Executive Programme in Gold Reserves Management
Dates and Registration
April 28 – May 2, 2014
Location: Haas School of Business University of California, Berkeley
Fees: $4,500 USD *
Early registration by January 1, 2014: $3,250 USD *
* Includes four nights accommodation and meals during the program
For more information contact Gold@lists.haas.berkeley.edu
To visit the Berkeley site http://executive.berkeley.edu/
After a successful first year, UC Berkeley and the World Gold Council will again be offering the Executive Program in Reserve Asset Management in 2014.
The exciting collaboration will again bring distinguished faculty from UC Berkeley and experts from the World Gold Council to teach the most comprehensive program specifically dedicated to studying the topic of gold and reserve management.
Senior central bankers and finance ministry officials from around the world will come together to develop frameworks for the fundamental analysis of gold. They will also gain the technical knowledge needed to make critical management and trading decisions about gold. The four-day program will culminate in an intensive workshop where participants will work in teams with their peers to analyze gold’s performance in reserve portfolios through the use of simulations.
A conversation with Robert Zoellick
View highlights from the 2013 Program
Upon completion of this UC Berkeley program, participants will:
- Possess a framework for analyzing and interpreting movements in the gold price for reserve management and monetary policy decisions
- Understand the characteristics of gold in relation to other assets that central banks typically hold, with a view to optimizing reserve portfolio performance.
- Have mastered modern portfolio management skills to support executive-level decision-making that fully takes into account diversification benefits and economic trade-offs.
- The unique four-day Executive Program in Gold Reserves Management seamlessly blends the expertise of UC Berkeley’s distinguished faculty, the network of experts from the World Gold Council, and from peers at central bankers and finance ministries from around the world.
This program is limited to executives from central banks and finance ministries only
This program is designed for experienced executives who are high achievers, currently holding, or having the potential to hold, leadership positions at global central banks and finance ministries. Participants will include senior central bankers - governors, deputy and assistant governors, heads of reserve management, economists, and portfolio managers – together with finance ministry officials and treasury managers.
Participants will have degrees in economics, business, or finance, and probably a minimum of 10 years of experience. This is a high-level, intensive program that requires that participants have a strong grasp of economics, financial markets, and portfolio management. All sessions will be conducted in English.
Space is limited and final acceptance into the program will be based on applications.
UC Berkeley Faculty
Barry Eichengreen, Professor of Political Science and Economics, UC Berkeley
Barry Eichengreen is the George C. Pardee and Helen N. Pardee Professor of Economics and Professor of Political Science at the University of California, Berkeley, where he has taught since 1987. He is a Research Associate of the National Bureau of Economic Research (Cambridge, Massachusetts) and Research Fellow of the Centre for Economic Policy Research (London, England). In 1997-98 he was Senior Policy Advisor at the International Monetary Fund. He is a fellow of the American Academy of Arts and Sciences (class of 1997).
Professor Eichengreen is the convener of the Bellagio Group of academics and economic officials and chair of the Academic Advisory Committee of the Peterson Institute of International Economics. He has held Guggenheim and Fulbright Fellowships and has been a fellow of the Center for Advanced Study in the Behavioral Sciences (Palo Alto) and the Institute for Advanced Study (Berlin). He is a regular monthly columnist for Project Syndicate.
His most recent books are Exorbitant Privilege: The Rise and Fall of the Dollar and the Future of the International Monetary System (January 2011)(shortlisted for the Financial Times and Goldman Sachs Business Book of the Year Award in 2011), Emerging Giants: China and India in the World Economy, co-edited with Poonam Gupta and Ranjiv Kumar (2010), Labor in the Era of Globalization, co-edited with Clair Brown and Michael Reich (2009), Institutions for Regionalism: Enhancing Asia's Economic Cooperation and Integration, coedited with Jong-Wha Lee (2009), and Fostering Monetary & Financial Cooperation in East Asia, co-edited with Duck-Koo Chung (2009). Other books include Globalizing Capital: A History of the International Monetary System, Second Edition (2008), The European Economy since 1945: Coordinated Capitalism and Beyond (updated paperback edition, 2008), Bond Markets in Latin America: On the Verge of a Big Bang?, co-edited with Eduardo Borensztein, Kevin Cowan, and Ugo Panizza (2008), and China, Asia, and the New World Economy, co-edited with Charles Wyplosz and Yung Chul Park (2008).Professor Eichengreen was awarded the Economic History Association's Jonathan R.T. Hughes Prize for Excellence in Teaching in 2002 and the University of California at Berkeley Social Science Division's Distinguished Teaching Award in 2004. He is the recipient of a doctor honoris causa from the American University in Paris, and the 2010 recipient of the Schumpeter Prize from the International Schumpeter Society. He was named one of Foreign Policy Magazine’s 100 Leading Global Thinkers in 2011. He is Immediate Past President of the Economic History Association (2010-11 academic year).
Martin Lettau, Professor of Finance and Chair of the Berkeley-Haas Finance Faculty
Martin Lettau is the Kruttschnitt Family Chair in Financial Institutions at the Haas School of Business at the University of California at Berkeley. Before joining the Haas School he was an Assistant Professor of Finance at the Stern School of Business at New York University and a Senior Economist at the Federal Reserve Bank of New York. He has held visiting positions at Columbia University, the University of Chicago, and the Federal Reserve Bank of Minneapolis, among others. He is known for his research in financial economics and macroeconomics. He concentrates on asset pricing, the interaction of financial markets and the macro economy, stock market volatility and the behavior of stock and bond markets. He has published extensively in leading economics and finance journals and has been awarded several prestigious honors and prizes. He has served as the chair of the finance group at Haas since 2010.
