September 25, 2017
Dean Peter Henry and Vice Dean Raghu Sundaram welcomed guests for an evening of conversation with regional alumni at NYU Washington, DC as NYU celebrated its fifth-year anniversary in the US capital.
The evening's talk included details about NYU Stern's new Executive MBA Program at NYU Washington, DC.
Peter Blair Henry is Dean of New York University's Leonard N. Stern School of Business. The youngest person to hold the position, he assumed the Deanship in January 2010 and joined the NYU Stern Faculty as the William R. Berkley Professor of Economics and Finance.
Henry joined NYU Stern from Stanford University, where he was the Konosuke Matsushita Professor of International Economics, the John and Cynthia Fry Gunn Faculty Scholar, and Associate Director of the Center for Global Business and the Economy at the Stanford University Graduate School of Business.
Henry currently serves on the boards of Citigroup and General Electric. Additionally, he is a board member of the Council on Foreign Relations, the National Bureau of Economic Research, and the Economic Club of New York. In 2015, Henry was awarded the Foreign Policy Association Medal, the highest honor bestowed by the organization.
An expert on the global economy, Henry led the external economics advisory group for then-Senator Barack Obama's presidential campaign in 2008. Following the historic victory on November 4, Henry was chosen to lead the Presidential Transition Team's review of international lending agencies such as the International Monetary Fund (IMF) and the World Bank. In June 2009, President Obama appointed him to the President's Commission on White House Fellowships.
Henry's expertise in the areas of emerging markets and international finance has made him a regular speaker at the IMF and has led him to testify before the United States Senate Committee on Foreign Relations and before various ambassadors to the United Nations. Additionally, Henry has served as a macroeconomic advisor to the governments of Ghana and Jamaica.
The author of numerous articles and book chapters, Henry is best known for a series of publications in the three flagship journals of the American Economic Association that overturn conventional wisdom on the topics of debt relief, international capital flows, and the role of institutions in economic growth: "Debt Relief" Journal of Economic Perspectives (Winter 2006); "Capital Account Liberalization: Theory, Evidence, and Speculation" Journal of Economic Literature (December 2007); "Institutions vs. Policies: A Tale of Two Islands" American Economic Review (May 2009).
Henry's writing also appears in Global Crises, Global Solutions, the published proceedings of the Copenhagen Consensus, an international conference on how to make the most efficient use of the world's scarcest resources. The Economist magazine named the conference publication one of the Best Business Books of 2004.
Henry's continuing research on emerging markets and international finance provides fundamental insights about the impact of economic reform on the lives of people in developing countries. It uses theory and data on asset prices, investment, wages, and GDP to grapple objectively with some of the most important and contentious economic questions of our time: Does debt relief help or hurt poor countries? Should emerging nations permit capital to flow freely in and out of their economies? Is it possible to reduce inflation without undermining economic growth?
His first book, TURNAROUND: Third World Lessons for First World Growth (Basic Books, March 2013), directly addresses such issues of economic efficiency as well as matters of international relations. In it, Henry argues that the secret to emerging countries' success (and to the future prosperity of the developed world as well) is discipline--a sustained commitment to a pragmatic growth strategy.
In many ways, TURNAROUND is an extension of Henry's very first lesson in international economics, which he received at the age of eight as his family moved from the Caribbean island of Jamaica to affluent Wilmette, Illinois. The elusive answer to the question of why the average standard of living can be so different from one country to another still drives him today.
Henry's research and teaching have received support from the National Science Foundation's Early CAREER Development Program (2001-2006). From 2000 to 2001, Henry was a National Fellow at the Hoover Institution.
Henry received his PhD in economics from the Massachusetts Institute of Technology (MIT) in 1997. While in graduate school, he served as a consultant to the Governors of the Bank of Jamaica and the Eastern Caribbean Central Bank (ECCB). His research at the ECCB contributed to the intellectual foundation for establishing the first securities exchange in the Eastern Caribbean Currency Area.
Prior to attending MIT, Henry was a Rhodes Scholar at Oxford University where he received a BA in mathematics and a Full Blue in basketball. He also holds a BA in economics with distinction and highest honors from The University of North Carolina at Chapel Hill where he was a Morehead Scholar, a National Merit Scholar, a member of Phi Beta Kappa, a Marshall Scholar-Elect, a reserve wide receiver on the varsity football team, and a finalist in the 1991 campus-wide slam-dunk competition.
