22nd BIS Annual Conference

Lesetja Kganyago
Governor
South African Reserve Bank

Lesetja Kganyago was appointed Governor of the SARB in November 2014. Previously, he was Deputy Governor from May 2011. Before joining the SARB, Kganyago was the Director-General of the National Treasury. He represented South Africa at international organisations such as the World Bank, the IMF, the G20 and the African Development Bank. He holds an MSc in Economics from SOAS University of London and a Bachelor of Commerce degree in Economics and Accounting from the University of South Africa as well as Doctor of Commerce degrees from Stellenbosch University and the Nelson Mandela University.

John H Cochrane
Rose-Marie and Jack Anderson Senior Fellow
Hoover Institution, Stanford University

John Cochrane's other affiliations include SIEPR, Stanford GSB, NBER and CATO. Previously, he was a professor at the University of Chicago Booth School of Business. His academic writing focuses on inflation, most recently in his book on The Fiscal Theory of the Price Level, asset pricing, macroeconomics, time-series econometrics, and other topics. He also writes op-eds and maintains the "Grumpy Economist" blog. Cochrane earned a bachelor's degree in physics at MIT, and a doctorate in economics at the University of California, Berkeley.

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Lucrezia Reichlin
Full Professor of Economics
London Business School

Professor Reichlin is a macroeconomist and econometrician. She has pioneered methods for the economic analysis of large dimensional data and now-casting. She was director general of research at the ECB from 2005 to 2008. Professor Reichlin is a Fellow of the British Academy and of the Econometric Society, a distinguished fellow of CEPR and she is honorary international fellow of the American Economic Association. She is a trustee of the International Financial Reporting Standard (IFRS) Foundation, and she has led the work of the Foundation for the establishment of the International Sustainability Standards Board. She is also an external fellow of Bruegel and a board member of several research institutions and of a few commercial companies.

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Pablo Andrés Neumeyer
Professor of Economics
Universidad Torcuato Di Tella

Pablo Andrés Neumeyer specialises in monetary economics and international finance, with a special interest in the credibility of government policies. He obtained his doctorate in economics from Columbia University, served as chief economist at Argentina's central bank, and has been a visiting professor at Stanford University, the University of Chicago and New York University. He is a fellow of the Econometric Society and a Guggenheim Fellow, has chaired the Latin American Chapter of the Econometric Society and has been a member of the executive board of Universidad Di Tella and the Global Development Network.

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Philip Lowe
Governor
Reserve Bank of Australia

Philip Lowe holds a PhD from the Massachusetts Institute of Technology and a BComm (Honours) in economics and econometrics from the University of New South Wales. He has authored numerous papers, including on the linkages between monetary policy and financial stability. He started as Governor in September 2016. He is Chair of the Reserve Bank Board and Payments System Board, and Chair of the Council of Financial Regulators. He is a member of the Financial Stability Board. Prior to his current role, he held the positions of Deputy Governor, Assistant Governor (Economic) and Assistant Governor (Financial System). He also spent two years at the Bank for International Settlements working on financial stability issues. He is Chair of the BIS-based Committee on the Global Financial System.

Wenxin Du
Professor of Finance
University of Chicago Booth School of Business

Wenxin Du is Professor of Finance at the University of Chicago Booth School of Business and a Financial Research Advisor at the Federal Reserve Bank of New York. She studies global currency and fixed income markets, central banking, financial regulations, and emerging market finance. She was the recipient of 2022 Award for Economics in Central Banking, and was named the Alfred P Sloan Foundation Research Fellow 2019–21. In addition, she has won several top academic awards for her research on deviations from covered interest rate parity, including the Amundi Pioneer First Prize and AQR Insight Award.

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Robin Greenwood
George Gund Professor of Finance and Banking and Anne and James F Rothenberg Faculty Fellow
Harvard Business School

At Harvard Business School, Robin Greenwood also serves as the Senior Associate Dean for Faculty Development and Research. His research is in behavioural and institutional finance, with a particular focus on macro-level market inefficiencies such as stock price bubbles and predictable financial crises. His research awards include the 2015 Brattle Group Distinguished Paper for an outstanding corporate finance paper published in the Journal of Finance. Greenwood received a PhD from Harvard in economics, and BS degrees in economics and mathematics from MIT.

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Dimitri Vayanos
Professor of Finance
London School of Economics and Political Science

At the London School of Economics, Dimitri Vayanos also directs the Financial Markets Group and the Paul Woolley Centre. He is a Fellow of the British Academy and the Finance Theory Group. His research focuses on what drives financial market liquidity, why asset prices can deviate from assets' fundamental values, and what the implications of imperfect financial markets are for asset management, financial regulation, monetary policy and the macroeconomy. He is a member of the Pissarides Committee, tasked by the Greek government to develop a growth plan for Greece, and a co-author of the European Safe Bonds proposal.

