Subject Matter Experts

Our courses are created with the industry's most respected subject matter experts. All are prominent leaders in their fields, and possess significant line and teaching experience.

Here is a sampling of some our subject matter experts. To see a complete biography, as well as the courses to which each have contributed, click on the name:

Dr. Aswath Damodaran
Professor, New York University, Wall Street Educator

James R. Davis
President, Wall Street Training Ltd.

Hugo Forster
President, Securities and Derivatives Training Corporation

Kenneth Garbade, Vice President, Capital Markets Research, Federal Reserve Bank, New York, Wall Street Educator

Jeffrey J. Glibert
Senior Vice President, Credit Risk Management, Bank of America, Practitioner

Seido Kanaya
Financial Consultant, Practitioner

Kenneth R. Kapner
Financial Consultant, Practitioner

Ed Kowalcyk
Vice President of the Latin American Division, Citigroup

Chip Macbeth
Principal, Wall Street Training, Ltd.

Frank McConnell

Alastair Matchett
Principal, Adkins, Matchett & Toy, Wall Street Educator, Author

Amy Rudnick
Partner, Gibson, Dunn & Crutcher

Sam L. Savage
Consultant, Lecturer and President, AnalyCorp, Practitioner

Ronald T. Slivka
Consultant for AAFT

Neale Steiniger

Dr. Suresh Sundaresan
Professor, Columbia University, Wall Street Educator

Evelina Tainer
Commentator, Author and Chief Economist, Econoday

Ben Warwick
Principal, Bornhoft Group, Practitioner

David Weiss
Principal, Jeremiah Associates

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Dr. Aswath Damodaran

Was the senior advisor to the content development team for the Corporate Finance series. His book, TITLE OF BOOK, on corporate finance was published by John Wiley and Sons in conjunction with Zoologic's release of the Corporate Finance series. He is also the author of two other books: Damodaran on Valuation and Investment Valuation.

He has been a professor at New York University since 1986, and received its Stern School of Business Excellence in Teaching Award in 1988, 1991 and 1992. In 1990, he became the youngest winner of the university-wide Distinguished Teaching Award. BusinessWeek magazine profiled him as one of the top twelve business school professors in the United States in 1994.

Dr. Damodaran holds an MS, an MBA and a PhD from the University of California, Los Angeles. His research interests include the examination of market efficiency, the effects of information and market structure characteristics, equity valuation, and issues in real estate investing.

Courses Developed: Introduction to Equity Valuation, Equity Valuation - FCFF Model, Introduction to Corporate Finance, Capital Asset Pricing Model, Cost of Capital, Introduction to Capital Budgeting, Capital Budgeting - Deriving the Cash Flows, Capital Structure, Dividend Policy

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James R. Davis

Spent 13 years with the New York Stock Exchange, the last four as a director responsible for formulation and preparation of all exchange-required examinations, including Series 7. On leaving the Exchange, he became a vice president in compliance and training at Salomon Brothers and later a general partner of a major investment management firm. He became a partner in Wall Street Training in 1983 and purchased the firm in 1988, in order to redirect its focus to customized training programs.

Mr. Davis has taught courses covering the spectrum from basic securities industry knowledge to sophisticated investment management concepts, as well as specialized product training. His clients include some of the largest private banks in the world, major domestic and international money center banks, and brokerages. He has conducted courses across the United States, South America, Europe, the Middle East and Asia.

Courses Developed: Investing in Equity, Investing in Bonds, Alternative Investments, Investing in Money Market Instruments, Managing Client Expectations, Investment Principles, Asset Allocation

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Hugo Forster

Joined SBC Warburg in Zurich, Switzerland, after completing his MBA in International Trade and Finance at Heriot Watt University, Edinburgh, UK. At SBC Warburg he spent time on various derivatives desks before joining the Training Group as a securities industry trainer for the European and Asian regions. In that capacity, he trained intermediate to advanced audiences in Hong Kong, Tokyo, Singapore, London and Zurich.

