Riccardo Rebonato is global head of market risk and global head of quantitative research and quantitative analysis at the Royal Bank of Scotland. He is visiting lecturer in mathematical finance at the University of Oxford and adjunct professor at the Tanaka Business School, Imperial College London. His books include "Volatility and Correlation: The Perfect Hedger and the Fox" and "Modern Pricing of Interest-Rate Derivatives: The LIBOR Market Model and Beyond" (Princeton).