James H. Simons, president and founder of hedge fund manager
Renaissance Technologies, was named Financial Engineer of the Year for 2006 by the International Association of Financial Engineers and SunGard. Mr. Simons will receive his award at the United Nations at a dinner on Feb. 8. Mr. Simons is known in the field of mathematics for his discovery and application of the Chern-Simons theory, according to a joint news release from the IAFE and SunGard. Prior to founding Renaissance, Mr. Simons was a mathematics professor; he chaired the department at the State University of New York at Stony Brook and held academic positions in mathematics at both
Harvard University and the
Massachusetts Institute of Technology. "I am surprised and delighted to be named Financial Engineer of the Year. The profession has continued to grow in size and importance, and awards like this serve to emphasize the increasing significance of quantitative methods within the world of finance," Mr. Simons said in the news release. Richard Lindsey, IAFE chairman, said in the release: "Dr. Jim Simons is the ideal financial engineer. He has bridged academic theory and practical application, putting both to the truest test of all - the markets. Under Dr. Simons' vision and guidance, Renaissance has demonstrated the power of mathematics and science when applied to the practice of investments." David Rowe, executive vice president, risk management at SunGard, said in the release that the award is given annually to individuals who have developed or applied financial technology creatively to "solve financial problems. ...Jim Simons is one of the few individuals who genuinely qualifies on both counts."
Dana Bilyeu, executive officer of the $21 billion Nevada Public Employees' Retirement System, Carson City, was confirmed by the U.S. Senate to a seat on the Social Security Advisory Board, confirmed system CIO Kenneth Lambert. Ms. Bilyeu was recommended for a position on the seven-member independent, bipartisan panel by Nevada Sen. Harry Reid and was nominated by President George W. Bush. The Senate Finance Committee confirmed her appointment Dec. 10. The Social Security Advisory Board advises the president, Congress and the commissioner of Social Security on matters related to the Social Security and Supplemental Security Income programs. Ms. Bilyeu was not available for comment.
