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Aug 16

David Heath Passed Away - Sad News

Posted by abiao at 13:24 | Others | Comments(0) | Reads(6562)
Received an email just now from professor Dr. Freddy Delbaen that David Heath passed away last week, what a great loss! For those of you who don't know who he is, David Heath is one of the authors who propose the influential Coherent risk measure.

Silent Salute!

Below is the email by Prof. Freddy Delbaen.
Dear All,

Last week I received the sad news that Dave Heath passed away. Dave was one of the four "gang members" who started risk measures (around 1993). His contribution to the development of this field cannot be underestimated. Dave was also the mathematical pillar of the Heath-Jarrow-Morton models for interest rates, by now the standard in interest rate modelling.

As a close collaborator he visited ETH many times and some of you certainly met him during these visits. They will remember him as a sharp, logic, independently thinking mathematician with a lot of common sense.  

Some 6 years ago, Dave had to stop academic activities.  He started to have memory problems and the diagnosis was Alzheimer. In November 2010, Artzner, Eber, Heath, Ku and myself got the David Garrick Halmstad prize for the best paper in actuarial sciences. Dave was happy to get the prize. However his condition deteriorated quickly and since January he was in a specialised hospital. Last week he had an accident and a couple of days later he passed away.

For those who knew him it represents a great loss.

Freddy Delbaen

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