C U R R E N T   R E L E A S E
October 15, 1999

Rotman Professor Receives 1999 IAFE/Infinity Financial Engineer of the Year Award

TORONTO - Rotman Professor John Hull has received the 1999 IAFE/Infinity Financial Engineer of the Year Award. The award was presented to Prof. Hull this week at the International Association of Financial Engineers 1999 Conference & Annual Membership Meeting in New York City. He receives the award for his significant contributions to the field of derivatives, especially in the area of interest rate derivatives and management education.
           "We all congratulate John Hull on this well-deserved international distinction," says Roger Martin, dean of the Rotman School of Management. "Finance is one of the great strengths of the Rotman School, and Prof. Hull epitomizes the kind of superior talent and professional dedication that will sustain our leadership in this field."
           John Hull is professor of finance at the Rotman School of Management. He is an internationally recognized authority on financial engineering and has many publications in that area. Recently his research has focused on interest rate options, credit risk, and market risk. He is well known for his work with Rotman finance professor Alan White in the early 1990s concerned with the development of the Hull-White interest rate model and associated numerical procedures. This model is widely used by financial engineers to value nonstandard interest rate derivatives.
           Dr. Hull has acted as a consultant to many North American, European, and Japanese financial institutions. He has written two books "Options, Futures, and Other Derivatives" (now in its fourth edition) and "Introduction to Futures and Options Markets" (now in its third edition). Both books have been translated into several languages and are used, both in the classroom and by practicing financial engineers, throughout the world. He is currently working on a third book entitled "Financial Engineering and Risk Management," which will be published in the middle of next year.
           Prior to joining the University of Toronto, Dr. Hull taught at York University, the University of British Columbia, Cranfield University, and the London Business School. Earlier in his career he worked as a corporate planning analyst with British Shoe Corporation. Dr. Hull is an Associate Editor of eight academic journals including the Journal of Financial and Quantitative Analysis and the Journal of Derivatives.
           The IAFE is an international association with over 2,000 members worldwide, consisting of professionals and academics in financial engineering. Founded in 1992, the association has bestowed the IAFE/Infinity Financial Engineer of the Year Award upon an international academic or practitioner in recognition of his or her outstanding contribution to the field each year since 1993. The award, is sponsored by Infinity, A SunGard Company, that provides enterprise software solutions for financial trading, risk management and operations.
           Previous award winners include: Robert Merton (Harvard), winner of the 1997 Nobel Memorial Prize in Economic Sciences; Fischer Black, the co-developer of the Black-Scholes formula which is widely used to value stock options in markets throughout the world; and Stephen Ross, the originator of the Arbitrage Pricing Theory and the co-discoverer of risk neutral pricing and of the binomial model for pricing derivatives.

For more information, contact:

Ken McGuffin Media Relations Officer Rotman School of Management Voice: (416) 946-3818 Fax: (416) 978-1373 E-mail: mcguffin@rotman.utoronto.ca

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