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Michael Hershman, President and CEO, The Fairfax Group
Michael Hershman is an internationally recognized expert on matters relating to transparency, accountability and governance. The Fairfax Group, which he founded in 1983, has been retained by governments, corporations, law firms, and international financial institutions to assist on matters related to the conduct of senior-level officials and/or the entities with which they do business. He is particularly well known for providing advice to corporate boards, executives and governments who find themselves in the midst of ethical dilemmas.
Mr. Hershman began his career in intelligence and investigations in Europe during the late 1960s as a special agent with U.S. Military Intelligence, specializing in counter-terrorism. After leaving the military, he moved to investigations of government misconduct and financial fraud for the New York State Attorney General's Office and the Office of the Mayor of New York City. Later, Mr. Hershman served as a senior staff investigator for the Senate Watergate Committee, and as chief investigator for a joint Presidential and Congressional commission, reviewing state and federal laws on wiretapping and electronic surveillance.
Immediately prior to founding the Fairfax Group, Mr. Hershman served as Deputy Auditor General for the Foreign Assistance Program of the U.S. Agency for International Development (USAID), where he led investigations and audits of major U.S. funded projects overseas, and was responsible for worldwide security at all foreign AID missions. Mr. Hershman was awarded the Superior Honor Medal for his service at USAID.
Mr. Hershman has devoted much of his professional career to nonprofit activities. In 1993, Mr. Hershman co-founded Transparency International, the largest independent, not-for-profit coalition promoting transparency and accountability in business and in government. For the past 14 years, he has been a member of the Board of the International Anti- Corruption Conference Committee. In 2012, following a number of high profile scandals, Michael Hershman was appointed to the Independent Governance Committee for the Federation Internationale de Football Association (FIFA). Mr. Hershman is a member of the Board of rectors of the U.S. Chamber of Commerce Foundation, and advises the Chamber on corporate compliance issues. Since 2007, Mr. Hershman has also been a member of the Board of Directors and the Executive Committee of the Center for International Private Enterprise.
Each year from 2008 to 2012 he has been named to the Ethisphere Institute’s list of the top 100 most influential people in business ethics worldwide.
Research Insights on Leadership and Ethics
Assistant Professor of Finance and Economics
"Banks in India...the accounts are not well used...This may be because they have to walk the 3km to the bank; or it may be due to other obstacles, such as procrastination.”
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Jack R. Anderson Professor of Business
"The industry has developed general principles on which portfolio risk should be decomposed but actually determining the risk contributions can be difficult in complex portfolios.”
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Senior Vice Dean and Paul Calello Professor of Leadership and Ethics
"Those in a homogeneous group put much less effort into the task at hand in part because they were more interested in avoiding conflict. Diverse environments allowed people to focus on the task instead of their social relationship."
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Professor of Finance
“What makes countries rich is how productively they use their resources…Once a (more productive) technology is introduced, do people use it? Why aren’t people using the most improved technologies to begin with?”