On 3 April 2007, the FBF announced its intention to begin funding five university research chairs in 2008 to encourage research and education in investment banking and financial markets. Indeed, being competitive in these markets depends to a large extent on financial innovation, on having highly-qualified global staff, and therefore on the quality of university-level education and research. The FBF plans to invest 6.5 million euros over five years.
This innovative approach is in keeping with the banking industry’s initiative launched in 2005. The funding of these university chairs will help to :
••• raise the global profile of French universities in the areas of investment banking and capital markets and attract the best students
••• recruit top-level professors and provide financial assistance to doctorate and post-doctorate students
••• set up new and ambitious programmes that may involve international partnerships with foreign universities
••• provide new risk-assessment and control techniques
••• increase co-operation between universities and market professionals.
THE FIVE CHAIRS FUNDED BY THE FBF
1. Investment Banking and Capital Markets Chair, at IDEI, Université de Toulouse I – Three key points in the financial markets and investment banking value chain.
2. Future Derivatives Chair, at École Polytechnique – Financial engineering of derivative instruments whose risks are unhedgeable in financial markets.
3. Corporate Finance Chair, at HEC-Université - Corporate finance from an investment banking and capital markets perspective.
4. Structured Products and Derivatives Chair, at Edhec.
5. Credit Risk Chair at Université d’Evry Val d’Essonne – focusing mainly on the valuation of derivatives.
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