Speaker Biographies
July 26, 2005
Tanya S. Beder joined Citigroup Alternative Investments in May 2004 as chief executive officer of their single manager proprietary hedge fund unit, Tribeca Global Management LLC. Prior to this, she was a managing director and head of the Strategic Quantitative Investment Division of Caxton Associates, LLC—a $10 billion investment management firm located in New York City. Before Caxton, Ms. Beder had over fifteen years of Wall Street experience as president of Capital Market Risk Advisors and as a vice president of The First Boston Corporation. In 1997 Euromoney named Ms. Beder as one of the top fifty women in finance around the world. From 1998 through 2003, Ms. Beder was chairman of the Board of the International Association of Financial Engineers; currently she is on the Board of Directors and serves as the co-chair of The Investor Risk Committee. She was an author of the Risk Standards for Institutional Investors and Institutional Investment Managers. She has been on the adjunct faculty of the Yale University School of Management and the Columbia University Graduate School of Business Administration, and is an appointed fellow of the International Center for Finance at Yale. Ms. Beder has written several articles in the financial area that have been published by The Journal of Portfolio Management, The Financial Analysts Journal, The Harvard Business Review, The Journal of Financial Engineering, Probus Publishing, John Wiley & Sons, and Simon & Schuster.
Adam Lerrick is the Friends of Allan H. Meltzer Professor of Economics at the Tepper School of Business at Carnegie Mellon University and director of the University’s Gailliot Center for Public Policy. He is also a visiting scholar at AEI. He originated and leads the negotiation team of the Argentine Bond Restructuring Agency plc (ABRA). ABRA unites the interests of an estimated 30,000 European retail investors to create the largest foreign creditor in the $100 billion Argentina debt restructuring. Since 2001, Mr. Lerrick has served as advisor on international economic policy to the Joint Economic Committee of the Congress of the United States. He was separately an advisor on international economic policy to the Majority Leader of the House of Representatives of the U.S. Congress from April 2001 to January 2003. He acted as the senior advisor to the chairman of the International Financial Institution Advisory (“Meltzer”) Commission of the U.S. government. Formerly head of product development for the international capital markets at Salomon Brothers and then at Credit Suisse First Boston, Mr. Lerrick found solutions to the large scale financing needs of major governments and multilateral borrowers. In the international capital markets, he designed and executed pioneering debt instruments for many governments, among them, Germany, France, Belgium, and Sweden. Mr. Lerrick has written, testified before Congress, and spoken widely on questions of development aid, debt relief, financial markets, sovereign debt crises, and the international financial system. His commentaries have been published in the Financial Times, Wall Street Journal, Washington Post, and Canada’s National Post, and his views have aired on the Newshour with Jim Lehrer, National Public Radio, Bloomberg Television, and PBS’s For the Record. Academic publications have appeared in the Journal of Monetary Economics and the Journal of Restructuring Finance. He has been a featured speaker at conferences organized by the International Monetary Fund, the World Bank, the Inter-American Development Bank, and the Emerging Markets Creditors Association.
John H. Makin is a resident scholar at AEI and a principal at Caxton Associates, L.L.C., in New York City, a major investor in foreign exchange, commodity, and currency markets. Before joining both AEI and Caxton, Mr. Makin was director of the Institute for Economic Research and professor of economics at the University of Washington in Seattle. He has served as a consultant to the U.S. Treasury, the Federal Reserve System, the International Monetary Fund, and the Bank of Japan. He was a member of the panel of economic advisers of the Congressional Budget Office. From 1988 to 1992, Mr. Makin served as chairman of the Japan-United States Friendship Commission, which administers $4.5 million in research grants on Japanese-U.S. policy research and cultural exchange. He testifies frequently before both houses of Congress on issues such as international competitiveness, trade, tax, and budget policy. Mr. Makin is coauthor of Debt and Taxes: How America Got into Its Budget Mess and What to Do about It (1994) and has written or edited more than a dozen books on a wide range of economic subjects.
Chester Spatt joined the Securities and Exchange Commission as chief economist in July 2004. He is the Mellon Bank Professor of Finance at the Tepper School of Business at Carnegie Mellon University and director of its Center for Financial Markets. He has taught at Carnegie Mellon since 1979. Mr. Spatt is a well-known scholar studying financial economics with broad interests in financial markets. He has analyzed extensively market structure, pricing and valuation, and the impact of information in the marketplace. For example, he has been a leading expert on the design of security markets in various settings as well as on taxation and investment strategy. He has served as executive editor and one of the founding editors of the Review of Financial Studies, president and a member of the Founding Committee of the Society for Financial Studies, president of the Western Finance Association, and is currently an associate editor of several finance journals. He also has served as an expert for the Federal Energy Regulatory Commission (FERC) in its investigation of market manipulation in the Western energy markets in 2000 and 2001.
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