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Articles from: April 2009

ICMA Centre MSc high flyer receives commemorative award

ICMA Centre MSc student Richard Hamilton, from Belfast has been awarded a prestigious investment banking prize by the Securities & Investment Institute.

The Stephen Cooke Scholarship Programme commemorates the late Stephen Cooke, former senior partner of stockbroking firm, Gerrard Vivian Gray. These scholarships are only available to SII accredited Centres of Excellence, which are an elite group of universities including ourselves, selected by the SII as offering leadership in academic education, focused on financial markets.

Richard (pictured right), who is studying the MSc International Securities, Investment and Banking had to submit an essay to the board, as well as taking part in rigorous interviews in order to win the special award, is delighted with his achievement.

Richard aged 23, said:  “I am delighted to say that the SII educational trust has awarded me a significant scholarship in memory of Steven Cooke. The SII has for some years now helped young people in this country to further their ambitions in the financial services industry and has a long standing partnership with the ICMA Centre. This award is a vote of confidence in the academic standards and professional integrity which are upheld by the ICMA Centre and demonstrates the belief the Securities and Investment Institute has in the quality of the MSc in International Securities, Investment and Banking that I am studying at the Centre.”

Richard was awarded the £3,000 prize at the SII CPD Seminar: Masters at Work; a perspective on Fund Management. Richard was presented the award by guest speaker Andrew Smithers, founder of Smithers & Co.

Centre launches new Senior Executive Programme with CIOBS

A joint initiative by the Chartered Institute of Bankers in Scotland (CIOBS) and the ICMA Centre at Henley Business School, this intensive three-day residential Performance through Professionalism workshop is designed for directors (executive and non-executive) and other senior executives to develop and demonstrate an in-depth, professional understanding of the industry’s new landscape.

The programme is based on a solid foundation of professional and technical expertise and can be tailored for the in-house needs of each senior team.  A custom-designed programme might include the use of the bank’s own annual report and accounts, other internal documents and case studies.  The workshops will be closely relevant to the live contemporary challenges faced by each team of participants.

The programme will ensure that executives:

  • demonstrate an in-depth understanding of risk management and have a good working knowledge of the new regulatory frameworks;
  • develop their ability to understand and challenge the viability of high leverage business models, wholesale market funding and securitisation programmes.

Workshops are usually held at Henley Business School’s Greenlands campus next to the Thames, but other venues can be agreed. For the best learning environment 10-16 participants are recommended. Pricing depends on location, content, numbers and programme length.

To find out more see our Executive Education pages or contact Professor Brian Scott-Quinn, Director of Banking Programmes at the ICMA Centre on 07711 614060/

Professor Salih Neftci

With deep regret we announce the death of Professor Salih Neftci who passed away on Friday after a year-long fight with cancer. Salih had a long association with the Centre, having taught here for almost ten years ? for the last three as a full professor.

Salih’s research is world renowned and his last major work was to complete the new edition of his Financial Engineering book which was published only in January this year. He was regarded as an outstanding teacher, colleague and friend by all of us and will be much missed.

Alumnus Youssef El Kareh said of Salih: ?I had the luxury of studying financial engineering with Professor Neftci at the ICMA Centre, University of Reading where I first came into contact with his new book. It has been an amazing experience and it was a pleasure to see the book in print. I could write a lot more but it is enough to say that the insight and the approach are truly unique and unprecedented, two characteristics I believe that went with Professor Neftci, be it when he wrote a book or when he delivered a lecture. It is a must read for any financial engineering student and finance practitioners as well.?

We have been inundated with emails from students past and present – below are just a few of the comments we have received:

“I deeply saddened to receive this announcement. As an ICMA-Centre MSc alumnus I greatly appreciated Mr. Neftci’s way of stimulating students to appreciate his thorough understanding of today’s financial landscape. Many thanks for letting us know, and if you have the chance, please inform his relatives of our deep respect and appreciation of his work.” Jan De Wit, Class of 2005

“He was a star attraction at the ICMA Centre for students and one reason why many (including me) enrolled at the ICMA Centre! Our memories – his humour and great teaching – will still keep shining in all (and I know I speak for all his students) our hearts. ?One of the most important pieces of advice I’ve ever had – and came from this “true” teacher – was that we ‘have to continue to do new things; not get stagnated into what we’ve learnt but to continually innovate.” Ayan Banerjee, Class of 2007

“I am really sorry to hear of the death of Professor Salih Neftci. He was perhaps one of the best professors I have met during my studies in the UK. He was not only a good lecturer but also a good friend to all of us. I will never forget the unique way he used to teach as well as the way he was so good with the students. He had the ability to always keep our interest high. He was very smart, intelligent, professional, a good friend and I will never forget his humour.” Thanos Vourvopoulos, Class of 1999

“I took his classes on Financial Engineering and used to sit in the front row of the class (2005). He used to call me by my name in all the classes. Only one week ago, before I went to speak as a guest speaker at one of the Business Schools, I was watching his video on the recent credit crisis on the internet TV.  I have spoken very highly of Professor Neftci to the Business School Director and have suggested showing his videos to MBA students for sometime. May his soul rest in peace.” Ashish Agarwal, Class of 2005

ICMA Executive Education and CFA Institute Join Forces to Offer Fixed Income and Derivatives Programme

The International Capital Market Association (ICMA), the ICMA Centre at Henley Business School (University of Reading), and CFA Institute are pleased to announce the introduction of the International Fixed Income and Derivatives (IFID) Certificate Programme to CFA Institute members.

The IFID Programme puts emphasis on developing practical skills for trading, investment and risk management, and aims to develop a broad and in-depth knowledge of the key fixed income instruments, derivatives and markets. The programme is a “Recommended Exam” on the FSSC (Financial Service Skills Council, United Kingdom) Wholesale Banking list for people working and advising in Securities and Derivatives, and it has also met the FSSC’s Key 2 “Appropriate Exam” standards for activities: ‘Advising on Derivatives’ and ‘Advising on Securities’.

Commenting on the collaboration,  the Head of ICMA Executive Education, said, “The ICMA Centre, due to its status as a CFA Program Partner, already offers its MSc students in Investment Management the opportunity to sit the CFA Program Level 1 exams alongside their degree. Now, with the introduction of this programme, we are delighted to be collaborating again with CFA Institute. This is the first time we will be jointly marketing an executive qualification aimed specifically at fixed income professionals and we look forward to supporting them as they invest in their future.”

Dennis McLeavey, Head of Education (EMEA) at CFA Institute, said “We are always seeking ways to extend our educational offerings for our members. We have selected the ICMA Centre to offer our members further executive education courses since their open enrolment executive education is of the highest quality, and we already have strong ties with them through our CFA Program Partnership.”

The next two IFID residential courses (also available via distance learning) are both planned for Sitges, Barcelona in Spain, taking place on 26 April to 2 May 2009 and on 25 to 31 October 2009. More details can be found at