Securities Exchange Commission Chief Economist Returns
To Carnegie Mellon's Tepper School of Business Faculty
Chester Spatt Lauded by SEC Chairman for Leadership and Contributions
PITTSBURGH—Carnegie Mellon University's Tepper School of Business will welcome Chester Spatt's return to its faculty at the end of July, when he completes his term as chief economist and director of the Office of Economic Analysis at the U.S. Securities and Exchange Commission (SEC).
Spatt, who joined the Carnegie Mellon faculty in 1979, will resume his role as Mellon Professor of Finance and director of the Center for Financial Markets at the Tepper School. His research and teaching will focus on economic issues related to securities regulation, asset allocation and taxes. He is planning a new course on the economics of securities regulation for the spring of 2008.
"I am excited to be returning to the Tepper School at Carnegie Mellon, which has historically had such an important impact on financial economics and our markets. I am eager to incorporate my experiences at the SEC into my teaching and research," Spatt said.
In announcing Spatt's departure, SEC Chairman Christopher Cox said Spatt's "exceptional background, expertise and judgment concerning the economic underpinnings of our securities markets have been invaluable resources to the commission." Cox said he honored his "personal and professional contributions to the nation's markets and investors."
During his three years at the SEC, Spatt led the commission's economic analysis of many important issues, including the implementation of options expensing through models and markets, mutual fund market timing and late trading, option grant and exercise backdating, and executive compensation. He also helped forge stronger ties between the SEC and the academic community, which encouraged greater participation from academic experts in the policy-making process.
"We are delighted to welcome Chester's return to the Tepper School," said Dean Kenneth B. Dunn. "His contributions to the financial and world communities have been tremendous, and his expertise and experience will bring even greater knowledge and innovation to our faculty and students."