Financial Research Advisory Committee

Committee members (November 2022)

Chairman – Randall S. Kroszner is the Norman R. Bobins Professor of Economics at the University of Chicago's Booth School of Business. From 2006 to 2009, he served as a Governor of the U.S. Federal Reserve System. He chaired the Federal Reserve's committees on Supervision and Regulation and Consumer and Community Affairs. In these capacities, he led in developing responses to the financial crisis and undertaking new initiatives to improve consumer protection and disclosure for credit cards and mortgages. He represented the Federal Reserve on the Financial Stability Board and the Basel Committee on Banking Supervision and chaired the Organization for Economic Cooperation and Development's working party of deputy central bank governors and deputy finance ministers on international macroeconomic policy. From 2001 to 2003, he served in the White House as a member of the President's Council of Economic Advisers. He currently serves as a Chicago Fed’s Academic Advisory Council member.

Vice Chair - Tamala Longaberger serves as the Chief of Staff, in the Office of the CEO at Swiftarc Ventures, a venture capital firm focused on investing in Digital Health technology, and Female Founders, and Underrepresented Founders. Ms. Longaberger is the former chief executive of a privately held, family company, the Longaberger Company, which specialized in handmade baskets and other home goods. The family sold the company in 2013. Today, she continues to serve as President and Member of the Board of the Longaberger Family Foundation. She serves as a Board member of the International Republican Institute (IRI), a Washington, D.C.-based organization dedicated to advancing freedom and democracy worldwide and serves as an International Election Observer. She also serves IronNet Cyber Security in a business advisory role. In 2003, she served as a US delegate to the Human Rights Commission. She was appointed by President George W Bush as the Chair of the National Women’s Business Council and served on the Board of the Woodrow Wilson International Center for Scholars. Ms. Longaberger earned a Bachelor of Science degree in Business Administration from Ohio State University and is the former Chair of the Ohio State University Board of Trustees.

Lawrence Goodman is founder and president of the Center for Financial Stability, a nonpartisan think tank with business lines spanning the future of finance, data and analytics, policy, and technology. He is an economist with expertise in global macro investment strategies, financial crises, and sovereign debt restructuring. He has advised hedge funds and governments and led research teams on Wall Street and at the U.S. Treasury. At Treasury, he co-founded and chaired an interagency working group of 13 agencies that advised principals on future financial vulnerabilities. Goodman is a member of the Export-Import Bank of the United States Advisory Committee. He serves as Chairman of the Board of The First Alliance Foundation and a member of the Advisory Board of the Penn Institute for Economic Research (PIER). Previously, he served on the Executive Committee for the Global Equity Group at Santander Investment and on the Board of the Emerging Market Traders Association.

Greg Hopper is a Principal at Enterprise Risk Economics. Hopper retired from Goldman Sachs in 2022, where he previously was Head of the Office of New and Emerging Risks, focusing on climate risk management and Global Head of Enterprise Risk Management. In those roles, he oversaw the Sovereign and Economic Risk Group, Firmwide Risk Identification, Firmwide Limits and Risk Appetite, ESG Quantitative Analysis, Firmwide Stress Testing, the Risk Economics Group, and led the Comprehensive Capital Analysis and Review process for the Risk Division. He was co-chair of the Firmwide Stress Test Committee and a member of the Firmwide Model Risk Control Committee and the Risk Governance Committee. During his career at Goldman Sachs, Hopper also led a number of quantitative modeling groups, counterparty credit risk management groups, and hedge fund risk management groups. Hopper joined Goldman Sachs in 2004 as a Vice President and was named Managing Director in 2006. Before joining Goldman Sachs, he was an Executive Director at Morgan Stanley, where he was head of the Credit Analytics Group.

Steve Joachim is the Chief Executive Officer of SHGB Associates LLC, which offers management consulting and data product services to young companies. He also is also Chairperson of the Board of Directors for the Global Legal Entity Identifier Foundation (GLEIF) and serves as the Chief Financial Officer of Smart World Productions, LLC, the producer of North America's largest conference on smart cities. Before that, Joachim was Executive Vice President of Transparency Services at the Financial Industry Regulatory Authority (FINRA). Before joining FINRA, he was the Senior Vice President, Chief Strategy Officer, and General Manager for Plural from 1997 to 2001. Plural was a custom interactive software development and strategy firm. In 1983, he began a nearly 15-year stint with Merrill Lynch. Joachim has been the Chairman of the International Forum for Investor Education and has served as a member of the Philadelphia Stock Exchange Board of Governors, Board of Directors for Merrill Lynch Specialists, Inc., and Board of Directors for Wilco, Inc. He has also been a member of the Nasdaq Industry Advisory Committee and the American Stock Exchange Upstairs Member Advisory Committee.

