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New Royal Institution club unites the science and finance communities

Mon, 01 Aug 2011 13:37:00 GMT

The Royal Institution is coaxing finance professionals back to their science and maths roots with a new science club at its Mayfair home. The 14-10 club, which is already inundated with new member applications, will be formally launched on 6 October 2011 by club Patrons; David Harding, founder of Winton Capital Management hedge fund and Alex Lipton, MD and co-Head of the Global Analytics Group, Bank of America Merrill Lynch and Visiting Professor of Mathematics, Imperial College London.

Both patrons come from a physics background and employ a large number of scientist and mathematicians in their organizations. David Harding commented ‘I am very pleased to be supporting the 14-10 club. At Winton Capital, we fund a great deal of mathematical research and we are committed to strengthening the relationship between the science and finance communities.’

Alex Lipton commented ‘Science and maths are now at the heart of the financial sector. The type of work we do, building quantitative models and strategies, means that those entering financial careers no longer see themselves as leaving science behind, but as applying it in a different context.’

The Ri has historically been the platform for promoting the application of science, and fittingly, today it welcomes the finance community into the fold, through the 14-10 club, which is exclusively for finance professionals who have a background in science or mathematics. At the launch event on 6 October, the inaugural members will hear from Microsoft Research Distinguished Scientist, Professor Chris Bishop. Professor Bishop commented ‘I am delighted to be talking at the launch meeting of the 14-10 club. There is a great deal of cross over between my work in machine learning and the sorts of computer modelling of interest to the finance community. In fact, techniques used in many fields of science – from meteorology to quantum physics, have relevance to financial modelling. We hope through the speakers and topics covered, the 14-10 club will become the place for cross-fertilization between sectors to occur‘

The Club will meet on a monthly basis to hear from top experts in science, maths and finance. Future speakers include: cosmologist, Professor John Barrow (Cambridge University); theoretical ecologist and past Government Chief Scientific Advisor, Lord Robert May (Oxford University);  head quant at Barclays Capital and Risk magazine ‘Quant of the Year 2011’,Vladimir Piterbarg and Nobel laureate and behavioural economist, Professor Daniel Kahneman (Princeton University)

The club takes its name from the outstanding achievement of the Royal Institution science: during the nineteenth century 10 chemical elements were isolated by its Fellows Sir Humphry Davy and Lord Rayleigh, and in the following century 14 Nobel Prizes were won by scientists who worked in the Ri laboratories.

Kristen Dodd
DD: 020 7670 2991
M: 07772306635

Dr Rachel Brazil

About the 14-10 Club

The 14-10 club will cater exclusively for those working in finance with backgrounds in science and mathematics. Over the last 20 years the role of mathematical modelling in finance has grown and with it, the prominence and number of ex-scientists and mathematicians working in the sector. The Ri recognises that this community shares many of its interests and objectives. This new club will provide a new channel through which the Ri can fulfil its remit to connect public and professional audiences with the world of science.

The club is open to anyone working in finance with an interest in science and maths. Applications can be made online at Membership of the 14-10 club does not include Ri membership.

Annual membership costs £350 but a monthly trial membership of £35 is available in 2011 and then on an ongoing basis for those new to the club wishing to try it out.

Meetings will usually be held on first Thursday of the month, at 7.30pm. Additional special events will be held at other times. A full list of events can be found at the club website

Club patrons may be available for interview on request:

About David Harding

David Harding is a successful global investment manager, an entrepreneur, an advocate for science education and physics research and a committed philanthropist.

Since graduating from Cambridge University with a First Class Honours degree in Natural Sciences specialising in Theoretical Physics in 1982 David has founded two of the world's most successful alternative investment companies. He is the chairman, founder and head of research at Winton Capital Management, a global leader in scientific research into financial markets and one of the UK's most profitable private companies. Before Winton he co-founded Adam Harding and Lueck, which is still the cornerstone of the FTSE 100 listed Man Group.

David is deeply committed to furthering science, risk literacy and education in the UK. In November 2010 he pledged £20million to Cambridge University's Cavendish Laboratory to fund the Winton Programme for the Physics of Sustainability. He has also made substantial donations to the Max Planck Institute for Human Development in Berlin, the Royal Society and the Centre for Science and Public Policy.

Winton has endowed a Chair in the Public Understanding of Risk at Cambridge University and sponsored the Institute for the Study of Monetary History at the Ashmolean Museum in Oxford. In February 2011 Winton agreed to sponsor the Royal Society Winton Prize for Science Books for the next five years.

About Alex Lipton

Alexander Lipton is a Managing Director and Co-Head of the Global Quantitative Group at Bank of America Merrill Lynch, and a Visiting Professor of Mathematics at Imperial College. Prior to his current role, he has held senior positions at Citadel Investment Group, Credit Suisse, Deutsche Bank and Bankers Trust.
Previously, Dr Lipton was a Full Professor of Mathematics at the University of Illinois at Chicago and a Consultant at Los Alamos National Laboratory. He received his M.S. and Ph.D. from Lomonosov Moscow State University. His current interests include industrial strength pricing of derivatives, applications of Levy processes in ?nance, technical trading strategies, and hydrodynamic stability theory. He is also very interested in the history of warfare with a particular emphasis on the role of artillery in Renaissance sieges. In 2000 Dr Lipton was awarded the first Quant of the Year Award by Risk Magazine.

Dr Lipton has published two books, namely, "Magnetohydrodynamics and Spectral Theory" and "Mathematical Methods for Foreign Exchange". He has edited four more, including, most recently, "The Oxford Handbook of Credit Derivatives" (jointly with Andrew Rennie). He has also published numerous research papers on hydrodynamics, magnetohydrodynamics, astrophysics, and financial engineering.

In addition, Alexander is an avid collector of military and naval binoculars and optical instruments. He is particularly interested in wide field binoculars built by Zeiss and Huet.

6. About the Royal Institution
The Royal Institution of Great Britain (Ri) is a charity dedicated to increasing knowledge of, excitement for and involvement in science and technology for current and future generations through its public and young peoples’ programmes, history of science activities and scientific research.

For over 200 years, at the headquarters on Albemarle St, the Ri has been at the forefront of science research, innovation and communication. The Ri is where scientists such Humphrey Davy, Michael Faraday, James Dewar, William and Lawrence Bragg and George Porter discovered 10 chemical elements, won 14 Nobel Prizes, made world-changing discoveries in the laws of electromagnetism and molecular biology and stimulated scientific debate through public lectures and events for children, the most famous of which are the televised Christmas Lectures. Today, the Ri continues this pioneering science communication and, through the Davy Faraday Research Laboratory (DFRL), it continues to produce cutting-edge research in the application of nanotechnology in healthcare

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