Russell Gerrard

Russell Gerrard is an Associate Professor in Statistics and Head of Faculty of Actuarial Science & Insurance at Bayes Business School, City, University of London. He holds a PhD and BA in Mathematics from the University of Cambridge and has been a long-standing faculty member at City, contributing significantly to actuarial education and research.

• PhD in Stochastic Processes, University of Cambridge (1984)
• BA in Mathematics, University of Cambridge (1979)

Dr. Gerrard's research focuses on the optimal control of pension fund investments, asset allocation, dividend distribution, premium determination in general insurance, and model uncertainty. His work bridges theoretical stochastic processes with practical applications in insurance and pension economics. He has made significant contributions to the understanding of de-cumulation risks, annuitization timing, and risk-sharing mechanisms in modern pension products.

The most recent publications (2018–2023) highlight a consistent research trajectory in long-term investment planning, probability hedging, and customer-centric pension design. These works often involve stochastic optimal control, risk management under uncertainty, and the development of transparent financial products that allow savers to self-select their risk exposure. The articles frequently appear in top-tier journals such as European Journal of Operational Research, Insurance: Mathematics and Economics, and Quantitative Finance, reflecting a strong interdisciplinary focus on actuarial science, financial mathematics, and operations research.

Scientific Awards and Professional Recognition:

• Lead Assessor for Subject CA2, The Actuarial Profession (2008–2011)
• Principal Examiner for Subject 103, Institute of Actuaries (2000–2005)
• Member, London Mathematical Society (since 1988)

Dr. Gerrard has supervised PhD students including Peter Vodicka and Andrea Buffoli. He has secured research grants, notably from the Institute and Faculty of Actuaries for the project 'Minimising Longevity and Investment Risk while Optimising Future Pension Plans.' His consultancy work with firms like AON Benfield and Sabaté demonstrates applied impact. He has presented at numerous international conferences, including the International Congress on Insurance: Mathematics and Economics.

He leads key academic programs and initiatives, having served as Director for the BSc Actuarial Science and the Foundation Year in Mathematics. As International Foundation Programmes Director, he plays a significant role in academic leadership and student pathway development.