Mr. Forster relocated to New York to train the 1,500 new hires employed as a result of SBC Warburg�s head office move from New York to Stamford, CT. Later, he was invited to join Salomon Brothers to develop and deliver their first firm-wide securities ongoing training curriculum. His responsibilities also included the training of all new MBA recruits in Salomon Brothers' annual Analyst and Associate Training Program.

In 1997, Mr. Forster founded the Securities and Derivatives Training Corporation, which focuses on product training for all new analyst and associate recruits at securities firms. Today he delivers cutting-edge programs for groups such as investment bankers, private banking and wealth management associates, finance analysts, technology analysts, summer analysts and associate interns.

Mr. Forster authored the Trade Operations literature for computer-based training developed by Intuition Publishing in consortium with Goldman Sachs, Lehman Brothers and Citicorp. Subsequent to the 1998 Long Term Capital Management and Russian default debacle, he was commissioned by the Merrill Lynch board of directors to train all senior staff globally in areas such as securities industry risk, fixed income risk and derivatives risk. After the merger of Bank of America and NationsBank, he was appointed to train their commercial bankers in preparation for being reassigned to the securities and investment banking businesses. Mr. Forster is currently a consultant to AAFT.

Mr. Forster is fluent in four languages: English, German, Afrikaans and Swiss-German.

Courses Developed: Introduction to Credit Derivatives: Part One, Introduction to Credit Derivatives: Part Two

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Kenneth Garbade

Is currently the Vice President of Capital Markets Research with the Federal Reserve Bank of New York. Prior to this, he was the Managing Director of Derivatives Analytics at Bankers Trust Company and a Clinical Professor of Finance at the Stern School of Business, New York University. His professional background includes 15 years of experience in analytics research and bond market research.

Dr. Garbade has authored two books, Fixed Income Analytics, published by MIT Press, and Securities Markets, published by McGraw-Hill. He holds a PhD in Economics from Princeton University.

Courses Developed: Introduction to Bonds, Bond Yield, Bond Duration, Portfolio Duration, Bond Price Sensitivity, The Fixed-Income Repo Market, US Treasury Bond Auctions, Treasury Inflation-Protected Securities (TIPS)

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Jeffrey J. Glibert

Is currently a Senior Vice President in Credit Risk Management at Bank of America, covering the leveraged lending and high yield markets. Prior to that, Mr. Glibert spent more than 25 years at Bankers Trust Company, where he most recently served as Managing Director and Head of Capital Markets Credit Risk Management. In addition to managing counterparty credit risk, he was also responsible for developing the credit training program and for teaching credit risk to new trainees. Mr. Glibert held a variety of positions while at Bankers Trust, including positions in Work Out, Trade Finance and the London Branch, as well as positions responsible for marketing and structuring leveraged buyouts in the Leveraged and Structured Finance Group. He is a member of the Board of Governors of the New York Chapter of the Robert Morris Association and holds an MBA from the University of Southern California.

Courses Developed: Introduction to Credit Risk, Portfolio Management of Credit Assets

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Seido Kanaya

Graduated from the Department of Law at the University of Tokyo in 1980, and pursued further graduate studies at the Department of Political Science at the University of Chicago from 1980 through 1986.

Courses Developed: Time Value of Money, Yield, Yield Analytics, Introduction to Securities Markets, Short-Term Debt Securities, Long-Term Debt Securities, Introduction to Foreign Exchange, Introduction to Forwards and Futures, Futures Instruments, Introduction to Swaps, Interest Rate Swaps, Currency Swaps, Asset Swaps, Introduction to Options, Introduction to Option Pricing Theory, Tools for Evaluating Options

