Nicolae Gârleanu, an expert on asset pricing, was installed as the H. Frederick Hagemann Jr. Professor of Finance at Olin Business School at Washington University in St. Louis during a ceremony May 8.
Gârleanu joined WashU in 2021, bringing two decades of teaching and research experience. Most of Gârleanu’s research is in asset pricing, where he concentrates on various facets of liquidity and the extent to which consumption and production dynamics are consistent with asset returns.
Gârleanu’s papers have been published in prestigious academic journals such as Econometrica, the American Economic Review, the Journal of Political Economy and the Journal of Finance. In 2020, he was the co-recipient of the prestigious Stephen A. Ross Prize in Financial Economics for his paper “Over-the-counter markets,” written with Darrell Duffie and Lasse Pedersen. Additionally, Gârleanu serves as associate editor for the Journal of Economic Theory and the Journal of Financial Economics.
The Hagemann professorship was established in 1997 through the leadership of Hagemann’s brother, Paul O. Hagemann. H. Frederick Hagemann earned a bachelor’s degree in business administration from WashU in 1926. He began his career with Kaufman-Smith Co. in St. Louis, an investment banking house that subsequently merged with Boatmen’s National Bank. He later became president and chief executive officer of the Rockland Bank in Boston. Hagemann also served on the university’s Board of Trustees from 1965 until his death in 1996.
Anjan Thakor, dean of Olin Business School and the John E. Simon Professor of Finance, presided over the installation ceremony at the Charles F. Knight Executive Education and Conference Center. Gârleanu delivered an address, “Understanding Asset Prices: A World of Imperfections.”
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