Join us for the renowned 63rd Annual Financial Analysts Seminar (FAS) on 23–26 July 2018 at the University of Chicago’s Gleacher Center.


Topics: Standards, Ethics, and Regulations

Hosted by CFA Institute, CFA Society Chicago

Internationally-recognized as one of the most comprehensive continuing professional development programs for global investors, the FAS offers engaging lectures, small classroom discussions, and interactive case studies on a wide range of timely investment topics.

View the 63rd Annual Financial Analysts Seminar brochure (PDF)

What to Expect? 
  • 4 Days
  • Mixture of Lectures, Small Classroom Discussions, and Interactive Case Studies
  • Networking Opportunities
  • Learn new developments in investment management and research with the goal of improving investment decision making.
Who Should Attend?
Buy-side investors seeking to broaden their knowledge of the latest developments and research in investment management globally.
  • Portfolio Managers
  • Analysts
  • Strategists
  • Risk Managers
  • Asset Allocators
  • Consultants
  • Recommended 10+ years’ experience
Sample of Key Topics
  • Instabilities and Risks in Global Financial Markets
  • Improving the Investment Decision Process: Behavioral Alpha
  • The Future of Blockchain, AI and other Emerging Technologies: Impact on Investment Management
  • Outlook for Emerging Markets
  • Incorporating Geopolitical Risks in Investment Decision Making

 

28 CE

including 3 SER

CFA Institute members can claim CE credit by providing their CFA Institute ID number when registering.

Speakers

George (Yiorgos) Allayannis
George (Yiorgos) Allayannis

George (Yiorgos) Allayannis is a professor of business administration at the Darden School of Business at the University of Virginia. His research focuses on corporate risk management, international finance, capital structure, and corporate financial policies and has appeared in leading journals, such as the Journal of Finance, the Journal of Financial Economics, and the Review of Financial Studies. He was the recipient of the University of Virginia Alumni Association Distinguished Professor Award in 2011. Between 2005 and 2007, he was a director at Citigroup’s Global Financial Strategies Group and worked extensively with clients in the financial institutions and industrials sectors. He holds an MBA degree from the University of Massachusetts and a PhD in finance from the Leonard N. Stern School of Business at New York University.

Keith Black
Keith Black CFA

Keith Black, CFA, is managing director of curriculum and exams at the CAIA Association. He has over 25 years of financial market experience, serving approximately half that time as an academic and half as a trader and consultant to institutional investors. Previously, Dr. Black worked at Ennis Knupp + Associates, where he advised foundations, endowments, and pension funds on their asset allocation and manager selection strategies in hedge funds, commodities, and managed futures. His prior experience includes commodity derivatives trading, stock options research and CBOE floor trading, and building quantitative stock selection models for mutual funds and hedge funds. Dr. Black has also served as an assistant professor and senior lecturer at the Illinois Institute of Technology. He contributes regularly to the CFA Digest and has published articles in the Journal of Wealth Management, the Journal of Trading, the Journal of Investing, and the Journal of Alternatives Investments. Dr. Black is the author of Managing a Hedge Fund and co-author of the 2012 and 2015/2016 second and third editions of the CAIA Level I and Level II textbooks. He was named to Institutional Investor magazine’s list of Rising Stars of Hedge Funds. Dr. Black earned a BA from Whittier College, an MBA from Carnegie Mellon University, and a PhD from the Illinois Institute of Technology.

Arthur Budaghyan
Arthur Budaghyan CFA

Arthur Budaghyan, CFA, is senior vice president, emerging markets strategy, at BCA Research. He is responsible for emerging markets trading strategies and is the chief strategist for the Emerging Markets Strategy service. Mr. Budaghyan also oversees the firm’s Frontier Markets Strategy service, which he helped develop and launch. Previously, he spent four years in Armenia with a regulatory government organization supervising financial markets. Mr. Budaghyan has an MBA from American University of Armenia and an MSc in economic policy management from McGill University.

Andrew C. Canter
Andrew C. Canter CFA

Andrew C. Canter, CFA, is an executive director and chief investment officer of Futuregrowth Asset Management, where he provides a strategic perspective to the investment team, oversees the investment processes, sets manager mandates, monitors compliance, and reviews fund exposures and performance. Previously, he assisted in co-founding RMB Asset Management and served as a fixed interest dealer, portfolio manager, head of fixed interest, and chief investment officer. Mr. Canter has been a director of several infrastructure and development companies, ranging from toll roads to low-income housing finance and municipal finance. He was a founding director of CFA Society South Africa and is a founding member of the Association for Savings and Investment South Africa’s Standing Committee on Capital and Money Markets. Mr. Canter is a public speaker and lecturer, often on the subjects of fixed interest management, ethics in financial services, developmental investing, and governance.

