The Financial Mathematics Research Group of the Department of Mathematics at the London School of Economics and Political Science (LSE) has openings for PhD students. We are seeking exceptionally talented and motivated students with a strong mathematical background and interest in financial mathematics, stochastic optimal control, stochastic analysis and related areas.

The research group consists of Christoph Czichowsky, Albina Danilova, Pavel Gapeev, Arne Lokka, Luitgard Veraart and Michalis Zervos covering all areas of financial mathematics including optimal investment, pricing and hedging of financial derivatives, financial markets with frictions, optimal execution, systemic risk and stochastic optimal control.
PhD students are enrolled at LSE and take part in the London Graduate School in Mathematical Finance – a consortium of the financial mathematics groups of Birkbeck College, Brunel University, Cass Business School, Imperial College, King’s College, LSE and UCL – and are expected to complete their studies within four years. Applicants will be considered for LSE fellowships covering fees and paying GBP 18,000/year (approximately EUR 20,000 or USD 23,500) for up to 4 years. The fellowships are usually tax free. The award of these scholarships is competitive, based on academic performance (typically in an MSc or equivalent).

Potential PhD students should either submit a formal application or send an informal application by email to our research manager Enfale Farooq
These informal applications should consist of:

  • Copies of academic transcripts covering all study to date
  •  An up-to-date CV
  •  A brief research proposal with (1) a clear indication of the specific questions and direction of your proposed study, and (2) a short summary of your motivation to undertake a PhD, detailing what areas of mathematics you find especially engaging and important. An extensive literature review is not required. The research proposal should not extend one page and should not be a big undertaking. It should merely illustrate that the candidate has a certain grasp for financial mathematics and is motivated for PhD-level studies.

All informal applications are screened and, if appropriate, a formal application is encouraged and interviews may be scheduled. The first (of two) funding deadline for formal applications is 17 December 2020. However, early application is encouraged.
For further details, please visit
For academic questions, applicants can contact Christoph Czichowsky