SANTA CLARA, Calif., Nov. 22 /PRNewswire/ -- In conjunction with his efforts with the "Sury Initiative for Financial Innovation and Risk Management (SIFIRM)" at Santa Clara University, Professor of Finance Sharath Sury will be presenting an award to recognize the top scholar or researcher in the fields of ethical financial innovation and risk management at SIFIRM's Annual Conference in 2010. The award comes as part of the unveiling of Sharath Sury's anticipated "Autumn Sun Foundation," which is geared toward sponsoring public service initiatives in education, public safety, and law enforcement.

Sharath Sury, a retired CEO in the financial services industry and a former member of the law enforcement community, chose to pursue a career in academia in 2006 in order to further his long-time interest in helping the next generation of investors and professionals deal with the new challenges of the capital markets. Sury's previous investment firm, as part of an industry wide examination, had been the subject of an SEC inquiry into risk disclosures; and he says it has been a motivating factor for him to investigate and study how investment managers, clients, and regulators deal with risk in stressful situations.

"In light of recent market events, it is paramount to provide a strong foundation for students interested in learning business finance. Santa Clara University is the ideal location for these efforts due to its Jesuit heritage focusing on 'competence, compassion, and conscience.' Future investors and advisors need a strong moral compass to guide their professional efforts," said Sury.

Santa Clara University has been known for its pioneering work in behavioral finance, especially through the efforts of Professors Meir Statman and Hersh Shefrin. Behavioral finance deals with how investors may behave in ways that are not always rational, disputing the assumptions of classical economics. Amy Clogher, member of the Business School Alumni Council said, "Sharath Sury's classes have always focused on examining and dealing with tough financial and business decisions head on. This effort plays right into the strengths of the university."

The Sury Prize is intended to foster work in this area, with awards going to scholars for their significant contributions or promise for ongoing research in financial ethics and risk management.

VALARIE DUNCAN for FRANK MANAGEMENT GROUP
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SOURCE FMG/SIFIRM

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