Nicholas Valerio designed and teaches two advanced elective courses on Derivative Financial Assets. In addition, he teaches or has taught courses on Fixed Income Securities, Corporate Finance, Advanced Financial Topics, and an undergraduate Finance Honors Seminar. Prior to entering academia Nicholas worked in the Capital Markets group of Citibank in the sales and trading area of the Money Market Division. He combines academic theory and his professional experience for a pragmatic view of the financial markets in his research and teaching. Nicholas has also been a Visiting Professor at The Wharton School of the University of Pennsylvania where he taught a Derivative Financial Assets course.
Areas of Expertise (6)
The Wharton School, University of Pennsylvania: Ph.D., Financial Economics 1992
The Wharton School, University of Pennsylvania: M.A., Financial Economics 1987
School of Engineering and Applied Science, Columbia University: B.S., Operations Research, concentration in Applied Economics 1982
Providence College: B.S., Mathematics and Science 1982
Media Appearances (2)
Banking's Uber Moment: The Future of Investment Banks
CKGSB Knowledge online
"The advantages don't completely outweigh the negatives now in terms of going public," Valerio says. "The private markets are becoming a bigger marketplace,"...
Banking's Uber moment: The future of investment banks
Forbes India online
Investment banking has always been a highly cyclical business, growing when the markets grow, shrinking when they shrink. But a combination of regulation, technology and investment suggests that, as stockbrokers have traditionally whispered in boom times, this time it’s different. The go-go era of investment banking that began in the mid-1980s and thrived up to the financial crisis appears to be on its way out, as the biggest banks shrink in response to regulation and smaller, more focused firms, funds, and start-ups take a larger share of the market. “It’s becoming a mature industry,” says George Kuznetsov, a London-based member of the executive board at Coalition, a banking data firm. Over the past few years, the number of banks with aspirations to become one of the world’s top three investment banks has shrunk from 10-15 to three, says Kuznetsov. Six years ago, in 2009-2010, all those large banks aspired to be one of the top three of almost everything. No longer. “At this point in time, that mentality doesn’t exist,” he says.