Research Foundation Review Board


William J. Bernstein

William J. Bernstein is a principal of Efficient Frontier Advisors, LLC.

Elroy Dimson

Elroy Dimson FSIP, PhD

Elroy Dimson, FSIP, is emeritus professor of finance at London Business School and visiting professor of finance at Cambridge Judge Business School. He also serves as chair of the strategy council for Norwegian Government Pension Fund Global. Professor Dimson has co-authored several books, worked as editor at a number of journals, including the Journal of Finance and Journal of Investment Management, and contributed to the CFA Institute Investment Management Code of Conduct for Endowments, Foundations, and Charitable Organizations. He is also the recipient of the 2011 James R. Vertin Award from the Research Foundation of CFA Institute, for producing a body of research notable for its relevance and enduring value to investment professionals. Professor Dimson holds a PhD from London Business School.

Stephen Figlewski

William N. Goetzmann

William N. Goetzmann

William N. Goetzmann is Edwin J. Beinecke Professor of Finance and Management Studies and director of the International Center for Finance at Yale School of Management, New Haven, Connecticut.

Elizabeth R Hilpman

Paul Kaplan

Paul D. Kaplan CFA

Paul D. Kaplan, CFA, is director of research for Morningstar Canada and is a senior member of Morningstar’s global research team. He led the development of many of the quantitative methodologies behind Morningstar’s fund analysis, indexes, adviser tools, and other services. Kaplan conducts research on asset allocation, retirement income planning, portfolio construction, index methodologies, and other investment topics. Many of his research papers have been published in professional books and publications, such as the Financial Analysts Journal and the Journal of Portfolio Management, and he has served on the editorial board of the Financial Analysts Journal. Kaplan has received a Graham & Dodd Top Award and a Graham & Dodd Award of Excellence. Many of his works appear in his book Frontiers of Modern Asset Allocation. Previously, he has served as quantitative research director for Morningstar Europe in London, director of quantitative research in the United States, and chief investment officer of Morningstar Associates, LLC, where he developed and managed the investment methodology for Morningstar’s retirement planning and advice services. Previously, Kaplan was a vice president of Ibbotson Associates and served as the firm’s chief economist and director of research. Prior to that, he served on the economics faculty of Northwestern University, where he taught international finance and statistics. Kaplan holds a bachelor’s degree in mathematics, economics, and computer science from New York University and a master’s degree and doctorate in economics from Northwestern University.

Robert E. Kiernan III

Robert E. Kiernan III is chief executive officer of Advanced Portfolio Management LLC. Previously, he held management positions at Salomon Brothers and Lehman Brothers, where he was also a member of multiple investment, commitment, and operating committees. Mr. Kiernan is a member of the Research Review Board of the Research Foundation of CFA Institute. He holds AB and AM degrees from Boston College, as well as an MBA from the University of Chicago.

Andrew Lo

Andrew W. Lo

Charles E. and Susan T. Harris Professor of Finance​ and Director, Laboratory for Financial Engineering, Sloan School of Management, MIT

Andrew W. Lo is Charles E. and Susan T. Harris Professor of Finance at the MIT Sloan School of Management and the director of MIT’s Laboratory for Financial Engineering. He focuses his research on the fundamental aspects of investments and financial markets, including the measurement of illiquidity risk in hedge fund returns, the growth of systemic risk in the hedge fund industry, and most recently, evolutionary and neurobiological models of individual risk preferences and financial markets. Before joining MIT’s finance faculty, Mr. Lo taught at the University of Pennsylvania’s Wharton School. He has published numerous articles and books on finance and economics. Mr. Lo received his PhD in economics from Harvard University.

Alan J. Marcus

Paul O'Connell

Krishna Ramaswamy

Andrew Rudd

Stephen C. Sexauer

Stephen C. Sexauer is CIO, San Diego County Employees Retirement Association.

Lee R. Thomas

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