Flannery presents at global banking seminar on Downing Street

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Gainesville, Fla. – Mark Flannery, BankAmerica Eminent Scholar of Finance, was recently in London for a seminar held at the second-most famous address in England: the British Prime Minister’s residence at 11 Downing Street.

Flannery gave a presentation on privately held contingent capital to an international assembly that included representatives of not only HM Treasury, but also the US’, as well as the Bank of England, IMF, EC, and a host of countries ranging from Brazil to Germany to Japan. Key players from inside the “City of London” were also in attendance, global division heads from firms such as Credit Suisse, Barclays Capital and Deutsche Bank AG. Only three other academics were in attendance (one from the US).

Financial Services Secretary to the Treasury Lord Paul Myners (chair of the round table) convened the seminar to discuss ideas put forth in a paper recently published by HM Treasury (“Risk, Reward and Responsibility: the financial sector and society”).

Professor Flannery is currently the resident scholar at the Federal Reserve Bank of New York (for the 2009-10 academic year). His research centers on corporate financial structure, management of financial institutions, and the role for government regulation of the financial sector. He is Chairman of the Board of Trustees of the Financial Management Association and co-director of the FDIC’s Center for Financial Research. Flannery’s research has been published in journals such as American Economic Review, Quarterly Journal of Economics, Journal of Finance, Journal of Financial Economics, Review of Financial Studies and Journal of Monetary Economics. He is incoming president of the Financial Intermediation Research Society.

Professor Flannery earned his Ph.D. from Yale University. He has served on the faculty of the University of Pennsylvania and the University of North Carolina, and as a visiting professor at the London Business School, New York University, and the University of New South Wales.