Federal Reserve Bank of Chicago

William Osborn is General Partner of Commons Capital LP, a "double bottom line" venture capital fund investing in private companies with significant growth potential whose products, services or corporate cultures promote a sustainable economy by delivering market solutions to social and environmental problems. The fund is an active investor in small companies in the environment, clean energy, healthcare and education markets. Mr. Osborn is also a special partner with Arete Corporation, a venture firm managing investments in the telecommunications, software and energy industries. Prior to that he was a principal at Venture Investment Management Company, LLC (VIMAC), a Boston group managing "angel" investments in early stage companies. There Mr. Osborn focused on renewable energy and healthcare opportunities. Mr. Osborn has been an entrepreneur in the environmental and energy field, founding and managing an electric vehicle distribution subsidiary for a major utility company and starting a green business development and consulting firm. Earlier he co-managed a venture capital fund for automaker BMW and was a management consultant with Arthur D. Little, where he led a consulting practice involved with new energy technologies. Before his consulting work, Mr. Osborn practiced law and managed a state government office promoting solar energy. He also was a staff attorney at Ralph Nader's Center for the Study of Responsive Law, where he authored The Paper Plantation, a book about the environmental and social impact of the pulp and paper industry on the state of Maine. Mr. Osborn sits or has been on the boards of several start-up and expansion-stage companies, including Evergreen Solar, Inc. (photovoltaic modules), World Power Technologies, Inc. (power quality instrumentation), Surgical Sealants, Inc. (surgical wound products), Fingerlakes Aquaculture LLC (recycled-water aquaculture), and Conservation Services Group (energy efficiency services). He is a founding Trustee of the Domini Social Equity Fund and a Board Member of Investors' Circle, where he has also chaired the Selection Committee that chooses companies to present to members for investment. He has also been President of the Brookline Foundation, a local education foundation raising private funds for public school teacher development. He has a BA from Princeton University and a JD from George Washington Law School.

Charles L. Evans is the ninth president and chief executive officer of the Federal Reserve Bank of Chicago. In that capacity, he serves on the Federal Open Market Committee (FOMC), the Federal Reserve System's monetary policy-making body. Before becoming president, Evans served as director of research and senior vice president, supervising the Bank's research on monetary policy, banking, financial markets and regional economic conditions. Prior to that, Evans was a vice president and senior economist with responsibility for the macroeconomics research group. His personal research has focused on measuring the effects of monetary policy on U.S. economic activity, inflation and financial market prices. It has been published in the Journal of Political Economy, American Economic Review, Journal of Monetary Economics, Quarterly Journal of Economics, and the Handbook of Macroeconomics. Evans has taught at the University of Chicago, the University of Michigan and the University of South Carolina. He received a bachelor's degree in economics from the University of Virginia and a doctorate in economics from Carnegie-Mellon University in Pittsburgh. He is married and has two children.

Gordon Werkema is first vice president and chief operating officer (COO) of the Federal Reserve Bank of Chicago and product director of the Federal Reserve System's National Customer Relations and Support Office. In his capacity as COO of the Federal Reserve Bank of Chicago, he oversees the financial services, payments, information technology services, financial management, legal, human resources, strategy, risk, and corporate development functions, as well as the Detroit Branch. In his capacity as a national Federal Reserve System Product Director, he oversees electronic access products and services, customer support and national sales and marketing activities for the Federal Reserve Banks. Werkema serves on various Chicago Fed and national Federal Reserve System committees and governing councils relating to financial services, information technology, risk management, and leadership development. Prior to his appointment as first vice president, Werkema was executive vice president responsible for overseeing the Information and Technology Services, Check and Business Development divisions for the Federal Reserve Bank of San Francisco. Additionally, he had oversight responsibilities of the Seattle Branch. He was a member of the Bank's Executive Committee. He joined the Federal Reserve Bank of San Francisco in the early 1980s, where he held various management positions in Financial Services, Electronic Funds and Check Processing. From 1984 through 1986, he worked for the Federal Reserve Bank of Richmond at its Baltimore Branch as the Federal Reserve's liaison to the United States Treasury on payment and cash management issues. He then returned to the San Francisco District to assume positions in various official capacities. He became vice president of San Francisco Operations in 1989 and was promoted to senior vice president with responsibility for Los Angeles Branch Operations in 1990. Werkema holds a master's degree with honors from Johns Hopkins University in Administrative Sciences and an undergraduate degree in political science and economics from Seattle Pacific University. He is a member of the Seattle Pacific Foundation Board, the Chicago Economic Club, the Bankers Club of Chicago, and Chicago United.

