Brian Charles Gendreau
6605 SW 37th Way
Gainesville, FL 32608-5155
(352) 846-0273 (201) 738-6311 cell
brian.gendreau@warrington.ufl.edu website: bgendreau.com
Experience:
8/14 – present University of Florida
Clinical Professor and Richardson Faculty Fellow, Department of Finance, Insurance and Real Estate, Warrington College of Business.
Teaching responsibilities include courses in asset allocation and investment strategy, corporate finance, emerging markets finance, and
international finance. Named Warrington College of Business Administration International Educator of the Year, Fall 2015.
4/15 – present Director, Latin American Business Environment program, Center for Latin American Studies. Administrative responsibilities include
coordinating the program’s interdisciplinary curriculum, recruiting, outreach to the business community, recruiting, and producing the
annual Latin American Business Environment report. Teaching responsibilities include a course in Latin American business and economic
environment and a tutorial on Latin American political economy.
8/09 – 8/14 William A. Hough Visiting Professor of Finance, Department of Finance, Insurance, and Real Estate, Warrington College of Business Administration.
10/04 – 1/09 ING Investment Management
Investment Strategist and member of the Asset Allocation Committee. Responsible for helping formulate and market the investment strategy
for $18 billion in asset allocation and balanced funds. Member of the firm’s asset allocation committee. Co-manager of ING’s Strategic Allocation mutual funds. Principal author of the monthly Asset Allocation Views and Market Review reports.
10/02 – 10/04 Heckman Global Advisors (now a division of DCM Advisors).
Managing Director, principally responsible for managing the group’s global and emerging market equity allocation products. Duties included managing
consulting projects in country and sector allocation for global fund managers.
5/97 – 10/02 Salomon Smith Barney
Director and Market Strategist, responsible for managing the Global Asset Allocation group’s global and emerging market products. Principal author of the All-Country Equity Allocator and Emerging Market Equity Allocator, monthly publications providing country allocation recommendations for investors.
Salomon Smith Barney’s Global Asset Allocation group was voted either number one or number two in asset allocation in Institutional Investor’s Global Research Team polls during 1999-2002, and was voted number one in Quantitative Analysis in the 2000 poll.
1/86 – 4/97 JP Morgan & Co.
Vice President and economist. Editor of the Daily Economic Briefing, and co-editor of Global Data Watch and Global Markets.
Vice President and head of JP Morgan’s Emerging Market Economics group, supervising 11 professionals worldwide. Editor of the quarterly Emerging Markets Economic Outlook and the Emerging Markets Economic Weekly.
Voted number one in Latin American macroeconomics in Institutional Investor’s Latin America Research Team survey, June 1993.
Vice President, Economic Research Department. Responsible for analyzing regulatory and competitive issues in international financial markets.
Drafted speeches and testimony for the Chairman, Vice Chairman, and President of the bank.
8/81 – 12/85 Federal Reserve Bank of Philadelphia
Economist, Banking and Financial Markets Section, Research Division. Duties included current analysis and applied research in banking and
securities markets.
8/76 – 8/79 Board of Governors of the Federal Reserve System
Economist, Financial Studies Section, Division of Research and Statistics. Worked on long-term research on policy issues in banking.
Education: The Wharton School, University of Pennsylvania. Ph.D. in Business Economics, 1990. Concentration in monetary economics and econometrics.
Johns Hopkins University, School of Advanced International Studies. M.A. with Distinction, May 1976. Concentration in international economics
and Latin American studies.
Northwestern University. B.A. in economics, June 1973. Attended on the Oliver Bishop Harriman Scholarship of the American Foreign Service
Association.
Teaching Adjunct Associate Professor, Finance Department, Stern School of Business, New York University, 1989-2009. Courses taught included
experience: financial institutions, money and banking, and emerging markets finance.
Lecturer, Finance Department, The Wharton School, 1983-85. Taught commercial bank management.
Publications:
Refereed “Sovereign Spreads and Emerging Market Equity Returns,” with Leila Heckman, Journal of Portfolio Management (Fall 2003).
“The Risk Structure of Postbellum U.S. Deposit Rates,” Explorations in Economic History, vol. 36 (October 1999).
“Carrying Costs and Treasury Bill Futures,” Journal of Portfolio Management, vol. 12, no.1 (Fall 1985).
“The Implicit Returns on Bankers’ Balances,“ Journal of Money, Credit, and Banking, vol. 15, no. 4 (November 1983).
“Feedback Effects in the Market Regulation of Bank Leverage: A Time Series and Cross-Section Analysis,” Review of Economics
and Statistics, vol. 62, no. 2 (May 1980).
