PhD in Economics, University of Chicago. Formerly, tenured faculty member, Stanford Business School. 1989, joined the Wharton faculty; 1994-2006, Chair, Finance Department. Currently, I.W. Burnham II Professor of Investment Banking and Deputy Dean, Wharton School, University of Pennsylvania. Has taught undergraduates, MBA students, doctoral students, as well as participants in executive education. Courses include financial derivatives, fixed income securities and investment management. Empirical research on asset prices. Papers published in American Economic Review, Econometrica, The Journal of Business, Journal of Finance, Journal of Financial Economics, Journal of Monetary Economics and the Review of Financial Studies. Has served as an editor or associate editor for the major academic journals in finance.