Student team: Quynh-Anh Le, Alicia Wen, Michael Huang and Jei Raman Gnaneswaran, with industry mentor Jeannine LiChong.
Thursday, May 14, 2026

University of Waterloo students take the top spot at CFA Institute Research Challenge global finals in Hong Kong

By Rachel Doherty

A team of students from the University of Waterloo’s School of Accounting and Finance (SAF) has taken first place at the prestigious CFA Institute Research Challenge, earning the global title for the third time in the past decade. Competing against more than 8,000 students from 1,200 universities worldwide, the team advanced through six rigorous rounds before claiming the championship in Hong Kong.

Representing Canada on the global stage, the students delivered a standout performance built on months of in-depth research, industry engagement and intensive preparation. Their success reinforces Waterloo’s reputation for excellence in finance education and makes it the only Canadian institution ever to win the competition.

We couldn't be more proud of these students. The depth of work they put in, the primary research, the preparation, the hundreds of appendix slides — it showed in every round. When it came to the global final, they were ready for anything. That's the Waterloo difference.

Steve Balaban

Faculty Advisor to the team & Professor, School of Accounting and Finance