Advisory Council

Forrest Capie

(Bayes Business School)

Forrest Capie is Professor Emeritus of Economic History at Bayes Business School City University, London. After a doctorate at the London School of Economics (LSE) and a teaching fellowship there, he taught at the University of Warwick and the University of Leeds. He was a British Academy Fellow at the National Bureau in New York and a Visiting Professor at the University of Aix-Marseille and the LSE, and a Visiting Scholar at the IMF. He was Head of Department of Banking and Finance at City University from 1989-1992; editor of the Economic History Review 1993-1999; a member of the Academic Advisory Council of the Institute of Economic Affairs in London, and an advisor to the Shadow Chancellor of the Exchequer. He has written widely on money, banking, trade and commercial policy and recently completed the commissioned history of the Bank of England (Cambridge University Press, 2010). His latest book ‘Money over Two Centuries’ was published by Oxford University Press in 2012. He was recently advisor to the UK’s Parliamentary Commission on Banking following the recent global financial crisis.

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Neil Record

(Record Currency Management)

Neil Record spent the early part of his career as an economist at the Bank of England. In 1983 he founded Record Currency Management, where he has been principal shareholder and Chair ever since.  In 2003, Neil authored a book on Currency Overlay, the first on this specialist topic.  He has also authored several papers on the UK’s unfunded public sector pension system, and was a finalist in the 2012 Wolfson Economics Prize, writing on possible Eurozone break-up.

He is also a frequent speaker at industry conferences and seminars in the UK, US and Europe, and is acknowledged as one of the leading figures in the currency management industry. He is a former Visiting Fellow at Nuffield College, Oxford; a Governor of Magdalen College School, Oxford, and Chair of the London-based Institute of Economic Affairs.

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David Marsh

(OMFIF Foundation)

David Marsh is Chair and Co-Founder of OMFIF. He is Senior Adviser to asset management company Soditic. Previously, he worked for City merchant bank Robert Fleming, corporate finance boutique Hawkpoint and German management consultancy Droege. Marsh took over the chair from John Plender on 1 January 2018 having been Managing Director since 2014.

Marsh is a Board Member of Henderson Eurotrust and the British Chamber of Commerce in Germany, and visiting Professor at Sheffield University and King’s College London. He is former co-founder, chair and deputy chair of the German-British Forum. He was made Commander of the British Empire in 2000 and was awarded the German Order of Merit (Bundesverdienstkreuz) in 2003.

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Pedro Schwartz  

(Fundación Rafael del Pino)

Dr. Pedro Schwartz is “Rafael del Pino Professor” in the Department of Economics at Camilo José Cela University in Madrid and visiting lecturer at the University of Buckingham in the UK. From September 2014 to September 2016 he was the President of the Mont Pèlerin Society, of which he is a member since 1978. He is a Bachelor and Doctor in Laws of the Universidad Complutense de Madrid, and a Master of Economics and a Ph.D. in Political Thought at the London School of Economics. When a member of the Intelligence Department of the Bank of Spain he directed the History Division specialising in monetary history. At the four Spanish Universities where he has taught he was Professor of the History of Economic Thought.

He belongs to the Board of the Spanish Think Tank “Pro Civismo”, to the Academic Advisory Board of the Institute of Economic Affairs in London; is a member of the Liberales Institut Zürich and of the European Centre of Austrian Economics at Liechtenstein; and in the US, he is an Adjunct Scholar of the Cato Institute. He also is an academician of the Real Academia de Ciencias Morales y Políticas of Spain. Dr. Schwartz helped introduce the “Santander Universidades Programme” in the UK.

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Maria Nieto

(Bank of Spain)

Dr María J. Nieto is Advisor at Bank of Spain. Her focus has been on prudential regulation, financial stability and crisis management. She is author of articles that have been published in peer-reviewed journals and she is a member of two editorial boards. Dr Nieto has worked at the European Central Bank (Frankfurt), Council of Economic Advisors to the Spanish President, European Bank for Reconstruction and Development (London) and the International Monetary Fund (Washington DC). Dr Nieto earned an MBA (finance) degree from the University of California, Los Angeles (UCLA) and a PhD cum laude from the Universidad Complutense de Madrid. She received the Ramón Areces scholarship to pursue graduate studies.