Nicholas Colas
Nicholas J. Colas

Nicholas J. Colas is co-founder of Datatrek Research. He has more than 30 years of experience on Wall Street in equity research, money management, and investment banking. Previously, Mr. Colas was director of research and chief market strategist for Rochdale Securities and Convergex Group, where he authored the firm’s Morning Markets Briefing. He has also served as an analyst and portfolio manager at SAC Capital. In addition, Mr. Colas was the senior equity auto analyst at First Boston. In this role, he advised clients on investments in the sector and was active in a range of equity offerings and merger and acquisition assignments—including several equity underwritings for Chrysler, as well as its eventual sale to Daimler Benz, along with IPOs in the auto parts, rental car, and Chinese auto industry sectors. Mr. Colas is regularly on CNBC, Bloomberg Television, and Bloomberg Radio. He received an undergraduate degree from Haverford College, majoring in Near Eastern archaeology, and an MBA from the University of Chicago.

Raphael Douady
Raphael Douady

Raphael Douady is a French mathematician and economist specializing in financial mathematics and chaos theory. He holds the Frey Family Endowed Chair of Quantitative Finance at Stony Brook University, is the international representative (and former academic director) of the Laboratory of Excellence for Financial Regulation (LabEx-ReFi), and is affiliated with the French National Centre for Scientific Research. Professor Douady co-founded the fintech firms Riskdata and Datacore, and he has more than 20 years of experience in the banking industry (risk management, option models, trading strategies) and 35 years of experience researching pure and applied mathematics. His background in pure mathematics is in dynamical systems, chaos theory, and symplectic geometry. Professor Douady’s work in mathematical finance has focused on extreme risk, for which he developed the theory of polymodels, and on systemic risk and the anticipation of market instabilities and crises. He also authored a seminal article on infinite dimensional interest rate models and a rating-based credit derivatives model that introduced the notion of “rating surface.” Professor Douady studied at the Ecole normale supérieure and earned a PhD in mathematics from the University of Paris 7.

Mary Gentile
Mary C. Gentile

Mary C. Gentile is the creator and director of Giving Voice to Values, professor of practice at the University of Virginia Darden School of Business, senior adviser at the Aspen Institute Business and Society Program, and a consultant on management education and leadership development. Previously, she was a faculty member and manager of case research at Harvard Business School, where she was one of the principal architects of the leadership, ethics, and corporate responsibility curriculum. Professor Gentile is the author of numerous books and articles, including the award-winning Giving Voice to Values: How to Speak Your Mind When You Know What’s Right. She also co-authored Can Ethics Be Taught? Perspectives, Challenges, and Approaches at Harvard Business School and was content expert for the award-winning interactive HBS Publishing CD-ROM “Managing across Differences.” Among numerous awards, Professor Gentile was named one of the Top Minds 2017 by Compliance Week and Bronze Medal Winner for Ethical Leadership from Reimagine Education 2017. She was shortlisted for the Thinkers50 "Ideas Into Practice" award and named one of the 100 Most Influential in Business Ethics in 2015 by Ethisphere Magazine and one of the Top Thought Leaders in Trust: 2015 Lifetime Achievement Award Winners by Trust Across America-Trust Around the World. She earned a bachelor’s degree from the College of William and Mary and an MA and a PhD from the State University of New York at Buffalo.

Laura Geritz
Laura Geritz CFA

Laura Geritz, CFA, is the CEO and founder of Rondure Global Advisors, a woman-owned investment firm focused on high-quality “core” equity investing with a long-term view. The firm’s strategies include a developing countries portfolio and an overseas developed country portfolio, and she is the portfolio manager for both strategies. Previously, Ms. Geritz served on the international team at Wasatch Advisors, where she was the founding portfolio manager for the Wasatch Frontier Emerging Small Countries Fund, a lead portfolio manager for the Wasatch International Opportunities Fund, and a lead portfolio manager for the Wasatch Emerging Markets Small Cap Fund. Ms. Geritz began her financial career as a bilingual investor relations representative at American Century Investments, where she also eventually worked as a US mid/large core and global analyst. In addition, she has served as a senior analyst working on US small- and micro-cap funds at Mellon Corporation. Ms. Geritz graduated with honors from the University of Kansas, earning a BA in political science and history, and earned a master’s degree in East Asian languages and culture from the University of Kansas.