Cathy Lemieux is senior vice president in charge of Supervision and Regulation at the Federal Reserve Bank of Chicago. Cathy directs the supervision and regulation of more than one thousand banking organizations including state-chartered member banks, bank holding companies, financial holding companies, and U.S. foreign bank branches within the Seventh Federal Reserve District. Additionally, she chairs the System's Regional Banking Organization (RBO) group, serves as the chair of the Federal Reserve System Subcommittee implementing Basel II training, and is a member of the Basel Implementation Council. Cathy began her career with the Federal Reserve System at the Kansas City Fed in 1990. She joined the Chicago Reserve Bank as a senior examiner in 1996, and has assumed a number of management positions of increasing responsibility within the department. Cathy has over thirty years experience in the industry, serving as a lender, professor, policy analyst, and bank regulator. She holds a Ph.D. from Texas A&M University.

Daniel G. Sullivan is director of research and senior vice president at the Federal Reserve Bank of Chicago. Sullivan serves as chief economist and as a member of the Management Committee. He oversees the Bank's research in monetary policy, banking and financial markets, and regional economics. In addition, he has supervisory responsibility for the Bank's Consumer and Community Affairs unit and the Public Affairs Department. Sullivan also serves as an associate economist on the Federal Open Market Committee (FOMC), the group responsible for formulating national monetary policy. Prior to his appointment as research director, Sullivan served as a senior economist and vice president in the Economic Research Department at the Chicago Fed. He was the team leader of the applied microeconomics team. His research is in the area of labor economics, especially issues related to displaced workers and alternative work arrangements. Prior to joining the Chicago Fed, Sullivan was an assistant professor of economics at Northwestern University and has also taught at Princeton University. He has published articles in Econometrica, the American Economic Review, the Journal of Law and Economics, the Journal of Economic Perspectives, the Journal of Industrial Economics and the Journal of Political Economy. Sullivan received a B.A. in mathematics and statistics from the University of Chicago and a Ph.D. in economics from Princeton University.

Elizabeth A. Knospe is senior vice president and general counsel for the Chicago Fed. She leads the Bank's Legal department and provides a wide variety of strategic legal support to the Bank. In addition, she oversees the Bank's Enterprise Risk Management efforts and is a member of the Management Committee. Before assuming her current position, she was vice president and associate general counsel for the Chicago Fed, and handled ongoing interaction with Human Resources on policy issues as well as handling District and System legal issues. Previously, she was assistant vice president and assistant general counsel. She began her career at the Chicago Fed in 1986 as a staff attorney. Knospe received a bachelor's degree in French from Grinnell College, Grinnell, Iowa, and a J. D. from Chicago Kent College of Law at the Illinois Institute of Technology.

Margaret K. Koenigs (Peg) is senior vice president and general auditor of the Federal Reserve Bank of Chicago. She reports to the Audit Committee of the Bank's Board of Directors. She is responsible for the Bank's Audit department which provides an independent assessment of the system of internal control in operations, financial reporting, and regulatory and legal compliance. Before assuming her current role, Koenigs served in a number of capacities at the Chicago Fed. She was vice president of Human Resources, responsible for the Compensation, Benefits, and Staffing and Training divisions. She also served as assistant vice president of Financial and Management Services with responsibility for Accounts Payables, Budget and Payroll functions. Koenigs started at the Fed in 1983 as a budget analyst. Before coming to the Fed, Koenigs was a cost analyst at the Chicago and Northwestern Railroad. Koenigs received a bachelor's degree in business administration from Michigan State University and a master's degree in business administration from the University of Chicago. She is a Certified Internal Auditor (CIA.)