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Esther L George
Former President and CEO
Federal Reserve Bank of Kansas City

Esther George was president and chief executive officer of the Federal Reserve Bank of Kansas City and a member of the Federal Open Market Committee from 2011 to 2023. Her Fed service spans more than 40 years, including assignments and leadership roles in bank supervision and payment system modernisation. She hosted the Kansas City Fed's annual Jackson Hole Economic Policy Symposium. George currently serves as chair of the Ewing Marion Kauffman Foundation in Kansas City and is a member of the board of directors for the Peterson Institute for International Economics in Washington DC.

Chang Yong Rhee
Governor
Bank of Korea

Chang Yong Rhee is the Governor of the Bank of Korea and the Chairman of its Monetary Policy Board. Previously, he was Director of the Asia and Pacific Department at the IMF (2014–22), Chief Economist of the Asian Development Bank (2011–14), Secretary General and Sherpa of the Presidential Committee for the 2010 G20 Seoul Summit (2009–11), Vice Chairman of the Financial Services Commission (2008–09), Professor, Associate Professor and Assistant Professor of Economics at Seoul National University (1994–2008) and Assistant Professor at the University of Rochester (1989–94). He received a doctorate in economics from Harvard University in 1989.

Darrell Duffie
Adams Distinguished Professor of Management and Professor of Finance
Graduate School of Business, Stanford University

Darrell Duffie is also a research fellow of the National Bureau of Economic Research and a fellow of the American Academy of Arts and Sciences. He is a past president of the American Finance Association and chaired the Financial Stability Board's Market Participants Group on Reference Rate Reform. He is an independent director of the Dimensional Funds, Project Advisor of The G30 Working Group on Treasury Market Liquidity, and a co-director of the Hoover Institution's study of the global implications of China's central bank digital currency. Duffie's most recent book is Fragmenting Markets: Post-Crisis Bank Regulations and Financial Market Liquidity.

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Imène Rahmouni-Rousseau
Director General Market Operations
European Central Bank

Imène Rahmouni-Rousseau is in charge of implementing the single monetary policy for the euro area, together with the Eurosystem's national central banks. Her responsibilities include lending operations and collateral, asset purchase programmes and foreign exchange reserve management as well as market monitoring and intelligence. She also sits on the BIS Markets Committee and chairs the ECB Market Operations Committee and the Bond Market Contact Group. She was previously the Director of Markets at Bank of France and worked for five years at the BIS in Basel, where she led the Financial Stability Board's vulnerability analysis team. She holds a master's degree in economics and finance from the École Centrale Paris (1997) and from Sciences-Po (1998).

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Andrew Metrick
Janet L Yellen Professor of Finance and Management
Yale School of Management

Andrew Metrick is also the Director of the Yale Program on Financial Stability. He earned a PhD in economics from Harvard in 1994, and a BA in economics and mathematics from Yale in 1989. Prior to joining the Yale faculty in 2008, he held positions in the finance department at Wharton and the economics department at Harvard. In the academic year 2009–10, he was on leave at the Council of Economic Advisers in Washington. Upon returning to Yale, he served as the Deputy Dean of SOM from 2010 to 2016.

Cecilia Skingsley
Head of the BIS Innovation Hub
BIS Innovation Hub

Cecilia Skingsley became Head of the BIS Innovation Hub in September 2022. She is a member of the BIS's Executive Committee. Previously, she held the position of First Deputy Governor of Sveriges Riksbank from November 2019. She has chaired the BIS's Committee on Payments and Market Infrastructures Future of Payments Working Group. Prior to joining the Riksbank, she held various roles in the private sector. Skingsley holds a degree in economics and political science from Stockholm University. She received a financial analyst degree from SSE Executive Education at Stockholm School of Economics (formerly IFL at Stockholm School of Economics) and studied journalism at Poppius School of Journalism in Stockholm.

Hilary J Allen
Professor of Law and the Associate Dean for Scholarship
American University Washington College of Law

Hilary Allen is an internationally recognised expert on financial stability regulation and new financial technologies, and has been invited to advise the Federal Reserve, SEC, CFTC, IMF, IOSCO, G20 and the Financial Stability Board, among others. She has testified before the US House Financial Services and Senate Banking Committees, and is the author of Driverless Finance: Fintech's Impact on Financial Stability. Professor Allen received her Bachelor of Laws from the University of Sydney, Australia, and her Master of Laws in Securities and Financial Regulation from Georgetown University Law Center.

Markus K Brunnermeier
Edwards S Sanford Professor of Economics and Director of Bendheim Center for Finance
Princeton University

Markus Brunnermeier's research focuses on international financial markets, monetary theory, and macroeconomics with special emphasis on bubbles, liquidity, financial crises and digital money. He gained his PhD at the London School of Economics (LSE) and a Doctor honoris causa from the University of Regensburg. His books include The Resilient Society and The Euro and the Battle of Ideas. He has worked on liquidity spirals, financial dominance, CoVaR as a measure of systemic risk, the volatility paradox, the paradox of prudence, resilience, European Safe Bonds, redistributive monetary policy, the reversal rate and digital currency.