Born in Kingston, Jamaica, in 1969, Peter Blair Henry became a US citizen in 1986. He lives with his wife of 20 years, child psychiatrist Lisa J. Nelson, and their four sons.
Rangarajan ("Raghu") Sundaram is the Edward I. Altman Professor of Credit and Debt Markets and Professor of Finance at New York University's Stern School of Business where he teaches derivatives pricing and risk-management.
He was formerly at the University of Rochester from 1988-96. He received his B.A. in Economics from the University of Madras, India, in 1982; his M.B.A. from the Indian Institute of Management, Ahmedabad, in 1984; and his Ph.D. in Economics from Cornell University in 1988.
Professor Sundaram's research in finance covers a range of areas including agency problems, executive compensation, corporate finance, derivatives pricing, and credit risk & credit derivatives. He has also published extensively in mathematical economics, decision theory, and game theory. His research has appeared in leading academic journals in finance and economic theory including, Econometrica, Journal of Economic Theory, Journal of Business, Journal of Financial Economics, Journal of Finance, and Review of Financial Studies, as also in several practitioner-oriented journals. He received the Jensen Award in 2001 from the Journal of Financial Economics and was a finalist for the Brattle Prize from the Journal of Finance in 2005.
Professor Sundaram is the author of A First Course in Optimization Theory (Cambridge University Press, 1996) and Derivatives: Principles and Practice (Mcgraw-Hill, 2010). He was Co-Editor of the Journal of Derivatives from 2002-08 and has served on several other editorial boards. In 2007, he became the inaugural recipient of the Distinguished Teaching Award from the Stern School of Business.
New York University Stern School of Business is extending its New York City-based Executive MBA program (EMBA) to downtown Washington, D.C. Now senior-level executives who work in the surrounding region, along with others who can travel periodically, can earn an MBA from the highest ranked EMBA program in this local market.
Designed with executives’ work-life balance needs in mind, NYU Stern’s EMBA D.C. program offers a once-a-month weekend format to minimize travel and time out of the office. Students will attend classes at New York University’s Washington, D.C., location in the heart of the city and just 15 minutes from either the airport or train station. They will earn their MBA in just under two years.
“Washington, D.C., is one of NYU’s most vibrant global locations and home to one of our largest groups of NYU alumni,” said Andrew Hamilton, President, New York University. “Coinciding with the fifth anniversary of NYU’s presence, the establishment of Stern’s new Executive MBA program will bring the knowledge, skills, and benefits of the highest-ranked such program to a city filled with talented, ambitious, experienced people who are eager for professional advancement.”
EMBA D.C. students will select one of two specialty tracks—Finance & Analytics or Strategy & Leadership—to deepen and broaden their competencies in the area most relevant to their career goals. A Global Study Tour—a one-week international, in-country residency in a market outside of the U.S.—will also give students direct international business exposure, including corporate visits.
“Washington, D.C., is one of the most dynamic hubs in which the private and public sectors, and business and policy, intersect,” said Peter Henry, Dean of NYU Stern School of Business. “We’ve curated our EMBA program, both in format and design, for D.C. to support executives who want to enhance their ability to inspire people and lead organizations.”
“Washington, D.C., was a natural market for our executive MBA program expansion, given the interest expressed by local business leaders for more convenient access to Stern’s professors and academic coursework,” said Raghu Sundaram, Vice Dean for MBA Programs. “We handpick the faculty who teach our executive MBA students, and the same Stern faculty who teach in our New York program will also teach in D.C.”
The inaugural cohort of EMBA D.C. students will enroll at Stern in August 2018. They will engage in a collaborative, rigorous learning environment alongside other highly experienced classmates in diverse industries and roles from the private and public sectors. Like their counterparts in New York, EMBA D.C. students will have access to Stern’s Career Center for Working Professionals as well as opportunities to connect with their New York classmates both formally and informally during their program.
As alumni, EMBA D.C. graduates will join a robust global network—110,000 Stern alumni and 500,000+ NYU alumni in 183 countries—creating significant opportunities for networking in virtually any industry or geography.
For more information on the application process and dates, visit the NYU Stern EMBA D.C. website.