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Professor of Finance at HEC Paris
Associate Editor, Management ScienceMember of the ACPR Chair "Regulation and Systemic Risks"CEPR FellowSUERF Research AffiliateMember of the Finance Theory GroupProud daddy of Joseph , Marin, and AurelIn my research I study how financial institutions and frictions impact the functioning of financial markets, the formation of prices and the allocation of resources and risks in the economy. I am particularly interested in banking and market microstructure, and on the role of technology and digital transformation in these contexts.
Announcements: Augustin Landier and I organized the HEC Paris Top Finance Graduate Award Conference 2026 Congratulations to the winners !
Where to meet me in the coming months:
10-11 September 2026: I will give a keynote at the Central Bank Conference on the Microstructure of Financial Markets in Eltville am Rhein.
14 October 2026: I will give a seminar at the University of Bonn.
4 November 2026: I will participate to a panel on "Market Power in the AI Value Chain: between Trade and Finance" organized by the Bank of Italy in Rome.
17 November 2026: I will give a seminar at the Erasmus University of Rotterdam.
30 November 2026: I will give a seminar at ESSEC.
Latest updates and news:
October 2026: New survey paper, "Artificial Intelligence and Financial Markets" (with Alvaro Cartea, Thierry Foucault, Rob Graumans, Peter Hoffmann, and Jean-David Sigaux).
July 2026: New version of "Artificial Intelligence and the Rents of Finance Workers" (with Junli Zhao).
November 2025: "Introduction to the Special Issue on the Human-Algorithm Connection" (with Felipe Caro, Elena Katok, Axel Ockenfels, Nicolas Stier-Moses, Catherine Tucker, and D.J. Wu) now available on the Management Science website. Have a look at a great collection of papers on the interactions between humans and algorithms! Many thanks to all the researchers who submitted papers, acted as referees, or as associate editors.
November 2025: "Algorithmic Pricing and Liquidity in Securities Markets" (with Thierry Foucault and Stefano Lovo) accepted at the Review of Financial Studies.
November 2025: New paper: "A Dynamic Federalism Test" (with Armin Steinbach).
September 2025: "Financial Restructuring and Resolution of Banks" (with Denis Gromb) conditionally accepted at the Review of Financial Studies.
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