Cass PhD student awarded Chorafas Foundation Prize
Shouqi Zhao wins award for PhD thesis
Cass PhD student, Shouqi Zhao, has been awarded the prestigious Chorafas Foundation Prize for his research on risk modelling and ruin probability.
The $5,000 prize is awarded annually by the Swiss-based education charity with the goal of inspiring promising young researchers.
In his thesis, Shouqi outlined a model to help insurance companies calculate the probability of their financial ruin. The model is intended to provide an early warning system to help firms manage risk.
"It is truly a great pleasure and honour to be awarded the Chorafas Foundation Prize," said Shouqi. "I would like to take this opportunity to express my sincere gratitude to my supervisors, Professor Vladimir Kaishev and Dr Dimitrina Dimitrova. I would not have achieved this prize without their continued support and encouragement."
Shouqi, from China, graduated with an MSc in Actuarial Science from Cass in 2009, before continuing on to study for his PhD at Cass for the next four years. He is currently working as a trader at the Bank of America Merrill Lynch.
The prize is granted in recognition of the clarity of the work, its originality and efficiency of the proposed numerical techniques.
The Chorafas Foundation awards are granted to prize winners selected by partner universities in Europe, North America, the Middle East and Asia. They are awarded to the best doctorate students as chosen by each partner university and confirmed by the Board of the Foundation.
The Dimitris N. Chorafas Foundation was established in March 1992 by the Swiss Academy of Engineering Sciences, Swiss Academy of Humanities and Social Sciences, Swiss Academy of Medical Sciences, and Swiss Academy of Natural Sciences.