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Peter Carr and me at Cornell, spring 1995

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Fond memories of working as his research assistant

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Fond memories of working as his research assistant

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I was an MBA student at Cornell University's Johnson School in the mid-1990s, when Peter Carr was a professor there.  I worked as his research assistant during the summer of 1994.  He would provide me with equations for pricing exotic derivatives (mostly knock-out options), and I would implement the equations in C code.

Peter was among the smartest people I have ever met.  He was also approachable, down-to-earth, and always cheerful.  He was easy to talk to, and he treated me as an equal, although my knowledge of math and finance paled next to his own.  I really liked him.  I consider it a privilege and an honor that I could work with him.  That summer in Ithaca was the highlight of my two years at Cornell.  I'm greatly saddened that he died so young. My condolences to his wife, daughter, and other loved ones.

-- Alex Chernavsky

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Prof. Carr was a smiley, nice and humble person. He devoted a lot of time to make FRE department better and every student liked him. We will always miss him. May you rest in peace.

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R.I.P. Mr. Carr

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I still remember the first time I saw Prof. Peter Carr was the 2019 FRE orientation, during which he delivered a speech like a superstar. During the 2-year FRE program, he taught the course, hosted the academic seminar, cared about the career development of alumni, connected practitioners with students, etc. To make a long story short: he was such a good mentor that every student liked him.

He also helped me a lot. Before the start of the first semester, I got a chance to have lunch with him and he gave me an introduction to the academic career and encouraged me to pursue the Ph.D. After that, I took his course static dynamic hedging and did the capstone project about the logistic option models with him. His insightful ideas on options and enthusiasm for math have always motivated me these years. I hope in the future we can continue his research and develop his legacy of quantitative finance and I believe that he will be happy about it.

Guangnan (Max) Yang
FRE' 21

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 I will miss you and promise to make you proud. 

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 I will miss you and promise to make you proud. 

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I am student of Peter. I first knew him even before I come to United States. I took a MIT OCW course of Mathematics Finance in 2015 and Peter was a guest speaker of this course. Although the content of this course was very complicate, Peter explained  it in a very simple and easy understanding way which surprised me a lot. The first time I had a face to face speak with Peter was in a Morgan Stanley Campus Event. I did not have confidence in my tech skills and asked lots of question about the quant summer internship program and Peter encouraged me to have a try. The first time I had deep conversion with Peter was after he became the Dept. Chair of NYU Tandon MFE. Peter collected lots of feedback from current students and he promised our program will become better. Then in the next semester, Peter brought lots of very senior people into our program as adjunct professor. I learnt many hands on quantitative skills from them, which helped me find a full time job in NYC. Moreover, the rank of our program rank has changed from No.16 to No.7 in recent 5 years, which made every alumni very proud of it. I kept in touch with Peter after I graduated and almost saw him every week in Brooklyn Quant Experience (BQE) before the pandemic. One time he invited me to YASO TANGBAO for dinner after BQE. I showed him the correct progress to eat this special Chinese food. Peter asked my experiences in preparing quant interview and he told me these experiences should be very helpful for incoming students. Peter is a legend in quant realm. I benefited a lot from him. I not only gained academic skills  but also learnt to be nice and share my knowledge with others. He will impact all my life.”Peter, I will miss you and promise to make you proud. “

RIP - Weiyu Wan FRE ‘17

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Peter,
You're the best supervisor I've ever had. I always knew that you heard me and would thoughtfully consider anything I'd say. You treated me with respect and kindness. You spent decades building a career that would have justified you having a large ego -- but your were always humble. Whenever I think about you the image I hold of you in my mind is one where you are smiling or laughing. Working with you was so easy, so joyous.
Barry

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Peter introducing the rising ranking of FRE Program

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Peter became an angel and continued his great career in heaven.

It was like yesterday that we took his advanced courses, attended the seminars he hold and listened to his cutting-edge thoughts.

Peter did so much to FRE program and he cared about every student. When I was not sure whether to pursue a PhD. after graduation, he had a long conversation with me and encouraged me to chase my dream. Now, I'm a first year Finance PhD. student studying the fields that I love. I'm really grateful that I met such a great guide like him.

Everyone remembers Peter. He now lives in our hearts and keeps giving us power to go further.

Boyan Han,
FRE' 21

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You Are Still With Us Peter.

While I will miss our professional conversations and your ever insightful comments, I know your presence will endure in the reflections of all those whose lives you have touched and that is comforting to so many who have valued your friendship and advice.  Rest well good colleague.

Ron Slivka

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Thank you for everything, Peter. Thank you for encouraging my PhD research, for advising my career choice, for the amazing opportunity to be a part of the FRE community, and most importantly, for always being supportive of me.

