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Speakers

Tobias Adrian, Vice President - Capital Markets Function, Federal Reserve Bank of New York

Tobias Adrian is a Vice President of the Federal Reserve Bank of New York, with the Capital Markets Function of the Research Group. His research covers asset pricing, financial intermediation, and macroeconomics, with a focus on the aggregate implications of capital market developments. He has contributed to the NY Fed's financial stability policy and to its monetary policy briefings. Tobias Adrian holds a Ph.D. from MIT and an MSc from LSE. He has taught at MIT and Princeton University.

 

Sheila Bair, 19th Chairperson of the U.S. Federal Deposit Insurance Corporation

Sheila C. Bair served as Chairman of the Federal Deposit Insurance Corporation during one of the nation’s most turbulent economic eras in history.  With the collapse and upheaval of U.S. and global markets as well as venerable financial institutions, Chairman Bair worked diligently both in front of and behind the scenes to bolster public confidence and financial system stability. Her extraordinary efforts and relentless dedication established her as an ardent advocate and innovator of policies to end the doctrine of too-big-to-fail and taxpayer bailouts.   Chairman Bair has been lauded for her fierce advocacy of the public interest in articles and editorials in the New York Times, the Wall Street Journal, the Guardian, Financial Times, and the New Yorker. As Time Magazine aptly stated in selecting her as one of its 100 most influential people, she has served as “the little guy’s protector in chief.” Additionally, Chairman Bair has received numerous honors and accolades for her pioneering work including the John F. Kennedy Profile in Courage Award and twice being named by Forbes Magazine as the second most powerful woman in the world after Germany’s Angela Merkel.

 

Manuel Balmaseda, Chief Economist, CEMEX 

Dr. Balmaseda has impressive credentials, collaborating with the International Monetary Fund (IMF), the European Commission, and the Organisation for Economic Co-operation and Development (OECD). Previously, he served as chief economist at BBVA, the multinational banking giant, and currently teaches macroeconomics at the International Graduate School of Management of Barcelona and Madrid. As global chief economist, he influences business decision at CEMEX, widely known as a leader in supplying building materials and related services. CEMEX operates in more than 50 countries across five continents.

 

Jagdish Bhagwati, Professor of Economics and Law, Columbia University

Jagdish Bhagwati is a University Professor at Columbia University and a Senior Fellow in International Economics at the Council on Foreign Relations. He has been Economic Policy Adviser to Arthur Dunkel, Director General of GATT (1991-93), Special Adviser to the UN on Globalization, and External Adviser to the WTO. He has served on the Expert Group appointed by the Director General of the WTO on the Future of the WTO and the Advisory Committee to Secretary General Kofi Annan on the NEPAD process in Africa, and was also a member of the Eminent Persons Group under the chairmanship of President Fernando Henrique Cardoso on the future of UNCTAD. Five volumes of his scientific writings and two of his public policy essays have been published by MIT press. The recipient of six festschrifts in his honor, he has also received several prizes and honorary degrees, including awards from the governments of India (Padma Vibhushan) and Japan (Order of the Rising Sun, Gold and Silver Star). Professor Bhagwati's latest book In Defense of Globalization was published by Oxford University Press in 2004 to worldwide acclaim.

 

Matthew Borsch, CFA, Vice President, Global Investment Research, Goldman Sachs

Matthew Borsch is a vice president and senior investment research analyst at Goldman Sachs, covering the managed care and health care provider sectors. Before joining Goldman Sachs in February 2001, Borsch was an executive in the managed care industry for six years with Physicians Health Services, a health insurance company, and Telesis Medical Management, a physician management company. Previously, he spent seven years as a management consultant with Accenture. Borsch is also an adjunct professor at Columbia University, where he has taught graduate-level courses on the managed care industry since 1997. Borsch is a chartered financial analyst. He received two master’s degrees from Columbia University in 1994, an M.B.A. and M.P.H., and a joint B.A./B.S. in economics and mathematical sciences from The Johns Hopkins University in 1986. Borsch is ranked among the top three research analysts covering the health insurance and managed care sector under the 2007 and 2008 Greenwich Associates investor polls and runner-up under the 2008 and 2009 Institutional Investor magazine survey.

 

Alberto Cavallo, MIT Sloan, The Billion Prices Project

Alberto Cavallo is the Cecil and Ida Green Career Development Professor and an Assistant Professor of Applied Economics at the MIT Sloan School of Management. His research focuses on the micro behavior of prices and its implications for macro models and policies. Cavallo’s empirical work is based on the use of scraped data obtained from online retailers across the world. He co-founded the Billion Prices Project at MIT Sloan, which collects daily data from over 400 retailers in more than 50 countries. Cavallo also manages InflacionVerdadera.com, a website that provides daily inflation statistics for Argentina. Prior to MIT Sloan, he worked for McKinsey & Company and was a founder of Dineromail, a leading online payments provider in Latin America. Cavallo holds a BS from Universidad de San Andrés in Argentina, an MBA from the MIT Sloan School of Management, and a PhD from Harvard University.

 

Eric Chaney, Chief Economist, AXA Group, Head of Research, AXA IM

Eric Chaney is chief economist for the AXA Group since 2008. His mission is to provide a vision on the most likely global macroeconomic scenarios in the medium to long term, as well as an assessment of the main macroeconomic risks, for the group at large and its main entities. Eric has his office at AXA Investment Managers, where he is Head of Research. Eric has launched the AXA IM Economic Symposium (Paris 2010, London 2011 and 2012), which featured prominent speakers such as Stephen Roach, Francesco Giavazzi, Jacques de Larosière, Charles Goodhart, Sushil Wadhwani, P.O. Gourinchas, Stephen Li Jen, Thomas Huertas From 2000 to 2008, Eric Chaney was Chief economist for Europe at Morgan Stanley, which he had joined in 1995. Previously, he headed the economic forecasting unit of the French statistical office (INSEE). Before that, he was responsible for global forecasts and analysis at the French Treasury. He has been associate professor at the French School of Administration (ENA). Since 1997, Eric has been a member of the French Economic Council of the Nation, which advises the Minister of finances. He is also member of the French Tax Council and sits on the executive committee of the French Economic Association. A former professor of Mathematics and editor of a mathematical journal of the University of Strasbourg, Eric also holds a Master’s Degree in economics and econometrics from the Paris Graduate School of Economics, Statistics and Finance (ENSAE ParisTech). Eric lives in Paris, is married and has five children.

 

Ren Cheng, Senior Research Consultant, Fidelity Investments

Ren Cheng is senior research advisor for Fidelity Management & Research Company (FMRCo), Mr. Cheng assumed his current position in the Asset Allocation Division of FMRCo in October 2009 and is responsible for working with investment teams across the company on asset allocation and research. He reports directly to president of the Asset Allocation Division, Derek Young. Mr. Cheng joined Fidelity in 1994. He invented and developed the concept of Target Date Funds from 1994 to 1996. He served as the first manager of the Fidelity Freedom funds from October 1996 until September 2007. He also started and managed the first national level 529 College Investment Funds, The Fidelity UNIQUE 529 portfolios in 1998. Mr. Cheng acted as managing director of the Global Asset Allocation group from September 2005 until assuming the role of chief investment officer of the Global Asset Allocation Group in September 2007. He took a leave of absence from Fidelity in March, 2009 and returned in October 2009 under his current title. Mr. Cheng was responsible for managing over $150 Billion of assets when he took leave of absence. Prior to joining Fidelity, Mr. Cheng spent nine years at Putnam Investments, from 1985 to 1994, leaving the company as a senior vice president and senior portfolio manager. He was responsible for managing risk-controlled asset allocation portfolios for U.S. and international institutional clients. Born in 1957, Mr. Cheng earned a Bachelor of Arts degree in economics from National Taiwan University in 1979 and a master’s degree in economics from Brown University in 1983. He is a PhD candidate at Brown University.

 

David Crowe, Chief Economist, National Association of Home Builders

David Crowe is Chief Economist and Senior Vice President at the National Association of Home Builders (NAHB).   Dr. Crowe is responsible for NAHB’s forecast of housing and economic trends, survey research and analysis of the home building industry and consumer preferences as well as microeconomic analysis of government policies that affect housing.   Dr. Crowe is also responsible for the development and implementation of an innovative model of the local economic impact and fiscal cost of new home construction, which has estimated the net impact of new housing in over 500 local markets.  Past research has concentrated on home ownership trends, tax issues, demographics, government mortgage insurance, local land use ordinance impacts and the impacts of housing on local economies.   Before becoming NAHB’s Chief Economist, Dr. Crowe was NAHB’s Senior Vice President for Regulatory and Housing Policy.  Prior to NAHB, Dr. Crowe was Deputy Director of the Division of Housing and Demographic Analysis at the U.S. Department of Housing and Urban Development.   He has served on federal advisory committees to the Census Bureau and to the U.S. Department of Housing and Urban Development.   Dr. Crowe holds a PhD in Economics from the University of Kentucky.