Spencer Krane is a senior vice president in the economic research department at the Federal Reserve Bank of Chicago. In this capacity, Krane manages the forecasts and briefings that the staff prepares for Chicago Fed President Charles Evans in advance of each meeting of the Federal Open Market Committee, coordinates other policy analyses for President Evans and conducts research in domestic macroeconomics. Before joining the Chicago Fed in 2001, Krane was on the staff of the Board of Governors of the Federal Reserve System in Washington, DC. Krane's responsibilities included managing part of the team that prepares the Board staff's forecasts of the U.S. economy and conducting research and current analysis in domestic nonfinancial macroeconomics. During his career at the Board of Governors, Krane took one-year leaves of absence to serve as a senior economist on the staff of the President's Council of Economic Advisers (1991 92) and to lecture at the Haas School of Business at the University of California at Berkeley (1988 89). Krane's research has been published in the Journal of Econometrics, the International Economic Review, the Journal of Political Economy, the Journal of Monetary Economics and the Review of Economics and Statistics. Krane received a B.A. in mathematics and economics from Kalamazoo College and a Ph.D. in economics from the University of California at Berkeley.

Alicia Williams is vice president in charge of the consumer and community affairs division in the economic research department of the Federal Reserve Bank of Chicago. Williams is also the Bank's Community Affairs Officer. She has oversight responsibility for the Bank's community affairs program, emerging consumer compliance issues and consumer and community development research. Williams has experience in the regulatory and examination field. While at the Fed, she served as examiner in charge of bank examinations and bank holding company inspections. Williams also served as the officer in charge of the compliance examination division for 12 years. Williams holds a B.B. in finance from Western Illinois University and is a 1997 graduate of Northwestern University's Executive Masters Program.

Daniel Aaronson is a vice president and economic advisor in the economic research department at the Federal Reserve Bank of Chicago. He also leads the microeconomics group. Aaronson conducts research on topics related to labor markets and education. His research has been published in journals such as the Journal of Labor Economics, the Journal of Human Resources,the Journal of Urban Economics and the Review of Economics and Statistics and has also been featured in Chicago Fed research publications, including Economic Perspectives and Chicago Fed Letter. Prior to his current position, Aaronson served as a senior economist and economic advisor in the economic research area. He began his career at the Chicago Fed as a staff economist in 1996. He has also taught at the University of Illinois at Chicago's College of Urban Planning and Public Affairs and Northwestern University's Kellogg School of Management. Aaronson received a B.A. in economics from Washington University in St. Louis and a Ph.D. in economics from Northwestern University.

Douglas D. Evanoff is a senior financial economist and vice president in the economic research department of the Federal Reserve Bank of Chicago. As director of the financial studies group, he oversees research on financial markets and regulation. He serves as an advisor to senior management of the Federal Reserve System on regulatory issues and is chairman of the Federal Reserve Bank of Chicago's annual Conference on Bank Structure and Competition. Evanoff also serves as adjunct faculty member in the Graduate School of Business at DePaul University. Evanoff's current research interests include bank cost and merger analysis, financial sector regulatory barriers, payment system mechanisms and accessibility to consumer credit. He has published studies in a wide array of professional journals and books on issues including credit access, bank regulation, industry structure, bank efficiency, payments systems issues and correspondent banking. Evanoff received a Ph.D. in economics from Southern Illinois University.

