>
Faculty
>
Schedule
Wharton faculty scheduled to instruct at the Private Wealth Management Program are highlighted below. These faculty members are actively involved in the Securities Industry Institute and Investment Management Consultants Association (IMCA) Programs at Wharton. In addition, you will be able to call on the expertise of those invited as guest lecturers by the Institute.
Richard
C. MarstonRichard C. Marston is the James R.F. Guy Professor of Finance and Economics and is also Director of the George Weiss Center for International Financial Research. He holds an A.B. degree from Yale University, a B. Phil. from Oxford University, and a Ph.D. from the Massachusetts Institute of Technology. He was awarded a Fulbright and Rhodes Scholarship, and most recently, the Sanwa Bank Prize in International Finance. Dr. Marston will serve as Academic Director for the Institute for Private Investors' Private Wealth Management Program. .
Dr. Marston's research focus is on international financial markets and exchange rates. He is the author or editor of five books on international finance including his most recent work, International Financial Integration among the Major Industrial Countries. He holds senior editorial positions in several journals, including Journal of International Economics, Journal of International Money and Finance, and the Journal of Economic Literature. He has conducted programs in investment management for the Investment Management Consultants Association, the Securities Industry Association, and Pension Fund Program at Wharton, for Nomura Securities in Singapore, for the Asian Securities Industry Association in the Philippines, Taiwan and Malaysia, for Daiwa Securities in Japan, for Seminarium in Argentina, Chile, and Mexico, as well as for a number of American securities firms and money managers.
Dr.
Christopher C. Geczy Christopher C. Geczy, Ph.D., is an Assistant Professor on the Finance Department faculty of The Wharton School at the University of Pennsylvania. His current research focuses on various topics including risk management, multifactor models, the performance of managed funds, various aspects of equity lending and short-selling, and shareholder agreements among parties to firms. His work has appeared in various books and scholarly journals including the Journal of Finance, Journal of Financial Economics and the Journal of Political Economy. It has also been covered in the Wall Street Journal, The New York Times, The Financial Times, Forbes, SmartMoney Magazine, on CNBC's Squawk Box and in numerous other media outlets. Professor Geczy is a Fellow of the Wharton Financial Institutions Center and has been the New York Stock Exchange Fellow and the Geeweax-Turker Fellow at the Rodney L. White Center for Financial Research at Wharton. He has a B.A. in Economics from the University of Pennsylvania and a Ph.D. in Finance and Econometrics from the Graduate School of Business at the University of Chicago. Before his studies at Chicago, Professor Geczy worked for the Board of Governors of the Federal Reserve System, Washington, D.C., in its Division of Research and Statistics. He regularly teaches investment management and co-created the first full course on hedge funds at The Wharton School along with a number of executive education courses and has taught AIMR-accredited professional Risk Management courses through the University of Chicago's Graduate School of Business. He also has appeared often in the Securities Industry Association's annual Institute, speaking about hedge funds and alternative investments. He is an editor of the Journal of Alternative Investments, a founding board member of the Mid-Atlantic Hedge Fund Association, and serves on the curriculum and exam committees of the Chartered Alternative Investment Analyst Association. Professor Geczy has consulted for clients in the areas of asset allocation, hedge fund portfolio analysis and development, financial risk management, and the development of investment and trading strategies.
Jeffrey F. JaffeJeffrey F. Jaffe, Associate Professor of Finance, received his Ph.D. in Finance from the University of Chicago’s Graduate School of Business in 1973. Since that time, he has been on the Wharton faculty. His research interests include corporate finance, investments, money management, and the effects of information on the behavior of security prices. He won the Wharton Evening School’s Outstanding Professor Award 1989-1990.
Dr. Jaffe has been a frequent contributor to finance and economic literature in journals including the Quarterly Economic Journal, The Journal of Finance, The Journal of Financial and Quantitative Analysis, The Journal of Financial Economics, and The Financial Analysts’ Journal. His best-known work concerns insider trading, where he has shown both that corporate insiders earn abnormal profits from their trades and that regulation has little effect on these profits. He also has researched initial public offerings, regulation of utilities, the behavior of markets, the fluctuation of gold prices, the theoretical effect of inflation on the interest rate, the empirical effect of inflation on capital asset prices, the relationship between small capitalization stocks and the January effect, and the capital structure decision.
Dr. Jaffe is the Academic Director of several Wharton Executive Education programs including Pension Funds and Investment Management.
A.