 

William C. Dudley, President and CEO, Federal Reserve Bank of New York

William C. Dudley became the 10th president and chief executive officer of the Federal Reserve Bank of New York on January 27, 2009. In that capacity, he serves as the vice chairman and a permanent member of the Federal Open Market Committee (FOMC), the group responsible for formulating the nation's monetary policy. Previously, Mr. Dudley served as executive vice president of the Markets Group at the New York Fed, where he also managed the System Open Market Account for the FOMC. The Markets Group oversees domestic open market and foreign exchange trading operations and the provisions of account services to foreign central banks. Prior to joining the Bank in 2007, Mr. Dudley was a partner and managing director at Goldman, Sachs & Company and was the firm's chief U.S. economist for a decade. Prior to joining Goldman Sachs in 1986, he was a vice president at the former Morgan Guaranty Trust Company. Mr. Dudley was an economist at the Federal Reserve Board from 1981 to 1983. Mr. Dudley received his doctorate in economics from the University of California, Berkeley in 1982 and a bachelor's degree from New College of Florida in 1974. In 2012, Mr. Dudley was appointed chairman of the Committee on the Global Financial System of the Bank for International Settlements (BIS). Previously, Mr. Dudley served as chairman of the Committee on Payment and Settlement Systems of the BIS from 2009 to 2012. He is a member of the board of directors of the BIS and the board of trustees of the Economic Club of New York.

 

Paul DownsYou're the Boss, NY Times Blogger

Paul Downs, who writes Staying Alive, started making custom furniture in 1986, shortly after graduating from the University of Pennsylvania with a degree in engineering. His company, Paul Downs Cabinetmakers, grew to a peak of 23 employees and $2.3 million in sales in 2008. The recession caused the company to shrink dramatically, to seven employees and $1.4 million in sales in 2009. Mr. Downs has only one line on his résumé but he has a wide variety of skills gained in 24 years of running his business. His clients range from individuals and small businesses to Fortune 500 companies, all branches of the military, and foreign governments. Mr. Downs is married, has three sons, and lives outside Philadelphia.

 

Robert Dye, Chief Economist, Comerica Bank

Robert A. Dye, Ph.D., is Senior Vice President and Chief Economist at Comerica Bank. He leads the Comerica Economics Department and provides commentary and research on the U.S. economy and the economies of Michigan, Texas, California, Arizona and Florida to Comerica, its clients and to national and regional media outlets. Dye most recently was Senior Vice President and Senior Economist for PNC Financial Services Group. Previously, he served as Vice President and Economist at Realpoint and Senior Economist for Moody’s Economy.com and Wharton Econometrics. He is on the board of directors of the National Association of Business Economics and past president of the Economic Club of Pittsburgh. A graduate of Marietta College, Dye earned a BS in Petroleum Engineering. He holds a master’s degree in Natural Resources from Ball State University and a doctorate in Energy Management and Policy from University of Pennsylvania. Follow Dye on Twitter @Comerica_Econ.   The articles and opinions in this publication are for general information only, are subject to change, and are not intended to provide specific investment, legal, tax or other advice or recommendations. The information contained herein reflects the thoughts and opinions of the noted authors only, and such information does not necessarily reflect the thoughts and opinions of Comerica or its management team. We are not offering or soliciting any transaction based on this information. We suggest that you consult your attorney, accountant or tax or financial advisor with regard to your situation. Although information has been obtained from sources we believe to be reliable, neither the authors nor Comerica guarantee its accuracy, and such information may be incomplete or condensed. Neither the authors nor Comerica shall be liable for any typographical errors or incorrect data obtained from reliable sources or factual information.   Comerica Bank is the commercial banking subsidiary of Comerica Incorporated (NYSE: CMA), the largest U.S. banking company headquartered in Texas, and is strategically aligned by three business segments: The Business Bank, The Retail Bank, and Wealth Management. Comerica focuses on relationships, and helping people and businesses be successful. In addition to Dallas, Houston and Austin, Texas, Comerica Bank locations can be found in Arizona, California, Florida and Michigan, with select businesses operating in several other states, as well as in Canada and Mexico.

 

Gregory Elliehausen, Federal Reserve Board

Gregory Elliehausen is Senior Economist the Household and Real Estate Finance Section of the Division of Research and Statistics at the Board of Governors of the Federal Reserve System. His current research focuses on consumer financial behavior, regulation of financial markets and services, and high-rate credit products. His research has been published in numerous professional journals. In 2011, Oxford University Press published his book co-authored with Thomas A. Durkin Truth in Lending: Theory, History, and a Way Forward, which is a guide to the purposes, strengths, and weaknesses of disclosures as consumer protections in financial transactions. Previously, Elliehausen held positions at George Washington University (2006–09), Georgetown University (1998–2005), and the Board of Governors of the Federal Reserve System (1981–98). He has a Ph.D. in business administration from the Pennsylvania State University.

Peter Evans, Senior Director - Global Strategy and Planning, GE Energy

Peter C. Evans leads the Global Strategy and Planning team at GE Energy, which is responsible for tracking and analyzing political, economic and regulatory policy trends around the world and the related implications for GE Energy’s long-term strategy. He oversees the Carbon, Fuels, Policy, Economics and Strategic Workforce Planning Centers of Excellence as well as scenario planning projects for the business. Prior to joining GE, he was Director, Global Oil, and Research Director of the Global Energy Forum at Cambridge Energy Research Associates (CERA). He also worked as an independent consultant for a variety of corporate and government clients, including Rio Tinto, American Superconductor Corporation, US Trade Promotion Coordinating Committee, US Department of Energy, the Organization for Economic Cooperation and Development, and the World Bank.   Dr. Evans has extensive international energy experience, including two years as a Visiting Scholar at the Central Research Institute for the Electric Power Industry in Tokyo, Japan. His many articles and policy monographs include Japan: Bracing for an Uncertain Energy Future (Brookings Institution, 2006), Liberalizing Global Trade in Energy Services (AEI Press, 2002), and “International Conflict and Cooperation in Government Export Financing” (Institute for International Economics, 2001). He also co-authored CERA’s global energy scenario study “Dawn of a New Age: The Energy Future to 2030”. Dr. Evans holds a BA in Government and Public Policy from Hampshire College, an M.C.P. in Economic Development and Regional Planning from MIT, and a Ph.D. in Political Science from MIT.



Roger Ferguson, President and Chief Executive Officer of the Teachers Insurance and Annuity Association, former Vice Chairman of the Board of Governors of the Federal Reserve System

Roger W. Ferguson, Jr. is President and Chief Executive Officer of TIAA-CREF, the leading provider of retirement services in the academic, research, medical and cultural fields and a Fortune 100 financial services organization with $402 billion in combined assets under management (as of 9/30/09). Mr. Ferguson served as Vice Chairman of the Board of Governors of the U.S. Federal Reserve System.  He was a voting member of the Federal Open Market Committee, served as Chairman of the Financial Stability Forum, and chaired Federal Reserve Board committees on banking supervision and regulation, payment system policy and reserve bank oversight. Prior to joining TIAA-CREF in April 2008, Mr. Ferguson was head of financial services for Swiss Re, Chairman of Swiss Re America Holding Corporation and a member of the company’s executive committee.  From 1984 to 1997, he was an Associate and Partner at McKinsey & Company.  He began his career as an attorney at the New York City office of Davis Polk & Wardwell. Mr. Ferguson is a member of President Obama’s Economic Recovery Advisory Board and served on the Transition Economic Advisory Board. He is also a member of the Boards of Trustees for the Institute for Advanced Study, Carnegie Endowment for International Peace, the New America Foundation, and Memorial Sloan-Kettering Cancer Center.  He is on the Board of Directors of Brevan Howard Asset Management LLP and the Partnership for New York City, and a member of the Council on Foreign Relations, the Economic Club of New York, the Harvard Law School Visiting Committee, and the Group of Thirty. Mr. Ferguson holds a B.A., J.D. and a Ph.D. in economics, all from Harvard University.

 

Dong Fu, Senior Economist, ExxonMobil

Dong Fu, Ph.D-Economics, Southern Methodist University, is the Senior Economist in ‘Corporate Strategic Planning’ at ExxonMobil. Prior to joining ExxonMobil in 2007, Dong worked as Economic Analyst , Supervisor of Research Assistance & Assistant Economist in ‘Economic Research Department’ at the Federal Reserve Bank of Dallas. He previously worked in both public & private sectors in China from 1991 to 1994. Currently he advises the senior management at ExxonMobil on economic, financial and policy related issues. He is also responsible for developing the corporate World Economic Outlook which is foundation of ExxonMobil’s Energy Outlook.

 

Ed Glaeser, Harvard University

Ed Glaeser is the Fred and Eleanor Glimp Professor of Economics at Harvard, where he also serves as Director of the Taubman Center for State and Local Government and the Rappaport Institute for Greater Boston. He studies the economics of cities, and has written scores of urban issues, including the growth of cities, segregation, crime, and housing markets. He has been particularly interested in the role that geographic proximity can play in creating knowledge and innovation. He received his Ph.D. from the University of Chicago in 1992 and has been at Harvard since then.

