George Christodoulakis

Dr

  • Crawford House, Oxford Road

    M15 6PB Manchester

    United Kingdom

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Personal profile

Biography

George graduated from the University of London, Birkbeck College, with a PhD and Masters in Finance, following his studies in the Athens University of Economics & Business where he obtained his first degree in Economics and his Masters in Economics & Econometrics. George has been a member of staff at Cass Business School of City, University of London and the University of Exeter, an Advisor to the Governor of the Bank of Greece (a euro area central bank) and has substantial consulting experience in the financial sector. Since 2006 he is appointed at Manchester Business School. During his leave of absence (2009-2012), George served as the State Secretary and Chief Executive for Asset Restructuring and Privatisations of Greece. In October 2012, he was appointed as a member of the Hellenic Corporate Governance Council, Greece. In Februry 2017 he was appointed as member of the Supervisory Board of ICAP Credit Rating Agency and since March 2018 he is also a non-executive Member of the Board of Directors. His current research interests focus on credit and market risk, asset and risk management, M&A's and state asset privatisations, financial stability and regulation, forecasting and behavioral finance, including corporate governance and responsible investment. His research approach spans methodologies from financial theory, econometrics and probability and financial regulation as appropriate. Editor of the Analytics of Risk Model Validation (Elsevier) and Associate Editor of the Journal of Risk Model Validation (Risk Journals). New forthcoming edited book: Managing Risks in the European Periphery Debt Crisis: lessons from the trade-off between economics, politics and the financial markets. Palgrave Macmillan Publishers, UK, published in 2015. 

Research interests

Indicative research interests include:

  • Structured Finance: securitization transactions, structured finance credit ratings, asset-backed securities 
  • Credit Risk: credit rating, credit loss distributions, pricing credit products, risk management, risk model validation, syndicated credit
  • Financial Forecasting: asymmetric loss preferences, path forecasts, forecast combination
  • Asset Management and Market Risk: Black-Littermann asset allocation, multi-factor models
  • Privatization Transactions: optimal portfolios, optimality of transactions, incentives-value trade-off, performance and economic impact
  • Financial Regulation: impact of regulation on risk taking, systemic risk and financial stability, regulatory capture, market manipulation, financial crime, regulation of credit rating agencies
  • Behavioural Finance: estimation of preferences, risk-on / risk-off patterns, loss aversion, responsible investment
  • Corporate Governance and Enterprise Risk Management: corporate governance rating systems, ESG performance, corporate risk governance, structure of incentives

Prospective PhD Students

Completed PhD Students

  • Enrique Eugenio Batiz Zuk, "Distributions of Credit Portfolio Losses", 2011
  • Waseem Larik, "Credit Risk and Systemic Financial Stability", 2012
  • Yong Woong Lee, "Generalized Dependence Structures in Distributions of Credit Portfolio Losses", 2009-2012

PhD Viva Examinations

  • Patricio Contreras, University of Cambridge, "Three Essays on Risk Management: From Portfolio to Open Economy Sovereign Risk", 2008
  • John Heap, University of Manchester, "Enhanced Techniques for Complex Interest Rate Derivatives", 2008
  • Cao Yang, University of Manchester, "Multi-Asset and Stochastic Volatility Option and Bond Pricing Models: Valuations and Calibrations", 2009
  • Riko Miura, University of London, "Linkages between Absolute Returns, GARCH Processes and Long Memory", 2009

Journal Affiliations

Further information

  • George's teaching concentrates on asset management, credit risk, market risk, financial engineering and financial econometrics.

Expertise related to UN Sustainable Development Goals

In 2015, UN member states agreed to 17 global Sustainable Development Goals (SDGs) to end poverty, protect the planet and ensure prosperity for all. This person’s work contributes towards the following SDG(s):

  • SDG 8 - Decent Work and Economic Growth
  • SDG 11 - Sustainable Cities and Communities
  • SDG 16 - Peace, Justice and Strong Institutions

External positions

Member of the Board of Directors, INED, ICAP Credit Rating Agency

Mar 2018 → …

Member of the Supervisory Board, ICAP Credit Rating Agency

2017 → …

Member of the Council, Hellenic Corporate Governance Council

Jan 2012Dec 2018

State Secretary for Asset Restructuring and Privatisations of Greece, Ministry of Finance, Hellenic Republic

Nov 2009Mar 2012

Advisor to the Governor, Bank of Greece

20032007

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