What Do Institutional Investors Want in a Securities Trading System?

October 21, 2003

Speaker Biographies

John G. Colon

is a managing director of Greenwich Associates, an international business strategy consulting firm. He specializes in the firm’s investment banking and institutional equity brokerage practices in the United States, Asia, and Europe. Before joining Greenwich Associates in 1986, Mr. Colon was an analyst in the corporate finance department of Lehman Brothers Kuhn Loeb in New York.

Kenneth M. Lehn

is the Samuel A. McCullough Professor of Finance in the Katz School of Business at the University of Pittsburgh, where he teaches courses on business valuation and corporate restructuring. Mr. Lehn also is a professor of law at the University of Pittsburgh Law School. Mr. Lehn joined the faculty at the University of Pittsburgh in 1991, after serving as chief economist of the U.S. Securities and Exchange Commission for four years. Mr. Lehn also has taught at Washington University, UCLA, Miami University, and the Georgetown University Law Center. In addition, he has written on topics relating to the economics of professional sports. Mr. Lehn has published in leading academic journals, including the Journal of Financial Economics, Journal of Finance, Journal of Political Economy, American Economic Review, and the Journal of Law and Economics. He also has published pieces in the Wall Street Journal. Mr. Lehn is a founding editor of the Journal of Corporate Finance.

Stephen M. Sachs

is the director of trading for Rydex Global Advisors. Mr. Sachs has twelve years of experience trading securities in the financial markets. In 2002, he began at Rydex as director of trading, where he oversees all securities and derivatives trading. Before joining Rydex, Mr. Sachs spent two years as senior equity trader at Eagle Asset Management, where he was responsible for the planning and execution of trading strategies for $3 billion in growth, technology, and hedge fund portfolios. Previously, he was senior equity trader at Banc One Investment Advisors; account executive for Institutional Custody Services at Banc One Investment Management Group; securities trader at Nationwide Insurance; vice president/partner at Winand, Platt and Sachs Investments, Inc.; and a registered representative at Diversified Capital Markets, Inc.

Peter J. Wallison

joined AEI in 1999 as a resident fellow and as the codirector of AEI’s program on financial market deregulation. As a partner of Gibson, Dunn & Crutcher LLP, he practiced banking, corporate, and financial law in the firm’s Washington and New York offices. As the general counsel of the Treasury Department from 1981 to 1985, Mr. Wallison helped develop the Reagan administration’s proposals for deregulating the financial services industry. During 1986 and 1987, Mr. Wallison was counsel to President Ronald Reagan. He is the author of Back from the Brink, a proposal for a system of private deposit insurance; coauthor of Nationalizing Mortgage Risk: The Growth of Fannie Mae and Freddie Mac; and The GAAP Gap: Corporate Disclosure in the Age of the Internet; and the editor of Serving Two Masters Yet out of Control: Fannie Mae and Freddie Mac and Optional Federal Chartering of Insurance Companies, all of which have been published by the AEI Press. More recently, Mr. Wallison is the author of Ronald Reagan: The Power of Conviction and the Success of His Presidency, published in December 2002 by Westview Press.

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