Since its inception in 1998 at the School of Graduate Studies, the Master of Mathematical Finance program (MMF) has maintained its relevance by preparing grads for careers of the future, incorporating advanced technology and industry innovation to its course offerings. After extensive consultations, MMF was welcomed into the Faculty of Arts & Science’s Department of Economics on October 1st, 2025.
We spoke with MMF Director, Professor Luis Seco, about how this intentional move furthers the MMF program’s growth strategy.
When Professor Luis Seco became the director of the MMF professional program in 2007, one of his first assignments was to move the program into a home faculty. The Faculty of Arts and Science (FAS) at the University of Toronto, one of the most comprehensive academic divisions in the world, was the obvious choice. Moving from strength to strength, the 2025 move to the Department of Economics similarly sets the stage for the program’s growth, both in scope and offerings.
“I remain confident this new change will have just as positive an effect on MMF,” said Seco, “as the move to FAS did in 2008.”
Discussions around the integration of MMF into a home department focused on the halo-effect of MMF’s technical prowess and industry modernization curriculum to combine with the Economics department’s more fundamental finance offerings. MMF will enjoy the strength in numbers that comes from collaborating with more faculty members and academic programs across cohorts, along with engaging a vast network of employment partners and alumni. This integration allows MMF to maintain its unique character as a boutique program with all its staff and facilities while maximizing its potential.
“The addition of the MMF program to our existing graduate programs will facilitate a more direct exposure of its students to cutting-edge research methods used in economics and other branches of the social sciences,” said Professor Ettore Damiano, Chair of the Department of Economics. “A close connection with this internationally recognized program in quantitative finance, and its one-of-a-kind course offering, will benefit all of our graduate students. I am looking forward to the opportunities for growth and success that this change will set off.”
The current academic year, 2025-2026, also builds on MMF’s leading edge coursework by offering new emphases in Sustainable Finance and Financial Technologies (FinTech). MMF students can now choose electives or emphasis-specific courses, such as Climate Risk Management, Blockchain Fundamentals, Large Language Models in Finance and a workshop in Social FinTech, to complete their degree requirements.
Widely known in the finance industry as the most quantitative finance master’s program at U of T, MMF grads join the school year already equipped with strong skills in programming, modelling, automation and machine learning. They further develop these competencies in core courses like Information Technology, Dynamic Data Science, Operations Research, Asset Management and Risk Management, taught by practitioners from Canada’s biggest banks and pension funds, as well as top innovators in investment research technology, boutique hedge funds and entrepreneurship.
Seco adds, “The finance industry is equally powered by new technology and long-standing relationships. Joining the Department of Economics leaves us perfectly poised to leverage both for the benefit of our graduates.”