News Detail
Chester Spatt Chosen as Member of Systematic Risk Council
Contact: Mark D. Burd 412-268-3486
Release Date: Jun 19, 2012
WASHINGTON— Chester S. Spatt, the Pamela R. and Kenneth B. Dunn Professor of Finance at Carnegie Mellon University’s Tepper School of Business, has been chosen as a member of the Systematic Risk Council (SRC), a private sector, non-partisan body of former government officials and financial and legal experts committed to addressing regulatory and structural issues relating to systemic risk in the United States.
At a news conference in Washington D.C. on Monday, June 18, the SRC issued a “call to action”, expressing the need for “a strong independent voice” to help monitor financial regulation and expediently implement financial reforms that are necessary to protect the public from financial instability. The SRC was created by CFA Institute, the global association of investment professionals that sets the standard for professional excellence, and The Pew Charitable Trusts, an independent nonprofit organization that brings a rigorous, analytical approach to solving today’s most challenging problems.
Professor Spatt served as Chief Economist and Director of Office of Economic Analysis at U.S. Securities and Exchange Commission (SEC) from 2004 to 2007. Earlier this year, he was named to serve on the U.S. Federal Reserve’s Model Validation Council, a group organized to assess models used in stress tests for banking institutions. A highly respected researcher of financial market regulation, he joins the SRC as a member of a distinguished group of professionals:
SRC Chair
- Sheila Bair, The Pew Charitable Trusts, Former FDIC Chair
Senior Advisor
- Paul Volcker, Former Federal Reserve Chair
Members
- Brooksley Born, Former U.S. Commodity Futures Trading Commission Chair
- Bill Bradley, Former U.S. Senator (D-NJ)
- William Donaldson, Former U.S. SEC Chair
- Harvey Goldschmid, Columbia Law School, Former U.S. SEC Commissioner
- Jeremy Grantham, Co-founder & Chief Investment Strategist, Grantham Mayo Van Otterloo (GMO)
- Chuck Hagel, Distinguished Professor, Georgetown University, Former U.S. Senator (R-NE)
- Richard Herring, The Wharton School, University of Pennsylvania
- Simon Johnson, Massachusetts Institute of Technology Sloan School of Management
- Hugh F. Johnston, Exec. VP & CFO, PepsiCo
- Ira Millstein, Legal Counsel to SRC; Chair, Columbia Law School, Center for Global Markets and Corporate Ownership
- Maureen O’Hara, Cornell University Johnson School of Management
- Paul O’Neill, CEO, Alcoa, Former U.S. Treasury Secretary
- John S. Reed, Former Chairman and CEO of Citicorp and Citibank
- John Rogers, CFA, President and CEO, CFA Institute
- Alan Simpson, Former U.S. Senator (R-WY)
- Chester Spatt, Tepper School of Business, Carnegie Mellon University
About the Tepper School of Business - Founded in 1949, the Tepper School of Business at Carnegie Mellon University (www.tepper.cmu.edu) is a pioneer in the field of management science and analytical-decision making. The school’s notable contributions to the intellectual community include eight Nobel laureates. The school is among those institutions with the highest rate of academic citations in the fields of finance, operations research, organizational behavior and production/operations. The academic offerings of the Tepper School include undergraduate studies in business and economics, graduate studies in business administration and financial engineering, and doctoral studies.
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