Résumé (Download in PDF)


Post-doc (Dr. habil.) Finance, Universität Lüneburg, Germany, 1996

Doctorate (Dr. rer. pol.) Economics, Universität Lüneburg, Germany, 1991

MA (Dipl.-Volkswirt) Economics, Universität Göttingen, Germany, 1988

BA (Vordiplom) Economics, Universität Heidelberg, Germany, 1985

Professional Experience

American International Group, New York City, November 2012 - Present

Head of Property & Casualty Deals, Fortitude Re, August 2018 - Present

Lead the conceptualization and execution of runoff portfolio and legal entity acquisitions

Responsible for business relations with brokers, counter parties, and joint venture partners

Head of P&C Inforce Management, General Insurance and Legacy, March 2017 - August 2018

Led the conceptualization and negotiations of retroactive reinsurance solutions for P&C portfolios

Responsible for the transformation of the Global Benefits Network and its integration into AIG Multinational

Head of P&C Inforce Management, Legacy, March 2016 - March 2017

Responsible for the AIG - Berkshire Hathaway Adverse Development Cover ($25bn x $25bn, 80% vertical)

Responsible for portfolio exit solutions, including the divestiture of Group Dental and Student Health

Head of Group Benefits / Head of Global Disability Pricing Standards and Strategy, March 2015 - March 2016

Led AIG’s Group Benefits business (Life & Disability, Group Dental, Student Health, and Medical Stop Loss)

Performed a lead role in restructuring AIG’s Group Benefits business

Head of Actuarial Econometrics / Head of Innovative Actuarial Models, January 2014 - March 2015

Conceptualized the workers’ compensation Claims Settlement Strategy and oversaw its implementation

Directed the modeling of the Federal Reserve macro scenario stress test for the P&C business

Director Casualty Risk, November 2012 - January 2014

Developed an econometric model for the Federal Reserve macro scenario stress test for the P&C business

Authored a white paper on incentive design and control mechanisms related to Third-Party Administrators

National Council on Compensation Insurance, Boca Raton, September 2004 - October 2012

Director and Senior Economist, August 2005 - October 2012

Directed the modeling of the effects of legislative action, variation in economic activity, and changes in demographic conditions on loss costs and claim behavior in workers’ compensation

Pioneered in publications and presentations Bayesian econometric modeling in casualty actuarial science

Senior Economist, September 2004 - January 2005

Developed and trained actuarial staff on structural time series models of workers’ compensation loss costs

Federal Reserve Bank of St. Louis, October 1997 - August 2004

Senior Economist

Advised the Bank President on macroeconomic and financial markets conditions in preparation to FOMC meetings

Performed academic research on financial markets, financial institutions, and monetary policy

Academic Appointments

Auckland University of Technology, New Zealand, January 2005 - July 2005

Associate Professor of Finance

Universität Lüneburg, Germany, May 2002 - April 2004

Extraordinary Professor of Finance

Goethe-Universität Frankfurt, Germany, October 2002 - March 2003

Visiting Professor of Finance

The Wharton School, Financial Institutions Center, Philadelphia, July 1995 - June 1997

Senior Research Fellow, sponsored by Deutsche Forschungsgemeinschaft

Freie Universität Berlin and Humboldt Universität zu Berlin, Germany, July 1994 - June 1995

Post-doc Scholar, sponsored by Deutsche Forschungsgemeinschaft

The Wharton School, Finance Department, Philadelphia, September 1993 - June 1994

Visiting Scholar

Universität Wien, Vienna, Austria, July 1991 - February 1994

Assistant Professor of Financial Services

Military Service

Bundeswehr, Germany, July 1981 - June 1983

First Lieutenant, Navy Infantry Reserve


Hicks-Tinbergen Award, European Economic Association, 2006

Universitätspreis der Wiener Wirtschaft, Vienna Economic Chamber, 1992

Post‑doc Scholarships

Deutsche Forschungsgemeinschaft, July 1995 - June 1997

Research Grants

Influence of German Universal Banks on the Performance of Corporations: Theory and Empirical Evidence, Deutsche Forschungsgemeinschaft, July 1994 - September 1995

Selected Journal Articles

“Capital, Labor, and the Firm: A Study of German Codetermination,” with Gary Gorton, Journal of the European Economic Association 2 (2004), 863-905

“Pricing and Dividend Policies in Open Credit Unions,” with Bill Emmons, Journal of Institutional and Theoretical Economics 158 (2002), 234-255

“Universal Banking and the Performance of German Firms,” with Gary Gorton, Journal of Financial Economics 58 (2000), 29-80

“Corporate Governance, Ownership Dispersion, and Efficiency: Empirical Evidence from Austrian Cooperative Banking,” with Gary Gorton, Journal of Corporate Finance 5 (1999), 119-140

Federal Reserve Bank of St. Louis Review

“Macroeconomic News and Real Interest Rates,” with Kevin Kliesen, 88(2) (2006), 133-144

“Stock Return and Interest Rate Risk at Fannie Mae and Freddie Mac,” 87(1) (2005), 35-48

“Monetary Policy Actions, Macroeconomic Data Releases, and Inflation Expectations,” with Kevin Kliesen, 86(3) (2004), 9-22

“Asset Mispricing, Arbitrage, and Volatility,” with Bill Emmons, 84(6) (2002), 19-28

“Voting Rights, Private Benefits, and Takeovers,” 84(1) (2002), 35-46

“Equity Financing of the Entrepreneurial Firm,” 83(6) (2001), 15-27

“Membership Structure, Competition and Occupational Credit Union Deposit Rates,” with Bill Emmons, 83(1) (2001), 41-50

“Bank Competition and Concentration: Do Credit Unions Matter?”, with Bill Emmons, 82(3) (2000), 29-42

“The Asian Crisis and the Exposure of Large US Firms,” with Bill Emmons, 82(1) (2000), 15-34

“Credit Unions and the Common Bond,” with Bill Emmons, 81(5) (1999), 41-64

“Wages and Risk-Taking in Occupational Credit Unions: Theory and Evidence,” with Bill Emmons, 81(2) (1999), 13-31

“Universal Banking, Control Rights, and Corporate Finance in Germany,” with Bill Emmons, 80(4) (1998), 19-42

Selected Publications in Edited Volumes

“Mergers and Acquisitions in Germany: Social Setting and Regulatory Framework,” with Mark Wahrenburg, in: Jan Pieter Krahnen and Reinhard H. Schmidt (eds.), The German Financial System, Oxford (U.K.): Oxford University Press (2004), 261-287

“The Swiss Construction Sector and Public Procurement,” with Stefan Felder and Jörg Finsinger, in: Peter Zweifel (ed.), Services in Switzerland: Structure, Performance and Implications of European Economic Integration, Berlin: Springer Verlag (1993), 80-101

Selected Actuarial Publications

“The Impact of Physician Fee Schedule Introductions in Workers Compensation: An Event Study,” with Nathan Lord, Casualty Actuarial Society E-Forum, Spring 2013 (1), 1-36

“The Workers Compensation Tail,” Casualty Actuarial Society Variance 6(1) (2012), 48-77

“Indemnity Benefit Duration, Maximum Weekly Benefits, and Claim Attributes,” Casualty Actuarial Society E-Forum, Winter 2011 (2), 1-35