Rethinking Financial Disclosure Advisory Committee
Advisory Committee Co-Chairs
Cynthia M. Fornelli
Executive Director, Center for Audit Quality
Cindy Fornelli is Executive Director of the Center for Audit Quality (CAQ), a position she has held since the CAQ was established in 2007. In 2013, Fornelli was honored for the fifth time by Directorship magazine as one of the 100 most influential people on corporate governance and in the boardroom, and Accounting Today named her one of the 100 most influential people in accounting for the seventh consecutive year.
Fornelli currently serves on the Financial Accounting Standards Board’s Financial Accounting Standards Advisory Council and the Securities and Exchange Commission Historical Society’s Board of Trustees, Class of 2014. She previously served on the National Association of Corporate Directors’ 2010 Blue Ribbon Commission on the Audit Committee and 2009 Blue Ribbon Commission on Risk Governance. Prior to joining the CAQ, Fornelli was the Regulatory and Conflicts Management Executive at Bank of America and the Deputy Director, Division of Investment Management of the U.S. Securities and Exchange Commission. Fornelli is a graduate of Purdue University and received her J.D. at The George Washington University.
Cynthia Glassman
Senior Research Scholar, ICR
School of Business, The George Washington University
Cynthia A. Glassman is a Board member of Discover Financial Services, where she chairs the audit committee and of Navigant Consulting, where she chairs the nominating/governance committee and serves on the compensation committee. She is also a Senior Research Scholar in the Institute for Corporate Responsibility at the GWU Business School. Previously, she was appointed by President George W. Bush as Under Secretary for Economic Affairs at the U.S. Department of Commerce and as a Commissioner of the U.S. Securities and Exchange Commission, including serving as Acting Chairman.
Dr. Glassman has spent over 40 years in the public and private sectors focusing on financial services regulatory and public policy issues and on corporate governance, including 12 years at the Federal Reserve and 15 years at consulting firms. She is a Trustee of the SEC Historical Society; on the Advisory Board of the Center for Law, Economics, and Finance at the GWU Law School; and a Trustee of the Washington Tennis & Education Foundation. Dr. Glassman received her M.A. and Ph.D. in Economics from the University of Pennsylvania and her B.A. in Economics from Wellesley College. She was a supervisor in economics at the University of Cambridge, England, where she is an Honorary Fellow of Lucy Cavendish College.
Advisory Committee Members
Ambassador James K. Glassman
Chairman and CEO of Public Affairs Engagement and Visiting Fellow, American Enterprise Institute
Ambassador Glassman is chairman and CEO of Public Affairs Engagement, a Washington, DC-based public affairs firm. He is also a visiting fellow at the American Enterprise Institute (AEI), a Washington think tank, and serves as an appointed member of the Investor Advisory Committee
of the U.S. Securities and Exchange Commission.
In 2008 and 2009, he served as U.S. Under Secretary of State for Public Diplomacy and Public Affairs, the top strategic communications position in the federal government. He was widely praised for bringing new technology to global outreach.
Prior to that, he was Chairman of the U.S. Broadcasting Board of Governors, which oversees Voice of America and all other government-sponsored TV, radio, and Internet broadcasting. He was confirmed unanimously by the Senate for both his government positions and holds the lifetime title of ambassador.
After his government service, he spent four years as founding executive director of the George W. Bush Institute, the policy arm of the Bush Presidential Center in Dallas.
His career in media has included positions publisher of two of America’s leading public affairs magazines, the Atlantic Monthly and New Republic; editor-in-chief and co-owner of Roll Call, the congressional newspaper; and moderator of three weekly public affairs series on PBS and CNN.
He was chief investment writer for the Washington Post from 1993 to 2004, is the author of three books on personal investing, and is currently a monthly columnist for Kiplinger’s Personal Finance. He is the author, in the past 15 years, of more than 2,000 articles for such publications as the New York Times, the Wall Street Journal, Forbes, and the Los Angeles Times. He has spoken at some of the world’s most important forums, including the National Press Club (Washington), the Detroit Economic Club, and Chatham House (London).