Michael Levy is Chief Economist for the Americas and Asia for Berenberg Capital Markets, a FINRA-registered broker-dealer, providing research, advisory, and execution services to U.S. institutional investors. He conducts research on a variety of U.S. and global economic and macroeconomic topics. He is an advisor to several Federal Reserve Banks and has testified before U.S. Congressional committees on topics concerning the Federal Reserve and monetary policy, fiscal and budget policies, economic and credit conditions, and the banking industry. Previously, he was Chief Economist at Bank of America and at Blenheim Capital Management. He has also conducted research at the American Enterprise Institute and the Congressional Budget Office. He is Co-Chairman of the Shadow Open Market Committee, a group of academics that analyzes the monetary policies of the U.S. Federal Reserve System and other central banks. He is an advisor to several U.S. Federal Reserve Banks, the European Commission, and the Bank of Japan. He is a member of the Council on Foreign Relations, the Economic Club of New York, and the Foreign Policy Research Institute. He is also a member of the governance board of the Research Alliance for New York Schools.

James Nevels is Chairman of The Swarthmore Group, a Philadelphia-based investment advisory firm, which he founded in 1991. He has nearly 40 years of experience in the securities and investment industry. Currently, he is Chairman and member of the board of the Federal Reserve Bank of Philadelphia. Prior to his appointment as Chairman, he served as Deputy Chairman of the Bank's board of directors and has been a Class C director at the Bank since January 2010. He also serves on the boards of directors of three public companies: First Data, Alcoa Corporation, and WestRock (Lead Independent Director, 2017-19). He is a member of the Federal Reserve Bank of Philadelphia Presidential Advisory Committee and of the Council on Foreign Relations. In December 2001, the Governor of Pennsylvania appointed Nevels as Chairman of the Philadelphia School Reform Commission to oversee the turnaround of the financially distressed School District of Philadelphia, then the ninth-largest school district in the United States. He served as Chairman until September 2007. Nevels was appointed by President George W. Bush to the Advisory Committee to the Pension Benefit Guaranty Corporation in 2004. He served as Chairman from 2005-07. He also served as Chairman (2009-15) and Lead Independent Director (2015-17) of The Hershey Company, member of the board of the Hershey Trust Company and Milton Hershey School, member of the board of XL Group, member of the board of the Marine Corps Heritage Foundation, member of the board of MMG Insurance Company, member of the board of Tasty Baking Company, and member of the board of trustees of the Pro Football Hall of Fame. He has been selected to represent the views of investment advisors, particularly in the area of securities. He has expertise in wealth management and corporate governance.

Charlie Plosser served as president and CEO of the Federal Reserve Bank of Philadelphia from 2006 to his retirement in 2015. He is currently a Visiting Fellow at the Hoover Institution at Stanford University and serves as a director on several boards. Prior to joining the Federal Reserve Bank of Philadelphia, Plosser was the John M. Olin Distinguished Professor of Economics and Public Policy and director of the Bradley Policy Research Center at the William E. Simon Graduate School of Business Administration at the University of Rochester, where he also served as dean from 1993 to 2003. His research interests include macroeconomics, monetary theory and policy, econometrics, and finance. He has published articles in the major economic journals and served as co-editor with Robert King of the Journal of Monetary Economics for 20 years. Plosser has been a Visiting Scholar at the Bank of England and the Federal Reserve Bank of Minneapolis. He also has served a as Research Associate at the National Bureau of Economic Research in Cambridge, Massachusetts. In the last decade, Plosser has given more than 100 talks around the world to audiences of academics, the business community, and the general public on topics ranging from economics and public policy to management education and forecasting.

John Ryding is Chief Economist of RDQ Economics, LLC, an independent economic research and consulting firm, and also Chief Economic Advisor to Brean Capital, LLC, a New York-based full service broker-dealer. Prior to founding RDQ Economics, Ryding was the Chief U.S. Economist at Bear Stearns and Co. He started his career in 1980 at the Economics Department of the Bank of England, where he held various positions, including the head of the Economic Forecasting Group. He was also a Senior Economist at the Federal Reserve Bank of New York from 1989 to 1991. He is a graduate of Cambridge University, England. He has been selected to represent the views of financial research economists on macroeconomic issues. He has expertise in U.S. economic and monetary policy, as well as economic forecasting.

