Myron S. Scholes, Ph.D.
Myron S. Scholes is Chairman of Platinum Grove Asset Management, an alternative investment fund, specializing in liquidity provision services to the global wholesale capital markets. Professor Scholes is the Frank E. Buck Professor of Finance Emeritus, at the Stanford University Graduate School of Business since 1996.
Professor Scholes is currently a director of the Chicago Mercantile Exchange, Dimensional Fund Investors mutual funds, and American Century (Mountain View) mutual funds.
Professor Scholes is widely known for his seminal work in options pricing, capital markets, tax policies and the financial services industry. He is widely published in academic journals. He is co-originator of the Black-Scholes options pricing model, which is the basis of the pricing and risk-management technology that is used to value and to manage the risk of financial instruments around the world. For this work, he was awarded the Alfred Nobel Memorial Prize in Economic Sciences in 1997.
He was the Frank E. Buck Professor of Finance at the Stanford University Graduate School of Business from 1983 to 1996, and a Senior Research Fellow at the Hoover Institution from 1987 to 1996. He received a PhD in 1969 from the University of Chicago where he served as the Edward Eagle Brown Professor of Finance in the Graduate School of Business from 1974 to1983 and where he was the Director of the Center for Research in Security Prices from 1976 to 1983. He was an Assistant and Associate Professor of Finance at MIT’s Sloan School of Management from 1969 to 1974.
Professor Scholes is a member of the Econometric Society and served as President of the American Finance Association in 1990. Professor Scholes has honorary doctorate degrees from the University of Paris, France, McMaster University, Canada, Louvain University, Belgium and Wilfrid Laurier University, Canada.
Professor Scholes has consulted widely with many financial institutions, corporations and exchanges and continues to lecture for many organizations around the world. He was a principal and limited partner at Long-Term Capital Management, L.P., an investment management firm, from 1993-1998. From 1991 to 1993, he was a Managing Director at Salomon Brothers, a member of Salomon’s risk management committee, and as Co-Head of its Fixed Income Derivatives Sales and Trading Department was instrumental in building Salomon Swapco, its derivatives intermediation subsidiary, and in expanding its derivative sales and trading group.