Herbert F. Ayres

March 11, 1927 – May 8, 1987

Brief Biography

Herbert Ayres was the 29th President of TIMS. He was Vice President-at-Large of TIMS (1970-77), Chairman (1974-76) and Vice Chairman (1972-74) of the College on the Practice of Management Science (now The Practice Section of INFORMS), behind which he served as a major orgaizer and overall prime mover. He also served on the Bank Administration Institute Research Council. 

He was Chairman of the Ayres, Barry Corporation when he served as President, Vice President and Director of Research at J.P. Morgan and Company (1978-80), and Vice President (Operations Research) for Morgan Guarantee Trust Co. (1967-76) after having been their Director of Operations Research (1963-67). Previous to this, from 1948 to 1962, he worked in the electronics industry, most of the time with Laboratory For Electronics, Inc. (LFE).

Ayres' work in operations research focused on financial applications, including bond arbitrage analysis & modeling, cash flow projection models, interest rate forecasting, long range planning, market timing, optimal bond swap analysis, pension fund performance standards, the random nature of stock prices, risk aversion in warranty markets, and stock selection models. He also wrote about operations research practice and the functioning of TIMS. His articles have appeared in Atti Convegno Internazionale Sui Metodi QuantitativiFinancial Analysts JournalInterfacesManagement Science, among others, and he presented frequently at meetings of TIMS, the Operations Research Society of America, AIDS, CRISP, IQRF and AIEEE.

Other Biographies

INFORMS. Miser-Harris Presidential Gallery: Herbert F. Ayers. Accessed May 28, 2015. (link)


Massachusetts Institute of Technology, SB & SM 1950


Academic Affiliations
Non-Academic Affiliations
  • Ayres, Barry Corporation
  • J. P. Morgan and Company

Key Interests in OR/MS

Application Areas


New York Times (1987) Deaths: Ayres - Herbert F. May 8. 12. 

Awards and Honors

Institute for Operations Research and the Management Sciences Fellow 2002

Professional Service

The Institute of Management Sciences (TIMS), President 1982-1983, Vice President-at-Large 1970-1977

College on the Practice of Management Science (CPMS), Chairman 1974-1976, Vice Chairman 1972-1974

Bank Administration Institute Research Council