I feel tremendously fortunate to have met you, you've had a huge impact on my life, your passing is extremely hard for everyone. I will forever remember your smile, your kindness, and your encouragements. Rest in peace, my mentor and friend.

Jeff Wang

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Lunch with Staff, Faculty and Grad Students at Times Square (Carmine's), New Student Boat Ride and Hudson Yards!

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Peter, this is so hard! You have been an amazing boss and it's tough to imagine you not being here. What I enjoyed most about our working relationship was your trust in my abilities. Before you arrived, I felt devalued in the FRE Department, but that changed through your strong leadership. The Department thrived because of your trust in us. It was a sheer joy being part of your team. You became my personal cheerleader when I graduated from NYU, worked together on the newsletter, the BQE talks, and when you announced that I would host the "Morning Toast" event. You sent a thoughtful email the next morning thanking me for stepping in at the last minute. Even with your busy schedule, you always took time to say "thank you!" In one of our last email exchanges, I asked what you needed from me for the upcoming Grad. Admissions event and you said, "Just your incredible EQ, Z!" You made us all feel special, and a part of something truly special. Your kindness went above and beyond. When you learned of my son's brutal attack, you offered to help in ways I'll never forget (tears)! Thank you, Peter, for everything. You are already missed. Your legacy will continue and the office will never be the same. RIP - Zahra Patterson

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The FRE program won't be where it is today without Prof. Carr

I came to NYU for my second masters degree just because I knew the program will one day be No. 1 due to you behind the helm.

You will be sorely sorely missed
RIP

Stephen Lin FRE '22

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I first met Peter 10 years ago when a mutual friend suggested that I talk to him about an option pricing problem I was having some difficulty with. We talked over dinner, and he promptly pulled out his pen, took hold of a napkin, and drew a picture which immediately clarified my thinking. So typical of Peter!

But Peter was much, much, more than a quick study: he was a deep, polymathic, and open-minded thinker, a great listener, a ferociously quick absorber (and re-explainer) of new and unfamiliar ideas; a warm, pleasant, and engaging personality, and most importantly, an extraordinarily generous person, both with his time and with his thoughts. He had the rare ability to bring out the best in everyone he interacted with, and was very supportive of curricular experiments that departed from the mainstream, so long as our students learned something of value. Small wonder, then, that the department's ratings soared during his tenure!

The last time we talked was on a cold day in January. We shared our concerns about our elderly relatives, as well as our excitement about all the new things we were going to try in our classrooms in the Spring semester. After our meeting ended, we laughed, shook hands, and waved goodbye to each other, but the thought never crossed my mind that this would be  our last laugh together. His broad smile and his outstretched hand will remain etched in my memory forever.

Thank you, Peter, for everything you did, both for the department and for everyone you interacted with. You will be sorely missed.

Thomas Philips

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A rare combination of scholar and leader

It was a pleasure to work with Peter because he valued good thinking and good teaching and was an excellent judge of both. He was a great listener, an efficient decision-maker, and a person of great integrity. He brought out the best in me. A fantastic leader who would have undoubtedly led FRE to be the number one program in the world. I am sad to lose him and will miss him dearly.

Dan Gode

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There aren't enough words to express the gratitude that I have for being fortunate enough to have been your colleague. I have never had a better cheerleader, or someone who believed in my worth and capabilities as you did. Your kindness, your generosity, and your warmth have affected me deeply, and you will never be forgotten. It will be hard to come into the office every day, and to see your door and realize that we won't see you come in, to hear your genuine delight in seeing us day to day, or to hear your wonderment at getting one of your myriad electronic devices to work. I hope that we will be able to keep advancing your work moving forward, and maintain your legacy within the department. We will work our hardest to keep your spirit and the culture you instilled in our department alive and well. Thank you for everything Peter... I will miss you dearly.

James

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I can't express how sad I am at losing Peter.  Peter never wavered in his kindness, laughter and enthusiasm, particularly for mathematics. As an academic, he made several seminal contributions to mathematical finance.

The man was ineffably tied to the mathematics.  Once, in a meeting with a human resources person at a major bank, Peter explained how our approach to compensation was just tensor analysis.  However, like the famous physicist Richard Feynman, Peter believed that if you can't explain something simply, you don't understand it.  He frequently eschewed Ito stochastic calculus, the type of graduate level math in which he was an expert, for what he called the discrete Ito calculus which involves only high school level mathematics.

However, Peter went beyond mathematics in how warm, generous and gregarious he was.  He was the epitome of what Malcolm Gladwell called a connector in bringing together members of the mathematical finance community from all over the world, of all ages and of all ethnicities.  He helped so many people in their careers.  I can't begin to count the number of ways in which helped me.  The warmth of his friendship was immeasurable. I consider myself lucky to have known him.