 

Laurie Goodman, Senior Managing Director, Amherst Securities 

Laurie is a Senior Managing Director at Amherst Securities Group, L.P., where she is responsible for strategy and business development. Laurie joined the firm in December, 2008, assembled the Strategy Team and began publication of the Amherst Mortgage Insight.  From July 1993-Nov 2008, Laurie was head of Global Fixed Income Research and Manager of U.S. Securitized Products Research at UBS and predecessor firms. The UBS Securitized Products Research group was widely recognized for its insightful analysis and weekly Mortgage Strategist publication.  Prior to that, Laurie spent 10 years in senior fixed income research positions at Citicorp, Goldman Sachs, and Merrill Lynch.  She was also a mortgage portfolio manager on the buy side and a Senior Economist at the Federal Reserve Bank of New York. Laurie holds a B.A. in Mathematics from the University of Pennsylvania, and M.A. and Ph.D. degrees in Economics from Stanford University.  She has published more than 200 articles in professional and academic journals, and co-authored and co-edited five books. Laurie was inducted into the Fixed Income Analysts Hall of Fame in 2009.

 

John Graham, NBER Research Associate and Professor of Finance, Duke University

Dr. Graham is D. Richard Mead professor of finance at the Fuqua School of Business and co-director of the Center for Finance Excellence at Duke University. He is a recipient of the Best Teacher and Outstanding Faculty awards at Duke. His past work experience includes working as a senior economist at Virginia Power, and he is past or current director of the American Finance Association, Western Finance Association, and Financial Management Association. Graham’s research focuses on taxes, cost of capital, capital structure, financial reporting, and payout policy. Graham is co-editor of The Journal of Finance and has been an associate editor of The Review of Financial Studies and Financial Management. Since 1997 he has been the director of the Global Business Outlook (www.cfosurvey.org), a global CFO survey that assesses the business climate and economic issues each quarter. Graham is lead author on the textbook Corporate Finance: Linking Theory to What Firms Do.

 

Joseph Gyourko, Wharton School of Business, University of Pennsylvania

Joseph Gyourko is the Martin Bucksbaum Professor of Real Estate, Finance and Business & Public Policy at The Wharton School of the University of Pennsylvania.  He also serves as Director of the Zell/Lurie Real Estate Center at Wharton and is Chair of the Real Estate Department.  Professor Gyourko received his B.A. from Duke University and a Ph.D. in economics from the University of Chicago.  His research interests include real estate finance and investments, urban economics, and housing markets.  Professor Gyourko is a Research Associate of the National Bureau of Economic Research (NBER) and is Co-Director of the NBER Project on Housing Markets and the Financial Crisis.  A former editor of Real Estate Economics, Professor Gyourko presently serves on various journal editorial boards.  Professor Gyourko is a past Trustee of the Urban Land Institute (ULI) and currently serves on the Board of Directors of the Pension Real Estate Association (PREA).  Finally, he consults and advises real estate various companies and investors.

 

Michael W. Held, Specialist Leader in Supply Chain & Manufacturing Operations, Deloitte   

Mr. Held has over 25 years of experience in industry and management consulting. He currently serves in the US Consulting Practice for Deloitte’s Consumer & Industrial Products sector. Michael was a Director with Grant Thornton in Restructuring & Performance Improvement and has served manufacturing clients globally.

 

Thomas Holzheu, Chief Economist, North America and Head of Economic Research & Consulting, North America, Swiss Re

As head of Swiss Re’s Economic Research and Consulting unit for North America, Thomas Holzheu is responsible for Swiss Re’s North American economic and insurance market research. This includes the sigma papers — Swiss Re’s award-winning research series on the insurance industry. Thomas researches and supports Swiss Re’s strategic planning on market developments, the economic environment, the competitive landscape, and regulatory factors affecting insurance and reinsurance markets. He is an expert on North American property & casualty markets and has extensive knowledge of capital market solutions and foreign markets. He frequently speaks at industry conferences and publishes insurance and risk-related articles in addition to sigma studies. Thomas joined the Swiss Re Group in 1990 and has worked in Germany, Switzerland, and the US. Thomas graduated from the University of Munich with a MS and a Ph.D. in economics.

 

Michael Horrigan, Associate Commissioner, U.S. Bureau of Labor Statistics

Since March of 2007, Mike Horrigan has served as Associate Commissioner in the Office of Prices and Living Conditions (OPLC) at the Bureau of Labor Statistics (BLS). This office produces a family of price index measures, including three Principal Federal Economic Indicators of inflation, from the Consumer Price Index (CPI) program, the Producer Price Index (PPI) program, and the International Price Program (IPP). This office also includes the Consumer Expenditure (CE) Survey Program and a research division that conducts frontier research on price index and consumer expenditure issues.   From 2004 to 2007, Dr. Horrigan served as Assistant Commissioner for the Producer Price Index Program. Between 2001 and 2004, he served as Assistant Commissioner in the Office of Employment and Unemployment Statistics, heading the office that publishes Occupational Employment Survey data and the biennial BLS long-term projections of industry and occupational employment. Dr. Horrigan also served as Director of the BLS National Longitudinal Surveys Program (1996-2001) and directed the BLS Establishment Surveys of Employer-Provided Training (1991-1996). Other significant work experience includes serving as a Senior Labor Economist at the President’s Council of Economic Advisers from 1990-1991. Dr. Horrigan began his career at BLS in 1986 as an economist in the Division of Labor Force Statistics in OEUS.   He holds a doctorate in Economics from Purdue University and is the author of numerous publications, including articles on unemployment duration, earnings inequality, and measuring the demand for skills in the labor force.

 

Tim Howe, Partner, CHL Medical, Adjunct Professor, Columbia Business School

Tim has been an active venture investor since 1984 and board member responsible for numerous investments in the biotechnology, medical device and healthcare services areas, including Innotech, Inc. (acquired by Johnson & Johnson), Camitro Corporation (acquired by ArQule, Inc. (Nasdaq: ARQL)) and Alexion Pharmaceuticals, Inc. (Nasdaq: ALXN). Tim has been a director of over twenty companies. Prior to the founding of CHL, Tim was a partner at Schroder Ventures managing multiple venture capital funds in the United States. Tim is a graduate of Columbia College and the Columbia Graduate School of Business where he is an Adjunct Associate Professor teaching venture capital management.

 

Gene Huang, NABE President, Vice President and Chief Economist, FedEx Corporation

Chief Economist Gene Huang is Chief Economist and a Vice President at FedEx. He and his team focus on corporate economics, enterprise risks, strategic affairs, and the tracking and monitoring of all industries and countries FedEx serves. His team acts as an advisor to both FedEx and its external stakeholders in analyzing economic, social and political trends to assess the direction of markets and thus help guide business decisions. Dr. Huang is recognized as one of the leading business economists in the world. He is president of the National Association for Business Economics (NABE), chairman of the Economic Advisory Committee of the Council on Competitiveness. He is also an elected member of the prestigious Bretton Woods Committee, the Conference of Business Economists (serving as chairman 2009-10), National Business Economic Issues Council, the European Council of Economists, and the Harvard Industrial Economists Group. Additionally, he is an honored professor at the School of Management, Fudan University in Shanghai, and a member of the Federal Reserve Bank St. Louis Transportation Council. He has been a long time member of the Blue Chip Consensus Panel, the Wall Street Journal Economists Panel, BusinessWeek Magazine’s Business Outlook Panel, and ABC News Economists Panel. Viewed as one of the foremost economic forecasters, he was profiled in BusinessWeek as its “Most Accurate Forecaster” in 2002. In 2006, The Wall Street Journal ranked him as second among the nation’s top forecasters. Starting his corporate career in 1987 with a Wall Street money management firm, Dr. Huang has worked for some of the world’s largest industrial corporations and reputable research institutions. He received his M.A. from Yale University and his Ph.D. from the University of Pennsylvania. He also holds a LL.B. from Fudan University. Dr. Huang is the author of two books on business economics and many articles published in U.S., Japanese, and European economic and policy journals. He is frequently requested by news outlets worldwide for his economic commentary.