“Bankers’ Balances, Demand Deposit Interest, and Agricultural Credit before the Banking Act of 1933,” Journal of Money, Credit and
Banking, vol.11, no. 4 (November 1979).
Not refereed Latin American Business Environment Report, Center for Latin American Studies,
with Tim McLendon, University of Florida , 2016, 2017, 2018.
“Mid-term Elections and the Stock Market,” Financial Network Investment Notes (October 2010).
“The Political Cycle and Stock Market Performance,” ING Insights (July 2006)
“Estimating the Equity Premium across Countries,” Salomon Smith Barney (October 23, 2002).
“Running with the Bulls: Using Information on Emerging Market Mutual Funds’ Holdings in
Asset Allocation,” Salomon Smith Barney (January 25, 2002).
“Sovereign Spreads, Crises, and Emerging Market Equity Returns.” Salomon Smith Barney (September 10, 2001).
“Reducing Risk in an Emerging Markets Portfolio: Strategies to Limit Losses in Falling
Markets,” Salomon Smith Barney (March 20, 2001).
“Turning Volatility to Advantage: Using Volatility and Downside Risk in Deciding How Much to
Allocate to the Emerging Markets,” Salomon Smith Barney (February 16, 2001).
“Flowing My Way? Using Mutual Fund Flow Data in International Asset Allocation,” Salomon Smith Barney (November 30, 1999).
“Interest Rates and Country Allocation Strategies,” (with Leila Heckman) in Ross Paul Bruner, ed., Global Equity Selection Strategies.
Chicago: Glenlake, 1998).
"Sharper Estimates of Policy Rates from Futures,” (JP Morgan), August 1996.
“The Future of the German Government Bond Market: Proposals for Change” (with Richard Roll), JP Morgan, December 22, 1995.
“Modeling the High-Yielders: Australia and Canada,” JP Morgan Markets Research note,
December 6, 1995.
“Risk Premia in U.S. Treasuries,” J.P. Morgan, Markets Research note, November 30, 1995.
“East Asia’s Shifting Sources of Growth,” Economic Research note, JP Morgan Emerging Markets Economic Weekly, March 11, 1994.
Comment on Yakov Amihud’s “Exchange rates, the macroeconomic environment, and the firm,” in Yakov Amihud and Richard Levich,
Exchange Rates and Corporate Performance. New York: NYU Press, 1994.
“Growth and Investment in Latin America,” World Financial Markets (J. Morgan), July/August 1992.
“U.S. Deposit Insurance Reform,” World Financial Markets (JP Morgan), Issue 1, January 25, 1991.
“Wrestling with Glass-Steagall,” The World in 1990 (Economist annual survey), 1990.
“The Future of the U.K. Gilt-edged Market: Proposals for Change,” Current Economic
Issues (JP Morgan), Special Issue, March 7, 1989.
“Canada’s Financial Liberalization,” Morgan Economic Quarterly (December 1987).
“Trading Foreign Securities through ADRs,” Morgan Economic Quarterly (March 1987).
“Regulating Risk in Banking,” Morgan Economic Quarterly (September 1986).
“Focus on: Swaps,” Morgan Economic Quarterly (June 1986). Reprinted as “Interest Rate and Currency Swaps,” Commercial
Lending Review, vol. 1, no. 4 (Fall 1986).
“The Private Costs of Bank Failures: Some Historical Evidence,” Federal Reserve Bank of Philadelphia Business Review (March/April 1986).
“New Markets in Foreign Currency Options,” Federal Reserve Bank of Philadelphia Business Review (July/August 1984). Reprinted in
Robert E. Baldwin and David Richardson, eds., International Trade and Finance: Readings, 3rd Edition (Boston: Little Brown and Co., 1985).
“Is the Prime Rate Still First Choice? Federal Reserve Bank of Philadelphia Business Review (May/June 1983) Reprinted in Kinyu
(Federation of Bankers Associations of Japan, may 1984).
“The Regulation of Bank Trading in Interest Rate Futures,” in Below the Bottom Line: The Use of Contingencies and Commitments by
Commercial Banks. Staff Studies No. 113, Board of Governors of the Federal Reserve System (January 1982).
Working papers:
“The Discount Window and the Great Depression,” January 2018.
“CVaR-LASSO Enhanced Index Replication (CLEIR): Outperforming by Minimizing Downside Risk,” with Yong (Jimmy) Jin, Mahendrarajah
Nimalendran, and Xiaolong Zhong, July 2016).
