Research Fellows and Other Appointees

Ed Balls Lewis Kaden | Marshall Lux | Peter Sands | Ariane Tschumi | Paul Tucker | Rodrigo Vergara


2017-2018 Research Fellows

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Ed Balls was UK Shadow Chancellor from 2011 to 2015 and co-chaired the Inclusive Prosperity Commission with former US Treasury Secretary, Larry Summers, which reported in January 2015.  He served in the British Cabinet as Education Secretary (2007-2010). He was previously the UK Minister for Financial Services (2006-2007) and the Chief Economic Adviser to the UK Treasury (1997-2004), during which time he was the Chair of the IMFC Deputies and UK G20 Deputy.  He was the Labour & Co-operative Member of Parliament for Morley and Outwood (2010-2015) and MP for Normanton (2005-2010).  As Chief Economic Adviser to the Treasury (1997-2004), Balls led the design of policies including independence of the Bank of England, the New Deal jobs programme, the Five Tests Euro assessment, Sure Start, tax credits and the national minimum wage. As a Treasury Minister, he was commissioned by the G7 Finance Ministers to prepare a report with Sir Jon Cunliffe (now deputy Governor of the Bank of England) on Economic Aspects of the Israel-Palestine conflict.  At the Department for Children, Schools and Families, Balls brought together schools and children's policy for the first time in the Children's Plan and pushed through radical and progressive policies including raising the education and training age to 18, reform of the social work profession, establishing the support staff negotiating body and extra investment in youth services and short breaks for disabled children and their families.  As Shadow Chancellor, he was awarded the Spectator Parliamentarian of the Year and the Political Studies Association Politician of the Year.  Balls received his MPA from HKS in 1990, was a teaching fellow in Harvard’s Department of Economics (1989-90), and was a leader writer and columnist at the Financial Times (1990-94) where he was the WINCOTT Young Financial Journalist of the Year. He has also written regularly for the Guardian, New Statesman and Tribune and co-authored a number of books, papers, articles and pamphlets.  His faculty sponsor is Lawrence Summers, Charles W. Eliot University Professor of Harvard University and Director of the Mossavar-Rahmani Center for Business and Government.  Email: ed_balls@hks.harvard.edu


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Lewis Kaden is currently a Senior Advisor at TGG Group; Lead Director of ArcelorMittal SA, the world’s leading steel and mining company; Chairman of the board of the Markle Foundation; and Vice Chairman of the board of the Asia Society.  Kaden is the John Harvard Gregory Lecturer on World Organization and a Senior Fellow of the Program on Corporate Governance at Harvard Law School and a Research Fellow of the Mossavar-Rahmani Center on Business and Government at Harvard’s Kennedy School of Government.  Kaden also serves as a trustee on the boards of the Center for New American Security, Human Rights First, the Business Council for International Understanding, and the Century Foundation, and is a member of the Trilateral Commission and the Council on Foreign Relations.  From 2005 to 2013, Kaden was Vice Chairman of Citigroup.  At Citi, he was a member of the Executive Committee, Business Heads Committee, and Business Development Committee; he was Chairman of the Business Practices Committee, Controls and Compliance Committee, the Public Sector Clients Group, and the Citi Foundation. Before joining Citigroup, he served for 21 years as a partner at Davis, Polk & Wardwell.  From 1976-1984, Kaden was a Professor of Law at Columbia Law School, where he also served as the Director of the Center for Law and Economic Studies from 1980 to l984.  He was Counsel to the Governor of New Jersey from 1974-1976.  He was the Chairman of the United States government’s Overseas Presence Advisory Panel (1998-2001), the New York State Industrial Cooperation Council, and Governor Mario Cuomo’s Commission on Competitiveness (1987-1992).  He served as a moderator for the Public Broadcasting System’s Media and Society Seminars, including the “Ethics in America” series, which won a Peabody award.  He graduated from Harvard College in 1963, and was the de Jersey John Harvard scholar at Emmanuel College, Cambridge University, from 1963 to 1964.  In 1967 he received his LL.B. from Harvard Law School, where he was a member of the Law Review. Kaden is a former M-RCBG senior fellow. He teaches BGP-450M Globalization: Business, Legal and Public Policy Issues. Email: lewis_kaden@hks.harvard.edu


