Keynote Speaker Bios



Richard Cantor serves as Chief Credit Officer for Moody’s Corporation and Moody’s Investors Service, a position he has held since 2008. In this role, Mr. Cantor manages the Credit Strategy and Standards Group, which is responsible for the credit rating agency’s global credit strategy and thematic research, the quality and consistency of its ratings across regions and sectors, and the procedures, methodologies, models, and tools used in the determination of ratings. From 2009 to 2019, Mr. Cantor also served as Moody’s Corporation’s Chief Risk Officer and in this role, led the firm’s global risk management function.  Appointed by the U.S. State Department in 2015, Mr. Cantor served a three-year term in the Asia-Pacific Economic Cooperation (APEC) Business Advisory Council (ABAC), during which he chaired ABAC’s Financial and Economic Working Group.  Prior to joining Moody’s, Mr. Cantor held a variety of positions at the Federal Reserve Bank of New York, including in the Capital Markets Group and the Discount Window, and was an adjunct professor at New York University’s and Columbia University’s business schools. He has also taught Economics at UCLA and The Ohio State University. Mr. Cantor holds BA degrees in English and Economics from Tufts University and a PhD in Economics from Johns Hopkins University.




Peter DeMarzo is the Staehelin Family Professor of Finance and former Senior Associate Dean at the Graduate School of Business, Stanford University. He is past President of the American Finance Association and Western Finance Association, and a Research Associate at the National Bureau of Economic Research. Professor DeMarzo’s research is in the area of corporate finance, asset securitization, and contracting, as well as market structure and regulation. His recent work has examined issues of the optimal design of contracts and securities, leverage dynamics and the role of bank capital regulation, and the influence of information asymmetries on stock prices and corporate investment. He has research awards including the Western Finance Association Corporate Finance Best-Paper Award, the Charles River Associates Best-Paper Award, and the Barclays Global Investors/Michael Brennan Best-Paper of the Year Award from The Review of Financial Studies.

Gary Gorton is The Frederick Frank Class of 1954 Professor of Finance at the Yale School of Management, which he joined in August 2008. Prior to joining Yale, he was the Robert Morris Professor of Banking and Finance at The Wharton School of the University of Pennsylvania, where he taught during 1984-2008. Dr. Gorton has done research in many areas of finance and economics, including both theoretical and empirical work. He is the author of Slapped by the Invisible Hand: The Panic of 2007 (Oxford University Press), Misunderstanding Financial Crises (Oxford University Press), The Maze of Banking (Oxford) and Fighting Financial Crises, with Ellis Tallman (University of Chicago Press). Dr. Gorton has consulted for the U.S. Board of Governors of the Federal Reserve System, various U.S. Federal Reserve Banks, the Bank of England, the Bank of Japan, and the Central Bank of Turkey. He was a consultant to AIG Financial Products during 1996-2008. Dr. Gorton received his doctorate in Economics from the University of Rochester. In the field of economics, he received Master's degrees at the University of Rochester and Cleveland State University, and also received a Master's degree in Chinese Studies from the University of Michigan.


Ralph S. J. Koijen is the AQR Capital Management Professor of Finance and Fama Faculty Fellow at the University of Chicago Booth School of Business. He is also a Research Associate at the National Bureau of Economic Research and a Research Fellow of the Center for Economic Policy Research. He serves as an Editor of the Review of Financial Studies. Professor Koijen’s research focuses on asset pricing, insurance, and econometrics. His research has been published in the American Economic Review, Econometrica, the Journal of Political Economy, the Journal of Finance, the Review of Financial Studies, and the Journal of Financial Economics. His research has been covered in popular media, such as the Financial Times, the Wall Street Journal, and The Economist. Professor Koijen was awarded the 2019 Fischer Black Prize by the American Finance Association, given biennially to the top financial economics scholar under the age of 40. Before joining Chicago Booth in 2018, Professor Koijen was a Professor of Finance at the London Business School and NYU Stern, and an Assistant and Associate Professor of Finance at Chicago Booth. He received his undergraduate degree in Econometrics from Tilburg University and his Ph.D. in Finance from Tilburg University. 




