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Financial Stability Oversight Council (FSOC) Hosts Public Conference on Asset Management on Monday, May 19





WASHINGTON – As previously announced, in order to help inform the ongoing assessment by the Financial Stability Oversight Council (Council) of risks to U.S. financial stability, the Council will host a conference on the asset management industry and its activities on May 19, 2014.  The Council welcomes the opportunity to hear directly from the industry and other stakeholders on topics related to investment risk management, potential risks across the broader financial system, and operational issues and resolvability.  Each panel discussion will be moderated by a senior official of a Council member agency.



12:45pm – 1:00pm:   Introductory Remarks

Mary Miller, Under Secretary for Domestic Finance, U.S. Department of the Treasury


1:00pm – 1:30pm:     Overview of the Asset Management Industry

Norm Champ, Director, Division of Investment Management, Securities and Exchange Commission


1:30pm – 2:45pm:     Investment Risk Management by Asset Management Firms

Moderator: John Worth, Chief Economist, National Credit Union Administration


·         Kent Daniel, Professor of Finance, Columbia Business School

·         William De Leon, Global Head of Portfolio Risk Management, PIMCO

·         Itay Goldstein, Joel S. Ehrenkranz Family Professor, Professor of Finance, The Wharton School of the University of Pennsylvania

·         Michael Mendelson, Portfolio Manager, Risk Parity Strategies, AQR

·         John Rogers, President and CEO, CFA Institute; Member, Systemic Risk Council


2:45pm – 3:00pm:     Break


3:00pm – 4:15pm:     Asset Management and Risks Across the Broader Financial System

Moderator: Nellie Liang, Director, Office of Financial Stability Policy and Research, Board of Governors of the Federal Reserve System


·         Sarah Breeden, Head of Market Sectors and Interlinkages Division, Financial Stability, Bank of England

·         Ken Griffin, CEO, Citadel

·         Barbara Novick, Vice Chairman, BlackRock

·         David Scharfstein, Edmund Cogswell Converse Professor of Finance and Banking, Harvard Business School

·         Kim Schoenholtz, Professor of Management Practice, New York University Stern School of Business


4:15pm – 4:30pm:     Break


4:30pm – 5:45pm:     Operational Issues and Resolvability

Moderator: Lawranne Stewart, Senior Counsel, Commodity Futures Trading Commission


·         John Gidman, Chief Information Officer, Loomis, Sayles & Company

·         Alan Greene, Executive Vice President, U.S. Investor Services, State Street Corporation

·         Andrew Metrick, Deputy Dean & Michael H. Jordan Professor of Finance and Management, Yale School of Management

·         Philip Prince, Treasurer, Pine River Capital

·         Peter Stahl, Associate General Counsel, Fidelity Investments


5:45pm – 6:00pm:     Closing Remarks

Mary Miller, Under Secretary for Domestic Finance, U.S. Department of the Treasury


Monday, May 19, 2014

12:30 PM EDT


U.S. Department of the Treasury

Cash Room

1500 Pennsylvania Avenue, NW

Washington, D.C.


This event is open to the press. A live webcast of the event will be available at


Media without Treasury press credentials planning to attend must email Stephanie Ma at with the following information: full legal name, Social Security number, date of birth, and country of citizenship.  The deadline to RSVP is THURSDAY, May 15 at 12:00 PM.  Due to space constraints, please await confirmation of your RSVP before making travel arrangements.


Media attending with camera equipment must arrive at the South Entrance (on 15th Street and Alexander Hamilton Place) at 11:00 AM to allow time for equipment sweeps and set-up. No vehicles will be permitted onto Treasury grounds; equipment must be carried in. All other media should arrive by 12:15 p.m. at the North entrance (Pennsylvania Avenue and 15th Street).




Last Updated: 5/13/2014 11:59 AM