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Center for Financial Research

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Special Advisor
Senior Fellows
Senior Fellow In Residence
Fellow in Residence
Visiting Scholars


Jack Reidhill is the Acting Associate Director of the Center for Financial Research in the FDIC's Division of Insurance and Research in Washington, D.C. Mr. Reidhill has extensive research and practical experience in dealing with failed financial institutions. He helped develop numerous assets disposition strategies for the Resolution Trust Corporation. Prior to RTC he was Director of the Analysis and Evaluation Division at the Federal Savings and Loan Insurance Corporation (FSLIC). In that position he directed the analysis of proposals for buying or closing failed thrift institutions.

He has worked with the International Association of Deposit Insurers on many matters, most recently on the Financial Stability Board's "Thematic Peer Review of Deposit Insurance Systems" and on enhancing the International Association of Deposit Insurers Guidance for Deposit Insurers. In 2000 and 2001 he helped the People's Bank of China develop their deposit insurance proposal and has provided technical assistance for many deposit insurers worldwide. For many years he was the FDIC's representative on the Research Task Force of the Basel Committee on Bank Supervision.

He holds a Master's Degree in Economics from the George Washington University and a Bachelor's Degree from the University of Colorado.

CFR Special Advisor

Haluk Ünal is a Professor of Finance at the Robert H. Smith School of Business, University of Maryland. He has been a research scholar at the FDIC Division of Insurance and Research for several years, a Senior Fellow at the Wharton Financial Institutions Center, and a member of the Standard and Poor's Academic Council. He is the Managing Editor of the Journal of Financial Services Research.

Ünal holds doctorates in finance from Ohio State and in economics from Istanbul University. Ünal also earned a masters degree in accounting from Ohio State. His current research focuses on executive compensation, corporate bonds, bank mergers, pricing default risk, risk management, and mutual-to-stock conversions in the savings and loan industry. He is published in the Journal of Finance, Journal of Financial and Quantitative Analysis, Journal of Financial Services Research, Journal of Money Credit and Banking, Journal of Banking and Finance, Review of Derivatives Research, and Journal of Financial Economics.

CFR Senior Fellows

Sanjiv Das is a Professor of Finance at Santa Clara University's Leavey School of Business, and previously held faculty appointments at Harvard Business School and University of California Berkeley. He holds a doctorate in finance from New York University and a masters in computer science from UC Berkeley, and is also a qualified cost and works accountant. In addition, he worked as Vice President for Citibank Asia. He is a senior editor of The Journal of Investment Management and co-editor of The Journal of Derivatives.

Prior to being an academic, Das worked in the derivatives business in the Asia-Pacific region. His current research interests include: the modeling of default risk, algorithms for harvesting financial information from the web, derivative pricing models, and portfolio theory. He has published more than 60 articles in academic journals.

Robert (Bob) DeYoung is the Capitol Federal Professor in Financial Institutions and Markets in the School of Business at the University of Kansas. In addition, DeYoung is a visiting scholar at the Federal Reserve Bank of Kansas City, and a co-editor of the Journal of Financial Services Research. His research focuses on the evolution of domestic and international financial markets and the performance of the firms that operate in those markets. His writings have appeared in numerous academic, industry, and regulatory publications. Before joining KU, DeYoung was an associate director of research at the FDIC (2005-2007); an economic advisor at the Federal Reserve Bank of Chicago (1998-2005); an adjunct member of the Finance Department at DePaul University (2000-2003); a senior financial economist at the Office of the Comptroller of the Currency (1992-1998); and a Joyce Foundation Teaching Fellow at Beloit College (1988-1992). He earned a bachelors degree from Rutgers University-Camden in 1983 and his doctorate in economics from the University of Wisconsin-Madison in 1989.

Robert Jarrow is a Professor of Finance at Cornell University and holds the Ronald P. and Susan E. Lynch chair in Investment Management. He holds a doctorate in finance from MIT and an MBA from the Tuck School. Jarrow's research interests include derivatives, risk management, investments, and asset pricing theory. His research has won numerous awards. Jarrow is the managing editor of Mathematical Finance, a co-editor of The Journal of Derivatives, and an associate editor for other finance journals. He also serves on various corporate board of directors and advisory boards.