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Kenneth R. Kapner

Spent 14 years with the HSBC (Hong Kong and Shanghai Banking Corporation) Group in the Treasury and Capital markets area where he traded a variety of instruments, including interest rate derivatives, spot and forward foreign exchange, and money markets. He also managed the balance sheet, sat on the Asset Liability Committee, and was responsible for the overall Treasury activities of the bank. He spent two years in Hong Kong where he was in charge of Global Treasury and Capital Markets Product training. His responsibilities included developing new courses and delivering courses to traders, support staff and relationship managers. In New York, Mr. Kapner established a training department for the firm�s Securities Division, where he was in charge of the MBA Associates Program, continuing education and Section 20 license. He currently runs his own training and consulting firm, Global Financial Markets Institute (GFMI). A sample of clients includes The Federal Reserve, Fidelity�s Treasury and Capital Markets unit, DG Bank, Lehman Brothers, Commerzbank, and the National Credit Union Association. He has co-authored or co-edited seven books on derivatives, including The Swaps Handbook and Understanding Swaps. Mr. Kapner sits on the Board of Advisors for the International Association of Financial Engineers.

Courses Developed: Hedging Equity with Futures and Options, Asset-Backed Securities, Mortgage-Backed Securities

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Ed Kowalcyk

Is an 18-year veteran of Citigroup/Citibank New York. During his tenure, he has worn many hats; currently, he acts as Vice President of the Latin American division, where he heads the Business Risk Management Department and the Investment Center. He has also directed Risk and Compliance in the U.S. and Western Hemisphere divisions. Other responsibilities have included VP of Corporate Audit as well as Division General Counsel.

Mr. Kowalcyk earned a JD in Law at New York Law School, an MBA from the University of Pennsylvania, Wharton Graduate School of Finance, and a BS from the University of Pennsylvania. He has obtained both Series 7 and 63 Registrations.

Courses Developed: Anti-Money Laundering (reviewer)

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Chip Macbeth

Served in a number of roles with Citibank's Private Bank, with a focus on the investment activities of wealthy U.S. and international clients. Over his 30-year career, he was a portfolio manager, product developer, private banker, sales manager, and head of trust, estates and investments for the eastern half of the U.S. His most recent responsibility was for portfolio counseling, the design of asset allocations for Citibank's global client base, and the management of a team of investment professionals who worked with a select group of clients. Before that, he created an ongoing six-week training program for new private bankers; he also managed the program and participated in the training.

Courses Developed: Investing in Equity, Investing in Bonds, Alternative Investments, Investing in Money Market Instruments, Managing Client Expectations, Investment Principles, Asset Allocation, The Human Side of Investing

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Frank McConnell

Has more than 30 years of experience as a Credit Officer for Citibank, N.A. As Senior Credit Officer at Citi�s Private Banking Group, he was responsible for encouraging, monitoring and controlling extension of credit from the Private Bank's Western Hemisphere offices in New York, Miami, Houston, Mexico City, Sao Paolo, Buenos Aires and Santiago. Prior to this, Mr. McConnell was part of the Corporate Banking Group, working as a credit officer in various assignments in Latin America and the Middle East.

Courses Developed: Credit Analysis for High Net Worth Individuals, Lending Against Marketable Securities

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Alastair Matchett

Started his career in JP Morgan's London advisory unit after attending the internationally renowned Morgan Finance Program in New York. He worked on a variety of different industries, including financial institutions and oil and gas companies. Mr. Matchett went on to manage a portfolio of private equity investments for Investors in Industry (3i) and negotiate equity financing for leveraged buy-outs.

In 1997, Mr. Matchett, with Kathleen Adkins and Dr. Norman Toy, formed Adkins & Matchett, a financial training company providing leading-edge materials and instructional services to global investment banks in New York and London. He is the author of Introduction to Accounting for Finance, an introductory accounting text used at three of the top four leading investment banks, and has taught hundreds of BA and MBA recruits to Wall Street and the City of London.
Mr. Matchett received a Bachelors degree in Economics and Politics from Bristol University and went on to receive an MSc in Foreign Policy and Domestic Politics.

