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| | Jarrow named "Financial Engineer of the Year" |
 | | "This award was set up by the financial services industry to pay tribute to those who have made major contributions to financial engineering as both a discipline and a profession," said Jack Marshall, IAFE executive director. |
 | | Financial engineering, the application of sophisticated mathematical tools to assess and manage complex financial investment products, has become indispensable to a wide range of business activities, including investment banking, commercial banking, corporate finance, portfolio management, risk management and financial consulting and planning. |
 | | The Heath-Jarrow-Morton option pricing model, developed in 1987 with David Heath, professor of operations research in Cornell's College of Engineering, and their former doctoral student, Andrew Morton, now a senior vice president at Lehman Brothers, is considered the most general and widely applicable of the existing analytical models. |
| www.news.cornell.edu /Chronicle/97/8.21.97/Jarrow.html (709 words) |
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