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YPFS Team

Andrew Metrick

Program Director and Janet L. Yellen Professor of Finance and Management

Metrick’s current research and teaching is focused on financial stability, including the regulation of systemic risk, the activities of complex financial institutions, and the causes and consequences of the financial crisis of 2007-2009. From August 2009 to July 2010, he served on the staff of the Council of Economic Advisers and as the financial economist staffing the President’s Economic Recovery Board, where he worked extensively on what became the Dodd-Frank Act, and on many areas relating to the ongoing crisis.

Shavonda Brandon

Research Support Assistant

Shavonda Brandon joined the YPFS team as a Research Support Assistant  in July 2019. She is originally from Bridgeport, CT. She graduated from the University of Connecticut in 2014 with a B.A. in Economics and a minor in English. Shavonda serves to support the implementation of several YPFS strategic projects.

Ashley Cumberledge

Assistant Director, Yale Program on Financial Stability and Master of Management Studies in Systemic Risk

Ashley joined the Yale School of Management in 2014. She initially served as the assistant to Andrew Metrick and Gary Gorton. In 2017, she became the Yale School of Management’s first Assistant Director of the YPFS and Master of Management Studies in Systemic Risk program. Ashley is the organizer of the annual Yale Program on Financial Stability Institute.

Jaan Elias

Director, Case Research and Development

In 2006, Jaan Elias became the Yale School of Management’s first Director of Case Study Research. In his time at Yale, Elias and his team developed the “raw” case study format that draw together Internet links, interactive exhibits, text and video on a multimedia, web platform. These cases have been widely used not only at Yale, but in management curriculum through the world.  Elias received a Ph.D. in Organizational Behavior (a joint degree program between the Harvard Sociology Department and the Harvard Business School).

Lily Engbith

Research Associate

Lily Engbith originally joined the New Bagehot Project as a Research Associate in 2017. After having spent the 2018-2020 academic years teaching English as a Yale-China Fellow based in Hong Kong, she is thrilled to be returning to the YPFS team. Lily graduated from Yale with an Intensive BA in political science, with a focus on American institutions and comparative democratic theory. 

William B. English

Professor in the Practice of Finance

Bill English joined Yale University from the Board of Governors of the Federal Reserve System, where he was the Senior Special Advisor to the Board for monetary policy. Over more than 20 years at the Board of Governors, he has held a range of positions, including, from 2010 to 2015, Director of the Division of Monetary Affairs and Secretary to the Federal Open Market Committee. In that position, Bill oversaw the development of monetary policy, working extensively on issues related to asset purchases, policy normalization, and policy communication. Prior to joining the Federal Reserve, Bill taught at the University of Pennsylvania and the University of Chicago. He received a PhD in economics from the Massachusetts Institute of Technology in 1986 and a BA in economics and mathematics from Yale University in 1982.

Greg Feldberg

Research Scholar and Director of Research

Greg Feldberg is a Research Scholar at the Yale School of Management and Director of Research for the Yale Program on Financial Stability. Prior to joining the YPFS, Feldberg spent six years at the Office of Financial Research, where he helmed the Office’s annual Financial Stability Report and other publications. In 2010, he was the Director of Research at the Financial Crisis Inquiry Commission, which was established by Congress to investigate the causes of the global financial crisis. Feldberg spent 10 years at the Federal Reserve Board as a researcher and financial analyst. He has also worked in the financial industry, heading technology research teams at two investment banks. His research focuses on financial stability, macroprudential policy, and financial crisis management.

Sean Fulmer

Research Associate

Sean Fulmer joined the YPFS team as a Research Associate in 2020. They received a B.S. in International Economics and a minor in Portuguese from Georgetown University. While there, they completed an honors thesis on the macroeconomic and distributional impacts of natural disaster relief.

Gary Gorton

Co-Director of the Systemic Risk Institute and Frederick Frank Gary Gorton, Class of 1954 Professor of Management and Finance

Gorton has done research in many areas of finance and economics, including both theoretical and empirical work. His recent work on the financial crisis, particularly the role of the repo market and the shadow banking system, has been influential in shaping how the events of 2007-2008 are understood. He is the author of Slapped by the Invisible Hand: The Panic of 2007 (Oxford University Press) and Misunderstanding Financial Crises (Oxford University Press).

Ben Hoffner

Research Associate

Ben Hoffner joined the YPFS team as a Research Associate in August 2021. He received a B.S. in International Economics with minors in Italian and Philosophy from Georgetown University’s School of Foreign Service. He is originally from San Francisco, CA.