“A New U.S. Corporate Bond Index for the Interwar Years,” April 2013. Presented at the International Atlantic Economic Association Meetings,
Vienna, April 2013.
“ Federal Reserve Credit Policy and the Great Depression,” Presented at International Atlantic Economic Association Meetings, Washington, D.C.
September 2011.
On-line media:
“Trump nods to Cuban exiles, rolls back ties: Experts React – Bad for Business?” The Conversation, June 16, 2017.
https://theconversation.com/trump-nods-to-cuban-exiles-rolls-back-ties-experts-react-79559
“What Castro’s death and Trump’s election mean for Cuba’s economic awakening,”The Conversation, December 14, 2016. https://theconversation.com/what-castros-death-and-trumps-election-mean-for-cubas-economic-awakening-69820
“Is there life after death for Puerto Rico?” The Huffington Post, July 3, 2016 and The Conversation, June 30, 2016
http://www.huffingtonpost.com/the-conversation-us/is-there-life-after-debt_b_10793544.htmland
“Can Puerto Rico escape its $72 billion debt trap and avoid Greece’s fate? The Conversation, May 11, 2016.
https://theconversation.com/can-puerto-rico-escape-its-72-billion-debt-trap-and-avoid-greeces-fate-59127
“As Obama makes historic visit, is Cuba ready for change? with William A. Messina, The Conversation, March 21, 2016.
https://theconversation.com/as-obama-makes-historic-visit-is-cuba-ready-for-change-56399 Reprinted in Huffington Post and
New Republic.com.
Media: Appeared regularly as a market strategist for ING on CNBC, Bloomberg TV (hosted Open Exchange show twice), and Fox Business News.
Interviewed frequently on Bloomberg radio and NPR. Quoted frequently in major financial news publications, including the Wall Street Journal,
New York Times, and the Financial Times.
Consulting: Provided a valuation for Banco do Brazil mortgage notes issued in 1957 on behalf of a client of Juan Crena. P.A., September 2016.
Served as a Market Strategist on a consulting basis for Cetera Investment Management, the asset management unit of Cetera Financial
Group, a Los Angeles financial advisory and brokerage firm with over $190 billion in assets under administration, 2010-15.
Consultant to EPFR Global, a provider of asset allocation and fund flow data to international market participants, 2011.
Languages: Spanish, since childhood.
French, reading ability.
6605 SW 37th Way
Gainesville, FL 32608-5155
(352) 846-0273 (201) 738-6311 cell
brian.gendreau@warrington.ufl.edu website: bgendreau.com
Experience:
8/14 – present University of Florida
Clinical Professor and Richardson Faculty Fellow, Department of Finance, Insurance and Real Estate, Warrington College of Business.
Teaching responsibilities include courses in asset allocation and investment strategy, corporate finance, emerging markets finance, and
international finance. Named Warrington College of Business Administration International Educator of the Year, Fall 2015.
4/15 – present Director, Latin American Business Environment program, Center for Latin American Studies. Administrative responsibilities include
coordinating the program’s interdisciplinary curriculum, recruiting, outreach to the business community, recruiting, and producing the
annual Latin American Business Environment report. Teaching responsibilities include a course in Latin American business and economic
environment and a tutorial on Latin American political economy.
8/09 – 8/14 William A. Hough Visiting Professor of Finance, Department of Finance, Insurance, and Real Estate, Warrington College of Business Administration.
10/04 – 1/09 ING Investment Management
Investment Strategist and member of the Asset Allocation Committee. Responsible for helping formulate and market the investment strategy
for $18 billion in asset allocation and balanced funds. Member of the firm’s asset allocation committee. Co-manager of ING’s Strategic Allocation mutual funds. Principal author of the monthly Asset Allocation Views and Market Review reports.
10/02 – 10/04 Heckman Global Advisors (now a division of DCM Advisors).
Managing Director, principally responsible for managing the group’s global and emerging market equity allocation products. Duties included managing
consulting projects in country and sector allocation for global fund managers.
5/97 – 10/02 Salomon Smith Barney
Director and Market Strategist, responsible for managing the Global Asset Allocation group’s global and emerging market products. Principal author of the All-Country Equity Allocator and Emerging Market Equity Allocator, monthly publications providing country allocation recommendations for investors.
Salomon Smith Barney’s Global Asset Allocation group was voted either number one or number two in asset allocation in Institutional Investor’s Global Research Team polls during 1999-2002, and was voted number one in Quantitative Analysis in the 2000 poll.
1/86 – 4/97 JP Morgan & Co.
Vice President and economist. Editor of the Daily Economic Briefing, and co-editor of Global Data Watch and Global Markets.
