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The Program for Financial Studies Executive Advisory Board is an assembly of leaders in the financial community who come together twice a year to review activities and consider new opportunities to enhance the program. Working closely with faculty members, the executive board helps shape the direction of the program by providing recommendations to the director and the dean on current and potential initiatives intended to promote idea sharing in the field of financial studies, and to connect the School’s world-class faculty members with external audiences.
The aim of the executive board is to ensure that the program delivers relevant and forward-thinking content to all of the constituents it serves: students, faculty members, alumni, and industry practitioners. Executive board members are invited to join based on expertise and willingness to become actively engaged with the program.
Executive Board Members
Juliana Baiardi '01, Head, Logistics/Ports, Odebrecht TransPort, Odebrecht Group
Maliz Beams ’85, CEO, ING Retirement, ING
Jim Brett ’90, Managing Partner, JTB Capital Partners LLC
Candace Browning ’79, Head, Global Research, Bank of America Merrill Lynch
Jacques Chappuis ’98*, Managing Director and Head of Carlyle Solutions, The Carlyle Group
Amir R. Emami ’05, Managing Director, SGS Asset Management, LP
Gabriella Fitzgerald ’98, Vice President, Strategy and Business Development, American Express
Nicholas Galluccio ’78, President and CEO, Teton Advisors, Inc.
Laurie Girsky ’87, Principal, G-Squared Advisory LLC
Douglas R. Jamieson ’82, President and Chief Operating Officer, GAMCO Investors, Inc.
Jeffrey L. Kaplan, Chief Operating Officer, Appaloosa Management LP
Christian Mariager ’88, CEO, Tiger Stores and Senior Partner Emeritus, McKinsey & Company
John J. Moon, Managing Director, Morgan Stanley Private Equity, and Adjunct Professor of Finance, Columbia Business School
Patricia Moraes ’95, Head, Investment Banking, Brazil, J.P. Morgan
Prem Parameswaran ’95, Managing Director, Investment Banking, Jefferies & Company, Inc.
Evan Picoult ’85, Managing Director, Citigroup, and Adjunct Professor of Decision, Risk and Operations, Columbia Business School
John M. Shapiro ’78*, Managing Director, Chieftain Capital Management, Inc.
Carol Simmons ’72*, President, Simmons Company
Tracey Travis ’86*, Executive Vice President and Chief Financial Officer, The Estée Lauder Companies Inc.
Thomas Vandever ’98, Head of FIG M&A (Americas), Barclays
Cindy Brower Wagner ’93, Managing Director, Securities Division, Goldman, Sachs & Co. (Retired)
David Zalaznick ’78*, Founding and Managing Principal, The Jordan Company, and Member, Columbia Business School’s Board of Overseers
*Executive Board Member, emeritus
Mrs. Baiardi joined Odebrecht Transport in 2011 as Head of Logistics/Ports. Before joining Odebrecht Transport, Mrs. Baiardi worked at J.P. Morgan Chase for 10 years in the Investment Banking Coverage, Latin America M&A and Private Equity departments. Mrs. Baiardi also worked at Dresdner Bank in Brazil in the Project Finance Group between 1997-1999.
Mrs. Baiardi received an MBA from Columbia Business School and a BS in Civil Engineering from Universidade Federal da Bahia, Brazil.
Ms. Beams joined ING in 2011 as CEO of ING US Retirement. Prior to her current role, she served as President and CEO of TIAA-CREF’s Individual and Institutional Services Llc. Ms. Beams has also held executive leadership roles at Zurich Scudder Investments, Fleet Financial, American Express, and Citibank. She is a Board Member of Employee Benefits Retirement Institute, Member of the CEO Task Force for Retirement Services ACLI, Board Member of New England Aquarium, and Overseer Mount Auburn Hospital, a teaching hospital of Harvard University. Named one of the top 10 most influential women in Financial Services 2 years by US Banker. Listed Who's Who of American Women.
