • 2000 – 2008
    Full Professor of Finance, Swiss Banking Institute, University of Zurich

  • 1999 – 2000
    Director of the Institute of Banking and Financial Management, University of Lausanne

  • 1998 – 1999
    Director of Research, Financial Asset Management and Engineering (FAME), Switzerland

  • 1993 – 1997
    Director, Master in Banking and Finance, Ecole des HEC, University of Lausanne

  • 1991 – 2000
    Full Professor of Finance, Ecole des HEC, University of Lausanne

  • 1990 – 1991
    Assistant Professor of Finance, Groupe HEC, Jouy-en-Josas, France

  • 1987 – 1990
    Postdoctoral Scholar, UCLA and Visiting Scholar, NYU Funded by the Swiss National Science Foundation, researched the pricing of real options and oil contingent claims (with Professor Eduardo Schwartz at UCLA)

  • 1984 – 1986
    Teaching Assistant, Center of Monetary and Banking Studies, Geneva

  • 1982 – 1987
    PhD student and Assistant in Finance, Department of Commercial and Industrial Sciences, University of Geneva, Doctoral thesis, "Un Modèle d’Evaluation en Univers Incertain des Obligations Assorties d’une Clause de Remboursement Anticipé: Le Cas des Titres Emis par la Confédération Helvétique"

Selected publications

  • “Earnings Belief Risk and the Cross – Section of Stock Returns”, Review of Finance, Volume 24, Issue 5, September 2020, (co-authored with Songtao Wang).

  • “Measuring Sovereign Bond Market Integration”, The Review of Financial Studies, Volume 33, Issue 8, August 2020, (co-authored with Ines Chaieb and Vihang Errunza).

  • “Prefrontal Connections Express Individual Differences in Intrinsic Resistance to Trading off Honesty Values Against Economic Benefits”, Scientific Reports, September 2016, (co- authored with Azade Dogan, Yosuke Morishima, Felix Heise, Carmen Tanner, Alexander F. Wagner & Philippe N. Tobler).

  • “Reinsurance or Securitization: The Case of Natural Catastrophe Risk", Journal of Mathematical Economics, volume 53, August, pp 79-100, 2014. (co-authored with Michel Habib and Alexandre Ziegler).

Complete list of publications

Membership in scientific bodies/juries

  • Member, Swiss Federal Banking Commission, 1997-2004

  • Member, Swiss Takeover Board, 1995-1996

Board memberships

  • Member of the Board of Directors of Group BNP Nov 2018-

  • Member of the Board of Swiss Re, 2000 – April2018

  • Member of the Board of Directors of Banque Privée Edmond De Rothschild, 2012-2015

Professional activities

  • President, Scientific Council of Training Center for Investment Professionals, Bülach

  • Member, Advisory Board of the Finance Summit Conference

  • Member of the Board and of the Scientific Council of the Fondation Natixis, Paris

  • Member of the Strategic and Surveillance Committee of Sustainable Finance Geneva

Academic memberships

  • Research Fellow of the European Corporate Governance Institute (ECGI).

  • American Finance Association

  • European Finance Association

Media coverage


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