PHILADELPHIA - The Alfred P. Sloan Foundation has awarded a $2.5 million grant to the Financial Institutions Center at the University of Pennsylvania's Wharton School to expand research on the financial services industry, the school said.

The award renews a 1992 grant of $3.4 million.

The new grant will allow the center to continue field-based and theoretical research in areas related to risk management and productivity in the financial services industry, Wharton said.

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