Research Associates at the Centre for Analytical Finance (CAF), Indian School of Business (ISB) have much to celebrate this year. Two young researchers from the Centre have successfully secured admission to the top PhD programmes in Finance across the globe. Arkodipta Sarkar will enroll in the PhD programme in Finance at the London Business School, University of London in the autumn semester of 2014. Subhendu Bhowal will join the PhD programme in Finance at Sloan School of Management, Massachusetts Institute of Technology later this year.