Glenn Hubbard, Dean, Columbia Business School

Glenn Hubbard was named dean of Columbia Business School on July 1, 2004. A Columbia faculty member since 1988, he is also the Russell L. Carson Professor of Finance and Economics. As a faculty member at Columbia University’s Graduate School of Arts and Sciences, he is professor of economics.   Professor Hubbard received his BA and BS degrees summa cum laude from the University of Central Florida, where he received the National Society of Professional Engineers Award. He holds AM and PhD degrees in economics from Harvard University, where he received fellowships from the National Science Foundation and the Alfred P. Sloan Foundation. He has been a visiting professor at Harvard’s Kennedy School of Government and Harvard Business School, as well as the University of Chicago. Professor Hubbard also held the John M. Olin Fellowship at the National Bureau of Economic Research, at which he remains affiliated with research programs in monetary economics, public economics, corporate finance, and industrial organization. Additionally, he is a visiting scholar at the American Enterprise Institute in Washington and a member of the International Advisory Board of the MBA Program of Ben-Gurion University.   After graduating from Harvard, Professor Hubbard began his teaching career at Northwestern University. He moved to Columbia in 1988 and served as senior vice dean of the Business School from 1994 to 1997 and co-director of the Entrepreneurship Program from 1998 to 2004. His research spans tax policy, monetary economics, corporate finance, and international finance.    In addition to writing more than 100 scholarly articles in economics and finance, Professor Hubbard is the author of two leading textbooks on money and financial markets and principles of economics, as well as co-author of The Aid Trap: Hard Truths About Ending Poverty and Healthy, Wealthy, and Wise: Five Steps to a Better Health Care System. His commentaries appear frequently in Business Week, the Wall Street Journal, the New York Times, the Financial Times, the Washington Post, Nikkei, and the Daily Yomiuri, as well as on television (on PBS’s Nightly Business Report) and radio (on NPR’s Marketplace).   In government, Professor Hubbard served as deputy assistant secretary of the U.S. Treasury Department for Tax Policy from 1991 to 1993. He supervised administration efforts on revenue estimates, tax reform, and health policy. From February 2001 until March 2003, he was chairman of the U.S. Council of Economic Advisers under President George W. Bush. His responsibilities included advising the president on economic policy, tax and budget policy, emerging market financial issues, international finance, health care, and environmental policy. While serving as CEA chairman, he also chaired the Economic Policy Committee of the OECD. He currently serves as economic adviser to Governor Mitt Romney.   In the corporate sector, he is currently a director of ADP, BlackRock Closed-End Funds, KKR Financial Corporation, and Met Life. Professor Hubbard has also served on the advisory boards of several organizations, including the Council on Competitiveness, the American Council on Capital Formation, the Tax Foundation, and the Center for Addiction and Substance Abuse. He is a life member of the Council on Foreign Relations, a Co-Chairman of the Committee on Capital Markets Regulation and the Study Group on Corporate Boards, and a past Chairman of the Economic Club of New York.

 

Ellen Hughes-Cromwick, Chief Economist, Ford Motor Company

Ellen Hughes-Cromwick is the Chief Economist for Ford Motor Company. Her role is to oversee the corporate economics and strategic issues group at Ford Motor Company with responsibility for the company’s global automotive industry analysis and forecasts used to support planning. The group’s responsibilities also include economic policy analysis, exchange rate forecasts, and other factors important to the automotive and financial sectors.   Prior to joining Ford, Ellen's career included positions in banking and academia. She also served for two years as a staff economist on the President's Council of Economic Advisers. Ellen received a Masters degree in international development and Ph.D. in economics at Clark University in Worcester, Massachusetts.   Ellen is a member of the board of directors for the National Association for Business Economics. She served a term as NABE president in 2007-08



Paul Hughes-Cromwick, Senior Health Economist, Altarum Institute

Paul Hughes-Cromwick is a health economist and Senior Analyst at Altarum Institute where he has worked since 2002. He has been involved in health care economic and policy analyses since receiving his master’s degree in 1981. Prior to working at Altarum, Mr. Hughes-Cromwick has worked for the University of Michigan School of Nursing; the Henry Ford Health System; the University of Pittsburgh Graduate School of Public Health; the State of Connecticut, where he was research director for the Connecticut Partnership for Long Term Care Insurance; and the U.S. Department of Health and Human Services in the Office of the Assistant Secretary for Planning and Evaluation. He was Chairman of the Board, Care Choices HMO, Farmington Hills, Michigan (until its sale), and is currently on the Board of Trustees of St. Joseph Mercy Oakland Hospital in Pontiac, Michigan. Hughes-Cromwick is a member of the American Economic Association, AcademyHealth, Consumers for HealthCare Choices, and the National Association for Business Economics where he serves as Chairman of the Health Economics Roundtable. Mr. Hughes-Cromwick has a B.S. in mathematics and philosophy from the University of Notre Dame and an M.A. in applied economics from Clark University in Worcester, Massachusetts where he completed all non-dissertation requirements toward a Ph.D.

 

Azhar Iqbal, Vice President and Econometrician, Wells Fargo

Azhar Iqbal is a vice president and econometrician at Wells Fargo, responsible for providing quantitative analysis to the Economics group and modeling and forecasting of macro and financial variables. He is based in Charlotte, N.C. Before joining Wells Fargo in 2007, he was an economist and course instructor at the Applied Economics Research Center at the University of Karachi in Pakistan, teaching econometrics, microeconomics, and urban economics. He has also worked as an economist at the United Nations, Arif-Habib Investment Bank, and for Government of Pakistan-funded projects. Azhar received his bachelor’s degree in economics from the University of Punjab and has three master’s degrees. He earned his master’s degree in economic forecasting from the University at Albany, State University of New York where he also earned a Certificate of Graduate Study in economic forecasting. He also has master’s degrees in applied science and applied economics from University of Karachi, and in econometrics and mathematics from the University of the Punjab in Lahore, Pakistan. His interests focus on forecasting, time series, panel data, and macroeconomics. Azharhas presented research papers at the American Economic Association, Econometric Society Meetings, the Panel Data Conference, and other international conferences. He has published several papers in the Canadian Journal of Economics, Global Economy Journal, Business Economics, and others listed in the Journal of Economic Literature.



Sara Johnson, Senior Research Director, IHS Global Insight

Johnson is senior research director of global economics, helping IHS clients assess worldwide business and financial opportunities and risks. Johnson co-authors the Global Executive Summary, manages the Executive Strategy Council, presents the macroeconomic outlook to international conferences, and has led the North American team of IHS Global Scenarios. She was previously North American Research Director and Chief Regional Economist with Standard & Poor’s DRI, a predecessor of IHS Global Insight.  Johnson holds a B.A. degree in economics and mathematics from Wellesley College and an M.A. in economics from Harvard University. She is a director of the NABE Foundation, a former director of the National Association for Business Economics, and a member of The Boston Economic Club and American Economic Association. 

 

Li Kai, Vice Chairman, China's State Information Center (SIC)

Deputy Chairman of State Information Center, General Manager of China Economic Information Network. As an expert with special subsidy granted by State Council and a part-time professor of Tongji University, he graduated from Renmin University of China with a bachelor’s and master’s degree in Economics, and from Wittenberg University with a doctor’s degree in Economics. He serves as Cooperative Researcher of London School of Economics and Political Science, Senior Researcher of International Center for Study of East-Asia Development in Japan, and Consultant of Frankfurt School of Finance and Management. His work experience includes years of employment in Forecast Department of State Information Center, five years of experience in APEC Economic Committee, and implementation of several major economic research projects. He was chief editor for a number of books including “China Industry Development Report”, “Outlook of China’s Economy”, “Influence of Trade Liberalization in Asian and Pacific Regions”, and “Corporate Governance Structure in EU”, and has published dozens of economic articles both domestically and internationally.

 

Anatole Kaletsky, Chairman of the Governing Board, Institute for New Economic Thinking

Anatole Kaletsky is a columnist for Reuters and chairman of the Governing Board of the Institute for New Economic Thinking. He is an award-winning journalist and financial economist who has written for The Economist, the Financial Times and The Times of London. His recent book, "Capitalism 4.0," about the reinvention of global capitalism after the 2008 crisis, was nominated for the BBC’s Samuel Johnson Prize, and has been translated into Chinese, Korean, German and Portuguese.

 

John Larson, Vice President, IHS Global Insight

John Larson heads up the IHS Consulting practice serving public sector organizations. As managing director of IHS Global Insight's Decision Analytics and Economic Impact Analysis practice, he has over ten years of experience in integrating analytical tools s to inform clients, leading to more efficient and effective business and policy decisions. Prior to joining IHS, Mr. Larson spent eight years working for management consulting and accounting companies, bringing data-driven solutions to both public- and private-sector clients. Mr. Larson holds bachelor's degrees in economics and history as well as a master's degree in public policy from the Thomas Jefferson Program in Public Policy at the College of William and Mary.

 

Andy Laperriere, ISI Group

Andy Laperriere is a Senior Managing Director and heads the ISI’s Policy Research Team in Washington DC. He has been an Institutional Investor ranked Washington team analyst for the past 13 years, and the team has been ranked #1 for the past 9 years. Prior to joining ISI in 1999, Andy spent 8 years on Capitol Hill working for Representative Dick Armey. Andy graduated from Villanova University in 1990, received a Masters in Economics from George Mason University in 1997, and is a CFA charterholder.