Vice President and head of JP Morgan’s Emerging Market Economics group, supervising 11 professionals worldwide. Editor of the quarterly Emerging Markets Economic Outlook and the Emerging Markets Economic Weekly.
Voted number one in Latin American macroeconomics in Institutional Investor’s Latin America Research Team survey, June 1993.
Vice President, Economic Research Department. Responsible for analyzing regulatory and competitive issues in international financial markets.
Drafted speeches and testimony for the Chairman, Vice Chairman, and President of the bank.
8/81 – 12/85 Federal Reserve Bank of Philadelphia
Economist, Banking and Financial Markets Section, Research Division. Duties included current analysis and applied research in banking and
securities markets.
8/76 – 8/79 Board of Governors of the Federal Reserve System
Economist, Financial Studies Section, Division of Research and Statistics. Worked on long-term research on policy issues in banking.
Education: The Wharton School, University of Pennsylvania. Ph.D. in Business Economics, 1990. Concentration in monetary economics and econometrics.
Johns Hopkins University, School of Advanced International Studies. M.A. with Distinction, May 1976. Concentration in international economics
and Latin American studies.
Northwestern University. B.A. in economics, June 1973. Attended on the Oliver Bishop Harriman Scholarship of the American Foreign Service
Association.
Teaching Adjunct Associate Professor, Finance Department, Stern School of Business, New York University, 1989-2009. Courses taught included
experience: financial institutions, money and banking, and emerging markets finance.
Lecturer, Finance Department, The Wharton School, 1983-85. Taught commercial bank management.
Publications:
Refereed “Sovereign Spreads and Emerging Market Equity Returns,” with Leila Heckman, Journal of Portfolio Management (Fall 2003).
“The Risk Structure of Postbellum U.S. Deposit Rates,” Explorations in Economic History, vol. 36 (October 1999).
“Carrying Costs and Treasury Bill Futures,” Journal of Portfolio Management, vol. 12, no.1 (Fall 1985).
“The Implicit Returns on Bankers’ Balances,“ Journal of Money, Credit, and Banking, vol. 15, no. 4 (November 1983).
“Feedback Effects in the Market Regulation of Bank Leverage: A Time Series and Cross-Section Analysis,” Review of Economics
and Statistics, vol. 62, no. 2 (May 1980).
“Bankers’ Balances, Demand Deposit Interest, and Agricultural Credit before the Banking Act of 1933,” Journal of Money, Credit and
Banking, vol.11, no. 4 (November 1979).
Not refereed Latin American Business Environment Report, Center for Latin American Studies,
with Tim McLendon, University of Florida , 2016, 2017, 2018.
“Mid-term Elections and the Stock Market,” Financial Network Investment Notes (October 2010).
“The Political Cycle and Stock Market Performance,” ING Insights (July 2006)
“Estimating the Equity Premium across Countries,” Salomon Smith Barney (October 23, 2002).
“Running with the Bulls: Using Information on Emerging Market Mutual Funds’ Holdings in
Asset Allocation,” Salomon Smith Barney (January 25, 2002).
“Sovereign Spreads, Crises, and Emerging Market Equity Returns.” Salomon Smith Barney (September 10, 2001).
“Reducing Risk in an Emerging Markets Portfolio: Strategies to Limit Losses in Falling
Markets,” Salomon Smith Barney (March 20, 2001).
“Turning Volatility to Advantage: Using Volatility and Downside Risk in Deciding How Much to
Allocate to the Emerging Markets,” Salomon Smith Barney (February 16, 2001).
“Flowing My Way? Using Mutual Fund Flow Data in International Asset Allocation,” Salomon Smith Barney (November 30, 1999).
“Interest Rates and Country Allocation Strategies,” (with Leila Heckman) in Ross Paul Bruner, ed., Global Equity Selection Strategies.
Chicago: Glenlake, 1998).
"Sharper Estimates of Policy Rates from Futures,” (JP Morgan), August 1996.
“The Future of the German Government Bond Market: Proposals for Change” (with Richard Roll), JP Morgan, December 22, 1995.
“Modeling the High-Yielders: Australia and Canada,” JP Morgan Markets Research note,
December 6, 1995.
“Risk Premia in U.S. Treasuries,” J.P. Morgan, Markets Research note, November 30, 1995.
“East Asia’s Shifting Sources of Growth,” Economic Research note, JP Morgan Emerging Markets Economic Weekly, March 11, 1994.
