Faculty is at the heart of any program. At the University of Maryland's Robert H. Smith School of Business, students have the opportunity to learn and collaborate with highly respected, innovative teachers and established thought leaders. For more than 10 years, the Financial Times has consistently ranked Smith among the nation’s best in intellectual capital, a testament to our faculty’s thought leadership in the business world. This means you’ll learn and collaborate with the very thinkers who are changing the way the world does business, one research study at a time.
Smith's Master of Quantitative Finance is taught by some of the world's top finance faculty. Our faculty serve as consultants and experts at FINRA, SEC, FDIC, OFR, CFTC and many private companies. Students learn and collaborate with thought leaders who are transforming the way the world does business, one research study at a time.
Professor Michael Faulkender, an Associate Editor at Finance’s most prestigious academic publication: the Journal of Finance. Professor Faulkender, an expert on corporate risk management, cash policy and capital structure, and has been cited in the Wall Street Journal, Washington Post, and The New York Times. He has received numerous awards for both his research and his teaching.
Professor Steve Heston, creator of the Heston model for valuing financial options. This model is so widely used by practitioners that it is a standard option pricing model on all Bloomberg terminals. Professor Heston is an expert on the pricing of financial derivatives, and worked at Goldman Sachs as Vice President of U.S. Arbitrage and also of Quantitative Equities. He is also an expert on the mathematics of gambling, and has written two widely praised books on tournament poker.
Professor Albert Kyle, co-creator of an entire field of finance research – market microstructure – which focuses on how the structures of markets affect their performance. Professor Kyle has received multiple professional awards, and is an advisor to major financial regulatory bodies such as the SEC, the CFTC, FINRA and NASDAQ.
Professor Dilip Madan, a leading expert on Mathematical Finance and the Editor of two of the most important journals in the field: Review of Derivatives Research, and Mathematical Finance. He is the co-creator of the Variance Gamma (VG) model for option pricing, available on all Bloomberg terminals. He has consulted for Morgan Stanley, Bloomberg, the FDIC, Wachovia, and several hedge funds. Among other awards, he was named the 2007 Risk Magazine Quant of the Year.
Professor Vojislav Maksimovic, a leading expert on firms in Emerging Markets. Much of his work has focused on how finance matters for young firms in developing countries, and how countries’ institutions and legal systems affect firm growth. He is also an expert on the behavior of conglomerates, initial public offerings (IPOs), and corporate mergers, and has consulted for the World Bank.
Professor Richmond Mathews, whose research in corporate finance, industrial organization, and corporate governance, has been published in all three major academic finance journals: the Journal of Finance, the Journal of Financial Economics, and the Review of Financial Studies. In one line of research, he studies the strategic implications of inter-firm relationships, such as mergers alliances, and private traders of minority equity stakes, and in another, he studies corporate governance implications of anonymous trading by hedge funds, large stakeholders, and corporate managers.
Professor Clifford Rossi, an Executive-in-Residence and Professor of the Practice. Prior to entering academia, Rossi had nearly 25 years’ experience in banking and government, having held senior executive roles in risk management at several of the largest financial services companies. His most recent position was Managing Director and Chief Risk Officer for Citigroup’s Consumer Lending Group where he was responsible for overseeing the risk of a $300+B global portfolio of mortgage, home equity, student loans and auto loans with 700 employees under his direction.
Professor Russell Wermers, a world expert on the performance of mutual funds, pension funds, and hedge funds. As well as writing a book on the state-of-the-art of performance evaluation for investment industry practitioners, he consults widely for the hedge, pension, and mutual fund industries, such as Goldman Sachs. Professor Wermers is the recipient of numerous awards for research and teaching.
Professor Liu Yang researches theoretical and empirical corporate finance in the areas of mergers and acquisitions, corporate restructuring, corporate governance, labor economics, and financial institutions. Her recent work on merger waves examines how and why public and private firms act differently during merger waves.