Pamela Lawrence, Co-Founder and Managing Principal, Restoration Capital Management LLC

Pamela M. Lawrence has over 30 years investment experience, including a concentration on investing in financially troubled companies for the past 26 years.  Ms. Lawrence is a co-founder and Manager of Gibbes Bay Advisors LLC, an investment advisor focused on value credit investing.    From 2001 to 2012, Ms. Lawrence was the co-founder and managing principal of Restoration Capital Management LLC, a firm dedicated to investing in financially troubled companies. In 1999 Ms. Lawrence joined Tribeca Investments LLC, a division of Citigroup Investments, and managed a portfolio of distressed securities.  Prior to Tribeca Investments, Ms. Lawrence spent six years as a Partner at Whippoorwill Associates, Inc. where she co-managed a $600 million distressed and bankrupt securities portfolio.  While at Whippoorwill, she represented the firm’s interests in a variety of active workouts and restructurings including the Barney’s New York, Leslie Fay, Gardenway, and Woodward & Lothrop. Before joining Whippoorwill, Ms. Lawrence worked at Magten Asset Management Corporation as a managing director and portfolio manager of distressed and high yield securities. Ms. Lawrence was an analyst at David J. Greene and Company in the special situations group which included restructurings, spin-offs, and bankruptcies. Ms. Lawrence started her career at the William Rosenwald Family office as a trader and analyst.  Ms. Lawrence received an MBA in Finance from Pace University in 1980 and a Bachelor of Arts from Marymount College (recently acquired by Fordham University) in 1974.



Traci Mach, Federal Reserve Board

Traci Mach is a senior economist in the Financial Structure Section of the Division of Research and Statistics at the Board of Governors of the Federal Reserve System.  She joined the Board staff in.  While at the Board, Ms. Mach has been involved in conducting economic analysis of issues relating to the household and small business finance, working extensively with the Surveys of Small Business Finances and the Survey of Consumer Finances. Ms. Mach received a bachelor=s degree from Cornell College and a PhD in economics from the Ohio State University.  Prior to joining the staff of the Federal Reserve Board, Ms. Mach served on the faculty of the economics department at SUNY Albany.  

 

Andrew Massad, Marketing Manager of Competitive Programs, IBM

Andrew Massad is Marketing Manager of Competitive Programs at IBM where his primary focus is on implementing and leading business development initiatives in key emerging markets; he has held this position since 2011.  Prior to this role, Andrew worked as a competitive strategist, helping to develop and integrate the core marketing team at the IBM Global Marketing Center in Bangalore, India.  He also has previous experience in financial asset management. Andrew earned his Master of Arts in International Economics and Finance from the International Business School at Brandeis University and a graduate certificate in International Business Management from Fundação Getúlio Vargas – EAESP in São Paulo, Brazil.  He also holds a Bachelor of Science in Finance and Accounting from The University of Tampa.



Dennis McGill, Director of Research, Zelman & Associates

Mr. Dennis McGill serves as Director of Research at Zelman & Associates, Research Division. Mr. McGill has specialized in homebuilding and building products research and analysis since 2001, primarily at Credit Suisse Group in New York. He served as a Senior Associate Analyst at Zelman & Associates from 2001 to 2007. Before joining Zelman & Associates, Mr. McGill served as a Vice President at Silverman Development assigned to land transaction research and acquisition. He served as Research Analyst at Crédit Suisse AG, Research Division. He holds the Chartered Financial Analyst designation, is a member of the New York Society of Security Analysts, and is certified with the Series 7, 24, 63, 86 and 87 licenses. Mr. McGill earned a Bachelor of Arts with a concentration in Economics and a Master of Accounting from the University of Michigan.

Paul Merski, Executive VP and Chief Economist, Independent Community Bankers of America

Paul Merski is executive vice president for congressional relations and chief economist for ICBA.  Before joining ICBA, Merski served as the chief economist of the Joint Economic Committee of the U.S. Congress and tax and banking policy advisor to Sen. Connie Mack (R-Fla.).  He also served as director of fiscal policy for Citizens for a Sound Economy, as director of fiscal affairs for the Tax Foundation and as an economist with the Commerce Department Bureau of Economic Analysis during the Reagan administration.

 

Kim Monk, Managing Director, Capital Alpha Partners, LLC

Kim brings over seventeen years of Washington-based experience working in the healthcare policy arena to her coverage of political developments impacting the healthcare industry. Prior to forming Capital Alpha Partners, Kim was the Senior Healthcare Analyst with Prudential Equity Group’s Washington Research Group. At Prudential, Kim focused on the regulatory and legislative issues related to managed care, healthcare services, pharmaceuticals, medical devices, and biotechnology.   Kim joined Prudential in July 2005 from Capitol Hill, where she spent seven years as a senior advisor, most recently with the Senate Budget Committee. Most of her years on the Hill were with the Senate Committee on Health, Education, Labor, and Pensions (“HELP”), which oversees the FDA, health insurance, the NIH, and public health. While on the Hill, Kim worked on major healthcare legislation and advised members on issues ranging from coverage for the uninsured, patient rights, Medicare reform and prescription drugs, patient safety, medical malpractice reform, and medical records privacy.   Prior to that, Kim was a health policy analyst for the Washington Business Group on Health, where she was responsible for providing in-depth analysis for large employer purchasers on issues such as Medicare and HIPAA. Kim started her career with Mercer Human Resource Consulting, where she spent six years advising large employers on issues such as quality and cost management, benefit plan design, disease management, and retiree health issues. Kim has a Master’s Degree in Health Services Management and Policy from George Washington University. 

 

David K.A. Mordecai, President and co-founder, Risk Economics

David K.A. Mordecai is President and co-founder of Risk Economics, Inc., a New York City based advisory firm. RiskEcon™ specializes in the application of computational economics to the proprietary development and scalable implementation of robust modeling and data analytic frameworks for valuation, strategic and systemic risk analysis, and dynamic asset-liability management. Dr. Mordecai is a Visiting Scholar at the recently established RiskEcon™ Lab for Decision Metrics at the Courant Institute for Mathematical Sciences at New York University.  He is also a Fellow at, and a member of the Advisory Board of, the Mathematical Finance Program at Courant and has served as a guest lecturer for the program since 2006. David is also a Senior Advisor to, and member of the Advisory Committee of, Compass Lexecon, an economic consulting firm, specializing in forensic valuation, litigation and regulatory analysis. Compass Lexecon is a unit of FTI Consulting, a NYSE traded corporation. His expertise includes: economic damages related to market structure; financial institutions governance; and complex issues related to finance, economics and market standards and practices within securities, derivatives and commodities markets, the financial sector and a broad range of non-financial industry sectors. During his thirty year tenure in the financial services industry, David has served as a Managing Director at Swiss Re, where he led Relative-Value Market Strategies, a quantitative economics and financial engineering function with the global mandate to develop firm-wide and industry standards, benchmarks and frameworks for the valuation and trading of exposures underlying long-dated life, health, medical and pension liabilities as well as geopolitical risk. Prior to this, he served as Senior Advisor to the Head of Swiss Re Financial Services. Previously, at a multi-strategy hedge fund with $10 Billion of assets under management, he was Managing Director of Structured Products, responsible for $5 billion CDO assets. Prior to his role as a hedge fund manager, he was Vice President of Financial Engineering/Principal Finance at AIG, and a Director at the rating agency Fitch. During the first decade of his career, he specialized in credit analysis and the origination, structuring, and trading of leveraged loans for non-recourse project finance and highly leveraged transactions involving corporations and financial institutions. David has served as an advisor on systemic risk issues to the Federal Reserve, the International Monetary Fund (IMF), and the Commodities and Futures Trading Commission (CFTC), and as an advisor on hedge fund valuation issues to the International Organization of Securities Commissions (IOSCO). He has also been a member of the Investment Advisory Committee of the New York Mercantile Exchange (NYMEX). He is the founding Co-Chair of the International Association of Financial Engineers’ (IAFE) Liquidity Risk Committee, and has actively served on the Steering Committee of the IAFE’s Investor Risk Working Group on hedge fund and CTA disclosure issues, as well as the Advisory Board. David was the founding Editor-in-Chief of the Journal of Risk Finance (JRF), a quarterly peer-reviewed research periodical, which addresses topics in financial risk intermediation. He remains a senior member of JRF’s Advisory Board subsequent to its sale by the original publishers Institutional Investor/Euromoney to Emerald Publications. He has published numerous articles on topics including hedge fund strategies, structured credit, and weather and insurance derivatives.  He has also been a guest lecturer at Columbia University, at the Graduate Business School, the Engineering/Operations Research Division, as well as the School for Public Policy. He holds a Ph.D. with concentrations in Econometrics/Statistics and Economics/Industrial Organization from the University of Chicago and an M.B.A. in Finance from the NYU Stern School of Business. His doctoral research focused on the limits of arbitrage, and how market shocks trigger contagion via the financing of highly leveraged financial institutions during periods of extreme market volatility. His biography has been published in the Marquis publications Who’s Who in the World, Who’s Who in America, and Who’s Who in Finance and Business.