Marc Sumerlin is Managing Partner at Evenflow Macro, a global macroeconomic consulting firm he founded in 2013. From 2003 to 2012, he served as Managing Director and co-founder of the Lindsey Group, during which time he testified before the Congressional Oversight Panel on the origins of the financial crisis; he also traveled extensively to Japan, China, and Europe. From 2001 to 2002, he served as Deputy Assistant to the President for Economic Policy and Deputy Director of the National Economic Council. In that capacity, he helped President George W. Bush develop and implement his economic agenda. He also worked as an economic policy advisor for the George W. Bush for President campaign, after starting his career at the U.S. Senate Budget Committee. Sumerlin holds a master's degree in applied economics from Johns Hopkins University and a master's degree in public policy from Duke University, where he was a Senator Jacob Javits Fellow. He graduated magna cum laude from Georgetown University. He serves on the Board of Governors at the Johns Hopkins Wilmer Eye Institute. He has been selected to represent financial regulatory advisors. He was chosen given his extensive experience managing financial, economic, and political risks, and for his expertise on the origins of the 2007-09 financial crisis.

Colin Teichholtz is a Principal and Head of Markets at Element Capital Management LLC. Previously, he was head of fixed income at BlueMountain Capital Management, LLC and, before that, he was a partner and Executive Committee member at Pine River Capital Management, LP, where he co-managed Pine River Fund and the headed Pine River Customized Solutions. In addition, he also spent more than a decade working at major Wall Street securities and investment banking firms. He served as a managing director at Morgan Stanley, where he was the head trader of the agency mortgage-backed securities pass-through desk, and also had responsibility for managing the trading desks for interest rate swaps, U.S. Treasury bonds, and agency debentures. In addition to Morgan Stanley, he worked at Goldman Sachs Asset Management as a portfolio manager in its asset management unit, where he oversaw the emerging markets debt team and he launched the Goldman Sachs Global Opportunities Fund. He began his tenure at Goldman Sachs as a trader in agency mortgage-backed securities, Latin American Brady bonds, and Asian Emerging Markets credit. Colin also serves as a member of the Treasury Borrowing Advisory Committee (TBAC).

Jason Trennert is the Chairman and Chief Executive Officer of Strategas and its related companies. In addition, as Chief Investment Strategist, Mr. Trennert is known as one of Wall Street’s top thought leaders on the subject of markets and economic policy. His research pieces are read by leading institutional investors and corporate executives across the globe. In 2006, Mr. Trennert co-founded Strategas, which initially began with just five employees. Today, the firm employs over 50 research analysts, institutional salesmen, and sales traders at its offices in New York and Washington D.C. Before founding Strategas, Mr. Trennert was the Chief Investment Strategist and a Senior Managing Director at International Strategy & Investment (ISI) Group where he built and oversaw two of that firm’s most popular research efforts, its Company Surveys, and Investment Strategy groups. Widely quoted in the domestic and foreign press, Jason is a regular guest on business news programs broadcast by Bloomberg TV, CNBC, CNBC Italia, and Fox Business News, among others. He is the author of three books about investing and the investment business; his most recent publication is My Side of the Street, published by St. Martin’s Press in May 2015. He has authored several op-eds for The Wall Street Journal, the Financial Times, and Investor’s Business Daily. Mr. Trennert’s two most notable calls involved coining the phrase “TINA” as it relates to equities in a world of perpetually low interest rates and his early recognition of the potential allure of Donald Trump as a presidential candidate. His op-ed “The Stock Market and “The ‘TINA’ Factor” was published in The Wall Street Journal in April 2013. “What the Donald Got Right” was published in Investor’s Business Daily in May 2011. His piece “Donald Trump is Underowned” appeared on the website Real Clear Markets in August 2015. Mr. Trennert credits his often out-of-consensus calls to his frequent travels to visit clients in 45 states and 25 foreign countries. He is committed to a number of Italian, Italian-American, and Catholic causes in New York and abroad. For his efforts, he was honored at the 66th Annual Columbus Day parade in New York and was awarded the honorific of Cavaliere by the Republic of Italy on June 2, 2017. Mr. Trennert is a member of the investment committee of the National World War II Museum and a member of the advisory board of Hollow Brook Wealth Management. He has an MBA from The Wharton School at the University of Pennsylvania and Bachelor’s in International Economics from Georgetown University.