Jonas D. M. Fisher is a vice president and an economic advisor in the economic research department of the Federal Reserve Bank of Chicago. In this capacity, he leads the macroeconomics group. Fisher conducts research and analysis on macroeconomic topics related to business cycle theory and helps oversee the monthly release of the Chicago Fed National Activity Index, a monthly index designed to better gauge overall economic activity and inflationary pressure. Prior to his current position, Fisher served as a team leader, senior economist and economic advisor in the economic research area. He began his career at the Chicago Fed as a staff economist in 1996. Before joining the bank, Fisher was an assistant professor of economics at the University of Western Ontario. Fisher also served as a visiting associate professor at the Wharton School of the University of Pennsylvania and a visiting scholar at the Institute of Empirical Macroeconomics at the Federal Reserve Bank of Minneapolis. Fisher's research has been published in the American Economic Review, the Journal of Economic Dynamics and Control, the Journal of Economic Theory, the Journal of Monetary Economics, the Journal of Money, Credit and Banking, Macroeconomic Dynamics, the Review of Economic Dynamics and the Review of Economic Studies. Fisher received a B.Sc. in economic and quantitative methods from University of Toronto, an M.A. in economics from Queens University (Kingston, ONT) and a Ph.D. in economics from Northwestern University.

Jon Sudduth is the Assistant Vice President at the Federal Reserve Bank of Chicago in charge of the Detroit Cash Operation. Jon has been employed by the Federal Reserve since 1988 and held a variety of management positions within the organization including the Facilities, Protection, Community Outreach and Business Development areas of the Bank. Jon was also the Lead Project Manager for the new Detroit Federal Reserve Building. In addition to serving on the Board of Directors for the Plymouth Educational Center he is on the Board of Director's of the Michigan Council on Economic Education, and is a founding member of the Michigan Jump$tart Coalition. He is a regular classroom instructor for Junior Achievement and served four years as a Senior Quality Examiner for the Michigan Quality Council. Jon is a graduate of Oakland University's School of Economics and Management with a major in Accounting.

Richard Porter is a vice president and senior policy advisor in the economic research department of the Federal Reserve Bank of Chicago. As director of the payments studies group, he oversees economic research and policy analysis on payments systems. Before joining the Bank, Porter served as an economist at the Board of Governors of the Federal Reserve System for over three decades, most recently as a senior adviser in the Division of Monetary Affairs. Prior to that, Porter was an assistant professor of economics at Ohio State University. Porter has had an active research and policy career. His articles have been published in a variety of scholarly journals including the American Economic Review, Annals of Economic and Social Measurement, Brookings Papers on Economic Activity, Carnegie Rochester Conference on Public Policy, Econometrica, Economic Letters, Economic Modelling, the Journal of Economics and Business, the Journal of Economic Dynamics and Control, the Journal of Monetary Economics and the Journal of Money, Credit, and Banking. He was the recipient of a special achievement award from the Board of Governors for his research at the Board in 1982 and a certificate of appreciation in special recognition of efforts and superior contributions for the International Currency Audit Program to the law enforcement responsibilities of the United States Secret Service in 2000. In May 2004 he was privileged to have the Board of Governors sponsor a festschrift-type conference entitled Models and Monetary Policy: Research in the Tradition of Dale Henderson, Richard Porter, and Peter Tinsley.

Tim Schilling is the Associate Director of the Powell Center for Economic Literacy. He comes to the Powell Center after 16 years as Director of Economic & Financial Education for the Federal Reserve Bank of Chicago. Prior to that he was a high school teacher in Michigan, as well as spending time as the program director and then executive director of the Michigan Council on Economic Education. At Powell, he develops content, curriculum and professional development programs for integrating economics in the classroom. This is done through workshops, "Econ-Exchange," his blog, and other venues.

Anna Paulson is a vice president in the financial markets group. Prior to her appointment in 2009, she was a senior financial economist in the research department of the Federal Reserve Bank of Chicago. Paulson's research focuses on how households cope with risk and incomplete financial markets. Her current research includes studies of the relationship between institutions and financial development and the dynamics of entrepreneurship. Paulson's research has been published in scholarly journals, including the Journal of Political Economy, the Review of Economics and Statistics and the Journal of Corporate Finance. Before joining the Fed in November 2001, Paulson was an assistant professor in the Finance Department at the Kellogg School of Management. She received a B.A. from Carleton College and a Ph.D. in economics from the University of Chicago.