Nili Gilbert
Nili Gilbert CFA

Nili Gilbert, CFA, is co-founder of Matarin Capital, where she is a portfolio manager who manages hedge fund and long-only equity strategies. Previously, she was senior director at Invesco. Ms. Gilbert is a regular contributor on CNBC, is a board member at Synergos Institute and chair of its Finance and Investment Committees, and is on the Investment Committee of the David Rockefeller Fund. She has also served as co-chair of the Council on Foreign Relations’ Term Member Advisory Committee and as a member of its International Affairs Fellows Selection Committee. Ms. Gilbert has been honored by the World Economic Forum as a Young Global Leader, by 100 Women in Hedge Funds as a Chartered Alternative Investment Analyst Scholar, and with the Toigo Foundation’s Bridge to Business award. She is a member of the Economic Club of New York. Ms. Gilbert received a BA from Harvard University—graduating magna cum laude with a special concentration in economics and social studies—and an MBA in finance from Columbia Business School, where she was a Toigo Fellow.

Sarah Jiang
Sarah Jiang

Sarah Jiang is a researcher and portfolio manager on the Global Alternative Premia multi-strategy team at AQR, focusing on the DELTA and Style Premia strategies. Prior to her current role, she performed a similar function on the Global Stock Selection team. Ms. Jiang holds a BS in economics from the Wharton School and a BSE in computer science from the School of Engineering and Applied Science at the University of Pennsylvania.

Sonny Kalsi
Sonny Kalsi

Sonny Kalsi is a founder and partner of GreenOak Real Estate, an independent, partner-owned real estate principal investing firm that seeks to create long-term value for its investors and clients. Previously, he was the global co-head of Morgan Stanley’s real estate investing business and president of the Morgan Stanley Real Estate Funds. Mr. Kalsi and his team led the formation of Morgan Stanley’s property business in Asia. He was recently named by PERE as one of the 100 most influential people in private real estate from the past decade. Mr. Kalsi serves on the board of several organizations, including the Spence School, Teaching Matters, the Starfish Foundation, Room to Read, the AHRC New York City Foundation, and the Asia Society. He is a member of the Young Presidents Organization and an adjunct professor at Columbia University in the master of real estate program. Mr. Kalsi has a degree in business administration from Georgetown University and is a member of the university’s Board of Regents.

Ashby Monk
Ashby Monk

Ashby Monk is the executive and research director of the Stanford Global Projects Center. He is also a senior research associate at the University of Oxford and a senior adviser to the chief investment officer of the University of California. Dr. Monk’s research and writing has been featured in numerous media outlets, including the Economist, the New York Times, the Wall Street Journal, the Financial Times, Institutional Investor, Forbes, and National Public Radio. His current research focus is on the design and governance of institutional investors, with particular specialization in pension and sovereign wealth funds. Dr. Monk holds a bachelor’s degree in economics from Princeton University, a master’s degree in international economics from the Université Paris 1 Panthéon-Sorbonne, and a PhD in economic geography from the University of Oxford.

Jim O’Shaughnessy
Jim O`Shaughnessy

Jim O’Shaughnessy is the founder, chairman, and chief investment officer of O’Shaughnessy Asset Management (OSAM). He is ultimately responsible for OSAM’s investment strategies and is an equity owner in OSAM and a member of the firm’s Executive Committee. Previously, Mr. O’Shaughnessy was the director of systematic equity and a senior managing director at Bear Stearns Asset Management. He has also served as the CEO and chairman of O’Shaughnessy Capital Management (Netfolio). Mr. O’Shaughnessy is the author of four books on investing: Invest Like the Best, What Works on Wall Street, How to Retire Rich, and Predicting the Markets of Tomorrow. He has been called a “world beater” and a “statistical guru” by Barron’s, and Forbes.com included him in a series on “Legendary Investors,” along with Benjamin Graham, Warren Buffett, and Peter Lynch. Mr. O’Shaughnessy was named “manager of the year” in Gordon Pape’s 2004 Buyers Guide to Mutual Funds for his management of the Royal Bank of Canada’s O’Shaughnessy Funds, and the Canadian Investment Awards named the RBC O’Shaughnessy U.S. Value Fund the “U.S. Equity Fund of the Year” two years in a row. He has a BA in economics from the University of Minnesota.

Bruce D. Phelps, CFA
Bruce D. Phelps CFA

Bruce D. Phelps, CFA, is a managing director of Institutional Advisory & Solutions for PGIM, the global investment management businesses of Prudential Financial, Inc. Previously, he was a managing director in the Quantitative Portfolio Strategy group at Barclays Capital/Lehman Brothers conducting client-based research on asset allocation, alternative benchmarks, risk modeling, liquidity measurement and evaluation of investment strategies. Prior to joining Lehman, Mr. Phelps was managing director and portfolio manager for Lehman Ark Asset Management where he was responsible for managing MBS and structured product portfolios and developing risk and performance attribution models. Previously, he was senior economist for the Chicago Board of Trade where he developed new futures and options contracts and the exchange’s electronic trading system. Mr. Phelps started his investment career as a credit analyst and foreign exchange trader for Wells Fargo Bank. He received an AB degree in economics from Stanford University and a Ph.D. in economics from Yale University.

