Education Advisory Committee
The Education Advisory Committee (EAC) is responsible for providing oversight and guidance to the processes by which CFA Institute develops the Global Body of Investment Knowledge (GBIK), Bodies of Knowledge (BOK), curricula for the CFA Program, CIPM Program and CFA Institute Investment Foundations, and any other program curriculum materials that are developed and administered by CFA Institute.
In order to address its mandate, the Education Advisory Committee:
- Makes recommendations for the continuous development of the practice analysis process by which the GBIK and CBOK are developed
- Selects topics from the Bodies of Knowledge to be reviewed each year and sets priorities for the practice analysis
- Provides guidance in the development and review of the CFA and CIPM Programs curricula in line with practice analysis, CBOK and test specifications
- Assists in idea search, such as new content, conference topics, products and services, in coordination with other CFA Institute stakeholders as necessary
The Education Advisory Committee is comprised of a diverse group of 13 members who reside in the following 10 countries/regions: Australia, Chile, China, India, Portugal, Romania, Singapore, Switzerland, Turkey, and United States.
Elsie M. Fletcher, CFA, is a director at Tukman Grossman Capital Management, an institutional asset management firm in Larkspur, California, USA. She is responsible for all areas of the firm’s client-facing activities including development, board presentations, and investment reporting. Prior to joining Tukman, Fletcher was the chief investment officer for Bank of America’s Pension Plans, with assets under management of USD 26 billion. In this position, she was responsible for leading and implementing the bank’s pension investment program, including asset/liability management, asset allocation, risk management, and manager selection. In addition, Fletcher managed the pension plans at Electronic Data Systems, where she was responsible for USD 2.1 billion in pension plan assets, including defined benefit and 401(k) plans.
Fletcher currently serves as past president of CFA Society San Francisco, where she has been a board member for seven years. She joined the Education Advisory Committee in 2013 and currently serves as the vice chair She has served on the Test Specification Task Force (TSTF), standards setting committees, as a grader for Level III exams, and as a mentor at CFA Society San Francisco.
Fletcher received an MBA in finance from the University of North Texas and a bachelor’s degree from the College of Chemistry and Physics at Louisiana State University. She has held the Chartered Financial Analyst (CFA) designation since 1995.
Anubhuti Gupta, CFA, CIPM, is currently the Pan Asia deputy chief investment officer for Rosenberg Equities, AXA Investment Managers. She is responsible for managing the Asia and Global Emerging Markets strategies and is actively involved in alpha and portfolio construction research.
Gupta joined the company in 2005 as a portfolio manager with the Asia Investment team and managed long-only and long–short portfolios for Asian developed and emerging markets.
Gupta obtained a bachelor’s of engineering with first class honors from Nanyang Technological University (NTU) in Singapore and a master’s degree in financial engineering from the NTU Graduate School of Business with a certificate in Computational Finance from Carnegie Mellon University Tepper School of Business. She was awarded the CFA charter in 2009 and also holds the Chartered Alternative Investment Analyst (CAIA) and Certificate in Investment Performance Measurement (CIPM) designations. She has served on the Executive Committee for Financial Women’s Association of Singapore and continues to be a member of the association. Gupta has been an active member of CFA Society Singapore and joined the Education Advisory Committee of CFA Institute in September 2015.
Hugo Aravena, CFA, CAIA, FRM is Director of Portfolio Solution and Asset Allocation in BTG Pactual Chile. He is responsible for portfolio asset allocation and portfolio solutions for advisory services and discretionary accounts of wealth management clients.
Aravena has 12 years of professional experience in investment banking. His experience includes Portfolio Manager of Equity, Balanced Mutual Funds, Derivatives and Liquid Alternative Strategies and extensive experience working with wealth management clients and private bankers designing and implementing efficient portfolios and tailor-made solution for institutions, foundations, and wealth management investors with emphasis in risk management and total return mandates.
Aravena holds a MSc in Mathematical Finance from the University of Birmingham, a MSc in Finance from the University of Chile, and earned a bachelor's degree in Business from The University of Chile. Aravena is a Professor of Wealth Management and Advanced Portfolio Management at the University of Chile and an active member of CFA Society Chile.
Cristina Brízido, CFA, is Head of Investments at the asset management company of Caixa Geral de Depósitos Bank (CGD). She leads an investment team responsible for the design, implementation, and management of investment solutions for individual and institutional clients. Previously, Brízido was the Head of the Wealth Management unit. Prior to that, she was an Equity Analyst since joining the firm in 2001. Brízido has been involved in the financial services industry for over 15 years and has leveraged expertise on a variety of investment areas such as: portfolio management, wealth management, manager selection, and alternative investments. Brízido graduated with an Economics degree from Nova School of Business and Economics (Nova SBE).
Joanna Chang, CFA, FRM, is an Investment Risk Specialist at the Australian Prudential Regulation Authority (APRA). She provides advice and guidance on investment risk matters relating to regulated institutional asset owners such as pension funds and insurers. Chang’s area of specialisation is investment risk governance covering key aspects of the investing process from investment objective and strategy formulation through to implementation. Her scope of work covers all asset classes from fixed interest and listed securities through to alternative assets. Chang has also recently served as a Technical Advisor to the Australian House of Representatives Standing Committee on Economics.
Prior to joining APRA, Chang held several roles within Westpac Banking Corporation's institutional division across financial markets trading and corporate advisory areas.
She holds a Commerce degree majoring in Accounting and Finance from Macquarie University and the FRM designation.