Speaker Bios


Hui Chen is an Associate Professor of Finance at the MIT Sloan School of Management and a research associate at the NBER. Chen’s research focuses on financing frictions in financial markets and the macro economy. Some of his recent projects study the impact of trading halts such as circuit breakers on market dynamics, and the role of Chinese repo markets in shadow banking. He also has research that integrates machine learning techniques with finance and economics, with applications in structural model selection and estimation, credit risk forecasting, and portfolio management. He is the recipient of the Smith Breeden Prize in 2011, among other scholarly awards. He has served on the editorial boards of the Journal of Finance, Review of Financial Studies, Management Science, Journal of Banking and Finance, and Review of Asset Pricing Studies. Chen holds a BA in economics and finance from Sun Yat-Sen University, an MS in mathematics from the University of Michigan, and a PhD in finance from the University of Chicago.




Pierre Collin-Dufresne is a Professor at the Swiss Finance Institute of the École Polytechnique Fédérale de Lausanne. He has published in leading academic journals such as Econometrica, The American Economic Review, and The Journal of Finance and won various research awards including Amundi Smith Breeden Prizes. He has served as director of the American Finance Association, director of the Western Finance Association, associate editor for several leading finance journals, and has been a member of the Center of Economic Policy Research and of the National Bureau of Economic Research. Before joining the SFI, he was the Carson Family Professor of Business at Columbia University. He previously held professorships at the Haas School of Business of UC Berkeley and at Carnegie Mellon University. Professor Collin-Dufresne also worked in the Quantitative Strategies group of Goldman Sachs Asset Management and as consultant for the Federal Reserve Bank of New York and the European Central Bank, as well as for Cornerstone Research.



Edith Hotchkiss is a Professor of Finance at the Carroll School of Management at Boston College, where she teaches courses in corporate finance, valuation, and restructuring.  She received her AB in engineering and economics from Dartmouth College and her PhD in finance from NYU’s Stern School of Business.  Prior to entering academics, she worked in consulting and for the Financial Institutions Group of Standard & Poor’s Corporation. Professor Hotchkiss’s research covers topics including:  corporate financial distress and restructuring; the efficiency of Chapter 11 bankruptcy; and trading in corporate debt markets.  Her work has been published in leading finance journals including the Journal of Finance, Journal of Financial Economics, and Review of Financial Studies.  She has served on the national board of the Turnaround Management Association, and as a consultant to FINRA on fixed income markets.  She has also served as an advisor in several recent Chapter 11 cases.




Hanno Lustig Stanford Graduate School of Business

Hanno Lustig has worked at the intersection of macroeconomics and finance. Recently, his research has focused on understanding the forces

that determine exchange rates in currency markets.

His research has shown how currencies have different risk

characteristics that are determined by a country's role in the global economy. These risk characteristics help to understand the behavior of exchange rates. In addition, Lustig has explored the impact of government guarantees on

the pricing of tail risk borne by large financial institutions.

More recently, Lustig has also worked on understanding the determinants of

a firm's volatility (volatility of sales, cash flows, stock returns etc).





Ian Martin is a professor in the Department of Finance at the London School of Economics. Prior to joining the LSE, he was an Assistant and then Associate Professor at Stanford GSB and, earlier, a bond option and swaption trader at Goldman Sachs International in London. He has a PhD in economics from Harvard, an MSc in economics from the LSE, and an MA and MMath in mathematics from Cambridge.

Michael Schwert is an Assistant Professor of Finance at the Wharton School of the University of Pennsylvania.  His research focuses on frictions in the debt markets and their effects on asset prices and the behavior of borrowers and lenders.  He received his PhD from Stanford Graduate School of Business.





