Ross, Jeffrey and Antle

Stephen A. (Steve) Ross, PhD

Principal, Managing Member and Co-Head of Research & Development

Steve co-founded Ross, Jeffrey & Antle in 2009. He is the Co-Head of Research and works on product development as well as client services.

Prior to Ross, Jeffrey & Antle, Steve founded several investment service firms including Roll and Ross Asset Management Corporation, and he has been a consultant to many investment banks.

Steve is perhaps best known as the inventor of the Arbitrage Pricing Theory (APT) and the Theory of Agency, and as the co-discoverer of risk neutral pricing and of the binomial model for pricing derivatives. Several models that Steve and his coworkers developed — including term structure models and option pricing models — are the standard used by major securities firms.

A widely published author, Steve has written over 100 articles in finance and economics and his introductory finance textbook, Corporate Finance, is used in MBA programs across the country.

Steve is the Franco Modigliani Professor of Financial Economics at MIT, a Fellow of the Econometric Society, and a current trustee of Caltech where he chairs the investment committee. He is a past president of the American Finance Association, a former director of Freddie Mac, CREF, and Gen Re, and a former chairman of the American Express Advisory Panel.

In addition, Steve has served as an advisor to government departments such as the U.S. Treasury, the Commerce Department, the Internal Revenue Service and the EXIM Bank.

Steve was the winner of the 2012 Onassis Prize for Finance, awarded to the world’s foremost academics in the fields of finance, international trade and shipping, for his work on the Arbitrage Pricing Theory and the Theory of Agency.

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Steve Ross