• Login
  • Register

    Gain access to exclusive reports and be the first to receive industry insights

  • Contact
Main Content

Executive Programme in Gold Reserves Management

April 29 - May 1, 2013. UC Berkeley

For Executives in Central Banks and Finance Ministries

Overview

The ongoing financial crisis has restored gold as an important focus of official sector attention, and for the first time in decades central banks have become net buyers of gold. Analyzing bonds and currencies comes naturally to central bank executives. This program, created in partnership with the UC Berkeley Center for Executive Education, provides the tools and framework required for a similarly rigorous analysis of gold.

Distinguished faculty from UC Berkeley and the Haas School of Business have come together with experts from the World Gold Council to create the most comprehensive programme specifically dedicated to studying the topic of gold.

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 three-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.

Benefits of attending

  • World-class faculty from UC Berkeley’s highly-regarded International Economics and Finance program
  • Insights from the World Gold Council’s global network of experts
  • A framework for understanding movements in the gold price
  • Analysis of portfolio management techniques that will promote an understanding of gold’s performance in relation to other reserve assets.
  • Networking opportunities with other executives from the official sector

Featured faculty and speakers

  • Ashish Bhatia

    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.

     
  • Natalie Dempster

    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.

     
  • Peter Drabwell

    Peter Drabwell, HSBC

    Peter Drabwell began his career in metals with JP Morgan in 1990 and later worked at UBS, AIG, and Goldman Sachs trading metals. During the last fifteen years, his concentration has been in gold. A year ago, he moved into marketing, primarily speaking to hedge funds, central banks, and corporates. In June 2012, he was voted onto the London Bullion Market Association Management Committee and currently serves as a Director at HSBC.

     
  • Barry Eichengreen

    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).

     

     
  • Rohan Hazelton

    Rohan Hazelton, Goldcorp Inc.

    Rohan Hazelton is Vice President of Strategy at Goldcorp Inc. where he is responsible for developing and evaluating strategic initiatives as well as guiding the company's overall corporate strategies. Mr. Hazelton has held a variety of senior management positions at Goldcorp including Vice President of Finance, CFO of Goldcorp Mexico, Corporate Controller, and Head of Gold Sales. He is currently on the board of directors at Primero Mining, and formerly on the board of Terrane Metals (audit committee chair) and Gryphon Gold.

    He is a Chartered Accountant with over 15 years of finance experience, 10 of those years at senior positions within the mining industry. Mr. Hazelton previously worked for Deloitte & Touche LLP and Arthur Andersen LLP, and was a commercial loans officer for Dialog Bank Moscow, Russia. Mr. Hazelton has a B.A. in Math and Economics from Harvard University.

     
  • Martin Lettau

    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.

     
  • Stewart Murray

    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.

     
  • Maurice Obstfeld

    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.

     
  • Kenneth Sullivan

    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.

     
  • Paul Voller

    Paul Voller, Managing Director, Co-Head of Global Metals, HSBC Bank USA NA

    Paul Voller has nearly 30 years experience in the Precious Metals Markets. His career began in 1984 when he joined the British merchant bank, Samuel Montagu, shortly after leaving school. The bank was subsequently sold to the HSBC Group where Paul has remained in various capacities.

    From 1984 to 2001 Paul was based in London, trading gold, silver, platinum and palladium where he rose to become Chief Dealer in 1992. His expertise around Metals included trading spot, futures, forwards and Options.

    In 2001 shortly after the acquisition of Republic National Bank, New York, Paul moved to NY with a focus on marketing and the further development of the banks precious metals business. In 2007 Paul became Head of HSBC's Precious Metals business in the Americas and in 2012 became Co-Head of HSBC's Global business.

     
 

Who should attend

  • Senior central bankers – governors, deputy and assistant governors, heads of reserve management, economists, and portfolio managers
  • Finance ministry officials and treasury managers
  • This is a high-level, intensive program that requires that participants to have a strong grasp of economics, financial markets and portfolio management

© Copyright 2013 World Gold Council. All rights reserved.