David Oppedahl is an economist in the economic research department at the Federal Reserve Bank of Chicago. Oppedahl conducts research on the agricultural sector and rural development as well as conducting microeconomic research. He directs the Chicago Federal Reserve District's survey of agricultural banks on agricultural land values and credit conditions and publishes the results in AgLetter the Chicago Fed's quarterly agricultural publication. In addition to his research, he regularly briefs the Chicago Fed's president on the agricultural economy. Before starting his career at the Chicago Fed as an associate economist in 1998, Oppedahl was a consultant in the economic research department at the Federal Reserve Bank of Dallas. While at the Dallas Fed, he provided research support in the area of econometrics. Oppedahl received a B.S. in mathematics from Wheaton College, Wheaton, Illinois, and an M.S. in statistics from the University of Wisconsin-Madison. He also completed graduate-level course work in economics while attending Southern Methodist University.

Eric French is a senior economist in the economic research department at the Federal Reserve Bank of Chicago. French provides research and analysis in the areas of econometrics, labor and health economics. French's research has been published in the Review of Economic Studies, Review of Economics and Statistics, the Journal of Labor Economics, Journal of Applied Econometrics, and Journal of Human Resources and is featured in Chicago Fed research publications, including Economic Perspectives and Chicago Fed Letter. He has taught at the Department of Economics at Northwestern University. French received a B.A. in economics from the University of California Berkeley, and M.S. and Ph.D. degrees in economics from the University of Wisconsin Madison. He is on leave at the Social Security Administration from August 2008 through June 2009.

Jeffrey R. Campbell is a senior economist in the economic research department at the Federal Reserve Bank of Chicago. In that position, Campbell provides research and analysis on econometrics and business cycles. Campbell's research has been published in the American Economic Review and the Review of Economic Dynamics. Before joining the Chicago Fed in July 2002, Campbell was an assistant professor of economics at the University of Chicago. Prior to that, he was an assistant professor of economics at the University of Rochester. In addition to his position at the Chicago Fed, he is a faculty research fellow in the Economic Fluctuations Program at the National Bureau of Economic Research. Campbell received an A.B. in economics from the University of Michigan and a Ph.D. in economics from Northwestern University.

James Barrett is a Managing Director and Head of Institutional Sales at BNY Asset Management. He directs the Firm's sales efforts, client servicing, consultant relations and RFP communications. Prior to joining BNY Asset Management in 2004, James worked at Northern Trust Global Investments as Director of Sales and Client Servicing. He also held a series of senior roles at ANB Investment Management, including Director of Marketing, Fixed Income Analyst and Economist. James began his career in 1984 as a Research Assistant at the Federal Reserve Bank of Chicago. He graduated with a BS in Economics from Johan Carroll University and obtained an MBA in Economics and Finance from the J.L. Kellogg Graduate School of Management at Northwestern University.

June Hyung Kim is an associate economist in the financial markets group of the Federal Reserve Bank of Chicago. His duties include working closely with Adrian D'Silva, conducting economic and statistical analysis of financial markets data and providing analytical and operational support on FMG projects. Previously, Kim worked as a research assistant at the Kellogg Graduate School of Management at Northwestern University and he was an intern at Deloitte & Touche and Goldman Sachs Group. He holds a B.A. in economics and mathematical methods in the social sciences from Northwestern University, where he graduated with honors.

Leslie McGranahan is an economist in the in the regional analysis team of the economic research department of the Federal Reserve Bank of Chicago. Her research interests include the effectiveness of antipoverty programs, government expenditure on low income populations and the intergenerational transmission of wealth and inequality. McGranahan's research has been published in journals including the National Tax Journal and the Journal of Political Economy. Her work has also been featured in the Chicago Fed Letter and Economic Perspectives, the Federal Reserve Bank of Chicago's publications. McGranahan returned to the Federal Reserve Bank of Chicago in 2004 after working as a lecturer at the University of Warwick, and as research economist at the Institute for Fiscal Studies in London, England. She received a bachelor's degree in politics from Princeton University and master's and doctorate degrees in economics from Northwestern University.