 

Ed Morse, Managing Director and Global Head of Commodities Research, Citigroup

Ed Morse is a managing director and the head of global commodities research at CitiGroup Global Markets, Inc. in New York. He previously held similar positions at Lehman Brothers, Louis Capital Markets and Credit Suisse. Widely cited in the media, he is a contributor to journals such as Foreign Affairs, the Financial Times, the New York Times, and the Washington Post. He worked in the US government at the State Department, and later was an advisor to the United Nations Compensation Commission on Iraq, as well as to the US Departments of State, Energy and Defense and to the International Energy Agency on issues related to oil, natural gas and the impact of financial flows on energy prices. A former Princeton professor and author of numerous books and articles on energy, economics and international affairs, Mr. Morse was the publisher of Petroleum Intelligence Weekly and other trade periodicals and also worked at Hess Energy Trading Co. (HETCO).



 

Ewa Nucinska, Senior Investment Risk Analyst, State Street Bank (Poland)

Ewa Nucinska is a Senior Investment Risk Analyst at State Street Bank (Poland). In this role she is primarily responsible for providing risk analysis and advisory for all asset classes and investment strategies, with particular attention to the needs of hedge funds. Ewa began her career in the Summer of 2010, as an intern with State Street Global Advisors (Boston). Her next move was into Currency Management, developing and managing currency strategies for institutional clients as a Junior Currency Portfolio Manager in the London office of SSgA, where she oversaw $100 billion in currency assets globally.  Ewa is a Fulbright Scholar and holds MA in Finance and Economics from Brandeis University Business School and BA in International Economic Relations from Krakow University of Economics. She is also an Alumni of European Academy of Diplomacy and a scholar at Chung-Ang University in Seoul, South Korea. Her previous experience includes work as a Trade Analyst under the direction of WTO Deputy Director General for the Institute of International Trade, and interning at the Trade and Investment Section of Polish Embassy in Washington, DC.



L. Christopher Plantier, Senior Economist, Investment Company Institute

L. Christopher Plantier is a senior economist in the industry and financial analysis section at the Investment Company Institute (ICI). He focuses on the structure of the mutual fund industry, industry trends, and the broader financial markets, including issues related to money market funds and commodity mutual funds. Before joining ICI in April 2011, he was an international economist in the global economics group at the U.S. Department of Treasury, where he focused on the global macroeconomic outlook and global balance of payment developments, including Treasury International Capital (TIC) data. Prior to joining U.S. Treasury in 2004, he served as an advisor in the economics department of the Reserve Bank of New Zealand. He holds a PhD in economics from the University of California, Santa Barbara.

 

Blu Putnam, Chief Economist, CME Group

Bluford (Blu) Putnam has served as Managing Director and Chief Economist of CME Group since May 2011. He is responsible for leading economic analysis on global financial markets by identifying emerging trends, evaluating economic factors and forecasting their impact on CME Group and the company's business strategy. He also serves as CME Group's spokesperson on global economic conditions and manages external research initiatives.   Prior to joining CME Group, Putnam gained more than 35 years of experience in the financial services industry with concentrations in central banking, investment research and portfolio management. He most recently served as Managing Partner for Bayesian Edge Technology & Solutions, Ltd., a financial risk management and portfolio advisory service he founded in 2000. He also has served as President of CDC Investment Management Corporation and Managing Director and Chief Investment Officer for Equities and Asset Allocation at the Bankers Trust Company in New York. His background also includes economist positions with Kleinwort Benson, Ltd., Morgan Stanley & Company, Chase Manhattan Bank and the Federal Reserve Bank of New York.   Putnam holds a bachelor's degree in liberal arts from Florida Presbyterian College (later renamed Eckerd College) and a Ph.D.in economics from Tulane University. He has authored five books on international finance, as well as many articles that have been published in academic journals and business publications.

 

Daniel Rosen, Partner, Rhodium Group

Daniel Rosen is a partner at RHG and leads the firm’s work on China. Since 1993 he has been a staff member of the Peterson Institute for International Economics in Washington, DC, focusing on China and authoring 7 major studies. Since 2001 he has served as Adjunct Associate Professor at Columbia University, teaching graduate seminars on the Chinese economy at the School of International and Public Affairs. Dan writes and speaks extensively on China and other emerging economy topics.  His sixth book, on China-Taiwan economic relations, and his seventh, on Chinese foreign direct investment in the United States, were published in 2011. He is a frequent contributor to the Wall Street Journal, television business media, and high-level speaking events (including Aspen Institute, Caixin Magazine, Bloomberg and private client functions).   From 2000-2001 Dan was Senior Advisor for International Economic Policy at the White House National Economic Council and National Security Council, where he played a key role in completing China’s accession to the World Trade Organization and accompanied the President to Asia for summits and state visits.  Dan is a Member of the Council on Foreign Relations, and serves on the Board of the National Committee for US-China Relations.

 

Josh Rosner, author of Reckless Endangerment

Josh Rosner is co-author of the New York Times Bestseller "Reckless Endangerment "How Outsized Ambition, Greed, and Corruption Led to Economic Armageddon", and Managing Director at independent research consultancy Graham Fisher & Co. He advises regulators, policy-makers and institutional investors on banking with a focus on housing and mortgage finance. Previously he was the Managing Director of financial services research for Medley Global Advisors, Executive Vice President at CIBC World Markets and a Managing Director at Oppenheimer & Co.   In 2001 Mr. Rosner authored "Housing in the New Millennium: a Home without Equity is Just a Rental with Debt" warning of the risks resulting from structural changes in the mortgage finance system. In 2003 Mr. Rosner was among the first analysts to identify operational and accounting problems at the Government Sponsored Enterprises. In 2005 he was among the first analysts to identify the peak in the housing market. In February 2007, warning of the likelihood of contagion in credit markets Rosner co-authored the Hudson Institute paper "How Resilient Are Mortgage Backed Securities to Collateralized Debt Obligation Market Disruptions?". In the co-authored May 2007 paper "Where Did the Risk Go? How Misapplied Bond Ratings Cause MBS and CDO Market Disruptions" Rosner identified the problems in structured finance. His "Toward an Understanding: NRSRO Failings in Structured Ratings and Discreet Recommendations to Address Agency Conflicts" was presented in the Winter 2009 Journal of Structured Finance.



John Ryding, Chief Economist and founding partner, RDQ Economic

John Ryding is the Chief Economist and a founding partner of RDQ Economics. John was at Bear Stearns from 1991 to 2008 (most recently as the Chief U.S. Economist) where he was responsible for analyzing and forecasting U.S. economic trends and monetary policy. Prior to joining Bear Stearns, he was a Senior Economist at the New York Fed from 1989 to 1991 and an Economic Advisor to the Bank of England, where he worked from 1980 to 1989. John graduated Sidney Sussex College, Cambridge, England in 1980. John is a frequent commentator on Bloomberg, CNBC, CNN, Fox Business News and the BBC.

 

Ken Simonson, NABE Vice President, Chief Economist, Associated General Contractors of America

Kenneth D. Simonson is the Vice President of NABE and the incoming President of NABE.  Simonson has been Chief Economist for the Associated General Contractors of America, the leading national construction trade association, since 2001. He provides insight into the economy and what it implies for construction and related industries through frequent media interviews, presentations and The Data DIGest, his weekly one-page e-newsletter. Ken has 35 years of experience analyzing, advocating and communicating about economic and tax issues. Before joining AGC, he was senior economic advisor in the U.S. Small Business Administration’s Office of Advocacy. Earlier, he was vice president and chief economist for the American Trucking Associations. He also worked with the President’s Commission on Industrial Competitiveness, the U.S. Chamber of Commerce, the Federal Home Loan Bank Board and an economic consulting firm. Ken is the 2011-12 vice president of the National Association for Business Economics. He was president of the National Economists Club in 2000. He is co-director of the Tax Economists Forum, a professional meeting group he co-founded in 1982; a former board member of the National Tax Association and Community Tax Aid; and a current board member of the Jewish Council for the Aging of Greater Washington. Ken has a BA in economics from the University of Chicago, an MA from Northwestern University, and he has taken advanced graduate courses at the Université de Paris, Johns Hopkins and Georgetown Universities.