Craig MacKinlayA. Craig MacKinlay is the Joseph P. Wargrove Professor of Finance at The Wharton School of the University of Pennsylvania, where he has been a faculty member since 1984. He is also on the Board of Directors of the American Finance Association, a Research Associate of the National Bureau of Economics Research, a member of the ITG Scientific Advisory Board, a member of the Journal of Investment Consulting Advisory Board, and a former member of the NASD Economic Advisory Board. His research interests include empirical implementation and validation of asset pricing models, measuring investment performance, pricing of futures contracts, microstructure of financial markets, assessment of credit risk, and statistical methods in finance.
MacKinlay has coauthored two books, one entitled the Econometrics of Financial Markets and another entitled A Non-Random Walk Down Wall Street. He has also published numerous articles in finance and economics journals. Examples of publications include "Stock Market Prices Do Not Follow Random Walks," Review of Financial Studies 1988 (with A. Lo), "Multifactor Models Do Not Explain Deviations from the CAPM," Journal of Financial Economics 1995, and "Asset Pricing Models: Implications for Expected Returns and Portfolio Selection," Review of Financial Studies 2000 (with L. Pastor). He has served as an Associate Editor for a number of journals including the Review of Financial Studies, the Journal of Business and Economic Statistics, the Pacific Basin Finance Journal, and the Review of Quantitative Finance and Accounting.
MacKinlay received his doctorate in Financial Economics and Statistics from the Graduate School of Business at the University of Chicago. His other degrees include a MBA from the University of Chicago, a MBA from the University of Western Ontario, and a BSc from the University of Western Ontario. His honors include the Batterymarch Fellowship, the Fishman-Davidson Center Research Fellowship, the American Association of Individual Investors Award for Research, the Society of Financial Studies Paper of the Year Award, the Paul A. Samuelson Award for Outstanding Scholarly Writing on Lifelong Financial Security, and the Geewax and Terker Prize in Investment Research.
Andrew
Metrick Andrew Metrick is an Assistant Professor of Finance at The Wharton School at the University of Pennsylvania. He joined Wharton in 1999, and he teaches the MBA and undergraduate elective on "Venture Capital and Private Equity." He previously spent five years as a junior faculty member in the Harvard University Economics department. He received a Ph.D. in Economics from Harvard in 1994 and a B.A. in Economics and Mathematics from Yale in 1989. Professor Metrick's main research interest is in investment management, and he has published papers in The Journal of Finance, The Quarterly Journal of Economics, The American Economic Review, and other academic journals. Current projects include performance and risk measurement for private equity, analysis of venture capital outcomes, and a large-scale empirical study of individuals' savings and investment behavior in defined-contribution pension plans. His work has been cited by The New York Times, The Wall Street Journal, Forbes, Businessweek, and CNN. He has also worked as a consultant to several investment advisory and management firms, and has served as an expert witness in financial-market litigation.
Paul Tiffany
Paul Tiffany is an Adjunct Professor at the Wharton School and the Haas School of Business of the University of California at Berkeley. Prior to these appointments, he was a Lecturer at Stanford University's Graduate School of Business, and a Visiting Lecturer at INSEAD in Fontainebleau, France. Prior to entering academia, Dr. Tiffany was a consultant to several national management consulting firms, assistant to the president of a large financial services firm, and organizational analyst for a large public services agency. He currently heads Paul Tiffany & Associates, a multi-specialty consulting and training organization based in Santa Rosa, California, that offers management services to such clients as Morgan Stanley Dean Witter, US Steel, Johnson & Johnson (Latin America Pharmaceutical Group), Bell Atlantic, Fletcher Challenge (New Zealand), American Chamber of Commerce (Hong Kong), the American College of Physician Executives, and Management Centre Europe. Dr. Tiffany is also chairman of iCore, Inc., a high-tech start-up firm based in northern California that develops patented SCI network products. His most recent book, Business Plans for Dummies (IDG Books), co-authored with Dr. Steven Peterson, is currently in its sixth printing and is available in eight languages. Dr. Tiffany has an undergraduate degree from Loyola University, an M.B.A. from Harvard University, and a Ph.D. from the University of California at Berkeley.
Charles W. Collier
Charles W. Collier is the senior philanthropic adviser at Harvard University, and has also held positions at Princeton, Brown, Andover, and Dartmouth. He has worked with hundreds of individuals to shape their philanthropy, help them make tax-wise gift decisions, and advise them on family issues surrounding wealth. He is on advisory committees of the National Center for Family Philanthropy and The Philanthropic Initiative, and a faculty member for the Family Office Exchange Foundation and the Institute for Private Investors. Mr. Collier is a graduate of Phillips Academy, Andover, and holds a B.A. from Dartmouth College and an MTS from Harvard Divinity School. His book, Wealth in Families, was recently published by Harvard University.
