Douglas T. Breeden was named winner of the 2013 IAQF/SunGard Financial Engineer of the Year Award, according to a joint statement Tuesday by the organizations.
The award — which recognizes individual contributions to the advancement of quantitative finance — is sponsored by the International Association for Quantitative Finance and SunGard Financial Systems.
Mr. Breeden — the William W. Priest professor of finance and former dean of Duke University's Fuqua School of Business — serves as a senior research consultant for Amundi Smith Breeden, a Durham, N.C.-based money management firm that he co-founded as Smith Breeden Associates and chaired from 1982 to 2005. In addition, he is a member of the board of Commonfund.
Mr. Breeden was recognized for work that includes research on mortgage securities and hedging; risk-neutral densities implicit in option prices; and the consumption capital asset pricing model, which includes consumption in measuring expected return on investments.
The award, created in 1993, is presented annually. For the award's prize, SunGard makes a donation to the IAQF in Mr. Breeden's name. The amount of the donation isn't disclosed, said David Jaffe, IAQF spokesman.
