A novel model for ultrafast laser-induced magnetization dynamics is analyzed. Equilibration of the magnetic system is described by including electron-phonon scattering events with a finite spin flip probability. Recently, we demonstrated that such a model predicts a direct relation between the demagnetization time and the Gilbert damping. Here we present numerical simulations based on the same Hamiltonian, but including the presence of an external applied field. Thereby, reversal of the magnetization after heating above the Curie temperature (Tc) can be modeled. We demonstrate that magnetization reversal can be achieved even if the lattice temperature stays below Tc.
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