Ms. Beams received an MBA in Marketing and Finance from Columbia Business School and a BA in English from Boston College.
Mr. Brett is Managing Partner of JTB Capital Partners LLC. Prior to his current role, he was a Managing Director with J.P. Morgan, where he headed the Global Cash Equities Business with regional responsibility for the Americas Equity Business at J.P. Morgan.
Mr. Brett received an MBA from Columbia Business School and a BA in economics from Columbia College.
Ms. Browning is head of BofA Merrill Lynch Global Research, which has over 1,000 employees located across 20 countries. Her team provides economic forecasts for nearly 60 countries as well as investment recommendations and analyses on approximately 40 currencies, 19 commodities, 3,300 stocks and 1,000 credits. Most recently the group was named Top Global Research firm of 2011 by Institutional Investor. Ms. Browning joined Merrill Lynch in 1990 as a US airline analyst, ranking in Institutional Investor's all-star analyst survey 17 consecutive years. She is a member of the St. Paul’s School Board of Trustees and has been named for the last three years by American Banker as one of the Top 25 Most Powerful Women in Finance.
Ms. Browning received an MBA from Columbia Business School and a BA in history from Brandeis University.
Mr. Chappuis is a managing director, Head of Carlyle Solutions, and serves on The Carlyle Group’s Management Committee. He is also Chairman of AlpInvest Partners, a board member of Diversified Global Asset Management Corporation (DGAM), and Chairman of the Carlyle Solutions Tactical Investment Committee. Prior to his current role, Mr. Chappuis spent seven years at Morgan Stanley. From 2009-2013, he led Morgan Stanley Alternative Investment Partners (AIP), the firm’s hedge fund, private equity, and real estate fund of funds and Solutions business, and from 2006 to 2009 he was Head of Alternative Investments for Morgan Stanley’s Global Wealth Management division. Mr. Chappuis was previously a Managing Director at Citigroup Alternative Investments where he held various leadership roles. Before entering the asset management industry, Mr. Chappuis worked as a strategy consultant at the Boston Consulting Group and in corporate finance at Bankers Trust.
Mr. Chappuis received an MBA from Columbia Business School and a BSM in finance from Tulane University.
Mr. Emami is based in Hong Kong as a managing director of SGS Asset Management. Prior to entering the investment management field, he worked as an investment banker in the mergers and acquisitions group of Credit Suisse First Boston’s New York office.
Mr. Emami received an MBA from Columbia Business School and an AB, cum laude, in Economics from the University of Chicago. He is a member of the Beta Gamma Sigma and Phi Eta Sigma National Honor Societies.
Ms. Fitzgerald joined American Express in 1998 and is Vice President in the Global Merchant Services division, where she focuses on strategy and M&A for the division. Prior to her current role, Ms. Fitzgerald has held a variety of positions within American Express including Vice President of Investor Relations, Director of Corporate Card Marketing, and Director of Investments and Business Development. She led Columbia Business School recruiting for American Express from 2004 – 2007 and remains highly engaged with the Columbia Women in Business organization.
Ms. Fitzgerald received an MBA in General Management from Columbia Business School and a BA in Area Studies from Duke University.
Portfolio manager of the GAMCO Westwood SmallCap Equity Fund, Mr. Galluccio joined Teton Advisors, Inc. in 2008, after serving at Trust Company of the West (TCW) as the group managing director, U.S. Equities, and senior portfolio manager for $4.5 billion in assets in the TCW Small Cap Value Added Funds and TCW Mid Cap Value Opportunities Funds. Mr. Galluccio’s career with TCW spans over a quarter of a century, having joined TCW in 1982 from Lehman Brothers Kuhn Loeb where he was a security analyst following the semiconductor industry.
Mr. Galluccio received an MBA from Columbia Business School, an MA from Columbia University, and a BA from University of Hartford. He serves on the Board of Regents at the University of Hartford, where he chairs the investment committee.
