Modelling Risks in Financial Markets
Speakers' Bios
Professor David Miles
David Miles was appointed to the Monetary Policy Committee at the Bank of England in March 2009; a position he took up on June 1st. Prior to that he was Chief UK Economist at Morgan Stanley since October 2004. He is also a Visiting Professor at Imperial College. Miles was formerly a professor of financial economics and head of the Finance Department at Imperial. As an economist he has focused on the interaction between financial markets and the wider economy.
He has been a specialist economic advisor to the Treasury Select Committee. In Budget 2003, the Chancellor commissioned Professor Miles to lead a review of the UK mortgage market. The result, published at Budget 2004, was the report: The UK mortgage market: taking a longer-term view. He is a council member of the Royal Economic Society, a research fellow of the Centre for Economic Policy Research and at the CESIFO research institute in Munich. He is a former editor of Fiscal Studies.
Dr Martin Weale
Dr M.R. Weale (b. 1955) became the Director of the National Institute of Economic and Social Research in 1995. after working as a lecturer in Economics at the University of Cambridge and a Fellow of Clare College
(B.A. 1977, Sc.D. 2006) He has researched a large number of aspects of applied economics at both macro and micro-economic levels. He has recently been working on issues connected with savings and pensions,
including the impact of means tested benefits on retirement behaviour and the adequacy of overall saving. Weale has published his work in many books and journals, including the Economic Journal, the Journal of the Royal Statistical Society, the Journal of Business Economics and Statistics, the Journal of Public Economics, the Review of Economic Studies and the Review of Economics and Statistics. He was appointed CBE for his services to Economics in 1999 and was elected an Honorary Fellow of the Institute of Actuaries in 2001. In 2006 he was appointed to the Board of Actuarial
Standards. City University awarded him an honorary doctorate in 2007.
Professor Philip H Dybvig
Philip H. Dybvig is currently the Boatmen's Bancshares Professor of Banking and Finance at Olin School of Business at Washington University. He is well known for his paper, Diamond-Dybvig (1983), one of the most widely cited
papers in Finance and Economics. The Diamond-Dybvig model shows how banks serve the economy by creating liquidity, and how this liquidity creation subjects the banks to runs if there is not any deposit insurance or other
protection. Dybvig previously taught at Princeton University and was tenured at Yale University. He has published two textbooks and more than 35 articles in leading journals. He has consulted for government, organizations, and
individuals.
Professor Alex Lipton
Alex Lipton is a Managing Director and Co-Head of the Global Quantitative Group at Bank of America Merrill Lynch, and a Visiting Professor of Mathematics at Imperial College London. Prior to his current role, he was a Managing Director and Head of Capital Structure Quantitative Research at Citadel Investment Group in Chicago; he has also worked at Credit Suisse, Deutsche Bank and Bankers Trust. Previously, Alex was a Full Professor of Mathematics at the University of Illinois at Chicago and a Consultant at Los Alamos National Laboratory. He received his undergraduate and graduate degrees from Lomonosov Moscow State University. In 2000 Alex was awarded the first Quant of the Year Award by Risk Magazine. Alex is the author of two books, Magnetohydrodynamics and Spectral Theory and Mathematical Methods for Foreign Exchange, and the editor of three more. He has published numerous research papers on hydrodynamics, magnetohydrodynamics, astrophysics, and financial engineering. His current interests include credit and related topics, quantitative aspects of algorithmic trading, as well as technical trading strategies.
Andrew Haldane
Andy Haldane became Executive Director, Financial Stability at the Bank of England on 1 January 2009. The Financial Stability area plays a key role in meeting the Bank's responsibilities for maintaining the stability of the financial system as a whole. In this role, Andy has responsibility for developing Bank policy on financial stability issues and the management of the Financial Stability Area. Andy is a member of the Financial Stability Board, which gives high level guidance on priority-setting, and of the Bank’s Executive Management Team.
Before taking up his current role, Andy set up and headed the Systemic Risk Assessment Division within the Financial Stability area of the Bank from 2005. His previous roles include: Head of the Market Infrastructure Division; Head of the International Finance Division; and a secondment to the International Monetary Fund. Prior to that he worked in Monetary Analysis, on various issues regarding monetary policy strategy, inflation targeting and Central Bank independence.
Andy graduated from the University of Sheffield in 1988 with a BA in Economics. He went on to take an MA in Economics at the University of Warwick before joining the Bank in 1989.
Andy has written extensively on domestic and international monetary and financial stability, authoring around 80 articles and three books on issues including inflation targeting, central bank independence, international financial crises, financial stability frameworks and payment systems. He is a member of various international public policy committees, economics associations, editorial boards and academic advisory committees
Professor Donald MacKenzie
Donald MacKenzie works in the sociology of science and technology and in the sociology of markets, especially of financial and carbon markets. He holds a personal chair in sociology at the University of Edinburgh, where he has taught since 1975. His most recent books are An Engine, not a Camera: How Financial Models shape Markets (MIT Press, 2006), Do Economists Make Markets? On the Performativity of Economics (Princeton University Press, 2007), co- edited with Fabian Muniesa and Lucia Siu, and Material Markets: How Economic Agents are Constructed (Oxford University Press, 2009).