Courses Developed: The Balance Sheet, Income Statement, Current Assets, Long-Term Assets, Liabilities and Equity, Working Capital, Income Statement Analysis, Cash Flow Statement, Ratio Analysis, UK Accounting

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Amy G. Rudnick

Is a partner with the law firm Gibson, Dunn & Crutcher. Ms. Rudnick is part of the firm�s financial institutions and white collar practices, with a concentration in internal investigations, bank fraud litigation, and criminal, civil and regulatory proceedings involving the federal money laundering statutes, the Bank Secrecy Act, and the Internal Revenue Service's cash reporting requirements.

Prior to joining Gibson, Dunn & Crutcher, Ms. Rudnick was the Director of the Office of Financial Enforcement at the Department of Treasury in Washington, D.C., where she served as the Department's leading expert on all Bank Secrecy Act and domestic and international money laundering matters. Previously, Ms. Rudnick was a trial attorney in the Department of Justice, Criminal Division, where she prosecuted and conducted long-term grand jury investigations of major drug traffickers.

Ms. Rudnick is a frequent speaker, lecturer and writer on the Bank Secrecy Act, money laundering and asset forfeiture issues, and is a member of the American Bar Association, the D.C. Bar Association and the D.C. Women's Bar Association.

Courses Developed: Anti-Money Laundering

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Sam L. Savage

Received his PhD in computer science from Yale University in 1973, specializing in Combinatorial Optimization. After a year at General Motors Research Laboratory, he joined the faculty of the University of Chicago Graduate School of Business, with which he was affiliated until 1990. In 1976, he changed sides and did highly publicized work in the field of Combinatorial Obfuscation, developing the SHMUZZLE™ Puzzle, a tessellation-based jigsaw puzzle inspired by M.C. Escher.

In 1985, he led the development of What'sBest!, which coupled Linear Programming to Lotus 1-2-3 with ten keystrokes. Thus began his quest to bring down the algebraic curtain separating managers from management science. He won PC Magazine's Technical Excellence Award in 1986 for this work. In 1990, Dr. Savage moved to Stanford, where he currently teaches and directs the Industrial Affiliates Program in the Department of Management Science and Engineering at the University of Connecticut.?

Duxbury Press has recently published his INSIGHT.xla "Business Analysis Software for Microsoft Excel". In his foreword to this work, Harry Markowitz, a Nobel Laureate in Economics, says, "Rarely has such sound theory been provided in such an entertaining manner." PC Week called INSIGHT.xla "Savage Onslaught Against the Algebraic Curtain". In its review of INSIGHT.xla, OR/MS Today says, "without question, the leader of the management science in spreadsheets movement is Sam Savage".

Dr. Savage consults and lectures extensively to business and government agencies and is the founder and president of AnalyCorp Inc. (www.AnalyCorp.com), a firm that develops executive education programs and software for improving business analysis. His home page is www.stanford.edu/~savage.

Courses Developed: Understanding Uncertainty: An Intuitive Approach to Probability and Statistics

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Ronald T. Slivka

Is an independent provider of training, consulting and contract marketing services, specializing in derivative solutions and structured financial transactions. Derivatives employed include futures, forwards, swaps, options and ETFs in both developing and developed global financial markets.

His clients include investment banks, money managers, U.S., Canadian and Latin American pension funds, global futures and securities exchanges, broker/dealers and software developers. Dr. Slivka has held equity derivative sales management positions at Salomon Brothers, JP Morgan and ING Barings. There, he assisted major financial clients in the Americas with the uses of portfolio trading, equity derivatives, quantitative strategies and risk management.

He is an Adjunct Professor in the Financial Engineering Program at the Graduate School of New York's Polytechnic University. Dr. Slivka has written more than 25 articles covering derivatives and portfolio trading topics in developed and emerging markets. He has a BS in Physics from Carnegie-Mellon University as well as MS and PhD degrees in Physics from the University of Pennsylvania.