Ms. Girsky co-founded G-Squared Advisory LLC in 2009. G-Squared Advisory is a Financial Planning Firm specializing in serving women. Ms. Girsky worked for PaineWebber as a senior vice-president in the institutional equity sales division. Subsequently she worked for several years at Merrill Lynch and PaineWebber in the retail divisions. Currently, Ms. Girsky serves on the board of UJA-Federation of New York, the Mamaroneck Public Library and the Pace Women's Justice Center.
Ms. Girsky received an MBA in Finance from Columbia Business School and a BA, cum laude, in Economics from Cornell University, where she was a member of Phi Beta Kappa. Ms. Girsky also holds a certificate in financial planning from New York University and is a candidate for CFP certification.
Mr. Jamieson has served as President and Chief Operating Officer of GAMCO Investors since August 2004. He has also served as President or Chief Operating Officer of GAMCO Asset Management Inc. (a wholly-owned subsidiary of the Company) since 1986 and as director of GAMCO Asset Management Inc. since 1991. In addition, Mr. Jamieson serves as President and a director of Gabelli Securities, Inc. (a majority-owned subsidiary of the Company), as director of GAMCO Asset Management (UK) Ltd. (a wholly-owned subsidiary of the Company), and as a director of several Investment Partnerships that are managed by Gabelli Securities, Inc. He was a securities analyst with Gabelli & Company, Inc. from 1981 to 1986.
Mr. Jamieson received an MBA in Finance and Accounting from Columbia Business School and a BA in Economics and International Relations from Bucknell University.
Mr. Kaplan joined Appaloosa in 2011 as Chief Operating Officer. Prior to his current role, he spent 24 years in M&A and leveraged finance, joining Merrrill Lynch in 1987. Until joining Appaloosa, he was Global Head of Mergers and Acquisitions and Corporate Finance at Bank of America Merrill Lynch. Prior to this appointment he was a managing director and Global Head of Financial Sponsors at Merrill Lynch & Co. In addition, Mr. Kaplan was Executive Vice President of MacAndrews & Forbes from 1992–1996.
Mr. Kaplan received a BS–MBA in Accounting and Finance from New York University and was an Applied Mathematics major at Brown University.
Mr. Mariager joined Tiger Stores in 2013 as chief executive officer. Mr. Mariager is also a senior partner emeritus with McKinsey & Co. where he led the firm’s Global Consumer Strategy Practice — a role he took on in 2006. He previously served a broad range of McKinsey’s global consumer clients from assignments in Japan, Copenhagen, and New York.
Mr. Mariager received an MBA from Columbia Business School and a BS from the Copenhagen School of Economics.
Mr. Moon initially joined Morgan Stanley Private Equity in 1998 and was promoted to managing director of Morgan Stanley in 2002. Prior to rejoining Morgan Stanley in 2008, Mr. Moon was a managing director of Riverstone Holdings LLC where he served on the Investment Committees of the Carlyle/Riverstone Global Energy & Power Funds III and IV. Prior to joining Riverstone, Mr. Moon was a founding partner and managing director of Metalmark Capital LLC. He is a former member of the Investment Committees of Morgan Stanley Capital Partners III and Morgan Stanley Capital Partners IV and Metalmark Capital Partners I. Mr. Moon served on the Board of Directors of the following Morgan Stanley Capital Partners portfolio companies: Aventine Renewable Energy, Cantera Resources, Canyon Gas Resources, Concert Capital Resources, Triana Energy/Columbia Natural Resources, and Union Drilling. He currently serves as a director of Triana Energy Investments and Trinity CO2, both Morgan Stanley Capital Partners V portfolio companies. Prior to joining Morgan Stanley in 1998, Mr. Moon was a vice president in the Investment Banking Division of Goldman Sachs in New York.
