Business Management
Research Teams

Scientific Advisory Board

Don Ezra
Mr. Ezra was most recently co-chair, global consulting for Russell Investments worldwide. He is a widely published author in the pension fund industry. In addition to numerous articles and papers, his books include Understanding Pension Fund Finance and Investment (1979), The Struggle for Pension Fund Wealth (1983), Pension Fund Excellence (1998) and The Retirement Plan Solution: the Reinvention of Defined Contribution (2009). Mr. Ezra has served on the editorial advisory boards of journals in the U.S. and Canada. He has been a delegate to many formal national conferences on retirement security, as well as a speaker at conferences on international comparisons. Among many awards, he received EBRI's Lillywhite Award in 2004 for extraordinary life contributions to Americans' benefit security.

Blake Grossman
Mr. Grossman was most recently Vice Chairman and Head of Scientific Equities at BlackRock. Previously, Mr. Grossman served as Global CEO of Barclays Global Investors. He led the development of BGI's global business and personally oversaw BGI's active alternative investment strategies globally and the institutional business in the United States. Previously he served as Global CIO overseeing investment management, research, and business activities at the Advanced Active Strategies Group. Mr. Grossman founded BGI's advanced strategies group in 1992, after serving as the Head of indexed and enhanced equity strategies worldwide. He joined BGI in 1985, taking responsibility for the launch and management of the U.S. Alpha Tilts enhanced equity funds. In 1986, Financial Analysts Journal awarded Mr. Grossman the Graham and Dodd Award for his research, co-authored with William F. Sharpe. He graduated Phi Beta Kappa from Stanford University with a BA and MA in Economics.

Dr. Terry Marsh
Dr. Terry Marsh is CEO of Quantal International and an Emeritus Professor of Finance at UC Berkeley. He has consulted for the New York Stock Exchange, the Options Clearing Corporation, the former Industrial Bank of Japan, and was a member of the Presidential Task Force on Market Mechanisms that investigated the October 1987 stock market crash. Dr. Marsh served on the finance faculty at UC Berkeley’s Haas School of Business until 2005, and is a former chairman of the Finance Group there. Before joining Berkeley, he was an Associate Professor of Finance at MIT, and was a Visiting Professor of Economics at the University of Tokyo in 1993. He received a Batterymarch Fellowship in 1984 and was a National Fellow at Stanford's Hoover Institution. Dr. Marsh is a Member of the Rosebrook Capital Advisory Board, a Member of the Advisory Board for Studies in Economics and Finance, and a Board Member of the Japan Society of Northern California. He is an Associate Editor of the industry Journal of Fixed Income and Journal of Investing, and of World Scientific’s Review of Pacific Basin Financial Markets and Policies. Dr. Marsh received his MBA and PhD degrees from the University of Chicago, and a B.Com (Honors) degree and University Medal from the University of Queensland. 

Dr. Andrew Rudd
Dr. Rudd is the co-founder and former chairman and CEO of Barra, Inc. He served as the CEO from 1984 to 1999. In 2004, Barra was acquired by Morgan Stanley Capital International. In 1995 Dr. Rudd founded Advisor Software Inc. and is currently Chairman and CEO.  From 1977 to 1982, he was a Professor of Finance and Operations Research at the Johnson School at Cornell University. Dr. Rudd chairs the Rudd Family Foundation, which supports educational and youth activities. He is a trustee of The Blum Center, a member of The Johnson School Advisory Council. He has co-authored two industry-leading books and is widely published on a broad range of domestic and international investment practices and theories. He received his BSc from University of Sussex in England and received an MS in Operations Research, an MBA and a PhD in Operations research and Finance from UC Berkeley.

Dr. Patrick Welton
Dr. Welton is Co-Founder and Chief Executive Officer of Welton Investment Corporation. In his role, he oversees all internal departments, with an emphasis on trading and risk management. He has been an active investor since 1981 and an investment manager since 1989. Dr. Welton has served on committees for the Managed Funds Association (MFA) and as a member of the Board of Directors of the National Futures Association (NFA) from 1997-2000. He has also spoken at numerous conferences in the U.S. and internationally, participated in panel presentations in many venues, and authored articles in a variety of publications focusing on alternative investments. Dr. Welton currently serves as an investment committee member of a foundation, a California pension plan, and an endowment. He holds undergraduate, doctoral and postdoctoral degrees from the University of Wisconsin, UCLA, and Stanford University respectively. At Stanford University he did postdoctoral work in medicine, he received an MD in medicine and Biophysics from UCLA, and completed a BS in Molecular Biology and BA in English at University of Wisconsin-Madison.