Alex Hoglen

Program Coordinator, Yale Program on Financial Stability and Master of Management Studies in Systemic Risk

Alex joined the Yale School of Management in 2018 and joined the YPFS team in 2019. Alex serves as the primary faculty support for Andrew Metrick and Gary Gorton.

Manuel León Hoyos

Research Associate

Manuel León Hoyos joined the YPFS team as a Research Associate in 2018. He is originally from Merida, Yucatan, Mexico. He graduated from Webster University in 2017 with a B.A. in Economics and International Relations and a M.A. in International Relations. Manuel is a chess Grandmaster and aspires to earn a PhD in Economics.

Steven Kelly

Research Associate

Prior to joining YPFS, Steven Kelly worked in capital & systemic risk management for a large insurer.  He graduated from the University of Wisconsin with degrees in Finance and Political Science. 

Adam Kulam

​Research Associate

Adam Kulam joined the YPFS team as a Research Associate in July 2019. He received a B.A. in Economics and English from the University of Notre Dame, where he composed an honors thesis about American civil disobedience. He also founded the “Federal Reserve and Fiscal Challenge Club,” an on-campus student group that researches fiscal and monetary policy. His hometown is Munster, Indiana.

Natalie Leonard

Research Associate

Natalie Leonard joined the YPFS team in July 2020. She is originally from Tucson, Arizona. Natalie graduated from the University of Chicago with BA’s in Economics and Philosophy and intends to earn a PhD in economics

Christian McNamara

Director, New Bagehot Project

Prior to joining the staff of the YPFS, McNamara spent several years as an associate at a law firm in New Haven where his practice focused on M&A, private equity and venture capital transactions, as well as the preparation of securities filings.  McNamara has also worked as a strategic consultant for a consulting firm focused on the social sector.  McNamara received a BBA from the University of Notre Dame and a JD from Harvard Law School.

Carey Mott

Research Associate

Carey Mott joined the YPFS team in August 2021. Previously, he was an associate at the Federal Reserve Bank of New York. Carey started his career at the Federal Reserve Bank of Boston and graduated from the University of Colorado Boulder with a B.A. in Economics.

Sharon Nunn

Research Associate

Sharon Nunn joined the YPFS team as a Research Associate in August 2020. Previously, she spent two years as an economics reporter for The Wall Street Journal's Washington, D.C., bureau. Sharon then worked for a D.C.-based global financial services litigation firm. She graduated from the University of North Carolina—Chapel Hill in 2017 with a B.A. in Broadcast Journalism and Chinese.

Kaleb Nygaard

Research Associate

Prior to joining YPFS in 2018, Kaleb worked at the Federal Reserve Bank of Chicago. He has a bachelor's degree in financial economics from Brigham Young University Idaho and a master's degree in systemic risk from Yale. On the side, Kaleb hosts two central banking podcasts - The Reserve and The Bankster Podcast.

June Rhee

Director, Master of Management Studies in Systemic Risk

Prior to joining the YPFS, Rhee was a fellow at the Harvard Law School’s Program on Corporate Governance and served as an editor for the Harvard Law School Forum on Corporate Governance and Financial Regulation. During her fellowship, Rhee focused on corporate governance problems within U.S. public companies. Rhee also spent several years as an associate at a law firm in New York where her practice focused on securities regulation and structured finance, and a general counsel for Samsung Corporation where she managed compliance and governance issues.  Rhee received a JD from Harvard Law School.

Corey Runkel

Research Associate

Corey Runkel joined the YPFS team as a Research Associate in May 2020. He received his B.A. earlier that month from the University of Virginia. Combining majors of Economics with Political & Social Thought, he analyzed the political impacts of the housing bubble through a policy conceived in response to Global Financial Crisis-era foreclosures. He is originally from Burke, Virginia.

Ezekiel Vergara

Research Associate

Ezekiel Vergara joined the YPFS team in August 2021. He is originally from Miami, Florida and holds a BA from Dartmouth College in Government and Philosophy. At Dartmouth, he composed an honors thesis on the ethics of revolutions. He has various interests in both philosophy and economics.

Roz Wiggins

Director, Global Financial Crisis Project

Wiggins joined the YPFS with over two decades of experience in securities disclosure, corporate governance, Sarbanes-Oxley compliance, and business law from her years as in-house counsel at Pitney Bowes and Equifax.  Wiggins was also previously an adjunct professor at the University of Connecticut Law School where she co-taught a course on Tax-Exempt organizations.  She is particularly interested in the corporate governance aspects of decisions made during the crisis and teaches a version of Professor Metrick’s Global Financial Crisis class in the MBA for Executives program. Wiggins began her career at the law firm of Day, Berry and Howard.  She received a BA from Yale and a JD from Stanford Law School.

Research Associate Alumni