Robert Shiller, Arthur M. Okun Professor of Economics, Yale University

Robert J. Shiller is the Arthur M. Okun Professor of Economics, Department of Economics and Cowles Foundation for Research in Economics, Yale University, and Professor of Finance and Fellow at the International Center for Finance, Yale School of Management. He received his B.A. from the University of Michigan in 1967 and his Ph.D. in economics from the Massachusetts Institute of Technology in 1972. He has written on financial markets, financial innovation, behavioral economics, macroeconomics, real estate, statistical methods, and on public attitudes, opinions, and moral judgments regarding markets. His 1989 book Market Volatility (MIT Press) is a mathematical and behavioral analysis of price fluctuations in speculative markets. His 1993 book Macro Markets: Creating Institutions for Managing Society's Largest Economic Risks (Oxford University Press) (available via subscribing libraries on Oxford Online) proposes a variety of new risk-management contracts, such as futures contracts in national incomes or securities based on real estate that would permit the management of risks to standards of living. His book Irrational Exuberance (Princeton 2000, Broadway Books 2001, 2nd edition Princeton 2005) is an analysis and explication of speculative bubbles, with special reference to the stock market and real estate. His book The New Financial Order: Risk in the 21st Century (Princeton University Press, 2003) is an analysis of an expanding role of finance, insurance, and public finance in our future. His book Subprime Solution: How the Global Financial Crisis Happened and What to Do about It, published in September 2008 by Princeton University Press, offers an analysis of the housing and economic crisis and a plan of action against it. He co-authored, with George A. Akerlof, Animal Spirits: How Human Psychology Drives the Economy and Why It Matters for Global Capitalism published in March 2009 by Princeton University Press. His latest book, Finance and the Good Society, was published in April 2012 by Princeton University Press. His repeat-sales home price indices, developed originally with Karl E. Case, are now published as the Standard & Poor’s/Case Shiller Home Price Indices. The Chicago Mercantile Exchange now maintains futures markets based on these indices. He has been research associate, National Bureau of Economic Research since 1980, and has been co-organizer of NBER workshops: on behavioral finance with Richard Thaler since 1991, and on macroeconomics and individual decision making (behavioral macroeconomics) with George Akerlof since 1994. He served as Vice President of the American Economic Association, 2005 and President of the Eastern Economic Association, 2006-07. He writes a regular column "Finance in the 21st Century" for Project Syndicate, which publishes around the world, and "Economic View" for The New York Times.

 

Hyun Song Shin, Hughes-Rogers Professor of Economics, Princeton University

Hyun Song Shin is the Hughes-Rogers Professor of Economics at Princeton University.  His research interests cover financial institutions, risk and financial stability issues, topics on which he has published widely both in academic and policy outlets.  He is the author of Risk and Liquidity the 2008 Clarendon Lectures in Finance, and co-authored the 2009 Geneva Report on the Fundamental Principles of Financial Regulation.  Before moving to Princeton in 2006, he was based in the United Kingdom, holding academic positions in Oxford and the London School of Economics.  Professor Shin is a Korean national.  In 2010, he was on leave from Princeton, serving in a policy role in Korea as the Senior Adviser to President Lee Myung-bak on the International Economy.  He is a fellow of the Econometric Society and of the British Academy.

 

Sheryl Skolnick, PhD, Managing Director and Co-Head of Research, CRT Capital Group LLC

Sheryl Skolnick first joined CRT in 2006 to provide equity and credit coverage of health care services companies and re-joined in 2010 after a short tenure at Pali Capital. She became CRT’s Co-Head of Research in September 2011. With more than 24 years on Wall Street, Dr. Skolnick has been named WSJ Best on the Street in 2009 in Healthcare Providers, her fifth appearance on the roster. Sheryl is known for her differentiated research, unique perspectives, finding what others miss and client service. She has provided differentiated health care services investment research at Robertson Stephens and Fulcrum Global Partners, a top independent research boutique, among other sell- and buy-side firms. In her early career, Dr. Skolnick was an Economist for both the US Department of Labor and the Antitrust Division of the US Department of Justice. In addition to her roles at CRT, Dr. Skolnick is an Adjunct Professor at Columbia University’s Mailman School of Public Health, teaches classes in the Executive Masters of Public Health program, and is a featured speaker at several annual health care conferences including UC-Irvine’s Paul Merage School of Business’ Health Care Forecast Conference. She is a frequent guest on CNBC, Bloomberg TV and is a widely quoted expert on health care issues. Sheryl earned her Ph.D. in Economics from Washington University in St. Louis where she was an Olin Fellow.

 

Jonathan Sokobin, Chief of Analytical Strategy, Office of Financial Research, U.S. Department of the Treasury

 

George Soros, Founding Sponsor, Institute for New Economic Thinking; Chairman, Soros Fund Management  

George Soros came of age in Hungary at a time when it was a battleground in the decades-long conflict between fascism and communism, the two great totalitarian ideologies of the 20th century. A personal experience of this conflict—including the violence, foreign occupation, anti-Semitism, and other forms of intolerance that went with it—as well as a personal fascination with philosophy shaped Soros’s thinking in later years and influenced his successful strategies in both finance and philanthropy.   Born in Budapest in 1930, Soros survived the Nazi occupation of Hungary during World War II as well as the postwar imposition of Stalinism in his homeland. Soros fled Communist-dominated Hungary in 1947 and made his way to England. Before graduating from the London School of Economics in 1952, Soros studied Karl Popper’s work in the philosophy of science as well as his critique of totalitarianism, The Open Society and Its Enemies, which maintains that no philosophy or ideology has the final word on the truth and that societies can only flourish when they allow for democratic governance, freedom of expression, a diverse range of opinion, and respect for individual rights.   Later, while working as a financial analyst and trader in New York, Soros adapted Popper’s thinking in developing his own application of the social theory of “reflexivity,” a set of ideas that seeks to explain how a feedback mechanism can skew how participants in a market value assets on that market. After concluding that he had more talent for trading than for philosophy, Soros began to apply his ideas on reflexivity to investing, using it to predict, among other things, the emergence of financial bubbles. In 1967, he helped establish an offshore investment fund. In 1973, he set up a private investment firm that eventually evolved into the Quantum Fund, one of the first hedge funds.   Soros’s memories of anti-Semitism in wartime Hungary prompted him, in 1979, to begin providing financial support for black students at the University of Cape Town in apartheid South Africa. In 1984, Soros created an education and culture foundation in Hungary. He later supported dissident movements in Eastern Europe’s other Communist countries, helping people to organize themselves at a time when popular organizations were banned, to voice their opinions when dissonant opinions were considered anti-state propaganda, and to promote tolerance, democratic governance, human rights, and the rule of law when a one-party dictatorship exercised a monopoly on power.   As the East bloc crumbled during the late 1980s and the Soviet empire collapsed in the early 1990s, Soros expanded his funding in an effort to help create open societies in all of the region’s countries. He demonstrated his commitment to critical thinking and democratic political development by establishing Central European University in 1991. In 1993, he founded the Open Society Institute. Over the past three decades, Soros’s philanthropy has spawned a network of foundations dedicated to promoting development of open societies in Africa, Asia, Europe, Latin America, and the United States. To date, Soros has given over $8 billion to support human rights, freedom of expression, and access to public health and education in 70 countries.

 

Torsten Slok, Deutsche Bank

Torsten Slok joined Deutsche Bank Securities in the fall of 2005 and is a senior member of the Global Economics Team. Prior to joining the firm, Dr. Slok worked at the OECD in Paris in the Money and Finance Division and the Structural Policy Analysis Division. Before joining the OECD he worked for four years at the IMF in the Division responsible for writing the World Economic Outlook and the Division responsible for China, Hong Kong and Mongolia. Dr. Slok studied at Princeton University and University of Copenhagen. He has published numerous journal articles and reviews on economics and policy analysis.

 

Gene Sperling, Director, National Economic Council

Gene B. Sperling is Director of the National Economic Council and Assistant to the President for Economic Policy. Upon his appointment on January 7, 2011, Mr. Sperling became the first person to serve as NEC Director and principal economic policy advisor for two presidents: first under President Clinton from 1997 to 2001, and now under President Obama.   In the Obama Administration, Sperling has played a key role representing the White House in budget negotiations with Congress as well as in designing several of the President’s economic initiatives including the American Jobs Act, the extension of Transition Adjustment Assistance, the universal dislocated workers program, and the small business tax credit.  He also serves as the White House point person on several of the President’s top priorities including manufacturing policy, housing, and economic assistance for veterans.    During his eight years at the White House in the Clinton Administration, Sperling helped negotiate the 1993 and 1997 Deficit Reduction Acts and the increase in the earned-income tax credit and a champion of Saving Social Security First, the Children’s Health Insurance Program, the Hope Scholarship Tax Credit and the Direct Student Loan program.  Mr. Sperling’s work extends beyond economics. Prior to joining the Obama Administration, Mr. Sperling was a guest scholar at the Brookings Institution where he focused on education in poor and conflict-affected nations. He was the founder and Director of the Center for Universal Education at the Council on Foreign Relations and co-authored a book entitled What Works in Girls’ Education: Evidence and Policies from the Developing World.   Mr. Sperling was also Senior Fellow for Economic Policy at the Center for American Progress, where he authored The Pro-Growth Progressive: An Economic Strategy for Shared Prosperity. Prior to his current appointment, Mr. Sperling served as Counselor at the U.S. Department of the Treasury. In that role, Mr. Sperling served as a lead policy advisor on fiscal, budget, tax, job creation and small business issues. Mr. Sperling graduated from the University of Minnesota and Yale Law School, and attended Wharton Business School. He is a native of Ann Arbor, Michigan, where his parents still live.