Maurice Obstfeld, Professor of Economics, UC Berkeley
Professor Obstfeld is known worldwide for his expertise in international economics. He has co-authored a widely used undergraduate economics textbook with Nobel Prize winner Paul Krugman of Princeton and Marc Melitz of Harvard, and he has co-authored the leading graduate textbook in international macroeconomics with Kenneth Rogoff of Harvard. He serves as honorary advisor to the Bank of Japan's Institute of Monetary and Economics Studies. Professor Obstfeld is a Fellow of the Econometric Society and the American Academy of Arts and Sciences. He is active as a research associate at the National Bureau of Economic Research and an International Research Fellow at the Kiel Institute of World Economics.
World Gold Council & Industry Experts
Natalie Dempster, Director, Government Affairs, World Gold Council
Natalie leads the Government Affairs team, which works with policymakers and influencers globally, such as central bankers, politicians, regulators, academics and the financial services industry, to equip them with the tools and research they need to make an informed decision about the role of gold.
Natalie has 15 years of experience as an economist and has worked on the trading floors at The Royal Bank of Scotland and JP Morgan Chase. She began her career as a foreign-exchange trader at JP Morgan Chase on the emerging markets desk. Natalie holds a BSc in Economics from Queen Mary and Westfield College, University of London and an MBA from City University Business School (CASS), London.
Ashish Bhatia, Manager, Government Affairs, World Gold Council
Ashish Bhatia is a member of the Government Affairs team at the World Gold Council. In this position he is responsible for developing proprietary research notes and custom analysis for central bank reserve managers on gold’s role as a reserve asset. He also supports the Government Affairs team in its outreach to global policymakers with the tools and research they need to make an informed decision about the role of gold. Ashish is a frequent speaker at global forums focused on reserve asset management, where he shares expertise in central banking and gold with a new generation of central bankers that are rediscovering gold as a strategic asset. Prior to the joining the World Gold Council Ashish served in many different roles at the Federal Reserve Bank of New York. Most recently he worked as a Portfolio Manager and Senior Economic Analyst within the New York Fed’s Markets Group, where he was responsible for managing the United States’ Japanese yen reserves for the US Department of the Treasury and the Federal Reserve System. Prior to his work at the Fed, he worked as an Analyst at GreenPoint Financial (Capital One). Ashish received his bachelor’s degree in Economics from NYU’s Stern School of Business and a Master's degree from the Fletcher School of Law & Diplomacy at Tufts University, specializing in International Monetary Policy and Finance.
Kenneth Sullivan, Senior Financial Sector Expert, International Monetary Fund
Mr. Sullivan is a Senior Financial Sector Expert with the International Monetary Fund. Previously, he spent seven years at the Reserve Bank of New Zealand as Chief Manager of both Accounting and Corporate Services where the bank won accounting prizes for the transparency of its published financial statements. Prior to that he provided a financial management information system consultancy, held senior accounting roles in insurance and wholesaling, and worked in education.
Starting in 1993 he served as central banking expert on IMF missions, providing technical assistance in accounting, risk management and recapitalization to central banks around the world. He presented at central bank accounting workshops and participated in Financial Sector Assessment Program and Safeguard Assessment missions. He has written on issues of central bank financial reporting, capital adequacy, organization and accountability. He is a qualified Chartered Accountant of New Zealand.
Currently he is the IMF's representative on the International Financial reporting Standards Advisory Council and chairs a range of annual central bank accounting study groups addressing issues of transparency in central bank financial reporting and balance sheet strength. In 2008 he spent six-month secondment to a London bank where he worked on issues of structured financial instruments.
Jonathan Spall, Director, Commodities, Barclays
Jonathan Spall joined Barclays in September 2004 and is the firm’s product specialist and manager for metals globally. During his 30 year involvement in precious metal markets he has worked closely with central banks, governments, miners, consumers, institutional investors and hedge funds and worked all over the world including living for nine years in Asia/Pacific.
Mr Spall is the author of “Investing in Gold” which was published by McGraw Hill in December 2008 and his second book, “How to Profit in Gold” came out in September 2010 by the same publisher. He has been a regular columnist on precious metals for a number of newspapers including the “Financial Times” and Abu Dhabi’s “The National” as well as delivering speeches on this topic around the world.
Stewart Murray, Chief Executive, London Bullion Market Association
After qualifying with a first class honors degree in metallurgy from London University, Dr. Murray studied for a PhD on titanium at Imperial College, London. In the decade up to 1984, he worked for the International Wrought Copper Council, serving as its Secretary General from 1980 to 1984. He then joined Consolidated Gold Fields (CGF) where he was responsible for the group's base metals commodities research. In 1989, Dr. Murray set up Gold Fields Mineral Services (GFMS) of which he was Chief Executive for the next nine years to continue the work of publishing the annual survey of the gold market which CGF had pioneered in the late 1960s. His own area of research at GFMS focused on the Middle East and the Indian Sub-continent.
In October 1999, he was appointed Chief Executive of the London Bullion Market Association, where he has been responsible for establishing the LBMA's annual precious metals conference (now in its 13th year) and for the expansion of its membership to encompass companies outside the UK. He is also responsible for guiding the LBMA's Good Delivery System, which involves the testing and accreditation of refiners of gold and silver located in 31 countries.
His earlier interest in base metals was reflected in his involvement over a twenty-year period with the World Bureau of Metal Statistics, of which he was chairman from 1989 to 1991.