CLEVELAND, Dec. 1, 2006 (PRIME NEWSWIRE) -- After more than three years of study, 19 local investment professionals in the Cleveland area have earned the prestigious Chartered Financial Analyst(r) (CFA(r)) designation, CFA Society of Cleveland (CFASC) announced today.
These individuals will be awarded the CFA charter in a ceremony hosted by CFASC Tuesday, December 5, at The Intercontinental Hotel, Cleveland. Delivering the keynote address will be Martin Fridson, who is "perhaps the most well-known figure in the high yield world," according to Investment Dealers' Digest.
Over a 25-year span with brokerage firms, including Salomon Brothers, Morgan Stanley, and Merrill Lynch, Mr. Fridson became known for his innovative work in credit analysis and investment strategy. For nine consecutive years through 2002, participants in the Institutional Investor All-America research survey ranked Mr. Fridson first in his category. The magazine's editors dubbed him "the dean of the high yield bond market." In 2003, he launched the first independent research business focusing on high yield bond strategy, FridsonVision.
Administered by CFA Institute, the CFA Program is a college graduate-level, self-study curriculum and series of examinations that test candidates around the world in ethical and professional standards, equity, debt, and derivatives analysis, alternative investments, financial statement analysis, quantitative methods, economics, corporate finance, portfolio management, risk management, asset allocation, and performance measurement.
The CFA charter is a globally recognized standard for measuring the competence and integrity of investment professionals. Currently, there are more than 76,000 CFA charterholders in 124 countries. Their job titles include institutional or private client investment manager, investment banker / broker dealer, mutual fund manager, investment consultant, or commercial / retail banker.
CFA Institute administered the CFA exams simultaneously at 186 test centers in 86 countries in June. Candidates for the CFA designation must pass a series of three six-hour exams over at least three years. It is recommended that candidates spend a minimum 250 hours in study preparation for each of the three examinations. Candidates take, on average, a little more than four years from initial enrollment to the time they complete all requirements for the CFA designation.
With an overall pass rate of 76 percent, 12,314 candidates passed the third and final exam in the CFA Program series this year and expect to receive their charter.
In Cleveland, the following individuals have earned the CFA charter:
-- Scott Robert Antill, CFA -- Ravi S. Bhagavatula, CFA -- Jerry Garfield Brown, CFA -- Juan Carlos Calzada, CFA -- George B. Chapman III, CFA -- Chiawen Cheng, CFA -- Richard P. D'Amico, CFA -- Craig A. Dylewski, CFA -- Alison Sarah Gordon, CFA -- Jeffrey Mark Graff, CFA -- Michael Charles Kirchner, CFA -- Joseph Samuel Madrid, CFA -- John P. Micklitsch, CFA -- Nicholas Edward Mitchell, CFA -- David M. Mrosko, CFA -- Krishna R. Patel, CFA -- Sean M. Roche, CFA -- Stiliyan N. Velkov, CFA -- Yi Wang, CFA
CFA Institute continues to award additional charters weekly as candidates who have passed all three exams meet all other requirements, including the completion of at least three years of professional investment experience and the submission of a statement committing to adhere to the CFA Institute Code of Ethics and Standards of Professional Conduct.
John King, CFA, president of the CFASC, said, "The CFA designation is the hallmark of excellence in the global investment community. It is well recognized that individuals who have earned the CFA charter have made personal commitments to an intensive study program and ethical standards of professional behavior."
About CFA Society of Cleveland
CFA Society of Cleveland (CFASC), formerly The Cleveland Society of Security Analysts, was founded in 1950 and provides investment-related programs and services to its Northeast Ohio-based membership. CFASC has approximately 460 members -- primarily portfolio managers and analysts working throughout the professional investment community. The mission of CFASC is to promote excellence, education and integrity in the investment management profession. For more information, visit www.cfasc-cfai.org.
The CFASC is a member society of CFA Institute, the global, non-profit professional association that administers the Chartered Financial Analyst((r)) (CFA((r))) curriculum and examination program worldwide publishes research, conducts professional-development programs, and sets voluntary, ethics-based professional and performance-reporting standards for the investment industry. CFA Institute has more than 88,000 members in 130 countries, including more than 76,000 charterholders, as well as 134 affiliated professional societies in 55 countries and territories. CFA Institute is headquartered in Charlottesville, Va., USA, with regional headquarters in London, Hong Kong, and New York. More information may be found at www.cfainstitute.org.