Stephen Schaefer

Professor of Economics at London Business School

Professor Stephen Schaefer has published widely on fixed income markets, risk management, credit risk and financial regulation. His research includes a study on corporate debt default in the US over the past 150 years, which was awarded first prize in the 2011 Fama/DFA Award for the Best Paper Published in the Journal of Financial Economics in the areas of capital markets and asset pricing. He also received the 2015 Jack Treynor Prize from the Q Group, which recognises academic working papers with potential applications in the fields of investment management and financial markets.  Professor Schaefer was formerly a faculty member of the Graduate School of Business at Stanford University. He has also been a visiting professor at the Universities of British Columbia, California (Berkeley), Cape Town, Chicago and Venice, where he was recently awarded an Honorary Fellowship. Today, he is the lead Academic Director for the London Business School’s AQR Asset Management Institute. Outside academic life, he has consulted widely for a variety of financial institutions and is a co-author of two major reports for the Norwegian Ministry of Finance on the management of the Norwegian Government Pension Fund (the ‘Oil Fund’).  He has also been an independent board member of the Securities and Futures Authority; a senior research advisor to Moody’s KMV; a non-executive director of Leo Fund Management; a trustee-director of Smith Breeden Mutual Funds and a member of Moody’s Academic Research and Advisory Committee.