October 27, 2003

Los Angeles — UCLA Anderson School of Management announces the advancement of Pedro Santa-Clara in the area of finance.

“We are pleased to recognize Professor Santa-Clara for his contribution to our school and are proud of his academic accomplishments,” said Rakesh Sarin, senior associate dean and faculty chair, UCLA Anderson School of Management.

Prof. Santa-Clara focuses his research on theoretical models of asset pricing and the development of econometric methods to estimate those models, particularly in the areas of bond pricing and the valuation of derivatives. Throughout his career, he has made several innovative contributions on modeling the term structure of interest rates, including an application of string theory to yield curve modeling. His work has gained wide acceptance from both academicians and Wall Street, where several investment banks have used his models. Dr. Santa-Clara has also worked as a consultant to investment banks on pricing derivatives and developing dynamic investment strategies. He has written recent papers on exchange rate dynamics and portfolio choices and is currently researching fiscal policy and how it relates to financial markets. Dr. Santa-Clara's recent publications include, “The Presidential Puzzle: Political Cycles and the Stock Market,”Journal of Finance, 2003 (with Rossen Valkanov).

About UCLA Anderson School of Management

UCLA Anderson School of Management is perennially ranked among the top-tier business schools in the world. Award-winning faculty renowned for their research and teaching, highly selective admissions, successful alumni and world-class facilities combine to provide an extraordinary learning environment. Established in 1935, UCLA Anderson provides management education to more than 1,400 students enrolled in full-time, part-time and executive MBA programs and doctoral programs.

UCLA Anderson's faculty includes outstanding educators and researchers who share their scholarship and expertise in such fundamental areas as finance, marketing, accounting, business economics, decision sciences, operations and technology management, human resources and organizational behavior, information systems, strategy and policy.

Recognizing that the school offers unparalleled expertise in management education, the world's business community turns to UCLA Anderson School of Management as a center of influence for the ideas, innovations, strategies and talent that will shape the future.

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