About us

Zeno-Indices is a spin-off company of the University of Liège. It offers consulting services and software products based on mathematical modeling of shareholding structures.

The founding partners include :
Yves Crama and Luc Leruth both founding partners of Gambit Financial Solutions (recently purchased by BNP Paribas Asset Management) and a small team of professionals.

Nobel Prize winner Professor Simon expressed the hopeful wish that « all corporations should be held to a Spartan simplicity in their capital structure ». Observation reveals, unfortunately, that complexity often reigns where simplicity should prevail.

We, at Zeno-Indices, have set our goal to facilitate the work of financial analysts, and more generally, of analysts interested in Corporate Control and Governance, by developing indicators and user-friendly tools to help disentangle the web of corporate structures, identifiy significant poles of control, and provide meaningful measures of control.

Contact us

Zeno-Indices S.A
c/o Yves Crama,
HEC Liège – Université de Liège
Rue Louvrex, 14 (N1)
4000 Liège (Belgique)


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