Luca Benzoni is a senior financial economist in the economic research department at the Federal Reserve Bank of Chicago. Benzoni's research focuses on the modeling of volatility in equity and interest rate markets, derivatives pricing, asset allocation over the life cycle, and conflict of interest and certification in the U.S. IPO market. Benzoni's research has been published in the Journal of Finance. Before joining the Chicago Fed in September 2006, Benzoni was an assistant professor in finance at the University of Minnesota. Benzoni received a B.A. from Bocconi University (Milan, Italy) and a Ph.D. in finance from the Kellogg School of Management, Northwestern University.

Nicholas Buchholz is a senior associate economist in the financial markets group of the Federal Reserve Bank of Chicago. His duties include working closely with David Marshall, conducting economic and statistical analyses of financial markets data and providing analytical and operational support on FMG projects. Previously, Buchholz worked as an economic research assistant in the department of general internal medicine at the University of Chicago. He holds a B.A. in economics and a B.S. in mathematics from the University of Chicago, where he received a 2006 D. Gale Johnson Memorial Award for his senior thesis.

Paul Huck is a senior economist and economic advisor in the financial markets group of the Federal Reserve Bank of Chicago. Prior to joining the group, he was responsible for a model review team that conducted reviews of quantitative risk management processes at large banks in the supervision and regulation department of the Federal Reserve Bank of Chicago. Huck's research has been published in the Journal of Urban Economics, Law and Society Review and Housing Policy Debate. Prior to coming to the Chicago Fed, Huck was on the faculty of Wake Forest University in Winston-Salem, North Carolina. He received a B.S from Marquette University, an M.B.A. from the University of Washington and an M.A. and Ph.D. in economics from Northwestern University.

Richard J. Rosen is a senior economist and economic advisor in the economic research department at the Federal Reserve Bank of Chicago. In that position, Rosen conducts research on issues relating to financial intermediation, bank regulation, the future of banking and mergers. Rosen's research is published in numerous leading academic journals. Published articles of his research have appeared in the Journal of Finance, the Journal of Financial Economics, the Journal of Business, the Journal of Money, Credit, and Banking and the Rand Journal. Prior to coming to the Chicago Fed, he taught in the finance departments at the Kelley School of Business at Indiana University, the Wharton School at the University of Pennsylvania and the school of business at Georgetown University. He has also worked at the Board of Governors of the Federal Reserve System. Rosen received a B.A. in mathematics from Swarthmore College and a Ph.D. in economics from Princeton University.

Rick Mattoon is a senior economist and economic advisor in the economic research department of the Federal Reserve Bank of Chicago. Mattoon's primary research focuses on issues that face the Midwest regional economy. His analysis of electricity restructuring and energy issues, higher education policy, regional economic development and state and local government finance has appeared in numerous publications. Mattoon also serves as a lecturer at the Kellogg School of Management at Northwestern University. Mattoon began his career at the Chicago Fed in 1990. In 1997 he left the bank to serve as a policy advisor for economic development, energy and telecommunications to the Governor of Washington. He later served as director of policy and legislation for the Washington Utilities and Transportation Commission. He returned to the bank in 2001. Mattoon received a B.A. from Kenyon College and an M.A. from the University of Chicago.

Robert J. LaLonde is a consultant in the research department at the Federal Reserve Bank of Chicago. LaLonde is a professor at the University of Chicago.

Sumit Agarwal is a financial economist in the research department at the Federal Reserve Bank of Chicago. His research interests include issues relating to household finance, as well as corporate finance, financial institutions and capital markets. His research has been published in the Journal of Political Economy, Journal of Money, Credit and Banking, Journal of Financial Intermediation and Real Estate Economics. Additionally, he has edited a collected volume on Household Credit Usage: Personal Debt and Mortgages. Prior to joining the Chicago Fed in July 2006, Agarwal was a senior vice president and credit risk management executive in the Small Business Risk Solutions Group of Bank of America. He also serves as an adjunct professor in the finance department at DePaul University. Agarwal received a Ph.D. from the University of Wisconsin Milwaukee. He is currently on leave at the Indian School of Business where he is teaching courses on financial institutions.