Mr. Moon teaches "Advanced Corporate Finance," which applies corporate financial theory to cases of financial policy, financial instruments, and valuation.
Mr. Moon received an AB, magna cum laude, from Harvard College. He also received an AM and PhD in Business Economics from Harvard University.
Mrs. Moraes joined J.P. Morgan in 1995 and is currently head of investment banking coverage in Brazil.
Mrs. Moraes’s career has been focused in strategic advisory and capital raising for Brazilian clients in the local and in the international markets. She has been involved in the origination and execution of several transactions and has experience in cross border acquisitions, divestitures, and partnerships globally.
Mrs. Moraes received her MBA from Columbia Business School and an undergraduate degree in Economics from the Pontificia Universidade Católica in Rio de Janeiro, Brazil.
Mr. Parameswaran is the managing director of investment banking at Jefferies & Company, Inc. Prior to joining Jefferies, he was a managing director and Americas head of telecom in the Global Telecommunications and Media Group in the Investment Banking Division at Deutsche Bank and was with Goldman Sachs where he was a vice president and head of the integrated communications provider sector in the Investment Banking Division. Mr. Parameswaran has now been advising clients in the global telecommunications and media sector for over 18 years including mergers and acquisitions, privatizations, and public and private equity and debt financings. He has executed more than 140 transactions and has played a leading role in selected assignments for AT&T, SBC Communications, Reliance Globalcom, Clearwire, RCN, Vonage, Cbeyond, Paetec, Time Warner Telecom, NuVox, Grande, KPNQwest, US Lec, McLeod USA, Qwest, Global Crossing, NTT, Level 3, Frontier, Sabre, and others. In addition, he recently advised John Henry, Tom Werner, and Larry Lucchino in their acquisition of the Boston Red Sox. Prior to investment banking, he played a season of professional ice hockey in Europe.
Mr. Parameswaran received an MBA with Honors from Columbia Business School and a BA from Columbia University. He sits on the Board of the Columbia University Alumni Trustee Nominating Committee and has also established the Prem Parameswaran Family Scholarship at Columbia Business School.
Mr. Picoult initially joined Citibank in 1980 and has worked within Citi's Risk Architecture Department since 1988. Mr. Picoult has served as the North American chair of ISDA's (the International Swap and Derivative Association) Risk Management Committee since the mid-1990s; he is on the Board of Advisors of the IAFE, (the International Association of Financial Engineers) and co- chair of the IAFE's Credit Risk Committee, and he was on the Board of Directors of the IACPM (the International Association of Credit Portfolio Managers) until 2008.
Mr. Picoult teaches Risk Management, which focuses on the measurement, management, and mitigation of market, credit, and liquidity risk and the interaction of these three forms of financial risk.
Mr. Picoult received an MBA from Columbia Business School, a PhD in physics from Columbia University, and a BS from New York University.
Mr. Shapiro co-founded Chieftain Capital Management in 1984. Previously, he worked at Central National Corporation and Merrill Lynch & Co. Mr. Shapiro serves as Chairman of the Board of Lawyers for Children, is a member of the Board and Executive Committee of The American Jewish Committee and The American Academy in Rome, a Trustee of The Washington Institute for Near East Policy, a member of The Committee on Prints and Illustrated Books for The Museum of Modern Art, and a member of the Campaign Council for Wesleyan University. He previously served as President of the UJA-Federation of New York, and as President of The Dalton School in New York City. Also, he has been a Board Member of The Classic Sports Network and The Children’s Museum of New York.
Mr. Shapiro received an MBA from Columbia Business School and a BA from Wesleyan University.