Courses Developed: Introduction to Equity Derivative Strategies, Equity Derivative Strategies: Profit/Loss Analysis

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Neale Steiniger

Is the President and founder of NeueSchaffen & Co., a consulting firm specializing in the development of customized educational programs; it also advises firms in international securities markets' trading and settlement procedures. Ms. Steiniger has held sales and trading positions at Merrill Lynch and management positions in the international settlements department at BZW Securities. She is the co-author of The Handbook of Global Securities Operations.

Courses Developed: Life of a Trade: Global

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Dr. Suresh Sundaresan

Acted as senior advisor to the content development team for the Risk Management series. He is the author of Fixed Income Markets and Their Derivatives (Current Issues in Finance).

Dr. Sundaresan teaches finance and economics at Columbia University's Graduate School of Business, where he is the Chase Manhattan Bank Foundation Professor. He has served as a senior strategist at Lehman Brothers. His current research focuses on corporate debt, auctions and derivatives. Dr. Sundaresan has conducted training programs for Goldman Sachs, Credit Suisse, Barclays, Lehman Brothers and Morgan Stanley. Dr. Sundaresan received his PhD from Carnegie-Mellon University in 1980.

Courses Developed: Portfolio Returns, Portfolio Diversification, Portfolio Risk, Probability Distribution of Returns, Value-at-Risk, Introduction to Monte Carlo Simulation, Monte Carlo Simulation and VAR

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Evelina Tainer

Is chief economist at Econoday, where she is responsible for all economic content in printed and online products. Her written contributions focus on the domestic economy and its relationship to financial markets through intraday analysis, as well as weekly and monthly articles for Econoday Online.

Ms. Tainer has spent nearly 20 years in the forecasting business. Her widely acclaimed book, Using Economic Indicators to Improve Investment Analysis, 2nd Edition, resulted from her daily interaction with traders and investors in the cash and futures markets. Ms. Tainer is a frequent commentator on television, business wire services, newspapers and radio shows; a regular columnist for a major financial wire service (Market News International); and a frequent contributor to Your Money, a bimonthly magazine for individual investors. She is also a consultant to the Supervision and Regulation Division of the Federal Reserve System of the Board of Governors. Ms. Tainer pioneered the course "A Banker's Guide to Economic Indicators" for senior bank examiners in 1992 and it has remained an integral part of the banking school program for Federal Reserve examiners ever since. She has taught economics and finance at several Chicago-area universities, including Northwestern University, and is currently adjunct professor at the University of Illinois at Chicago.

Courses Developed: The Fundamentals of Economic Indicators

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Ben Warwick

Is a principal of The Bornhoft Group, a registered investment advisor that specializes in alternative investments, and Warwick Capital Management, a quantitative trading firm. He is the Quant View columnist for worldlyinvestor.com, a leading financial website, and he serves on the editorial board of the Journal of Alternative Investments. Mr. Warwickï's most recent book is Searching for Alpha: The Quest for Exceptional Investment Performance, which explores the development of value-added investment strategies. He is also the author of The Futures Game,The Handbook of Managed Futures and Event Trading: Profiting from Economic Reports and Short-term Market Inefficiencies. Mr. Warwick received a Bachelor of Science in Chemical Engineering from the University of Florida and an MBA from the University of North Carolina.

Courses Developed: Introduction to Economic Profit, Calculating Economic Profit, Introduction to Portfolio Management

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David Weiss

Is a recognized industry expert in middle- and back -office transaction processing. He has authored various articles, papers and books, including the industry standard, After the Trade Is Made. The third edition of this acclaimed book was released in 2003. Known for his domain expertise in mission-critical capital and financial markets practices and systems, Mr. Weiss provides consulting and training services to clients throughout the global markets.

Courses Developed: Life of a Trade: Domestic

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