Edward J. Kane is a Professor of Finance at Boston College, where he moved after a distinguished career at Ohio State University. He also taught at Princeton University and Iowa State University. Professor Kane received his bachelors degree from Georgetown University and his doctorate from MIT. Specific research areas include financial crisis management; deposit insurance; causes and implications of financial change; the changing structure of financial services competition and regulation; politics of policy-making; and the taxation of financial institutions and instruments.

Kane is a past president and fellow of the American Finance Association, a former Guggenheim fellow, and a Research Associate of the National Bureau of Economic Research. He serves on the editorial boards of seven professional journals. A founding member of the Shadow Financial Regulatory Committee, Kane rejoined this committee in the summer of 2005. He also served for twelve years as a Trustee and member of the Finance Committee of Teachers Insurance. Currently, he consults for the World Bank.

George Pennacchi is the Investors in Business Education Professor of Finance at the University of Illinois at Urbana-Champaign. Since earning his doctorate in economics from MIT, he has served on the faculties of the University of Pennsylvania's Wharton School and Bocconi University. He is managing editor of the Journal of Financial Intermediation, and associate editor of the Journal of Financial and Quantitative Analysis, the Journal of Financial Services Research, and the Journal of Money, Credit, and Banking. His research interests include financial institutions, derivative securities, and bond markets.

Mitchell Petersen is the Glen Vasel Professor of Finance at the Kellogg School of Management, Northwestern University. He received his doctorate from MIT in 1990 and joined the Northwestern faculty in 1994, following four years teaching at the University of Chicago. Petersen's research is in the area of empirical corporate finance - the questions of how firms evaluate potential investment projects and how they fund such projects. His recent writing focuses on the funding of small firms and how such funding has been altered by technology and changes in the financial (banking) market. Petersen has published widely in finance and economics, and has been the recipient of numerous research and teaching awards.

Petersen has been a member of the editorial board of various journals, including the Journal of Finance, Financial Management, Review of Financial Studies, and the Journal of Financial Intermediation. He is also a research associate with the National Bureau of Economic Research (NBER), a member of the Moody's Academic Advisory and Research Committee, and served on the Board of Directors of L.R. Nelson.

CFR Senior Fellow In Residence

Myron Kwast is retired from the Federal Reserve Board, where he served as a senior associate director in the Division of Research and Statistics. He has more than 30 years of experience providing public policy analysis and advice to the Federal Reserve Board on banks, bank supervision and regulation, financial stability, deposit insurance, antitrust and other financial institutions and markets issues. Kwast has published more than 30 papers in professional journals, has been a visiting scholar at the Swiss National Bank and the Dutch National Bank, and has co-chaired the Basel Committee on Banking Supervision's Research Task Force. He holds a doctorate in economics from the University of Wisconsin at Madison, and was an assistant professor at the University of Oklahoma before joining the Federal Reserve.

CFR Fellow In Residence

Carlos D. Ramirez is a Professor of Economics at George Mason University. He received his masters in 1991 and doctorate in economics from Harvard University in 1993. His major fields of interest are banking regulation, financial economic history, corporate finance, macroeconomics, and international monetary economics. He has published articles in the Journal of Monetary Economics, Journal of Finance, Journal of Financial Intermediation, Journal of Money, Credit, and Banking, Journal of Economic History, Public Choice, and several other academic journals. He regularly teaches courses in macroeconomics and international finance both at the undergraduate and graduate levels.

CFR Visiting Scholars

Edith Liu is an Assistant Professor of Finance at Cornell University. She holds a PhD in Finance from the Wharton School of the University of Pennsylvania and an MSc from the London School of Economics. Her research area focuses on international finance, global banking, open economy macroeconomics, and capital flows. She regularly teaches a class on Investments and Advanced Corporate Finance. Prior to academia, she worked as a financial analyst in the investment banking technology coverage area and in foreign exchange derivative sales.

Last Updated 07/01/02014 cfr@fdic.gov