Ms. Simmons founded the Simmons Company in 1980, her own investment banking firm with a specialized capability in project and lease finance. Previously, she was a vice president at Thayer, Ringoen & MacDonald and a vice president in the Investment Banking Division of Salomon Brothers. Ms. Simmons currently serves as Chairman of the Board of Trustees for the Town of Palm Beach Firefighters Retirement System. She previously served as Treasurer of the Board of Directors for the Home Mortgage Authority of Jefferson Parish, Louisiana, as a member of the Advisory Panel for the Housing Subcommittee of the Louisiana State Bond Commission, and as President of the Board of the Columbia Business School Alumni Association. She also served as an Executive in Residence and member of the faculty at Columbia Business School.
Ms. Simmons received an MBA in Finance and Marketing from Columbia Business School and a BA in English from Manhattanville College. She is a member of the Beta Gamma Sigma Honor Society.
Ms. Travis joined The Estée Lauder Companies Inc. in 2012, one of the world's leading manufacturers and marketers of quality skin care, makeup, fragrance and hair care products, as Executive Vice President and Chief Financial Officer. Ms. Travis is a member of several of the Company’s senior management leadership groups, including the Executive Leadership Team, Program Management Team, Investment Development Committee, Fiduciary Investment Committee and Corporate Risk Management Committee. Prior to joining Estée Lauder, Ms. Travis served as the Senior Vice President and Chief Financial Officer of Ralph Lauren Corporation, which she joined in 2005. She was Senior Vice President, Finance and Chief Financial Officer of Intimate Brands for Limited Brands, Inc. from 2001 to 2004. She also spent a decade at PepsiCo Inc. and the Pepsi Bottling Group, where she held operations management and finance roles. Ms. Travis began her career as an engineer and a senior financial analyst at General Motors Co.
Ms. Travis served on the board of Jo-Ann Stores Inc (JAS) for 8 years, and chaired the JAS Audit Committee for 4 years. She is a member of the Board of Directors of Campbell Soup Company, a Trustee on the Board of the University of Pittsburgh, and sits on the boards of the Lincoln Center Theater and the Women’s Forum of New York.
Ms. Travis received an MBA in Finance and Operations Management from Columbia University and a BS in Industrial Engineering from the University of Pittsburgh.
Mr. Vandever joined Barclays as Head of FIG M&A (Americas) in 2014. Prior to Barclays, he was a managing director in investment banking at Goldman Sachs & Co., where he was responsible for investment banking coverage of insurance companies and other financial institutions at Goldman Sachs. His clients included many of the largest US life insurance companies, US and Bermuda property/casualty insurance companies, and other insurance industry participants. Mr. Vandever has worked on approximately 75 announced transactions spanning advisory, public securities offerings, private equity, principal investing, structured finance, capital management, and derivative transactions. Prior to joining Goldman Sachs, he worked in various roles at Merrill Lynch, PMA Capital, and Deloitte & Touche, where he was a certified public accountant.
Mr. Vandever received an MBA from Columbia Business School and a BA from the University of Pennsylvania.
Ms. Wagner worked at Goldman Sachs for 19 years as a managing director in the securities division. She was in high yield and bank loan sales from 1993 to 2012. Ms. Wagner was the high yield sales manager from 2004 to 2006 and the head of Columbia Business School recruiting for FICC sales and trading. Prior to joining Goldman, she worked as an analyst in mergers and acquisitions at Kidder Peabody from 1990 to 1991 and as a trader in risk arbitrage at Dillon Read from 1988 to 1990. Ms. Wagner retired from Goldman in March 2012 to train for and compete in the Ironman World Championship race in Kona, Hawaii.
Ms. Wagner received an MBA in Finance and Marketing from Columbia Business School and a BA in Economics from the College of the Holy Cross.
