Program Director / Advisor
Dr. Somnath Basu joined CLU’s School of Business in 1999 as an Associate Professor of Finance. He started the nationally accredited financial planning programs (MBA and Certificate) at CLU in 2001. Both these programs have been immensely successful under his leadership. He has recently been appointed as the director of the California Institute of Finance.
Dr Basu earned his B.A. in Economics from the University of Delhi in 1975 and began his career as an accountant with a small company in India where he rose to become Chief Accounts Officer. In 1983, Dr. Basu came to the United States to continue his education at Marquette University in Milwaukee, Wisc., and graduated in 1985 with an MBA in Finance. He completed his Ph.D. in Finance at the University of Arizona at Tucson in 1990.
In 1989, Dr. Basu was recruited by the University of Denver (DU) as an assistant professor. He taught Investments and was granted tenure in 1996. Dr. Basu’s tenure committee especially commended his research and teaching achievements. He left DU in 1997 and returned to his native India for a brief period.
Besides being an award-winning teacher, Dr. Basu has a proven track record in academic research and scholarship, with many publications in noted finance journals. Recently, Dr. Basu has conducted research in the emerging field of Financial Planning. His article on Debt Consolidation was published in the May 2003 edition of the Journal of Financial Planning (the premier FP journal). He also has an article on retirement planning, currently under review, with the Journal of Financial Counseling and Planning. A retirement planning software based on the model in this article is expected to be released soon. Dr. Basu is currently working on an Investments Planning textbook (for CFP Board - Registered Programs) with co-authors Professors Block and Hirt, to be published by McGraw-Hill. The book is expected to be available in the Spring 2005.
Dr. Basu also has significant industry experience. Besides his eight years as an accountant, he successfully managed $55 million as the Chief Portfolio Advisor for a portfolio dedicated to high net worth individuals from 1993-96. Dr. Basu is a Senior Consultant for Prudential Relocation, training Fortune 100 companies (such as G.E., Allied Signal, AT&T, PepsiCo, Rockwell Scientific, etc) in conducting business in Southeast Asia and India. As the president of his own consulting company, he developed proprietorial currency risk management software, conducted due diligence work for Hughes Communication and business development consultancy for Tele-Communications Inc. He also trained CFAs for the Denver Society of Security Analysts. Dr. Basu delivered seminars on financial risk management worldwide for ACS Co., an Australian training firm.
CFP Board, in recognition of Dr. Basu’s contribution to the field, has nominated him to various national committees including the prestigious Steering Committee for the AFS/CFP Board Model Curriculum Development. Dr. Basu also works with CFP Board on International issues related to CFP Certification.
