Dr Varotto won the award with his research paper* “Credit Risk Stress Testing: The Great Depression Scenario”, published in the Journal of Banking and Finance and presented at several conferences across Europe, US and Canada as well as a recent meeting on ‘Basel III and beyond’ jointly organized by the Deutsche Bundesbank and ZEW in Frankfurt.

Dr Varotto, lecturer in Finance at the ICMA Centre, commented on his award by saying, 'I am delighted and honoured. I am grateful to all my colleagues for their help and encouragement which have been instrumental to this successful outcome.'

Professor Charles Sutcliffe, Head of the ICMA Centre, said, 'The ICMA Centre is very proud to have now won this award two years in a row for the outstanding and groundbreaking research we are currently undertaking. Simone's research in the areas of risk management and bank regulation is providing applicable advice to the banking community in the wake of the recent financial crisis situations and demonstrates clearly the value of economic historical study.'

Dr Varotto was presented with his award by the Vice Chancellor at a meeting of the University Court on Monday 26 March 2012.

Photo: Simone Varotto with Christine Williams, Pro Vice Chancellor for Research and Innovation, University of Reading, at the awards ceremony.

* Varotto, S. Stress test credit risk: The Great Depression scenario. J. Bank Finance (2011)