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GAM Gilbert de Botton Award in Finance Research 2007 Results

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  • 23 October 2007

The Financial Markets at LSE is pleased to announce Sarquis Sarquis as the winner of the GAM Gilbert de Botton Award in Finance Research 2007, for his paper on Business Cycles.  The Award is made annually in recognition of outstanding research in finance. Competition was extremely high this year, with both a dramatic increase in the number of entries and in standard and academic rigour.

A team of experts from the academic and the business community evaluated the research papers. The 2007 Award's Jury included Professor David Webb (Director, Financial Markets Group, LSE) as Chairman of the panel, Professor Charles Goodhart (Research Programme Director, Financial Markets Group, LSE),  Professor Antoine Faure-Grimaud (Programme Director, Corporate Finance, LSE), Dr Sushil Wadhwani (Wadhwani Asset Management LLP), Dr Michael Kuczynski (Pembroke College, Cambridge), Mr Jeremy Smouha (Director, GAM) Mr David M. Solo, (Group Chief Executive Officer, GAM) and Mr Graham Wainer (Group Head of Clients & Portfolio Management, GAM).

The results of this year's competition are:

  • Winner: Sarquis Sarquis - Interest Rate and Business Cycles in a Credit Constrained Small Open Economy
  • 1st Runner-up: Christian Reusch - Self-Exciting CAViaR Models with Endogenous Thresholds
  • 2nd Runner-up: Jan Bena - Which Firms Benefit More from Financial Development?

The Award Jury also short-listed 3 additional papers of very high quality:

  • Ashley Taylor: Productivity Implications of Financial Sector Reforms: a Heterogeneous Firm Approach
  • Christian Fons Rosen: Start-up Costs, External Finance, and Improvements in Financial Development
  • Nikolaj Schmidt: Foreign Bank Entry and Credit Market Segmentation

Sarquis Sarquis will be presented with the winner's prize of £10,000. The 1st Runner-up will receive £5,000 while the 2nd Runner-up will receive £ 2,500.  The award ceremony this year will take place on the 6th of November 2007 and will be combined with a lecture by Sir Nicholas Stern FBA (IG Patel Professor of Economics and Government, LSE) entitled Governments, Markets and Climate Change .

The Financial Markets Group at LSE would like to thank GAM for their generous support that will enable us to continue our efforts to promote top quality research by talented young people in financial market behaviour and practice.  Previous winners included Hassan Naqvi in 2003 who is now an Assistant Professor of Finance at National University of Singapore, Miguel Segoviano in 2004 who has also successfully competed his PhD and moved to the IMF, Peter Kondor in 2005 who is now at The University of Chicago Graduate School of Business and joint winners in 2006, Sridhar Arcot, now an Assistant Professor at ESSEC Business School, and Valentina Bruno, who successfully moved to the World Bank and is now at the Kogod School of Business.

Information about the GAM award competition 2008 will be posted in the FMG website in Lent term 2008.

The Award was created in honour of the late Gilbert de Botton, founder of GAM.


GAM delivers active investment management to private clients, institutions and intermediaries.  Its goal is to produce outstanding results for clients by providing access to great investment talent throughout the world. All of GAM's fund managers, whether employed by GAM or contracted to GAM, are unconstrained in their investment management process and decisions.  As well as active management within funds, GAM uses active asset allocation to combine funds in managed portfolios that meet clients' diverse needs.   GAM's funds and strategies cover a broad range of asset classes, currencies and market conditions. It has long experience of hedge funds and funds of hedge funds. With rigorous attention to detail and client-friendly technology, GAM provides excellent service to its clients. It manages some CHF 76.2 billion of clients' assets from nine offices around the world. Established in 1983 by its visionary founder, Gilbert de Botton, GAM was owned by UBS AG from 1999 until December 2005 when it was acquired by Julius Baer Holding Ltd. GAM continues to have a distinctive style and culture.

All data as at 30 June 2006.

The following GAM Group Companies are authorised and regulated by the Financial Services Authority for the provision of investment services within the United Kingdom: GAM London Limited, GAM International Management Limited and GAM Sterling Management Limited.