November 1, 2007
New York University Develops the ”Super-Quant Manager” for Today’s Wall Street
New York University has announced a new dual-degree program that will give tomorrow's "quant jocks" both depth in quantitative skills and breadth in management perspective to effectively manage risk, sophisticated trading models and people in today's computation-driven financial markets. The joint MBA/MS in Mathematics in Finance degree is a partnership between NYU's Stern School of Business and Courant Institute of Mathematical Sciences, both highly regarded by Wall Street in their respective fields.
The new MBA/MS program will enable students to pursue both degrees simultaneously. Designed to be the most comprehensive program of its kind, the MBA/MS will employ the top resources and faculty of each school, including senior-level Wall Street practitioners and researchers who invented models now used by the Street every day. The program aims to attract the very best mathematics candidates who have demonstrated quantitative aptitude coupled with management and leadership potential and ambition.
With the accelerated shift in the financial landscape toward quantitative trading strategies, complex derivatives models, asset-backed securities, and exotic structured products, the need for talented managers who can both apply and translate to the firm the value of these products for profit and growth is real. NYU aspires to produce a new type of graduate, competitively poised to pursue growth career tracks in quantitative risk and portfolio management, algorithmic trading, and the design, pricing, trading and hedging of structured products.
"The field of financial mathematics draws on tools from applied mathematics, computer science, statistics, and economics," said Leslie Greengard, Director of the Courant Institute. "By combining expertise in these disciplines with the great strength in financial and business management provided by the Stern School, this dual-degree program will be training tomorrow's leaders in the finance industry."
"Wall Street has long looked to Stern for financial management talent and to Courant for quantitative finance talent. For those who aspire to build robust careers on Wall Street, our new joint program will give students the best of both worlds, with unparalleled access to the latest financial research and practice," said Thomas F. Cooley, Dean, NYU Stern School of Business. "As an institution that prides itself on being 'in and of the City', we're particularly excited about this partnership program that addresses a pressing market need."
"The new dual-degree program leverages the strengths of two of NYU's premier schools. Graduates of this innovative program will be well-equipped to conquer the challenges that arise as financial markets become increasingly sophisticated," said Peter Carr, PhD, Head of Quantitative Financial Research, Bloomberg LP, and Director of Courant's Master of Science Program in Mathematics in Finance.
About the MBA/MS Program
Students who enroll in the MBA/MS study for the first two years on a full-time basis and may complete the final semester's worth of credits on a part-time basis over the course of one year, earning a total of 72 credits. Students spend the first two years taking courses at both Stern and Courant. After completing the MBA requirements during the first two years, students continue to earn the remaining credits through part-time study at Courant. Students may begin full-time employment after completing the first two years of the program. Students are awarded the MBA after successful completion of the first two years of the program and the MS upon the successful completion of the final semester. Interested candidates must submit applications both to Stern and Courant, and be accepted by both schools. The dual-degree program will commence in Fall 2008.
New York University Stern School of Business, located in the heart of Greenwich Village, is one of the nation's premier management education schools and research centers. NYU Stern offers a broad portfolio of academic programs at the graduate and undergraduate levels, all of them informed and enriched by the dynamism, energy, and deep resources of the world's business capital.
New York University's Courant Institute of Mathematical Sciences, a center for research and advanced training in computer science and mathematics, has long been a leader in mathematical analysis, applied mathematics, and scientific computing, with special emphasis on partial differential equations and their applications. In computer science, the Institute excels in theory, programming languages, computer graphics, and machine learning.