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Steve Hanke

(The Johns Hopkins University)

Steve H. Hanke is a Professor of Applied Economics and Founder & Co-Director of the Institute for Applied Economics, Global Health, and the Study of Business Enterprise at The Johns Hopkins University in Baltimore. He is a Senior Fellow and Director of the Troubled Currencies Project at the Cato Institute in Washington, D.C., a Senior Advisor at the Renmin University of China’s International Monetary Research Institute in Beijing, a Special Counselor to the Center for Financial Stability in New York, a contributing editor at Central Banking in London, and a contributor at National Review. Prof. Hanke is also a member of the Charter Council of the Society of Economic Measurement and of Euromoney Country Risk’s Experts Panel. In 2020, Prof. Hanke was named a “Knight of the Order of the Flag” by Albanian President Ilir Meta.

Prof. Hanke is a well-known currency and commodity trader. Currently, he serves as Chair of the Supervisory Board of Advanced Metallurgical Group N.V. in Amsterdam and Chair Emeritus of the Friedberg Mercantile Group, Inc. in Toronto. During the 1990s, he served as President of Toronto Trust Argentina in Buenos Aires, the world’s best-performing emerging market mutual fund in 1995.

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Ryland Thomas

(Bank of England)

Ryland is a Senior Economist at the Bank of England where he has worked for over 20 years. In that time he has worked in a number of roles analysing both monetary and macroeconomic developments in the UK.  He also spent six years in the Bank’s forecast and modelling teams.  Ryland’s research has mainly focused on the role of money and credit in the economy and has largely involved using empirical time series methods.  Ryland has also researched the impact of QE, fiscal policy and oil price changes on the UK economy.  Additionally he has a research interest in the UK’s economic history and the use of archival data in examining the past behaviour of the Bank of England.  Currently he looks after the Bank of England’s historical macroeconomic database and data on the Bank of England’s historical balance sheet.  He also chairs the Historical and Monetary Financial Statistics network of central banks hosted at the Bank for International Settlements (BIS).  He is currently seconded to the Economic Statistics Centre of Excellence (ESCoE) and is working on a project which aims to reconstitute a comprehensive set of UK historical data on national accounts and other macroeconomic and financial variables over the past 100 years.

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Diego Zuluaga

(Fingleton)

Prior to joining the Cato Institute, Diego was Head of Financial Services and Tech Policy at the Institute of Economic Affairs in London. He was educated at McGill University and Keble College, Oxford, from which he holds degrees in economics and finance. Diego appears frequently on print and broadcast media, and he has been a visiting lecturer at the University of Buckingham.

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Brandon Davies 

(former treasurer of Barclays Capital)

Brandon is a Trustee of the Responsible Finance Institute Foundation a Non-executive director of Lintel Limited a prospective new bank in the City of London and of Obillex Limited which is developing a new exchange for Bills of Exchange. He is also a board director of Shariah Supply Chain Finance Limited an advisor to Rosette Limited a Shariah merchant bank and the CEO and Chair of dRisk.biz Limited a company which encompasses his publishing and training interests.

Brandon holds a degree in economics from University College London. He is a member of the Financial Markets Group at the London School of Economics (LSE), and is on advisory councils for several “think tanks” including the CSFI and Long Finance. He lectures extensively on subjects in banking and risk management and has written numerous papers and articles and six books on these subjects for organisations such as GARP, ACCA, Cass Business School, Central Banking, the LSE, Lombard Street Research and the Financial Times. He currently lectures at Buckingham University on their Masters in Money, Banking and Central Banking degree course.

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Gabriel Stein

(Stein Brothers)

Gabriel Stein is an independent macroeconomic commentator and forecaster. In 1980, he graduated from Stockholm School of Economics. In 1981 he worked at the Israeli Ministry of Finance international relations department. From 1982 to 1990 he ran Stein Brothers, a public affairs and economics research consultancy, first in Stockholm and (from 1990) in London.

From 1991 to 2012 he was chief international economist of Lombard Street Research where he helped set up the company’s world service. During this time, he wrote and commented on all major world economies. From 2012 to 2014 he ran his own macroeconomic forecasting consultancy, Stein Brothers (UK). In 2014, Stein Brothers (UK) was acquired by Oxford Economics, and he became their Director, Asset Management Services. From October 2016 to August 2017, he was Managing Director, Developed Markets Research at 4Cast RGE.

