Finance Industry Breakfast
Professor Pennacchi will discuss the following points:
- The impact of government support, regulations and taxes for banks and their nonbank competitors
- Nonbank competitors capturing the market share in economic expansions
- Banks doing relatively well during slower growth periods
George G. Pennacchi is the IBE Professor of Finance at the University of Illinois at Urbana-Champaign. He is also a Research Associate at the Federal Reserve Bank of Cleveland and a Senior Fellow at the Federal Deposit Insurance Corporation’s Center for Financial Research. His research focuses on financial intermediaries and the valuation of fixed-income securities and government guarantees. He was President of the Financial Intermediation Research Society in 2015 and is currently an associate editor for the Journal of Financial Intermediation, the Journal of Financial and Quantitative Analysis, and the Journal of Financial Services Research. Previously, he served as Managing Editor of the Journal of Financial Intermediation, an associate editor for the Journal of Banking and Finance, the Journal of Finance, the Journal of Money, Credit and Banking, the Review of Financial Studies, and Management Science, and a co-editor of Advances in Futures and Options Research. His consulting experience includes work for the U.S. Office of Management and Budget, the World Bank, the International Monetary Fund, and the Federal Reserve Board of Governors. He has been a visiting professor at Università Bocconi in Milan, Italy, and was a member of the finance faculty at the Wharton School of the University of Pennsylvania. Mr. Pennacchi received a Sc.B. degree in applied mathematics from Brown University in 1977 and a Ph.D. in economics from the Massachusetts Institute of Technology in 1984.