Sustainable finance issues consolidate BNP Paribas' historic chair with HEC Paris

On Monday, January 29, 2024, BNP Paribas renewed its commitment to HEC Paris by signing up for a further three years to its teaching chair dedicated to corporate finance. Launched 12 years ago, now renamed "The Future of Finance" and directed by finance professor Pascal Quiry (H.84), this chair focuses on the major challenges facing the world of finance in the coming years, like the sustainable finance, the impactful finance and the world of asset management.

^{Auteur/Author of this article: Frédéric Voirin}

The very mention of his name sends shivers down the spine of even the most daring and makes the least studious pale. You can't talk about corporate finance without mentioning its "bible": the Vernimmen! Reedited every year by Professor Pascal Quiry, former BNP Paribas banker and living legend of finance at HEC Paris, who is now the new holder of the BNP Paribas x HEC Paris Chair: "The Future of Finance".

This chair focuses on the major challenges facing the world of finance in the coming years, such as corporate social responsibility, ESG and impact finance. A program built around monetary values, but also and above all human values, and which concerns companies and investors alike.

This wide-ranging field of exploration reflects the challenges that finance must meet to keep pace with changes in the economy, the environment and society.

A new "Ethics and Compliance" elective

Since 2012, BNP Paribas has supported HEC Paris's first chair entitled "Corporate Finance", enabling the French bank to contribute to the school's academic programs and to be associated with the production of excellent teaching materials in corporate finance.

Renewed for three years, the Chair is evolving to include the creation of an elective "Ethics & Compliance" course proposed and taught by Nathalie Hartmann and Philippe Frizé, and is strengthening its support for research through the HEC Paris Center for Impact Finance headed by Stefano Lovo.

Producing excellent teaching materials in corporate finance

On the occasion of this re-signing, Alain Papiasse (Chairman of CIB), Sophie Javary (H.80 and Vice-Chairman of CIB EMEA) sponsor of the Chair's patronage, Sofia Merlo (Group HR Director), David Vaillant (CEO Paribas Asset Management France) and Eloic Peyrache (Dean and General Director of HEC Paris) met to formalize the renewal of this collaboration.

With the arrival of BNP Paribas Asset Management alongside BNP Paribas CIB and BNP Paribas Group HR, there are now three entities involved in and supporting this partnership.

David Vaillant, CEO of BNP Paribas Asset Management France adds: "We are particularly pleased that BNP Paribas Asset Management joins this ambitious partnership. In itself, the new name of the Chair symbolizes the shared desire of BNP Paribas and HEC Paris to better understand the challenges of tomorrow's finance, for which research is central, and with which students wish to be taught."

^{Sophie Javary (H.80), Vice-Chairman de BNP Paribas & Eloic Peyrache, doyen et directeur général d'HEC Paris}

A Chair to excel in financial analysis, company valuation and investment choices

Initially launched under the direction of the late Prof. Denis Gromb in and then taken over in 2023 by Prof. Pascal Quiry (H.84), the BNP Paribas x HEC Paris Chair in Corporate Finance has produced original teaching materials of excellence.

First and foremost is "Vernimmen", the leading finance book in the french-speaking academic world (10,000 copies sold annually), which is the finance bible for all trained finance practitioners and students. BNP Paribas and Exane are the exclusive banking suppliers of financial data. Originally published in 1974 by Pierre Vernimmen, it is now co-authored by Pascal Quiry and Yann Le Fur.
This reference work is updated every year in its French version and every three years in its English version.

Le Vernimmen, which sells 10,000 copies a year, is the leading finance book in the french-speaking world.

At the same time, 3 MOOCS have been created as part of the Finance Chair. These are dedicated to financial analysis, company assessment and investment and financing choices. A unique feature of this digital content is that it is available in French, English and...Chinese (mandarin)! Thanks to this unique advantage, they have been followed by 70,000 people since 2013!

Last but not least, the Chair is headed by a highly-recognized professor in the world of finance. Pascal Quiry's background as a financier with BNP Paribas until 2012, and his honorary teaching titles of best professor 2013 for all programs, best MBA professor in 2012 and 2014, "most thought provocative teacher" in 2014, and finalist in 2015 and 2016 for the title of best professor for all programs, made him the pioneer at HEC Paris of MOOC teaching on the subject of "Finance" (as early as 2014!).

^{Un moment convivial pour signer cette chaire consacrée au futur de la finance}

Shared values of innovation, integrity and social responsibility in the service of finance

For Sophie Javary and Pascal Quiry the partnership between HEC Paris and BNP Paribas revolves around several fundamental values.

"We want to encourage a culture where innovation is essential and constant to meet the new challenges of the financial sector", Sophie Javary emphasizes.

Sophie Javary, Vice-Chairman of the european largest investment bank, adds: "Integrity and social responsibility must be at the heart of our activities, reflecting our commitment to ethics and sustainability, and our commitment in financing energy transition."

Daniel Vaillant adds: "Finance and especially asset management are fundamental pillars to the essential and exciting transitions we are heading to"

The partnership between HEC Paris and BNP Paribas is also crucial, fostering an enriching exchange between academic theory and banking practice.

Finally, "commitment to education and continuing professional development must be a priority, ensuring that future professionals in the financial sector are well prepared for the challenges and opportunities ahead."

"BNP Paribas' commitment to education and continuing professional development must be a priority, ensuring that future professionals in the financial sector are well prepared for the challenges and opportunities of tomorrow."

Pascal Quiry, on his side, points out that "in a financial world too often portrayed as cold, and in caricature where everyone seeks to make their narrowest interests triumph, the HEC - BNP Paribas partnership shows that long-term loyalty is a value that has lost none of its relevance!"

^{BNP Paribas et HEC Paris partagent des valeurs communes pour une finance durable}

Read the interview of Sophie Javary and Pascal Quiry on the future of finance

Further information about the BNP Paribas-HEC Paris "Future of Finance" Chair