Adrian Codirlașu, CFA, PhD, is a senior banker with over 18 years of experience in banking and financial markets and has held the CFA designation since 2006. He also holds the title of Doctor of Economics, with a specialization in international finance. Mr. Codirlasu has 5 years of experience as a Senior Options Dealer with ING Bank and 7 years of experience as a Risk Director within a Top 5 international bank operating in Romania, being in charge with managing financial risk (market and liquidity risk), operational risk and reputational risk. Previously, Adrian has been a Senior Economist in the research department of the National Bank of Romania for about 6 years. In addition, Mr. Codirlasu is an Associate Professor with DOFIN – Doctoral School of Finance and Banking for over 18 years and CEFIN - Center for Advanced Research in Finance, where he teaches subjects for MSc students such as econometrics, derivatives, fixed income, FX and money markets and risk management. For the last 12 years Mr. Codirlasu has been a member of the CFA Romania Board of Directors, as well as the association’s President from 2009 to 2011 and from 2015 to present-day. For his volunteer activity, Adrian was awarded Volunteer of the Year EMEA East by CFA Institute in 2012.
Ismail Erdem, CFA, is chief investment officer and founding partner of Taaleri Wealth Management, which is a subsidiary of Taaleritehdas, a Finnish wealth management and investment firm. Erdem leads the wealth management team in Turkey. He also manages the group’s equity funds that invest in Turkey and Middle East and North Africa (MENA) regions.
Erdem began his career in 1995 as an equity analyst. Prior to joining Taaleri, he worked as a research analyst at ING Barings and managed the investment research teams of leading Turkish brokers including Finansinvest and TEB/BNP Paribas Investments.
Erdem is a founding board member of CFA Society Istanbul and has served on the society’s board in various capacities including two terms as president. He led the effort to hold the first Investment Research Challenge in Turkey and contributed to several IRCs as mentor and judge.
Erdem holds bachelor’s degrees in electrical engineering and physics from Bogazici University, Turkey. He completed his MBA in finance and corporate accounting at the William E. Simon Graduate School of Business, University of Rochester. He also conducted PhD studies in management science and systems at McMaster University, Canada.
Fan Huang CFA, CPA, is currently Executive Director, Head of China Market, Private Banking, United Overseas Bank (China) LTD. Prior to his current position, he was the Head of Private Banking with Bank of Ningbo. Before joining Bank of Ningbo, he ran the Asset & Wealth management business for Deutsche Bank in China for 9 years. He has also worked for HSBC, CIBC, TD Canada Trust, and other local Asset management companies. He is a seasoned banker in the Asset & Wealth management segment of the financial industry with over 25 years of experience. Before and concurrent with his career in Finance, he has been conducting academic teaching and researching, and is a leader of campus finance laboratories with various reputable local universities. Mr. Huang is a columnist for Financial Times (Chinese Version), Forbes (Chinese Version) and other local mainstream financial media. He has also published two popular Chinese books: “Growing the wealth through easy ways” and “Effective Equity Investment Strategy to Surfing Market Turbulence”.
Srivathsan Ramachandran, CFA, is a sell-side analyst with over a decade of experience, and he has held the CFA designation since 2009. Sri has worked at Spark Capital Advisors since 2006 where he has lead research efforts across sectors. Mr. Ramachandran has experience in the Indian / Global Technology sector including internet and Exchanges. He has authored over 50 initiation and thematic research notes across sectors such as technology, Tech distribution, Internet and exchanges. Mr. Ramachandran has been a CFA Institute grader since 2015, a member of the Practice Analysis working body and a mentor for the research challenge since its inception in India.
Suresh Raghavan, CFA, is a principal and founding partner of MBR Financial, a boutique private wealth management firm based in Houston, Texas, USA. He co-founded MBR Financial in 2011 and is the firm’s chief investment officer. Prior to entering the private wealth management industry in 2002, Raghavan was in institutional portfolio management for more than a decade. He started his career as a fixed income analyst at Schroder Capital in New York in 1989.
Raghavan has been a volunteer for CFA Institute since 2005, serving on the Disciplinary Review Committee, as a CFA exam grader, and on the Education Advisory Committee. He also serves as the Interim Designated Officer for CFA Institute.
Raghavan earned a bachelor’s degree in commerce from the University of Madras (Chennai) and an MBA from Syracuse University. He is the treasurer of the Houston Arts Alliance, a public–private partnership for funding the arts in Houston, and is a member of the City of Houston’s Investment Advisory Committee.
Patrick Ranzijn, CFA, is global co-lead of products and finance education at UBS Business University, where he also authors learning guides and books and serves as an expert for the Wealth Management Master program. He previously founded Fontana Capital Management; served as managing director, CEO, and senior trader at All Options Helvetia AG; and traded at Timber Hill and Interactive Brokers Group, Inc. Mr. Ranzijn also holds the CAIA (Chartered Alternative Investment Analyst) and FRM (Financial Risk Manager) designations. He is currently a contributor to a finance curriculum for social entrepreneurs in conjunction with the World Economic Forum.
Stefan Whitwell, CFA, CIPM, is President and Co-Founder of National Wealth Partners, LLC. Stefan is a sought-after advisor and business funding expert serving difference makers and business owners. He helps clients define and implement strategies to support their most valued life-goals through asset protection, tax planning, investing, business exit planning, wealth transfer planning and high impact philanthropy.
Stefan started his career working alongside some of the most globally respected bankers at James D. Wolfensohn, Inc., Goldman Sachs and Credit Suisse First Boston. He has worked in New York City, London, Hong Kong and Tokyo and has a first-hand understanding of the global markets.
Stefan graduated from the Wharton School of Business at the University of Pennsylvania and subsequently earned the Chartered Financial Analyst designation and Certificate in Investment Performance Measurement, both from the CFA Institute where he serves on their global Educational Advisory Committee. In addition, Stefan serves on the Long Center Corporate Advisory Board, the Baylor Scott & White - Development Advisory Board and as a Social Venture Partner at Mission Capital.