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HEC Paris Creates the Jean-Marie Eveillard Endowed Chair in Value Investing

The HEC Foundation announced the creation of an endowed chair in value investing, financed by Jean-Marie Eveillard (H62), one of the most successful global value investors in history. The first chair holder is HEC Professor of Finance Augustin Landier.

Jean-Marie Eveillard

The Jean-Marie Eveillard Endowed Chair in Value Investing was created thanks to a €1.5 million gift from one of the world’s pioneering investors in global value stocks. The chair aims at promoting research and education in behavioral finance and value investing. “We are extremely grateful to Jean-Marie Eveillard for his generosity,” said HEC Dean Peter Todd. “His commitment to supporting research and teaching at HEC inspires us.”

The first year of the chair will see the introduction of a behavioral finance class in the HEC curriculum, as well as the supervision of master theses on market anomalies by the school’s MiF students. Academic research will focus on market anomalies based on fundamental analysis, and on sustainable finance.

The chair’s first holder, Augustin Landier, is known for his research on behavioral and corporate finance, asset management and banking. In 2014, Landier was named “Best Young Economist” by Le Cercle des Economistes. Prior to taking his post at HEC in 2017, he has taught or been visiting professor at Harvard Business School, Princeton University, New York University, the University of Chicago and the Toulouse School of Economics. “I am deeply honored to be the inaugural chair holder,” he declared. “Jean-Marie Eveillard is a legendary investor who has one of the best long-term track records in the business. We are proud to be able to reinforce research and teaching at HEC on the principles and the historical achievements of value investing with his support.”

Jean-Marie Eveillard helped grow the First Eagle Global Fund from $15 million in early 1979 to about $50 billion in mid-2019. He received a Lifetime Achievement Award from Morningstar in 2003 for building one of the most successful long-term records in the investment business. From his base in the United States, Jean-Marie Eveillard has served as portfolio manager for the First Eagle Global Fund between January 1979 and December 2004 (26 years) and between April 2007 and March 2009 (24 months).  Over the past ten years, he was and is Senior Adviser to First Eagle Investment Management and trustee to the First Eagle Funds.  Ten years ago, Jean-Marie wrote a book “Value Investing Makes Sense” which is available in English, in French, in German and in Spanish.

The €1.5 million endowment to support HEC’s research and education arrives as the school’s Foundation launches its most ambitious fundraising campaign ever. “Impact Tomorrow” is a call to alumni and donors across the world to pledge their support to a €200 million fundraising drive. “This gift,” concluded Peter Todd, “will enable HEC to help attract and support eminent scholars of international reputation.”