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Jón Daníelsson
Director of the Systemic Risk Centre
London School of Economics and Political Science

Since receiving his PhD in the economics of financial markets, Jón Daníelsson's work has focused on how economic policy can lead to prosperity or disaster. He is an authority on both the technical aspects of risk forecasting and the optimal policies that governments and regulators should pursue. Jón has written three books: The Illusion of Control, Financial Risk Forecasting and Global Financial Systems: Stability and Risk. He has also contributed numerous academic papers on systemic risk, artificial intelligence, financial risk forecasting, financial regulation and related topics to leading academic journals.

Fabio Panetta
Member of the Executive Board
European Central Bank

Fabio Panetta has been a member of the ECB's Executive Board since January 2020. He is responsible for international and European relations, market infrastructure, payments and banknotes. He also chairs the Eurosystem high-level task force on a digital euro. Prior to joining the ECB, Mr Panetta was Senior Deputy Governor of the Bank of Italy and President of the Italian Insurance Supervisory Authority (Ivass). He has served as a board member of the Bank for International Settlements. Mr Panetta holds a PhD in Economics and Finance from the London Business School. He has authored papers published in journals such as the American Economic Review and the Journal of Finance.

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Agustín Carstens
General Manager
Bank for International Settlements 

Mr Carstens was Governor of the Bank of Mexico from 2010 to 2017. A member of the BIS Board from 2011 to 2017, he was chair of the Global Economy Meeting and the Economic Consultative Committee from 2013 until 2017. He also chaired the International Monetary and Financial Committee, the IMF's policy advisory committee, from 2015 to 2017. Mr Carstens began his career in 1980 at the Bank of Mexico. From 1999 to 2000, he was Executive Director at the IMF. He later served as Mexico's deputy finance minister (2000–03) and as Deputy Managing Director at the IMF (2003–06). He was Mexico's finance minister from 2006 to 2009. Mr Carstens has been a member of the Financial Stability Board since 2010. Mr Carstens holds an MA and a PhD in economics from the University of Chicago.

^{Photo credit: Nils Stian Aasheim}

Ida Wolden Bache
Governor and Chair of the Executive Board
Central Bank of Norway

Appointed Governor of the Central Bank of Norway from April 2022 to 2028, Ida Wolden Bache is Chair of the Executive Board and the Monetary Policy and Financial Stability Committee. Her work experience includes posts as Deputy Governor, Executive Director of Norges Bank Monetary Policy and Norges Bank Financial Stability. She has also been a macroeconomist at Handelsbanken Capital Markets. She was a member of the Systemic Risk Council in Denmark in 2017–22. She holds a doctorate in economics from the University of Oslo and an MSc in economics from the London School of Economics.

Shaktikanta Das
Governor
Reserve Bank of India

Governor Das has a unique combination of experience in policy formulation and implementation in over 42 years of service as a career civil servant. He has acted as India's G20 Sherpa and Member on the Fifteenth Finance Commission. He has also served as Secretary, Economic Affairs and as Revenue Secretary for the Government of India. He has represented India in various international forums such as the IMF, World Bank, G20, BRICS, ADB, NDB, AIIB and SAARC. Governor Das has spearheaded a series of measures by the RBI to deliver price stability while maintaining financial stability and safeguarding growth in India. Central Banking magazine recently named him as "Central Bank Governor of the Year 2023".

Tiff Macklem
Governor
Bank of Canada

Tiff Macklem was appointed Governor of the Bank of Canada in June 2020 for a seven-year term. He first joined the Bank of Canada in 1984 and held various senior positions including Chief of Research and Advisor to the Governor. He was appointed a Deputy Governor in 2004 and Senior Deputy Governor in 2010. During the Great Financial Crisis, Macklem was Associate Deputy Minister at the Department of Finance, and represented Canada at the G7, G20 and Financial Stability Board. From 2014 until his appointment as Governor, he was the Dean of the Rotman School of Management at the University of Toronto.

^{Photo credit: Bryce Vickmark}

Daron Acemoğlu
Institute Professor
Massachusetts Institute of Technology

Daron Acemoğlu is Institute Professor at MIT, and a fellow of the National Academy of Sciences, British Academy of Sciences, American Philosophical Society, American Academy of Arts and Sciences. He is also the author of the New York Times bestseller Why Nations Fail (with James Robinson), The Narrow Corridor (with James Robinson) and Power and Progress: Our Thousand-Year Struggle over Technology and Prosperity (with Simon Johnson). He holds honorary doctorates from the University of Utrecht, Bosporus University, University of Athens, Bilkent University, University of Bath, École Normale Supérieure, Sacaly Paris, and London Business School.

♦ Book: "Power and progress: Our 1000-year struggle over technology and prosperity"

♦ Presentation