Mr. Zalaznick is a founding and managing principal of the Jordan Company LP, a New York private equity firm, which he started in 1982 with partner Jay Jordan. During the course of his career, he and his partners have been involved in more than 250 acquisitions. Mr. Zalaznick is also Chairman of Jordan/Zalaznick Advisers, Inc. and JZ International LLC, an investment firm based in London. He sits on the boards of directors of Cequel Communications, LLC, TAL International Group, Inc., Sensus Metering Systems, Inc., Freedom Finance Holdings Limited, Previnet SpA, Jordan Industries, Inc., and Wound Care Solutions, LLC. In addition, he serves on many of the boards of the private companies in which he and his partners have investments. He is also the investment advisor to JZ Equity Partners plc, a London-based investment trust dedicated to investing in mezzanine and equity securities. Prior to founding the Jordan Company LP, Mr. Zalaznick pursued a career as an investment banker with Merrill Lynch before joining Carl Marks & Co., where he became a vice president and Partner in the Carl Marks leveraged buyout group.
Mr. Zalaznick received an MBA from Columbia Business School and a BA in economics from Cornell University. Mr. Zalaznick is a vice chairman of Cornell University’s board of trustees where he serves on the executive committee and is Chairman of the finance committee.
*Executive Board Member, emeritus
2014-2015 No Free Lunch Seminar Series
Larry Glosten, S. Sloan Colt Professor of Banking and International Finance, presents Are Markets Rigged?
2014 Financial Studies Conference
Videos and photos from our 2014 conference: "The Quest for Yield."
Columbia Business School
Uris Hall 809, 3022 Broadway
New York, NY 10027
January 28, 2015The Program for Financial Studies' No Free Lunch Seminar Series was a great success in 2014! Watch the two most viewed videos: Neng Wang's Valuing Private Equity and Emi Nakamura's Is China Slowing?
December 17, 2014"Capital Structure in Major Corporations" video and photographs, featuring Martin Schroeter, CFO of IBM, and Professor Laurie Simon Hodrick, are now available
December 16, 2014The Fourth Annual Program for Financial Studies Conference was a great success. Videos and photographs of the event are now available
November 20, 2014The No Free Lunch November 18 recordings are now available
July 8, 2014If the recent New York Times article sparked your interest in James Gorman, watch this video of his keynote at our conference
January 16, 2013The No Free Lunch Seminar Series has been heralded as a best practice by BizEd magazine
In the News
January 29, 2015Executive Advisory Board Member Candace Browning comments on the economy on oilbarrel.com
January 26, 2014Professor Mark Broadie discusses putting measurement on Golf.com
January 23, 2015Professor Charles Jones’ research on financial markets is cited by Forbes.com>
January 22, 2015Professor Suresh Sundaresan presented on Indian Banks at the South Asia Institute at Columbia University>
January 21, 2015Executive Advisory Board Member Candace Browning forecasts the market in the LA Times
December 15, 2014Professor Charles Calomiris' lecture at Georgetown University – School of Foreign Service in Qatar is featured by the Qatar Foundation
December 9, 2014Executive Advisory Board Member Patricia Moraes spoke at the Brazil Opportunities Conference in Sao Paulo, Brazil on December 2-4
November 19, 2014Professor Andrew Ang was the featured speaker at the CFA Society Toronto on November 5
October 31, 2014Professor Charles Calomiris discusses the outlook of the Federal Reserve on Bloomberg Businessweek
October 20, 2014Executive Advisory Board Member Nicholas Galluccio comments on the banking sector on CNBC
October 16, 2014Professor Martin Oehmke discusses credit default swaps in Columbia Ideas at Work
October 14, 2014Professor Mark Broadie is mentioned in Golf Analytics
October 13, 2014Executive Advisory Board Member Candace Browning discusses women's leadership in Young or Mature. BofA Empowers Women
October 8, 2014Professor Andrew Ang's pension research is cited in Chief Investment Officer
October 6, 2014Executive Advisory Board Member Christian Mariager will be the keynote speaker at the 2014 CBS MBA Alumni Society Anniversary in Frederiksburg, Denmark on November 1
October 1, 2014Professor Paul Glasserman will present Carnegie Mellon's 7th Nash Distinguished Lecture in Quantitative Finance in Pittsburgh, PA on October 6