Old Boys connections - Dr Iain Dunning '01 and BC Cho '09
Tuesday, 16 April 2024
Auckland Grammar School has a vast network of Old Boys, from all walks of life based around the world. Throughout their time at the School, the motto Per Angusta Ad Augusta - from difficulties to greatness - remains steadfast, something that Dr Iain Dunning ‘01 knows to be true.

“Per Angusta Ad Augusta captures the spirit really well. I think a Grammar education is about preparing boys for the next stage of life and when I meet with fellow Old Boys in New York, I see that long-lasting impact of that common preparation for all life’s challenges. I feel proud and lucky to be an Old Boy.”

Iain runs the Artificial Intelligence (AI) team at New York-based automated trading firm Hudson River Trading which look into stocks, futures, options and more in markets around the world using algorithms. Broken down in simpler terms, Iain explains in the ins and outs.

“One form of trading we engage in is market making: when someone wants to buy or sell a stock, our algorithms will compete with other trading companies to offer the best possible price. To do this, we employ state-of-the-art AI techniques to integrate any data that might drive markets. We make up about one in ten trades conducted around the world every day!”

Iain is not the only Old Boy working at Hudson River Trading - Byung-Cheol (BC) Cho ’09 is one of the team leaders, under Iain’s supervision. The only Kiwis in their team, Iain and BC have worked side-by-side for almost six years - with both of them starting on the same day by complete coincidence - and they often talk of their shared experiences at Grammar.

Despite not overlapping as students while at School, the two shared a number of teachers in common, something BC said he didn’t really appreciate until after he left. “That's a pretty unusual thing outside of Grammar to have masters with long tenures.” Iain reiterated BC’s sentiments. “BC and I took similar paths in exploring higher education in the US; Hudson River Trading is one of the more popular places to work for top graduates in STEM programs at these US schools. Even though we didn't attend Grammar at the same time, it is fun to compare notes and realize just how many shared experiences we have.”

Iain and BC both made the move to the United States after graduating from Grammar, Iain gaining his PhD in Operations Research from MIT and BC obtaining a Bachelor of Science in Electrical Engineering from Princeton University. But both Iain and BC recognised the importance of a Grammar education, with Iain reflecting on the termly examinations that students sit. “The quality of the teaching is outstanding, but something that stands out in retrospect was the regular and rigorous examination system. There is always stress doing exams, but through practice one learns a lot about how to manage that stress.”

BC spoke about how Grammar really grounded him and how the School’s values played a big role in how he approaches his work. “I think of Grammar as being a really formative part of my life. In some sense it felt a bit like a private boarding school, but with the accessibility and groundedness of a public school. The emphasis on character, standards for excellence, and value of tradition have stuck with me.

“Grammar’s culture about striving for excellence is reflected in the class streaming structure, in how it recognizes academic and sporting achievements, and how it encourages students to challenge themselves and participate on the national and international stage.” Moving to the other side of the world - especially as a young adult straight out of high school - can be a daunting experience, but with a wealth of opportunities available, Iain and BC both had the same piece of advice - just do it.

“Studying, living and working overseas gives you real perspective for your place in the world, and it is humbling to not be the biggest fish in the sea! There will be sacrifices to be made when moving across the world, even in this connected age, but it is a very effective way to push your comfort zone and grow in a way that will help you no matter what path you choose in the future.”