Dr. Kerem SENEL, FRM*

ksenel@isikun.edu.tr

Goksu Evleri C37/8 Anadoluhisari Istanbul/TURKEY

(90) (216) (465 05 53) - Home, (90) (532) (257 28 34) - Mobile

EXPERIENCE

2003 - Present    

ISIK UNIVERSITY                                                                               Istanbul, TURKEY 

Assistant Professor

Courses Taught:

“FIN 502 Financial Analysis and Tools for Managers”, the required finance course for MBA.

“FIN 351 Business Finance” and “FIN 353 Financial Institutions Management”, the required finance courses for BA in Management.

“FIN 454 Investment Valuation and Analysis” and “FIN 473 Issues in International Finance”, elective finance courses for BA in Management.

2005 - Present

ISTANBUL TECHNICAL UNIVERSITY                                           Istanbul, TURKEY

Visiting Professor

Courses Taught:

“HBM 524 Empirical Analysis in Finance”, an elective course for MS in Computational Science and Engineering.

2002 - 2003

ISTANBUL COMMERCE UNIVERSITY                                            Istanbul, TURKEY

Assistant Professor

Courses Taught:

“ISL 632 Corporate Finance”, the required finance course for MBA.

“BAN 631 Mathematics of Finance”, a required finance course for MA in Banking and Finance.

2002 - 2003

GALATASARAY UNIVERSITY                                                            Istanbul, TURKEY

Adjunct Professor

Courses Taught:

“G 456 Investment Valuation”, an elective finance course for BA in Management.

2001 - 2004

IL-KE CONSULTING                                                                                 Istanbul, TURKEY

Founding Partner

Rendered management consulting services on risk management issues under special regulatory constraints, investment decisions, feasibility studies, financial valuation techniques, and equity financing, specifically public offerings and private equity.

Advised Turkish Education Foundation on optimization of its treasury operations. Developed a risk management model for allocation of liquid assets among different financial instruments, given the constraints due to regulations binding foundations in Turkey.

Served as the designated consultant of Gayrimenkul Ekspertiz ve Degerlendirme A.S., one of the first two companies recognized by the Capital Market Board for portfolio valuation of Real Estate Investment Trusts, which is periodically required by the Capital Market Board.

2000 - 2001

KENT YATIRIM                                                                                            Istanbul, TURKEY

Director, Head of Corporate Marketing Department

Advised Suzer Real Estate Investment Trust on all matters regarding international and domestic marketing of the company’s proposed Initial Public Offering.

Developed marketing strategies for prospective IPOs to be brought to market by Kent Yatirim.

1999 - 2000

IKTISAT YATIRIM                                                                                       Istanbul, TURKEY

Vice President, Head of Corporate Finance Department

Established Corporate Finance Department.

Lead Managed IPO

Ersu

1997 - 1998

KORFEZ YATIRIM                                                                                        Istanbul, TURKEY

Director, Head of Corporate Finance Department

Managed all phases of following Initial Public Offerings and Mergers and Acquisitions transactions brought to market by Korfez Yatirim and Korfezbank

Lead Managed IPO

EGS Real Estate Investment Trust, Gumussuyu, EGS Egeser, Kipa, Bisas Tekstil

Co-Lead Managed IPOs

Park Tekstil, Cimbeton

M&A Transactions

Serel (Asset Sale)

Led marketing effort by presentations on strategic aspects of equity financing and evaluated prospective IPO and M&A candidates.

Completed company valuations and developed domestic and international marketing strategies.

1994 - 1997

KORFEZBANK                                                                                                 Istanbul, TURKEY                                                                                  Associate Director, Head of Research Department

Established International Capital Markets and Equity Research Departments of Investment Banking Group.

Created and implemented new risk management tools for Bank's proprietary portfolio.

Managed selection of stocks to be included in Bank’s proprietary portfolio.

Provided liaison consulting to Investment Management Group on sophisticated products.

Performed fundamental analyses on major ISE (Istanbul Stock Exchange) companies for foreign institutional investors.

EDUCATION                                                                                                                                                                                                      

ISTANBUL UNIVERSITY                                                                              Istanbul, TURKEY                                                                           

Faculty of Economics                                                                                                                                     

Ph.D. in International Management, August 2001

Thesis on “Consumption-Based Model and the Equity Premium Puzzle”

CARNEGIE MELLON UNIVERSITY                                                             Pittsburgh, PA, USA

Graduate School of Industrial Administration                                                                                                                                                    

M.S. in Industrial Administration, May 1994

Emphases in Finance and Corporate Strategy

Awarded Turkish Education Foundation Scholarship

BILKENT UNIVERSITY                                                                                   Ankara, TURKEY                                                                             

Faculty of Engineering  

B.S. in Electrical & Electronics Engineering, June 1992

Emphases in Control Engineering & Digital Signal ProcessingAchieved #6 ranking among 800,000 in university entrance examination

Awarded Bilkent University Scholarship

Department Honors, Dean’s List

ADDITIONAL

Member, Global Association of Risk Professionals (GARP)

Founded Bilkent University Bridge Club

RESEARCH INTERESTS

Pension Fund Management

• Attended the 7th International Congress on Insurance: Mathematics and Economics, Lyon, France and presented “Alternative Investment Strategies on Defined Contribution Pension Schemes when Asset Returns and Salary Growth Rates are not Independent”. This paper was solicited by the Journal of Pension Economics and Finance, Cambridge Journals, UK.
• Attended the 8th International Congress on Insurance: Mathematics and Economics, Rome, Italy and presented “Optimal Investment Allocation Decision in Defined Contribution Pension Schemes with Time-Varying Risk”.

Portfolio Management via Neural Networks and Other Nonlinear Systems

• “Using Neuro-Genetic Algorithms for Prediction of Financial Asset Prices: Evidence from the Istanbul Stock Exchange” was published in International Journal of Software and Information Technologies, Vol. 1, No. 2.

Real Options

• Attended the 30th Annual Meeting of European Finance Association, Glasgow, UK as a discussant on real options. “Real Options: The New Valuation Paradigm” was published in Istanbul Commerce University Journal, No. 3.

Value-Relevance of Accounting Information

• “Is Capital Structure a Significant Determinant for Value-Relevance? Evidence from the Istanbul Stock Exchange” was presented at the 21st International Conference of the French Finance Association (AFFI).
• Attended the 12th Annual Meeting of American Society of Business and Behavioral Sciences (ASBBS), Las Vegas, NV and presented “Inflation Adjustments and Investor Illusion”.

* Certified Financial Risk Manager, Global Association of Risk Professionals, November, 2004.