Peter Carr Obituary, Death: Former Cornell University assistant Professor of Finance, Dr. Peter P. Carr of Brooklyn, New York passed away at the age of 63, from complications from an internal hemorrhage. Dr. Peter was pronounced dead on March 1, 2022 at New York-Presbyterian Brooklyn Methodist Hospital.
Peter was born in Toronto, Canada, the eldest of the three sons of Larry and Livia Caruana. He graduated from Scarlett Heights Collegiate Institute in 1977 and continued his education at the University of Toronto, where he earned a Bachelor of Commerce degree and a Master of Business Administration degree. He received a doctorate in finance from the University of California at Los Angeles in 1989.
Peter had a long, productive, and distinguished career as both a finance academic and industry professional. After beginning an academic career at Cornell University, where he spent eight years as an Assistant Professor of Finance, he left to join Morgan Stanley as a Vice President in 1996 and later Banc of America Securities as a Principal in 1999. He headed Bloomberg LP’s Quantitative Financial Research group from 2003 to 2010, returning to Morgan Stanley as a Managing Director and Global Head of Market Modeling from 2010 to 2016. He returned to academia in 2016 as Chair of the Finance and Risk Engineering Department at New York University’s Tandon School of Engineering. Widely regarded as a brilliant scholar – ranked among the top in the world in financial engineering, quantitative finance, derivatives, and volatility – he was also honored by the financial industry with Risk Magazine’s Quant of the Year Award in 2003 and as IAQF/Sungard’s Financial Engineer of the Year in 2010.
Beyond his many professional achievements, Peter will also be remembered for his kind and generous nature, his happy disposition, and his lack of pretension. He loved the Beatles, hockey, good food, and comfortable clothes. He was an enthusiastic adopter of “bleeding edge” technology, much to the annoyance of his family. He was passionate about all things mathematical, devoting time and energy to the National Museum of Mathematics, where he served on the board of trustees. He was a true friend to many and a cherished husband and father.
Peter is survived by his wife of 23 years, Carol Marquardt, and daughter, Olivia Carr, of Brooklyn, New York; his father, Larry Caruana of Laguna Hills, California; his brothers James Carr (Elaine Chu) of La Canada Flintridge, California and Laurence Caruana (Florence Menard) of Montenoison, France; sisters-in-law Geraldine Marquardt and Lois (Robert) Yogerst of Kewaskum, Wisconsin and Sandra (Thomas) Gudex of Lannon, Wisconsin; and brothers-in-law Sylvester Marquardt of Brown Deer, Wisconsin, Carl (Cindy) Marquardt, also of Kewaskum, and Herman Marquardt of Campbellsport, Wisconsin. Peter is further survived by 16 nieces and nephews; 7 great-nieces and nephews; a large extended family of aunts, uncles, and cousins; and innumerable friends and colleagues. He will be greatly missed by all.
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