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The Actuary The magazine of the Institute & Faculty of Actuaries
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Phelim Boyle – financial engineer of the year

SunGard (www.sungard.com) and the International Association of Financial Engineers (IAFE) (www.iafe.org) have announced that Dr Phelim Boyle has been named the 2005 IAFE/SunGard Financial Engineer of the Year (FEOY). Professor Boyle, scientific director of the Institute for Quantitative Finance and Insurance at the University of Waterloo, was selected for his contributions to the field of financial engineering. The award will be presented to Dr Boyle on 2 February 2006 at the United Nations in New York City, during the 2005 IAFE/SunGard FEOY award gala dinner.

While Dr Boyle is best known for his paper on Monte Carlo methods, he has also made other important contributions to quantitative finance during the past three decades. He has pioneered the use of financial engineering techniques in actuarial science to the pricing and risk management of complex long-term options in insurance contracts.

Commenting on his receipt of the 2005 FEOY award, Dr Boyle said, ‘Each of the previous winners has made significant contributions to the field of financial engineering and so it is a great privilege to join this group. This award recognises the importance of quantitative finance in today’s economy and I would like to thank SunGard and the IAFE for making it possible. I have been lucky to work with great co-authors and smart students.’