Nobel laureate William F. Sharpe has been named winner of the 2012 Lillywhite Award, an annual recognition for lifetime contributions to economic security sponsored by the Employee Benefit Research Institute.
Mr. Sharpe, who won the 1990 Nobel Prize in Economic Sciences, will be honored at Pensions & Investments' West Coast defined contribution conference Nov. 4-6 in San Francisco. He will speak at the conclusion of the awards ceremony.
In an interview, Dallas Salisbury, EBRI president and CEO, praised Mr. Sharpe for his creativity and versatility as one of the originators of the capital asset pricing model, for which he won the Nobel; as developer of the Sharpe ratio for investment performance analysis; and as co-founder and director emeritus of Financial Engines.
“He really has had decades of influence,” Mr. Salisbury said.
Mr. Sharpe, the author of seven books on portfolio theory and investing, is the STANCO 25 Professor of Finance, Emeritus, at Stanford University's Graduate School Business.
The Lillywhite Award is named for Ray Lillywhite, “a pioneer in the pension field with Alliance Capital, who for decades guided state employee pension plans,” according to an EBRI news release. EBRI established the award in 1992 “to acknowledge the contributions of individuals who have had distinguished careers in the investment management and employee benefits fields and whose outstanding service enhances Americans' economic security.”