Financial Risk Management

Foreword

Writing a foreword or a preface for a book is always a great honour, a sign of recognition and a wonderful pleasure. Writing a foreword for Frantz Maurer's book is even more than that for me, for several reasons.

The first is that I have known Frantz for more than 30 years. I was a member of his PhD committee and was impressed by the quality of his research and the content of his doctoral thesis. I followed his career afterwards and got a full confirmation of his intellectual and analytical ability, his passion and enthusiasm for the field of finance in general, and the risk management segment in particular. We worked together in some executive programmes and published together, in 2006, a widely used Harvard Business School note: “Understanding corporate‐value‐at‐risk through a comprehensive and simple example”.

In his teaching and consulting activities, Frantz has always demonstrated a perfect combination of theory and practice, reflection and action, strategic skills and operational capabilities. His high integrity and very solid values, together with his motivation, taste for hard work and desire to share knowledge and experience, have constantly been recognized in the academic and business worlds.

The second reason is obviously closely correlated with the previous one. When Wiley asked me to write a book on Financial Risk Management, my immediate reaction was to associate Frantz with the project. We decided to co‐author it and had long and fruitful discussions ...