PHILADELPHIA, March 14, 2019 — The Wharton School of the University of Pennsylvania announced today the establishment of the Stevens Center for Innovation in Finance with the support and partnership of 1991 undergraduate alumnus Ross Stevens, founder and CEO of Stone Ridge Holdings Group. The center will stimulate cutting-edge teaching and research as well as student and industry engagement focused on the revolutionary impact of information technology on financial services. The Stevens Center will hold its inaugural event with global FinTech leaders including Wharton alumni Jackie Reses, Head of Square Capital, and David Klein, CEO of CommonBond, on campus on the afternoon of April 3 this year.
“We are so grateful to Ross for his visionary leadership that will enable Penn and Wharton to continue to innovate at the vital intersection of finance and technology,” said Penn President Amy Gutmann. “From its founding to today, Penn’s unique mission has always been to take on the biggest real-world challenges and opportunities through knowledge-based and data-driven innovation. The mission of the Stevens Center is precisely this: to ensure that innovations in finance make the greatest positive contributions to businesses and communities across the globe. The Stevens Center will catalyze Penn’s world-leading research and industry engagement and enrich the opportunities available for our outstanding students.”
Led by faculty director David Musto, Ronald O. Perelman Professor in Finance, the Stevens Center will work with FinTech companies to provide faculty and students the opportunity to analyze how technology is transforming the business models of financial services through the collection and curation of innovative datasets, hosting business leaders on campus, providing students curricular opportunities for FinTech research, and working with the student-led Wharton FinTech clubs on new career pathways in financial services.
“Wharton has always defined the state of the art in finance teaching and research,” said Wharton Dean Geoff Garrett. “With FinTech morphing from a buzzword into the rocket fuel of financial innovation, information technology is poised to revolutionize financial services—from mobile payments to microcredit, from lending to insurance, from cryptocurrencies to financial planning, and more. The Stevens Center will bring together the best thinkers from academia and industry to ensure that Wharton continues to chart the future of finance. I am very grateful that Ross has graciously agreed to chair and help recruit an advisory board of FinTech leaders for the Center.”
The Stevens Center will expand student programming in financial innovation through applied FinTech research courses and mentorship. Companies will work with Wharton to develop research projects for small teams of students, who will integrate and apply what they have learned to current research challenges and business opportunities. Global leaders in FinTech will engage with students inside and outside the classroom as practitioners in residence.
“I am thrilled that the Stevens Center will make it possible for Wharton to greatly expand the ways we study and shape the FinTech revolution,” said Professor David Musto. “I have known Ross since we were classmates in graduate school together and I am very much looking forward to working with him again to make the Stevens Center a game changer both for Wharton and for financial services.”
About the Wharton School
Founded in 1881 as the world’s first collegiate business school, the Wharton School of the University of Pennsylvania is shaping the future of business by incubating ideas, driving insights, and creating leaders who change the world. With a faculty of more than 235 renowned professors, Wharton has 5,000 undergraduate, MBA, executive MBA, and doctoral students. Each year 18,000 professionals from around the world advance their careers through Wharton Executive Education’s individual, company-customized, and online programs. More than 98,000 Wharton alumni form a powerful global network of leaders who transform business every day. For more information, visit www.wharton.upenn.edu.
About the University of Pennsylvania
Founded in 1740, the University of Pennsylvania is an Ivy League institution with a distinctive past. Its 12 undergraduate, graduate and professional schools are located in Philadelphia on an attractive urban campus that serves a diverse community of more than 20,000 students from throughout the nation and around the world. Ranked consistently among the top universities in the nation, Penn has a longstanding reputation for excellence in graduate and professional education.