Charles
E. Dwyer Charles Dwyer has held the positions of chairperson of the board of the Wharton Center for Applied Research and director of the Management and Behavioral Science Center. He has more than 30 years of experience in corporate and organizational consulting and executive development for various clients, including IBM, the New York Stock Exchange, PepsiCo, the Buick Division of General Motors, Merrill Lynch, Intel, Bates Advertising, the Justice Department, the General Services Administration, and the Federal Reserve System.
Professor Dwyer is recognized as an outstanding teacher and lecturer. His recent books are Managing People (Kendall/Hunt, 1996), The Shifting Sources of Power and Influence (American College of Physician Executives, 1992), and Achieving Power and Influence in Organizations, the latter being a multimedia, self-instructional series of three seminars.
James
E. Hughes, Jr. James E. Hughes, Jr., Esq. is the author of the book Family Wealth: Keeping It in the Family, and numerous articles on family governance and wealth preservation. He is the founder of a law partnership in New York City, Hughes and Whitaker, specializing in the representation of private clients throughout the world. He frequently facilitates multi-generational family meetings with a special emphasis on mission statements and governance issues. He has spoken frequently at numerous international and domestic symposia on international estate and trust planning. He is an emeritus member of the Board of The Philanthropic Initiative; a Councilor to the Family Office Exchange, an emeritus faculty member of the Institute for Private Investors; a member of the Board of the Albert and Mary Lasker Foundation; a Senior Dean of the The Learning Academy and a member of the Board of The Learning Academy Foundation as well as a former advisor to New Ventures in Philanthropy. He is also a member of the boards of various private trust companies, an advisor to numerous investment institutions and a member of the editorial boards of various professional journals. Mr. Hughes was a partner of the law firms of Coudert Brothers and Jones, Day, Reavis and Pogue. He is a graduate of the Far Brook School, which teachers through the Arts, The Pingry School, Princeton University and The Columbia School of Law.
Charlotte
B. BeyerFounder & CEO
Institute for Private Investors
Charlotte B. Beyer is the Founder & CEO of the Institute for Private Investors. IPI is an educational and networking forum for families with substantial assets and their advisors. Since 1992, IPI has grown to more than 300 families and 200+ advisor firms. The appeal for the 800+ private investor members is education and networking in a safe harbor. IPI stays “neutral” and offers no investment recommendations or consulting services. Membership dues and educational fees from advisors and individual members are the sole revenue source of the Institute.
IPI’s stated mission is to change the way investors work with advisors and advisors work with investors, for the benefit of both. To truly make this happen, professionals need to recognize that a more skeptical, informed and demanding investor is here to stay. Just as important, though, investors need to learn how to better assess what they hear with a deeper understanding of markets and their own tolerance for risk.
Today a network of 2,000 individuals, family offices and professionals attend programs here and abroad. IPI also holds semiannual programs in Private Wealth Management in collaboration with the Wharton School at the University of Pennsylvania.
Ms. Beyer spent 20 years in financial services including banking, corporate trust, operations and money management. Prior to founding IPI, she was a Vice President & Director of Private Client Marketing for Lazard Asset Management. Earlier in her career, Ms. Beyer was a Senior Vice President & Principal of Wood, Struthers & Winthrop, a subsidiary of DLJ, and spent ten years at Bankers Trust as Vice President in the Fiduciary Department.
A graduate of Hunter College, Ms. Beyer also attended the University of Pennsylvania and the Stern/NYU Graduate School of Business Administration. She is immediate Past President of the Board of Trustees of the Westover School, an all-girls school in Middlebury, Connecticut, and serves on the Advisory Board of Institutional Investor’s Journal of Wealth Management.
- “Working with Professional Money Managers,” Chapter
9 in Wealthy & Wise, John Wiley & Sons, Inc., 2003
- “Straight Talk Is a Two-way Street”
InvestmentNews, September 2, 2002
- “Understanding Private Investor Behavior
in the Aftermath of September 11”
Trusts & Estates, January 2002
- “Family Offices in America—Why the
Bloom Is Off the Rose”
The Journal of Private Portfolio Management, Fall 1999
The Institute performs no due diligence on investment products or firms and is not recommending the products presented. Members should perform their own extensive due diligence.
©1995-2007 Institute for Private Investors. All rights reserved. Your use of this site is governed by the Terms of Service.