The Unintended Consequences of Dodd-Frank: How Laws Get Arbitraged
Marshall Lux, M-RCBG Senior Fellow
The Fate and State of Community Banking under Dodd-Frank
Monday, February 23
4:30-6:00pm
Fainsod, L-324
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. In the past year, he 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. As a 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, is focusing on the unanticipated consequences of the Dodd-Frank Reform and Consumer Protection Act. Robert Glauber, Adjunct Lecturer of Public Policy, has agreed to serve as sponsor on the project. email: marshall_lux@hks.harvard.edu
M-RCBG senior fellow Marshall Lux.