CUHK
News Centre

The Chinese University of Hong Kong (CUHK) announced today (19 October) the launch of a double major programme in Quantitative Finance (QFN) and Risk Management Science (RMS), the first of its kind in Hong Kong, in the 2009/10 academic year. Funded by the University Grants Committee (UGC), this new inter-disciplinary integrated programme is a joint endeavor of the Faculty of Business Administration and the Faculty of Science. Graduates will have mastered the wide range of tools required today by sophisticated financial practitioners and will be uniquely well-equipped to meet the challenges posed by the US subprime crisis and other financial turmoils.

As a major financial services centre, Hong Kong has a steady demand for professionals in quantitative finance and risk management science. The subprime crisis will drive the top management of both financial and industrial corporations to focus on risk management and will force major structural changes in finance and banking. Prof. Chan Ngai-hang, Chairman of the Department of Statistics and Professor of Statistics, Faculty of Science explained, “The Chinese University is launching the double major programme in QFN and RMS to engage the challenges of the turbulent world economy. The current subprime mortgage crisis highlights the importance of proper training and expertise in both quantitative finance and risk management science. It will create a tremendous demand for well-trained professionals in these two areas, not only in the private sector but also in the public sector due to unprecedented government intervention. This is indeed the right time to launch a programme of this nature.”

Prof. Leslie Young, Professor of Finance, Faculty of Business Administration said, “In the immediate future, the financial tsunami will stimulate major changes in both risk management and finance. It will provoke new regulations, new financial instruments, new ways of doing business and new developments in theory and practice, as these two fields intersect and cross-fertilize. The new programme will position graduates to understand these developments and take advantage of them in developing their careers.”

Double Major Programme in Quantitative Finance (QFN) and Risk Management Science (RMS)

The Chinese University of Hong Kong has been a pioneer in QFN and RMS education in Hong Kong. The existing QFN and RMS programmes were launched respectively in 1998 and 2000. Both continue to skim the cream of applicants to the Faculties of Business Administration and Science, and to attract both local and mainland students.

By launching the QFN/RMS double major programme to meet the challenges posed by the financial tsunami, CUHK continues to spearhead higher education in Hong Kong. The programme combines the strengths of the Faculties of Business Administration and Science, and is fully supported by the UGC. It inculcates state-of-the-art knowledge in finance and risk management, statistics and business. The first batch of students will be admitted in 2009 and graduated by 2012. Only 20 seats are offered, so competition is expected to be keen.

For details of the Programme, please visit: http://www.sta.cuhk.edu.hk/DQR/