Benn Steil Named Linda J. Wachner Senior Fellow in Foreign Economic Policy

September 16, 1998

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New York City, August 3, 1998 -- Benn Steil will be the new Linda J. Wachner Senior Fellow in Foreign Economic Policy, Council on Foreign Relations President Leslie H. Gelb announced today. "Benn Steil is a real star in the international finance arena. His intellect and expertise will help build the Council into an even stronger center for economic and financial studies," Mr Gelb said.

Dr. Steil, a noted American expert in international finance and economics, comes to the Council from the Royal Institute of International Affairs in London, where he was most recently the Director of the International Economics Programme. Previously, he was a Senior Research Fellow at the Institute.

Dr. Steil received his D.Phil in Economics and his M.Phil in Management Studies from Oxford University. He received his B.Sc. in Economics summa cum laude from The Wharton School at the University of Pennsylvania.

Dr. Steil’s most recent book, The European Equity Markets, was widely acclaimed and has been influential in motivating stock market reforms in a number of countries. His doctoral thesis was on The Use of Currency Options in Hedging Foreign Exchange Exposure Risk. Dr. Steil’s other published research covers derivatives, financial market regulation, risk management, decision theory, and international trade.

At the Council, Dr. Steil’s writing and research activities will focus on the rapidly changing structure of international securities markets, and how U.S. policy toward both domestic and foreign market activity should adapt in consequence. He will also continue in his role as editor of International Finance, published by Blackwell.

Dr. Steil will be based at the Council offices in New York, beginning in January 1999. Daniel K. Tarullo, formerly Assistant to the President of the United States for International Economic Policy and a principal on both the National Security Council and the National Economic Council, has been the Linda J. Wachner Fellow in Washington since March. The Wachner Fellowship was established in 1998 by Linda J. Wachner, Chairman and CEO of Warnaco, to further the study of U.S. foreign economic policy at the Council on Foreign Relations. Dr. Steil will be the second Wachner Fellow since the program’s inception.