He is a senior fellow of the Adam Smith Institute. From 2013 to 2016 he was visiting professor in the Department of Economics at Royal Holloway University of London; and from 2013 to 2016 he was senior non-resident fellow at the Chongyang Institute for Financial Studies, Renmin University, Beijing. He regularly appears on television and at conferences. Gabriel has an MA in military history from Buckingham University. In January 2018, he published his first novel.

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Charles Goodhart

(FMG, The London School of Economics and Political Science – LSE)

Charles Goodhart was trained as an economist at Cambridge (Undergraduate) and Harvard (PhD). He then entered into a career that alternated between academia (Cambridge, 1963-65; LSE, 1967/68; again 1985-date), and work in the official sector, mostly in the Bank of England (Department of Economic Affairs, 1965/66; Bank of England, 1968-85; Monetary Policy Committee, 1997-2000).  He has worked throughout as a specialist monetary economist, focussing on policy issues and on financial regulation, both as an academic and in the Bank.  He devised ‘the Corset’ in 1974, advised HK on ‘the Link’ in 1983, and RBNZ on inflation targetry in 1988.  He has written more books and articles on these subjects throughout the last 50 or 60 years than any sane person would want to read.

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Michael J. Oliver

(Open University)

Dr Michael J. Oliver is a Senior Lecturer in Finance at the Open University and has published extensively on monetary history, exchange rate regimes and macroeconomic policy. He has spent 28 years teaching at various universities in the UK, US and France and has combined this with a practical application of economics to offer executive education, workshops and a broad range of consultancy for family offices and high-profile corporations. He is also co-founder of Global Partnership Family Offices.

Geoffrey Wood

(The University of Buckingham)

Professor Geoffrey Wood has lectured in Economics at the University of Warwick and in Banking and Finance at City University, London, where he has been Professor since 1986. He worked at the Bank of England as Economist, and later as Special Adviser on Financial Stability. He was also Visiting Scholar at the Federal Bank of St Louis. He has acted as economic adviser to various firms and organisations, including W. Greenwell & Co., Buckmaster & Moore, the Union Discount Company of London, the New Zealand Treasury and the Bank of Finland. Visiting professorships have taken him to universities around the world: South Carolina, Harvard, London, Athens and Oxford. Since 1991 he has been a trustee of the Wincott Foundation. He is the author, co-author or editor of over twenty books, and he has published over fifty papers in academic journals, as well as doing a good amount of written and broadcast journalism. Recent books co-edited with F.H. Capie include: The Development of Monetary Theory in the 1920s and 1930s (1999); Policy Makers on Policy (2001); Monetary Unions: Theory, History, Public Choice(2003); The Lender of Last Resort (2007), and with David Mayes The Structure of Financial Regulation (2007).

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John Greenwood

(International Monetary Monitor)

John works for International Monetary Monitor Ltd., and until 2021 was Chief Economist of Invesco Ltd. with responsibility for providing economic analysis and forecasts to Invesco portfolio managers and clients.

John started his career in 1974 as a visiting research fellow at the Bank of Japan. He joined the investment industry later that year as Chief Economist for GT Management, based initially in Hong Kong and then in San Francisco.

As editor of Asian Monetary Monitor in 1983 he proposed a currency board scheme for stabilising the Hong Kong dollar that is still in operation today. In the 1990s he was a director of the Hong Kong Futures Exchange Clearing Corporation, a council member of the HK Stock Exchange, and an economic adviser to the Hong Kong Government. For his public service to Hong Kong he was awarded the OBE.

In 1998, John joined Invesco and became a member of the Committee on Currency Board Operations of the Hong Kong Monetary Authority. He is also a member of the Shadow Monetary Policy Committee in England and serves on the board of the Hong Kong Association.

In October 2020 John was awarded the Silver Bauhinia Star by the Hong Kong SAR government for his work in promoting the stability of the Hong Kong dollar. In the same month he was made an Honorary Fellow of the Hong Kong Securities and Investment Institute.

John holds an MA and an Honorary PhD from the University of Edinburgh. He is also a fellow of the Institute for Applied Economics, Global Health, and the Study of Business Enterprise at Johns Hopkins University.