Discussant Bios


Itay Goldstein is the Joel S. Ehrenkranz Family Professor in the Finance Department at the Wharton School of the University of Pennsylvania. He is also the coordinator of the Ph.D. program in Finance. He holds a secondary appointment as a Professor of Economics at the University of Pennsylvania. He has been on the faculty of the Wharton School since 2004. Professor Goldstein earned his Ph.D. in Economics in 2001 from Tel Aviv University. He is an expert in the areas of corporate finance, financial institutions, and financial markets, focusing on financial fragility and crises and on the feedback effects between firms and financial markets. His research has been published in top academic journals, including the American Economic Review, the Journal of Finance, the Journal of Financial Economics, the Review of Economic Studies, and the Review of Financial Studies. His research has also been featured in the popular press in the Economist, Wall Street Journal, Financial Times, Bloomberg, Forbes, National Public Radio, and others. Professor Goldstein is the Executive Editor of the Review of Financial Studies, where he was an editor before for five years. He also served as an editor of the Finance Department in Management Science and an editor of the Journal of Financial Intermediation. He has served as an academic advisor at the Federal Reserve Banks of New York, Philadelphia, and Richmond, the Bank of Canada, and the Committee for Capital Markets Regulation. He was the co-founder and the first president of the Finance Theory Group. He is a director of the American Finance Association and the Western Finance Association and has been a director of the Financial Intermediation Research Society. He has taught various undergraduate, M.B.A., Ph.D., and executive education courses in finance and economics. Prior to joining Wharton, Professor Goldstein has served on the faculty of Duke University’s Fuqua School of Business. He had also worked in the research department of the bank of Israel.



Konstantin Milbradt Professor Milbradt's research interests are in financial economics, specifically in how financial frictions affect asset prices and corporate decisions. In his recent work, he theoretically investigates how coordination amongst investors makes some government bonds safe. Professor Milbradt holds a PhD from Princeton University and a BA from Oxford University (UK). Before joining Kellogg School of Management, he served as an Assistant Professor of Finance at the MIT Sloan School of Management.



Stephen Schaefer Professor has published widely on fixed income markets, risk management, credit risk and financial regulation. His research includes a study on corporate debt default in the US over the past 150 years, which was awarded first prize in the 2011 Fama/DFA Award for the Best Paper Published in the Journal of Financial Economics in the areas of capital markets and asset pricing. He also received the 2015 Jack Treynor Prize from the Q Group, which recognises academic working papers with potential applications in the fields of investment management and financial markets. Professor Schaefer was formerly a faculty member of the Graduate School of Business at Stanford University. He has also been a visiting professor at the Universities of British Columbia, California (Berkeley), Cape Town, Chicago and Venice, where he was recently awarded an Honorary Fellowship. Today, he is the lead Academic Director for the London Business School’s AQR Asset Management Institute. Outside academic life, he has consulted widely for a variety of financial institutions and is a co-author of two major reports for the Norwegian Ministry of Finance on the management of the Norwegian Government Pension Fund (the ‘Oil Fund’). He has also been an independent board member of the Securities and Futures Authority; a senior research advisor to Moody’s KMV; a non-executive director of Leo Fund Management; a trustee-director of Smith Breeden Mutual Funds and a member of Moody’s Academic Research and Advisory Committee.



Paul Schneider is professor for quantitative methods in the finance group at USI Lugano and holds a Swiss Finance Institute senior chair. He has done his PhD in finance in Vienna in 2006.  His research interests evolve around model-free asset pricing and methodology. Paul's research has been published in the Journal of Finance, the Journal of Financial Economics, the Review of Financial Studies, as well as the Journal of Econometrics and the Annals of Statistics

Daniel Streitz, is an assistant professor in the Department of Finance at Copenhagen Business School. His research focuses on financial intermediation and monetary policy and has been published in Review of Financial Studies, Journal of Financial Economics, and other journals. He received his PhD from Humboldt University of Berlin in 2015. Before joining Copenhagen Business School in 2017, Daniel worked as an economic consulting on antitrust cases.








Andrea Vedolin is an Associate Professor at Questrom School of Business, Boston University. She is also a Faculty Research Fellow at the National Bureau of Economic Research and a Research Affiliate of the Center of Economic Policy Research. Her research interests are in empirical and theoretical asset pricing. She received her PhD in Economics from the University of Lugano.


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