The CFRM program is pleased to announce its external Advisory Board:
- Paul Bouchey, CIO, Parametric Portfolio Associates
- Keith Ferguson, CIO, UW Investment Management
- John McMurray, CRO, Russell Investments
- John Stewart, CRO, Boeing Employee Credit Union
- George Zinn, Corporate VP and Treasurer, Microsoft
The program board also benefits from the following Special Focus Advisors, who provide guidance to faculty in the areas of fixed income and energy markets:
- Andrew J. Kalotay, President, Andrew Kalotay Associates
- Mary Pugh, CEO and CIO, Pugh Capital
- Chris Strickland, CEO and Co-Founder, Lacima
Paul Bouchey, MS, CFA, Chief Investment Officer, Parametric Portfolio Associates
Mr. Bouchey leads Parametric’s Investment, Research and Strategy activities. He is responsible for setting the overall research agenda and new product development. Prior to joining Parametric in 2006, Paul was a senior researcher at Russell Investment Group, where he focused on simulation, optimization, and quantitative decision models for institutional and private clients. He holds a patent on cross-sectional volatility indexing and has authored more than 10 academic and practitioner articles in journals such as The Journal of Portfolio Management, The Journal of Wealth Management, and The Journal of Index Investing. Paul earned a B.A. in mathematics and physics from Whitman College and an M.S. in Computational Finance and Risk Management from the University of Washington. He is a CFA® charterholder.
Keith Ferguson, MBA, CIP, Chief Investment Officer, University of Washington Investment Management
John McMurray, MBA, Chief Risk Officer, Russell Investments
John Stewart, Ph.D., Chief Risk Officer, Federal Home Loan Bank Seattle
John is currently the Chief Risk Officer at Federal Home Loan Bank of Seattle since 2010, where he has oversight responsibilities for Enterprise Risk Management including Credit Risk, Market Risk and Operational Risk functions. Mr. Stewart was previously Senior Manager, Consulting and Valuations with Moss Adams in Seattle, where he was responsible for portfolio management strategies including valuation of complex financial instruments, risk quantification approaches, enterprise risk management, risk-adjusted performance measurement, management reporting, and regulatory compliance. In addition, he was SVP Risk Quantification with JP Morgan Chase-WAMU for seven years, where he was the Basel II Program Owner and Economic Capital group leader.
Education: Mr. Stewart received a B.A. degree in Philosophy as well as a B.S. in Mechanical Engineering from the University of Minnesota Twin-Cities, and a Ph.D. degree in Mechanical and Aerospace Engineering from Princeton University. He is also a CFA Charterholder.
George Zinn, MBA, Corporate Vice President and Treasurer, Microsoft
Special Focus Advisor Biographies
Andrew J. Kalotay, President, Andrew Kalotay Associates
Andrew J. Kalotay, President of Andrew Kalotay Associates, is a leading authority on the management of corporate and municipal bonds. He has published extensively on a variety of bond-related topics, including valuation, debt management, and tax management. His innovations include the concept of refunding efficiency and the Ratchet Bond (a surrogate for conventional callable bonds that eliminates the transaction costs associated with refunding). Previously, Dr. Kalotay was with Salomon Brothers in the Bond Portfolio Analysis Group, and prior to that he worked at AT&T Treasury and at Bell Laboratories. On the academic side, he was the first director of the Center for Finance & Technology at Polytechnic University and has taught at Wharton, Columbia and Fordham University. He is a member of the Fixed Income Analyst Society’s Hall of Fame.
Education: B.Sc. and M.Sc. from Queen’s University, and a Ph.D. from the University of Toronto.
Mary Pugh, CEO and CIO, Pugh Capital
Mary Pugh is CEO and CIO of Pugh Capital, a company she founded in 1991. Pugh Capital specializes in managing bond portfolios for institutional clients. The firm now manages $2.7 billion on behalf of its clients. Mary has over thirty years of institutional portfolio management experience. She has a long history of community service and is a Board Member of The Seattle Foundation and Chair of the Investment Committee. She also serves on the Investment Committees for the University of Washington and Seattle Academy.
Education: B.A. in Economics from Yale University.