Valerie is senior vice president and EEO Officer for the seventh Federal Reserve District. She leads the Central Bank Services division, which includes Discount Window Lending, Payments System Risk, Reserve Accounting, and Statistical and Financial Reporting. In addition, she oversees the Bank's Accounting and Procurement departments and is a member of the Management Committee. Valerie has been with the Federal Reserve Bank of Chicago since 1993, holding various management positions in Central Bank Services, the Customer Relations and Support Office, and the Detroit Branch. From 1984 through 1993, she held various official positions with California Federal Bank and First Interstate Bank of California. Valerie began her career at the Detroit Branch of the Federal Reserve Bank of Chicago in 1978. Valerie holds a bachelor's degree in economics from the University of Michigan, is a graduate of the Stonier Graduate School of Banking, and holds an master's degree in business administration from the University of Chicago. She has been a director for Junior Achievement of Chicago since 2004.

Mark Hewitt is President and Chief Executive Officer of Clear Lake Bank & Trust Company and its holding company, Arneson Bancshares, Inc. Clear Lake Bank & Trust Company is a $210 million bank headquartered in Clear Lake, Iowa, with 3 offices in north central Iowa. Mr. Hewitt joined the bank in 1998 after spending 8 years with Wells Fargo Bank, Iowa in Des Moines, where he served as Manager of the Corporate Banking Department. Other prior experience included a total of 5 years in commercial banking at U.S. Bank in Des Moines and the Northern Trust Co. in Chicago. Mr. Hewitt has been active in a number of organizations throughout his career. He currently serves on the Clear Lake Economic Development Board, the North Central Iowa Growth Partnership Board, the Mercy Health Center North Iowa Legislative, Planning and Marketing Board and the Clear Lake/Ventura Community Foundation Board. In the past, he has chaired capital campaigns for the United Way of North Central Iowa and Opportunity Village and has served on the Cerro Gordo County Compensation Board and the Clear Lake Area Chamber of Commerce Board. He graduated cum laude with a B.S. in Business Administration from Drake University in 1985 and received his M.B.A. from the J. L. Kellogg Graduate School of Management at Northwestern University in 1987. Mr. Hewitt grew up in Clear Lake, Iowa and is married with 3 daughters.

Gerald personifies the Citadel success story. He joined as the firm as an accounting intern from DePaul University in 1993. Today, as Senior Managing Director and Chief Operating Officer of Citadel Investment Group, L.L.C., Gerald is responsible for a number of Citadel's businesses, including Citadel Alternative Asset Management (“CAAM”), Citadel's fund of hedge funds business; Citadel Solutions, Citadel's hedge fund administration business; and Citadel's reinsurance investments. He is also responsible for key corporate functions, including Treasury, Finance, Human Capital Development, Marketing, Investor Relations and Corporate Communications. What initially inspired Gerald to join Citadel was the opportunity to work in an entrepreneurial environment. Whereas Citadel has grown tremendously in capital, people and number of businesses throughout Gerald’s tenure, the firm has maintained its entrepreneurial spirit and is still able to move nimbly and quickly in response to new opportunities, providing employees unparalleled opportunities for growth and impact. Gerald currently serves on the Board of Directors for The Depository Trust & Clearing Corporation, the Financial Markets Working Group of the Federal Reserve Bank of Chicago and the Board of Trustees at DePaul University. He was named to Crain's Chicago Business' Forty Under Forty in 2007. Gerald received his M.B.A. from the University of Chicago and his B.S. in Commerce with concentrations in Accountancy (Honors) and Finance from DePaul University. He is also registered as a certified public accountant with the State of Illinois.