Richard J. Herring Faculty Profile

Richard J. Herring
Jacob Safra Professor of International Banking; Professor of Finance
Co-Director, Wharton Financial Institutions Center

PhD, Princeton University, 1973; MA, Princeton University, 1970; BA, Oberlin College, 1968

Research Areas
International banking; international finance; money and banking

Current Projects
The regulation of financial conglomerates. Resolution policy in an international context. Liquidity shocks in the subprime securitization markets. The known, the unknown and the unkownable in the financial risk management.

Academic Positions Held
Wharton: 1972-present (Director, The Joseph H. Lauder Institute of Management and International Studies, 2000-2006; Co-Director, Wharton Financial Institutions Center, 2000-present; Vice Dean and Director, Wharton Undergraduate Division, 1995-2000; Director, Financial Institutions Center, 1988-95; Director, Program in International Banking and Finance, 1982-88). Previous appointment: Princeton University. Visiting appointment: Johann Wolfgang Goethe University, Germany

Career and Recent Professional Awards; Teaching Awards
David Hauck Award for Outstanding Teaching, 1995; Undergraduate Division Excellence in Teaching Award, 1990, 1992, 1995

Professional Leadership 2005-2009
Co-editor, Brookings-Wharton Papers on Financial Services (2001-2004); Editorial Board, Journal of Financial Services Research, 1989-2000; Editorial Board, Journal of International Financial Markets, Institutions and Money, 1988-1998; Editorial Board, Research in Financial Services: Private and Public Policy Annual, 1991-present; Editorial Board, Quarterly Review of the Federal Reserve Bank of New York, 1994-present; Member, Shadow Financial Regulatory Committee, 1990-present; Co-Chair, 2004-present. Member, Multinational Banking Seminar, 1982-2005, American Chairman, 1992-2005. Financial Economists Roundtable, 2000-present.

Corporate and Public Sector Leadership 2005-2009
Trustee, DWS Scudder Funds, 1990-present. Trustee, Daiwa Country Funds, 2007-present.

Representative Publications
“Common Liquidity Shocks and Market Collapse: Lessons from the Market for Perps,” (with C. Fernando and A. Subrahmanyam), Journal of Banking and Finance, 2008 “The Case of the Missing Market: the Bond Market & Why it Matters for Financial Development, (with N. Chatusripitak) in L. Klein and T. Shabbir (eds.) Recent Financial Crises: Analysis, Challenges, and Implications, Edward Elgar Publishing, 2006, pp. 148-194. “Implementing Basel II: Is the Game Worth the Candle?” Financial Markets, Institutions & Instruments, Vol. 14, Number 5, 2005