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Research Fellows

Ed Balls | Marshall Lux | Ndidi Nwuneli |Peter Sands | Paul Tucker | Rodrigo VergaraAntonio Weiss


Research Fellows

Ed BallsEd 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


Marshall LuxMarshall 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


Ndidi NwuneliNdidi Nwuneli is the managing partner of Sahel Consulting which works across West Africa, unlocking the agriculture and nutrition potential in the region. She is also the co- founder of AACE Foods, which was established in 2009 to fight malnutrition, reduce post-harvest losses among smallholder farmers and displace imports. She is the founder of LEAP Africa which inspires, empowers and equips a new cadre of principled, disciplined and dynamic young leaders in Africa. Ndidi started her career as a management consultant with McKinsey & Company, working in their Chicago, New York and Johannesburg Offices. She holds an M.B.A. from Harvard Business School and an undergraduate degree with honors from the Wharton School of the University of Pennsylvania. She was a Senior Fellow at the Mossavar-Rahmani Center for Business & Government at the Harvard Kennedy School in 2014/2015 and an Aspen Institute New Voices Fellow in 2018. Ndidi was recognized as a Young Global Leader by the World Economic Forum and received a National Honor from the Nigerian Government. She was listed as one of the 20 Youngest Power African Women by Forbes. Ndidi serves on the boards of Nigerian Breweries Plc. (Heineken), Godrej Consumer Products Ltd. India, Fairfax Africa Holdings Canada, the World Vegetables Center (Taiwan), Royal DSM Sustainability Board, Netherlands, the Center for Memories and the African Philanthropy Forum. Ndidi is the author of “Social Innovation in Africa: A Practical Guide for Scaling Impact," published by Routledge. She is a TED Global speaker and her work has been featured on CNN, BBC and a range of international and local media outlets. Email: nnwuneli@hks.harvard.edu


Peter SandsPeter Sands became the Executive Director of The Global Fund to Fight AIDS, Tuberculosis and Malaria, headquartered in Geneva, in March 2018. A former Chief Executive Officer of Standard Chartered PLC, one of the world’s leading international banks, Sands has been a research fellow at Harvard University since 2015, dividing his time between the Mossavar-Rahmani Center for Business and Government at Harvard Kennedy School and the Harvard Global Health Institute, working on a range of research projects in financial markets and regulation, fintech and global health. He 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


Paul TuckerSir Paul Tucker is chair of the Systemic Risk Council, a research fellow at Harvard Kennedy School's Mossavar-Rahmani Center for Business and Government, and author of Unelected Power (Princeton University Press, 2018). His other activities include being a senior fellow at the Center for European Studies at Harvard University; president of the UK’s National Institute for Economic and Social Research; a director at Swiss Re; a member of the Board of the Financial Services Volunteer Corps, and a Governor of the Ditchley Foundation. For over thirty years he was a central banker, and a member of the Bank of England’s Monetary Policy Committee from 2002. He was Deputy Governor from 2009 to late 2013, including serving on the Financial Policy Committee (vice chair) and Prudential Regulatory Authority Board (vice chair). 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 to solve “too big to fail”. 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. Email: paul_tucker@hks.harvard.edu; website: http://paultucker.me/


Rodrigo VergaraRodrigo 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.


Antonio Weiss headshot with US flagAntonio Weiss is currently a Research Fellow at M-RCBG. He served as Counselor to the Secretary at the United States Department of the Treasury, where he worked on domestic and international issues related to financial markets, regulatory reform, job creation, consumer finance, and broad-based economic growth. Since joining the Obama Administration, he served as the point-person on the debt crisis in Puerto Rico, working closely with members of Congress to pass legislation to allow an orderly restructuring of the Commonwealth’s debt. This has been called the most significant piece of economic legislation in 2016. Mr. Weiss led Treasury’s debt management team that oversees the Nation’s finances and initiated the most comprehensive review of the Treasury market in nearly two decades. Mr. Weiss advised the Secretary on the implementation of financial regulatory reform and policy issues related to financial stability, including the work of the Financial Stability Oversight Council’s review of potential threats to financial stability arising from asset management products and activities. Mr. Weiss coordinated the Department’s housing finance policy efforts and oversaw the Department’s housing programs aimed at assisting struggling homeowners, which received additional funding during his tenure at Treasury.  Mr. Weiss also led Treasury's review of developments in fintech, including the publication of a white paper on marketplace lending, which made several recommendations to enhance consumer and small business protections in this emerging sector. In recognition of his achievements at Treasury, Mr. Weiss was presented the Alexander Hamilton Award, which is the Department’s highest honor. Prior to joining Treasury, Mr. Weiss served in various leadership roles at Lazard in New York and Europe, including as Global Head of Investment Banking from 2009 to 2014. He has advised many of the world’s leading corporations on their most significant strategic decisions.  From 2000 to 2009, Mr. Weiss was based in Paris, where he was Vice Chairman of European Investment Banking and subsequently Global Head of Mergers and Acquisitions. Mr. Weiss is a member of the Council on Foreign Relations and a Director of the Volcker Alliance and the French-American Foundation.  He was Publisher of the leading literary quarterly, The Paris Review. Mr. Weiss earned his bachelor’s degree from Yale College and M.B.A. degree from Harvard Business School, where he was a Baker Scholar and Loeb Fellow.  He was an M-RCBG Senior Fellow from 2017-2019. Email: antonio_weiss@hks.harvard.edu