Contact: info@ermii.org
Date: July 28, 2006

Press Release: I.S.F.A. (University Claude Bernard of Lyon 1 , France) Joins ERM Institute International As A Founding University Member

Lyon , France–ERM Institute International, Ltd. (ERM-II) is pleased to announce that I.S.F.A. (Institute of Finance and Actuarial Science) at the University Claude Bernard of Lyon 1, has joined the founding university member group in promoting risk education and research.

Professor Jean-Claude Augros, Director of I.S.F.A., states, “ France has one of the best higher education systems in the world. I.S.F.A. has a long tradition of excellence for its university program in quantitative risk management. The University Claude Bernard of Lyon 1 has trained about one third of all actuaries in France. ERM-II is an international initiative, and we look forward to many good developments coming from France.”

Professor Nicole El Karoui, who has trained many quants for Wall Street and who was once featured on the front page of the Wall Street Journal, agreed, “I really support this initiative. This initiative will help us to undertake research projects that are rooted in real-world problems.”

ERM-II is a research organization dedicated to the advancement of the body of knowledge of enterprise risk management and quantitative solutions though developing and promulgating international standards for quantitative risk education, and promoting multi-disciplinary international research. The founding members of ERM-II encompass a worldwide network of university graduate programs in quantitative risk management, including those offered by Carnegie Mellon University, Columbia University, Georgia State University, Heriot-Watt University (UK), University of Lyon (ISFA), the University of New South Wales (Australia) and the University of Waterloo (Canada). The Casualty Actuarial Society and the Institute of Actuaries of Australia are also founding members of ERM-II.

For more information about I.S.F.A., please visit http://isfa.univ-lyon1.fr/fr/cadres.htm or send an email to Jean-Claude Augros (augros@univ-lyon1.fr) or Stéphane Loisel (loisel@univ-lyon1.fr)

A picture taken in Paris in June 2006: Left: Professor Stéphane Loisel at ISFA Middle: Professor Nicole El Karoui, Director of the Department of Applied Mathematics, Ecole Polytechnique. Right: Dr. Shaun Wang, Georgia State University & Executive Director of ERM-II