Meredith Sumpter
Meredith Sumpter

Meredith Sumpter is head of research strategy and operations at Eurasia Group. She has more than 15 years of experience in policy, analysis, business, and management. Previously, Ms. Sumpter led strategic advisory for Fortune 500 clients across Asia, including in Indonesia, India, and China. Prior to that, she served as a diplomat, including in Beijing, where she advised two US ambassadors and analyzed politics, economics, and security issues for the policy community. Ms. Sumpter has held positions at the Asia Foundation and the International Crisis Group, as well as in the US Senate. She started her career working among business executives and engineers at a Fortune 100 multinational company, where she helped expand the company's product base worldwide. A regular speaker at conferences and to the media, Ms. Sumpter has experience steeped in both politics and strategy, spanning multiple regions and sectors including ICT, media and public relations, fast-moving consumer goods, healthcare, banking and finance, and commodities. She holds a double bachelor’s degree from the University of Washington and a master of science degree from the London School of Economics and Political Science.

Melanie Swan

Melanie Swan is a technology theorist in the Philosophy Department at Purdue University. She is also a faculty member at Singularity University and the University of the Commons, an affiliate scholar at the Institute for Ethics and Emerging Technologies, and an invited contributor to Edge’s Annual Essay Question. Ms. Swan is the founder of the Institute for Blockchain Studies, DIYgenomics, GroupPurchase, and the MS Futures Group. She has served as director of research at Telecoms Consultancy Ovum RHK and has held management and finance positions at iPass, J.P. Morgan, Fidelity, and Arthur Andersen. Ms. Swan serves as an adviser in academic, government, corporate, and startup settings. In addition, she is a hackathon participant and designs collaboration simulations. Ms. Swan is an Advisory Board member of the Foundational Questions Institute, the Lifeboat Foundation, and Acceleration Studies Foundation. She has a BA in French and economics from Georgetown University, an MBA in finance from the Wharton School of the University of Pennsylvania, an MA in philosophy from the New School for Social Research, and an MA in contemporary continental philosophy from the Centre for Research in Modern European Philosophy at Kingston University London and Université Paris 8.

Luis M Viceira
Luis M. Viceira

Luis M. Viceira's research focuses on asset allocation strategies for long-term investors, both individuals and institutions, and the management and organization of large institutional investors. Professor Viceira has published a number of articles, book chapters, and case studies, and he is co-author of the book Strategic Asset Allocation, which received the TIAA-CREF Paul Samuelson Award in 2003. His research has received numerous awards recognizing its contributions to the theory and practice of asset management, and in 2005 he received the Graham and Dodd Award from CFA Institute.

Walsh Anne
Anne B Walsh CFA

Anne B. Walsh, CFA, is senior managing director and chief investment officer, fixed income, at Guggenheim, where she serves as head of the Portfolio Construction Group and Portfolio Management and oversees fixed-income investments, including agencies, credit, municipals, and structured securities. She is responsible for portfolio design, strategy, sector allocation, and risk management, as well as conveying Guggenheim’s macroeconomic outlook to portfolio managers and fixed-income sector specialists. Ms. Walsh specializes in liability-driven portfolio management and has more than 30 years in the investment management industry. Previously, she served as chief investment officer at Reinsurance Group of America, Incorporated, and as vice president and senior investment consultant for Zurich Scudder Investments. She has also worked at Lincoln Investment Management and American Bankers Insurance Group. Ms. Walsh holds a BSBA and an MBA from Auburn University and a JD from the University of Miami School of Law.

James Ware, CFA
James Ware CFA

James Ware, CFA, is the founder of Focus Consulting Group, a firm dedicated to helping investment leaders leverage their talent. He has 20 years of experience as a research analyst, portfolio manager, and director of buy-side investment operations. Mr. Ware is also an industry author and has been a keynote speaker at CFA Institute, Mutual Fund Educational Alliance, Investment Adviser Association, U.S. Institute, and other major industry conferences on the subjects of investment leadership, culture, and building high-performing teams. His recent books, Investment Leadership: Building a Winning Culture for Long-Term Success and High Performing Investment Teams identify those elements of leadership and teamwork that lead to sustainable success for investment firms. Mr. Ware’s articles have been published in the CFA Institute Financial Analysts Journal® and the Journal of Portfolio Management. He has been a guest lecturer on the topic of investment firm management at the Kellogg Graduate School of Management at Northwestern University. Mr. Ware holds a degree in philosophy from Williams College, where he graduated Phi Beta Kappa, and a master’s in business from the University of Chicago.

