Professor David Heath (Ph.D. University of Illinois 1969): I am a specialist in applied probability; I began working in financial applications in 1977. Many of my PhD students are employed in the financial industry. I am a co-author of the HJM framework for term structure modelling, which I teach in the MSCF program at CMU, and continue to work on models for the fluctuations of securities prices. More recently my principal research interest has been in risk measurement, management and control, where my colleagues and I have introduced and studied coherent measures of risk. I am a Fellow of the PriceWaterhouseCoopers Risk Institute and a member of the boards of directors of Lehman Brothers Financial Products and Lehman Brothers Derivative Products.