Comment on Yakov Amihud’s “Exchange rates, the macroeconomic environment, and the firm,” in Yakov Amihud and Richard Levich,
Exchange Rates and Corporate Performance. New York: NYU Press, 1994.
“Growth and Investment in Latin America,” World Financial Markets (J. Morgan), July/August 1992.
“U.S. Deposit Insurance Reform,” World Financial Markets (JP Morgan), Issue 1, January 25, 1991.
“Wrestling with Glass-Steagall,” The World in 1990 (Economist annual survey), 1990.
“The Future of the U.K. Gilt-edged Market: Proposals for Change,” Current Economic
Issues (JP Morgan), Special Issue, March 7, 1989.
“Canada’s Financial Liberalization,” Morgan Economic Quarterly (December 1987).
“Trading Foreign Securities through ADRs,” Morgan Economic Quarterly (March 1987).
“Regulating Risk in Banking,” Morgan Economic Quarterly (September 1986).
“Focus on: Swaps,” Morgan Economic Quarterly (June 1986). Reprinted as “Interest Rate and Currency Swaps,” Commercial
Lending Review, vol. 1, no. 4 (Fall 1986).
“The Private Costs of Bank Failures: Some Historical Evidence,” Federal Reserve Bank of Philadelphia Business Review (March/April 1986).
“New Markets in Foreign Currency Options,” Federal Reserve Bank of Philadelphia Business Review (July/August 1984). Reprinted in
Robert E. Baldwin and David Richardson, eds., International Trade and Finance: Readings, 3rd Edition (Boston: Little Brown and Co., 1985).
“Is the Prime Rate Still First Choice? Federal Reserve Bank of Philadelphia Business Review (May/June 1983) Reprinted in Kinyu
(Federation of Bankers Associations of Japan, may 1984).
“The Regulation of Bank Trading in Interest Rate Futures,” in Below the Bottom Line: The Use of Contingencies and Commitments by
Commercial Banks. Staff Studies No. 113, Board of Governors of the Federal Reserve System (January 1982).
Working papers:
“The Discount Window and the Great Depression,” January 2018.
“CVaR-LASSO Enhanced Index Replication (CLEIR): Outperforming by Minimizing Downside Risk,” with Yong (Jimmy) Jin, Mahendrarajah
Nimalendran, and Xiaolong Zhong, July 2016).
“A New U.S. Corporate Bond Index for the Interwar Years,” April 2013. Presented at the International Atlantic Economic Association Meetings,
Vienna, April 2013.
“ Federal Reserve Credit Policy and the Great Depression,” Presented at International Atlantic Economic Association Meetings, Washington, D.C.
September 2011.
On-line media:
“Trump nods to Cuban exiles, rolls back ties: Experts React – Bad for Business?” The Conversation, June 16, 2017.
https://theconversation.com/trump-nods-to-cuban-exiles-rolls-back-ties-experts-react-79559
“What Castro’s death and Trump’s election mean for Cuba’s economic awakening,”The Conversation, December 14, 2016. https://theconversation.com/what-castros-death-and-trumps-election-mean-for-cubas-economic-awakening-69820
“Is there life after death for Puerto Rico?” The Huffington Post, July 3, 2016 and The Conversation, June 30, 2016
http://www.huffingtonpost.com/the-conversation-us/is-there-life-after-debt_b_10793544.htmland
“Can Puerto Rico escape its $72 billion debt trap and avoid Greece’s fate? The Conversation, May 11, 2016.
https://theconversation.com/can-puerto-rico-escape-its-72-billion-debt-trap-and-avoid-greeces-fate-59127
“As Obama makes historic visit, is Cuba ready for change? with William A. Messina, The Conversation, March 21, 2016.
https://theconversation.com/as-obama-makes-historic-visit-is-cuba-ready-for-change-56399 Reprinted in Huffington Post and
New Republic.com.
Media: Appeared regularly as a market strategist for ING on CNBC, Bloomberg TV (hosted Open Exchange show twice), and Fox Business News.
Interviewed frequently on Bloomberg radio and NPR. Quoted frequently in major financial news publications, including the Wall Street Journal,
New York Times, and the Financial Times.
Consulting: Provided a valuation for Banco do Brazil mortgage notes issued in 1957 on behalf of a client of Juan Crena. P.A., September 2016.
Served as a Market Strategist on a consulting basis for Cetera Investment Management, the asset management unit of Cetera Financial
Group, a Los Angeles financial advisory and brokerage firm with over $190 billion in assets under administration, 2010-15.
Consultant to EPFR Global, a provider of asset allocation and fund flow data to international market participants, 2011.
Languages: Spanish, since childhood.
French, reading ability.