Ed Yardeni
Ed Yardeni

Ed Yardeni is the president of Yardeni Research, Inc., a provider of global investment strategy and asset allocation analyses and recommendations. He previously served as chief investment strategist at Oak Associates, Prudential Equity Group, and Deutsche Bank’s US equities division in New York City. Dr. Yardeni has also served as the chief economist at CJ Lawrence, Prudential-Bache Securities, and EF Hutton. He has taught at Columbia University’s Graduate School of Business and was an economist at the Federal Reserve Bank of New York. Dr. Yardeni has also held positions at the Federal Reserve Board of Governors and the US Treasury Department. He frequently appears on CNBC and Bloomberg Television and is quoted in the financial press, including the Wall Street Journal, the Financial Times, the New York Times, and Barron’s. Dr. Yardeni is author of Predicting the Markets: A Professional Autobiography. He completed his undergraduate studies magna cum laude at Cornell University, received a master’s degree in international relations from Yale University, and earned his PhD in economics from Yale University.

Luigi Zingales
Luigi Zingales

Luigi Zingales is the Robert C. McCormack Distinguished Service Professor of Entrepreneurship and Finance at the University of Chicago Booth School of Business. He has served as the president of the American Finance Association and as the director of the Stigler Center at the University of Chicago. Professor Zingales’s research interests span from corporate governance to financial development and from political economy to the economic effects of culture. He has published extensively in major economics and financial journals. Professor Zingales is the coauthor of Saving Capitalism from the Capitalists and the author of A Capitalism for the People. Professor Zingales holds a bachelor’s degree in economics from Universitá Bocconi and a PhD in economics from the Massachusetts Insitute of Technology.

Agenda

Topics
  • Standards, Ethics, and Regulations

Monday, 23 July

Tuesday, 24 July

Wednesday, 25 July

Thursday, 26 July

Location

Venue

University of Chicago Gleacher Center

450 North Cityfront Plaza Drive
Chicago, Illinois 60611

+1-312-464-8787

Hotel

InterContinental Chicago

505 North Michigan Avenue
Chicago, Illinois 60611
USA

+1-800-628-2112

CFA Institute has arranged for a special group rate at the InterContinental Chicago. Reservations should be made directly with the hotel. You must refer to the “CFA Institute group” when contacting the hotel or apply the group code “VAA,” Reservations should be made by Monday, 25 June 2018 to take advantage of the discounted rate. The CFA Institute rate at the InterContinental Chicago is USD 239, subject to availability.

Book hotel reservation

Pricing

Group Price
CFA Institute Members and Candidates (CFA Program, CIPM, or Investment Foundations) USD 2995
Non-Members USD 3495
Group (three delegate minimum; additional discounts do not apply) USD 2495

What's Included

Morning coffee, refreshment breaks, lunches, networking receptions, the opportunity to meet with investment colleagues and speakers from around the world, access to presentation materials online, and conference materials.

Event Info

Payment is due at time of registration. Forms received without payment will be confirmed on a space-available basis when payment is received. All fees are payable in U.S. funds. Online payment can be made by Visa, MasterCard, and American Express. Please contact us to use a printable registration form. Attendance is limited. Please register early.

A cancellation fee of USD 250 applies for all cancellations made after 16 July 2018. No refunds will be issued for any cancellations received within 24 hours of program start. Sharing of registrations is not permitted. 
 
For groups, if a cancellation brings a group's delegate count below three, regular rates will apply to the remaining delegates and all cancellation fees and deadlines above will be applicable.

Please contact CFA Institute for services to accommodate a disability or to inform CFA Institute of any dietary restrictions. (Please include this information when you register for the conference.)

Casual attire is appropriate for this conference. 

Delegates are encouraged to share their insights and experiences at CFA Institute events on social media and blogs and may link to content on the CFA Institute website, unless otherwise noted (framing is not permitted). Delegates may not distribute, display, or post online any recordings, transcriptions, and/or copies of sessions at CFA Institute events without the express written permission of CFA Institute.

Any person attending a CFA Institute conference, seminar, or other program grants permission to CFA Institute to use and publish his or her image or likeness collected in connection with the program for any usual and customary purpose of CFA Institute including advertisements for CFA Institute and its programs.

CFA Institute does not assume responsibility or liability for stolen, lost, or damaged personal property.

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