The University of Chicago's Center for Financial Mathematics, the only research center in the nation, devoted to financial mathematics has received a $7 million gift from Steve Stevanovich recently.
Steve Stevanovich explains the motivation behind his philanthropy through these words:
"World financial markets are becoming more and more complex and mathematics is increasingly becoming an invaluable and necessary tool in understanding these markets. The financial mathematics program at the University of Chicago is at the forefront of providing students the necessary tools to filter and decode this complexity. It is an honor for me to be a part of this endeavor and to continue the legacy of excellence at the University of Chicago."
Founded in August 2006 at the University of Chicago, the research center has been named the Stevanovich Center for Financial Mathematics. The Center promises to bring together scholars and finance professionals to address problems faced by the industry.
The Stevanovich Center advances the understanding of the increasingly complex world of financial markets by integrating mathematics, statistics, and economics. This interaction will lead to more sophisticated tools to address challenges that range from analyzing, visualizing, and interpreting massive data sets, to building more accurate, tractable, and robust models to measure, price, and hedge risk.The Center brings together leading academic researchers and financial professionals whose insights from daily experience in the markets can help translate theory into improved practice.