Physicists say that if the universe is expanding, the laws of physics can not be reversed.  Peter Carr expanded our universe.  Peter Carr can not be replaced.

Kevin Atteson

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Rest in peace, Professor Carr. All this came so fast that seems unbelievable to me! Back to 2017, I reached out to you in linkedin, you answered my message and gave me courage and chance to quant finance field. You are so kind, so amiable and humor. I am grateful and really appreciate your help, your kindness and your spirit to knowledge that inspires us. I haven`t contact with you for more than a year, since I wish I could come to New York to visit you face to face and show my gratitude, but I can`t image I have no chance to do that. I miss you and cherish the memory of all of you. May you rest in peace.

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I can’t even tell how many times you helped me, encouraged me, inspired me, just like we’ve been met for a long time.. I still remember you went thru my resume with your salad half finished in Tandon canteen.. you referred me to Prof. Engle’s PhD course and joked “he is very very smart, don’t be discouraged” with a typical warming smile,you hugged me and said congrats in the graduation ceremony .. I still remember once you travelled to Shanghai and gave a speech in Fudan University, I was sitting downstairs and you recognized me during the Q&A session, then you walked towards me and shake my hand, just like an old friend… So many memories…!!…….Rest in peace Prof. Peter….

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Huge loss for NYU and the whole finance world

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Huge loss for NYU and the whole finance world

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I first took Derivatives class taught by Peter at Cornell Business School back in the 1990's as an undergrad. When I came to his office hours, he joked that he should go to the bar with me so he won't get carded - I was underage but looked older, while he looked ridiculously young. I saw him last shortly after he came to Tandon when he was soliciting feedback from my some of the FRE alums (which I am). I reminded him of the story and we had a few laughs. He was not just a stalwart in the quant finance community, but a truly nice and kind person. So sad to see him gone. RIP.

Igor Tsukerman FRE '06

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I met Professor Carr  for the first time through Professor Geman at the Eastern Conference in Mathematical Finance (ECFM) in 2017 at NYU. I met Professor Carr again at the ECMF at BU in 2019. Although highly regarded and respected in the academic and finance communities, he was approachable and amicable.  He believed in people’s potential, regardless of their race or color. He has made such an indelible impact on my emerging academic career.

Professor Carr was the perfect balance between high intelligence, deep wisdom, and sincere humility. The loss of Professor Carr is terribly sad and is leaving a big hole almost impossible to fill. I pray that God bring comfort to his wife and children (Psalm 68:19, 20). I pray that God remember Professor Peter Carr for what he has done for a better humankind (Nehemiah 5:19).

Bruno G. Kamdem

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Peter had ears to listen, eyes looking for quality, and the ability to shape the world around him for the better. Shortly after becoming Chair at the NYU program Dr Carr hosted several rounds of discussions with alumni of the program.  This is when I first met him in person.  I won’t soon forget how intently he listened to students.  He was absolutely intent on leading the program to new heights - and he absolutely delivered (in research, rankings, and in career outcomes for graduates).  I’ll not soon forget the kindness of his brilliant wife who offered us hungry graduates tasty cheeses while we all reminisced and brainstormed with Professor Carr about innovations in the field.  I will always remember Professor Carr as a dedicated and generous professional interested in raising the next generation of Financial Engineers as best possible.  Ein großzügiger und weiser Vater des Financial Engineering.

Mark Weisenborn FRE ‘15

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Rest in peace, Professor Carr. I cannot even count how many times you had helped me. Without your help, I would not be able to finish my research at NYU. Without your help, I would not be able to purse my PhD.  Without your help, I would not be able to....

I still remember that you and I took subway from Brooklyn to Manhattan for lunch. You were drawing formulas and graphs on the tissue paper we took from your office; teaching me volatility products. A lot of great memories. As Sara wrote on the Linkedin post, "We promise to make you proud".

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Professor Peter Carr was a mentor, a friend, and someone whom I could always rely on. He had a vast expanse of knowledge and had a heart full of kindness. He was an inspiration to me and speaking with him brought out the best in me. It has been a honor to have known him these past 3 years. He will be deeply remembered by all of us.

Vibhor Chandra Gupta MFE '23

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Carmen, Peter, and Jennifer at NYU Tandon's holiday party. 

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Rest peacefully, Peter. You made an everlasting impact on everyone you met. I am so happy I joined the department 3 years ago and had an opportunity to get to know you. You are so kind, so caring, and will be deeply missed. We feel your loss but we will continue to make you proud. Thank you for everything.

Peter was by far the nicest person I have ever met and he wanted to see everyone succeed. A real gem.

Jen Novicki