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Marshall Lux has served as a financial-services consultant advising some of the world’s most important bankers, financiers, and C-suite executives for nearly 30 years. Most recently, he has served as a senior partner and managing director at The Boston Consulting Group (BCG), and the head of its North American private equity practice, which he helped build. He has transitioned to be a Senior Advisor at BCG, where he will continue to remain active, to devote time to his role as senior fellow and to serve on corporate and private equity boards. Lux has built a wide network of financial institutions and private equity firms globally and has worked on due diligence for some of the largest private equity deals in history. During 2008-2009, he served as chief risk officer for all consumer products at JPMorgan Chase & Co. He reported to the bank's board, dealt with regulators, oversaw some 10,000 people and managed mortgages, credit cards, auto and student loans on a daily basis. Later, Lux moved into financial-services investment banking as an MD overseeing mergers and acquisitions and related financings. Throughout his career, Lux has also participated in 35 pro bono assignments and has served on a number of non-profit boards, including the Harlem Children’s Zone, the New York Historical Society’s Chairman’s Council, the New York Tenement Museum, Junior Achievement, and Reading is Fundamental. After 9/11, Lux was one of the leaders of a cross-firm consortium looking at the cost of the attack on various New York industries, personally overseeing the financial module. He also worked for the New York City Fire Department, analyzing the 9/11 audio tapes to understand how to be better prepared for future events; ten years later, he returned to develop an operational strategy through 2020 for the NYFD. He recently designed and taught a course at New York University’s Stern School of Business on consulting and he was recently accepted as a member of the Council on Foreign Relations. A former M-RCBG senior fellow, Lux, a summa cum laude graduate of Princeton University’s Woodrow Wilson School and a Ford and Baker Scholar at Harvard Business School, focused his research on the unanticipated consequences of the Dodd-Frank Reform and Consumer Protection Act. Email: marshall_lux@hks.harvard.edu


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Peter Sands was Group Chief Executive of Standard Chartered Bank from November 2006 to June 2015.  He joined the Board of Standard Chartered PLC as Group Finance Director in May 2002, responsible for Finance, Strategy, Risk and Technology and Operations.  Prior to this, Sands was Director and Senior Partner at worldwide consultants McKinsey & Co. Before joining McKinsey, he worked for the United Kingdom’s Foreign and Commonwealth Office.  Sands is the lead non-executive board member of the Department of Health in the United Kingdom and the co-chair of the India UK CEO Forum. He holds a number of board memberships including the World Economic Forum and Lingnan University and is Governor of the National Institute of Economic and Social Research. He graduated from Oxford University and holds and MPA from HKS (1988), where he was a Harkness Fellow. Sands is a former senior fellow at the Mossavar-Rahmani Center for Business & Government. As a research fellow, Sands’ research explores a variety of topics related to banks and financial markets.  His faculty sponsor is Richard Zeckhauser, Frank Plumpton Ramsey Professor of Political Economy.  Email: peter_sands@hks.harvard.edu


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Sir Paul Tucker is chair of the Systemic Risk Council, a senior fellow at the Center for European Studies at Harvard University, and a research fellow at Harvard Kennedy School's Mossavar-Rahmani Center for Business and Government. From 2009 to late 2013 he was Deputy Governor at the Bank of England, having joined the Bank in 1980. He was a member of all of the Bank of England's statutory policy committees: the Monetary Policy Committee, Financial Policy Committee (vice chair), Prudential Regulatory Authority Board (vice chair), as well as of the Court of Directors. Internationally, he was a member of the steering committee of the G20 Financial Stability Board, and chaired its Committee on the Resolution of Cross-Border Banks in order to solve the “too big to fail” problem. He was a member of the board of directors of the Bank for International Settlements, and was chair of the Basel Committee for Payment and Settlement Systems from April 2012. He is a member of the Board of the Financial Services Volunteer Corps, a director at Swiss Re, a Visiting Fellow of Nuffield College Oxford, a member of the Advisory Council of the AQR Asset Management Institute at the London Business School, and a Governor of the Ditchley Foundation. Email: paul_tucker@hks.harvard.edu; website: http://paultucker.me/


Rodrigo_Vergara.02.jpgRodrigo Vergara was Governor of the Central Bank of Chile between 2011 and 2016. Between 2009 and 2011 he was member of the Policy Board of the Central Bank of Chile. Mr. Vergara graduated in economics from Universidad Católica de Chile in 1985.  He holds a Ph.D. in Economics from Harvard University (1991). Between 1985 and 1995 he worked at the Central Bank of Chile, rising to the position of Chief Economist in 1992. In 1995 he joined the Center for Public Studies—an independent Chilean think tank—where he was coordinator of the Macroeconomics Department. From 2003 until his appointment to the Bank’s Board, Mr. Vergara was full professor at the Economics Department of Universidad Católica. Mr. Vergara has been economic advisor to the central banks and governments of several countries in Latin America, Eastern Europe, Asia and Africa, and has been an external consultant for the World Bank, the International Monetary Fund, the Inter-American Development Bank and the United Nations. He has been member of the Presidential Advisory Council on Work and Equity, of the Advisory Council on the Chile-United States Free Trade Agreement, of the National Savings Commission, of the Conicyt Economics Group. He is member of the editorial board of journals Estudios Públicos and Economía Chilena. Mr. Vergara has authored numerous articles published in specialized professional journals and has edited several books. He is currently Senior Research Economist at the Center for Public Studies in Santiago and professor at the Catholic University of Chile. He is also an economic consultant and member of the board of directors of several companies.