 

Carl Tannenbaum, Former NABE President; Senior Vice President and Chief Economist, Northern Trust

Carl Tannenbaum is the Chief Economist for Northern Trust. Prior to joining Northern Trust, Carl led a team at the Federal Reserve Bank of Chicago whose charter was to analyze financial risk, its implication for the broad economy and policy choices to address it. He served as the head of the entire Federal Reserve System's risk group in Washington for a year that ended in March, working closely with Federal Reserve System Governors and senior officials. He received a bachelor's degree in finance and economics and a Masters of Business Administration degree from the University of Chicago. He is a past chairman of the Conference of Business Economists and also a past president of the National Association for Business Economics, the North American Asset/Liability Management Association and the Bank Administration Institute's Treasury Commission.

 

Will Tucker, Senior Associate, ideas42

Will Tucker is a Senior Associate at ideas42, where he works on household finance, consumer protection, and anti-poverty projects. Will grew up in Iowa City and Japan. A Truman Scholar, he graduated with degrees in Africana Studies and Public Policy & American Institutions from Brown University, where he was a member of the President’s Steering Committee on Slavery and Justice. He also received an M.P.A. from Princeton University’s Woodrow Wilson School, with a certificate in Science, Technology, and Environmental Policy. He has worked at the U.S. Office of Information and Regulatory Affairs in the Office of Management and Budget, as Director of the Rhode Island Urban Debate League, in public health and information technology evaluation, at the Department of Justice, and on the 2008 Obama campaign in Iowa.

 

Ani Turner, Deputy Director, Altarum Center for Sustainable Health Spending

Ani Turner has more than 20 years of experience in quantitative analysis and modeling to support decisionmaking in health care policy and operations. She has extensive experience developing models to forecast supply and demand of health professions at the federal and state levels, including studies of physicians, nurses, pharmacists, and physical therapists. Ms. Turner is currently leading two Altarum projects focusing on the physician workforce in the U.S., with special emphasis on primary care. Prior to joining Altarum and its predecessor company Vector Research, Inc. Ms. Turner studied issues related to energy use and incentives for a large public utility. She developed models of daily household electricity demand based on appliance ownership and demographic characteristics.  She surveyed residential energy audit participants to determine potential incentives for increasing installation of recommended conservation measures and conducted a study evaluating perceptions of community needs and effectiveness of existing community services for the United Way. For a decade, Ms. Turner led work for the Department of Defense conducting economic analyses of hospital requirements and life-cycle costs in support of over a dozen multi-million dollar military medical construction decisions.  More recently, Ms. Turner co-authored an initial assessment of the DoD TRICARE program’s civilian network provider capacity. Ms. Turner has played an active role in internal Altarum Institute research and planning activities.  She led two internal task forces defining Altarum’s vision for a transformed U.S. health system and potential focus areas for research.  She also led an internal research and development project to link national health expenditures as measured within the National Health Expenditure Accounts (NHEA) with employment by detailed occupation and expenditures for employee compensation and other inputs.  Ms. Turner also contributed to an internal examination of U.S. spending on wellness and prevention, developing a framework for expansion of the work outside expenditures captured in the NHEA. Ms. Turner holds a bachelor’s degree in mathematics, summa cum laude, from the University of Michigan, and is currently enrolled in the Master of Applied Economics program at Michigan.

 

Mark Vitner, Managing Director and Senior Economist, Wells Fargo

Mark Vitner is a managing director and senior economist at Wells Fargo, responsible for tracking U.S. and regional economic trends. Based in Charlotte, N.C., he also writes for the company’s Monthly Economic Outlook report, the Weekly Economic & Financial Commentary, and provides regular updates on the housing markets, commercial real estate, regional economies, and inflation.Mark joined Wachovia (then First Union) in 1993. Before that, he spent nine years as an economist for Barnett Banks in Jacksonville, Fla. Mark’s commentary has been featured in the New York Times, Wall Street Journal, Bloomberg, and many other publications. Originally from Atlanta, Mark earned his B.B.A. in economics from the University of Georgia, an M.B.A. from the University of North Florida, and has completed further graduate work in economics at the University of Florida. He also completed the National Association of Business Economics (NABE) Advanced Training in Economics program at Carnegie Mellon University. Mark is a member of the National Association of Business Economists and co-founded its Charlotte chapter, The Charlotte Economics Club. He serves as a distinguished lecturer and practitioner at the University of Georgia. He is also a member of the American Economic Association, the American Real Estate and Urban Economics Association, and the Charlotte Chapter of the Association for Corporate Growth. Mark currently chairs the economic advisory committee for the Bond Dealers of America. In addition, Mark serves as the chief economist for the North Carolina CCIM (Certified Commercial Investment Member). He is a member of the Blue Chip Economic forecasting panel and was recently named one of the 2009 North Carolina Power Players, 50 most powerful people in business, by Business Leader magazine. Mark currently serves on the Joint Advisory Board of Economists for the Commonwealth of Virginia.

 

Kim Wallace, Renaissance Macro Research

In his new role as a Managing Director at Renaissance Macro Research, Kim N. Wallace will be responsible for Washington Policy Research, and serve as a senior advisor and RenMac liaison to The Scowcroft Group. Mr. Wallace has enjoyed a 30-year career in policy analysis in state and federal governments and capital markets. Nominated by President Obama in March 2009 and confirmed by the U.S. Senate, Mr. Wallace most recently served as Treasury Assistant Secretary for Legislative Affairs until October 2011. During this period Mr. Wallace focused on helping to implement fiscal, financial, and international trade policies designed to advance U.S. economic recovery and growth. Mr. Wallace is proud to have received the Alexander Hamilton Award from Secretary Timothy Geithner, the highest honor bestowed on Treasury Department officials.   Prior to his service in the Obama administration, from 1994-2008, Mr. Wallace was an analyst and managing director at Lehman Brothers and briefly at Barclays Capital where he managed two research units. He analyzed a range of policy developments including deregulation of electricity, telecommunications, and financial markets (1994-2001). In his role as chief policy analyst, Mr. Wallace also built and managed a team dedicated to geopolitical risk analysis (2002-2008) and served as an advisor to Lehman’s executive committee. During his time at Lehman Mr. Wallace was a multiple recipient of the Institutional Investor All-American award. From 1990-1994, Mr. Wallace focused on fiscal policy as a legislative assistant to Senate Majority Leader George J. Mitchell, and from 1986-1989 served as a staff analyst at the U.S. Senate Budget Committee. Prior to entering federal service, Mr. Wallace worked from 1982-1985 as an analyst and legislative assistant for the Texas state legislature and later in the Texas Governor’s office.   Mr. Wallace received a Bachelor’s Degree from the University of Texas at Austin, and a Master’s Degree from the Johns Hopkins University. 

 

Christopher Whalen, Senior Managing Director, Tangent Capital Partners

Christopher Whalen is Senior Managing Director of Tangent Capital Partners in New York, where he works as an investment banker providing advisory services focused on companies in the financial services sector.   Chris is Vice Chairman of the board of Lord, Whalen LLC, parent of Institutional Risk Analytics, the Los Angeles-based provider of bank ratings, risk management tools, and consulting services for auditors, regulators and financial professionals. Christopher has appeared before Congress, the Securities and Exchange Commission and Federal Deposit Insurance Corporation to testify on a range of financial, economic and political issues.   Christopher is the author of the December 2010 book, Inflated: How Money and Debt Built the American Dream, now in a second printing from John Wiley & Sons. He edits The Institutional Risk Analyst, a weekly news report and commentary on significant developments in and around the global financial markets. He also contributes articles to Zero Hedge, Housing Wire and The Big Picture.   Christopher is a graduate of Villanova University (1981) and a fellow of the Networks Financial Institute at Indiana State University. He is a member of Professional Risk Managers International Association. Christopher was regional director of PRMIA’s Washington D.C. chapter from 2006 through January 2010. He is a member of the Economic Advisory Committee of the Financial Industry Regulatory Authority (FINRA) and the Global Interdependence Center in Philadelphia. 

 

Richard Yamarone, Senior Economist, Bloomberg

Richard Yamarone is an economist who has more than two decades of experience and focuses on monetary & fiscal policy, economic indicators, fixed income, commodities, and general macroeconomic conditions for Bloomberg Brief: Economics, a daily newsletter that features analysis, data and news on the forces shaping the global economy. Mr. Yamarone and the Bloomberg Briefs economics team provide in-depth analysis of macroeconomic data, policy and trends and how they will impact financial markets.   Mr. Yamarone forecasts U.S. economic statistics and trends, builds macroeconometric models, and analyzes possible outcomes. He is the creator of the Bloomberg Orange Book -- a compilation of macroeconomic anecdotes gleaned from comments CEOs and CFOs made on quarterly earnings conference calls. He travels extensively to speak to clients and corporate executives on the economic outlook, public speaking, and career and management coaching. The Bloomberg Brief: Economics is one of several specialized newsletters that combine Bloomberg data and news with industry-specific original content and commentary. Bloomberg Briefs are a product of the Bloomberg Professional® service. Bloomberg Briefs are available to customers of the Bloomberg Professional® service at no additional cost at BRIEF . Non-Bloomberg users can subscribe to the newsletters at www.Bloomberg.com/brief



 

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