Ambassador Glassman has served as a senior advisor to AT&T and SAP Corporations and as a member of the Policy Advisory Board of Intel Corp. Between 1996 and 2007, he was a fellow and then senior fellow at AEI, which he rejoined in 2013.
He is a graduate of Harvard University with a B.A., cum laude, in government. At Harvard, he was managing editor of the university daily, The Crimson.
J. Richard Knop
GW Trustee and Managing Member, FedCap Partners
Rick Knop is the founder (2010) and Co-Manager of FedCap Partners, LLC, a private equity fund focused on high-end solutions/technology companies dealing with the federal government.
Mr. Knop co-founded Windsor Group, LLC in 1992 and led its development into the premier investment bank for the government/defense contracting industry. Windsor Group was acquired in January of 2005 by BB&T Capital Markets and Mr. Knop led BB&T Capital Markets / Windsor Group until 2009.
With over 25 years of investment banking experience, Mr. Knop has closed a broad range of investment banking transactions. He has personally closed over 100 defense and government contractor mergers ranging from $10 million to $1.2 billion. In 2002, Mr. Knop was chosen as a finalist for Washington Technology’s Financier of the Year award in 2002 and in 2003 for the Association for Corporate Growth’s Dealmaker of the Year. In 2004, Mr. Knop was selected as the recipient of both the Greater Washington Technology’s Financier of the Year and the Association for Corporate Growth’s Dealmaker of the Year awards. In 2007, Mr. Knop was selected as the recipient of the Annual Technology “Good Scout” Award by the National Capital Area.
David Martin
Partner, Covington & Burling
David Martin is co-head of Covington & Burling’s securities practice and advises corporations and other entities, directors, financial professionals, investors and other clients in corporate, corporate governance, securities regulation and transactional matters. He has led teams of lawyers in corporate finance, business combination and other change of control transactions, including public offerings, spin-offs, proxy contests, and tender offers. He counsels boards, senior executives, and investors in a range of governance policies and procedures. His practice also includes enforcement cases before the U.S. Securities and Exchange Commission, internal investigations and corporate compliance issues.
Mr. Martin’s career includes seven years of service with the SEC, where, prior to joining Covington, he was the Director of the Division of Corporation Finance. In this position, he was the senior executive officer for the agency’s program for review of reports of public companies to securities markets and investors. Previously at the SEC, Mr. Martin served as special counsel to the Chairman.
Mr. Martin is a frequent lecturer and author of articles. He serves as an officer on the Board of the Securities and Exchange Commission Historical Society, having previously been its Chairman and President, and had four years of active duty service in the U.S. Navy.
Aeisha Mastagni
Investment Officer, Corporate Governance Unit, CalSTRS
Aeisha Mastagni is an Investment Officer III within the Corporate Governance Unit of the California State Teachers’ Retirement System (CalSTRS), the nation’s largest teacher retirement fund. Aeisha is responsible for working with a dedicated governance team to further CalSTRS’ mission to secure the financial future and sustain the trust of California’s educators.
Aeisha’s main areas of focus are the corporate engagement program, executive compensation, and selecting and monitoring managers in the activist manager portfolio. Aeisha is part of the team that actively engages public corporations to add-value and mitigate risk by striving to institute the best governance practices at companies within the CalSTRS portfolio. Aeisha is often asked to speak at conferences to communicate CalSTRS position as an institutional investor on a variety of topics, including executive compensation, audit and accounting issues, and engagement with portfolio companies. In addition, Aeisha communicates with regulatory authorities and lawmakers, including the Securities and Exchange Commission and the Public Company Accounting Oversight Board, on rule-making or legislation that may affect CalSTRS as an investor.
In 2012, Aeisha joined the Board of Directors at the Golden 1 Credit Union, the seventh largest credit union in the U.S. with more than $8 billion in assets and over 600,000 members. Most recently, Aeisha was named one of the
“40 Under 40, Freshest Talent at the World’s Largest Asset Owners” by aiCIO Magazine, for the second year in a row.
Before joining CalSTRS, Aeisha worked in the Corporate Governance Unit of the California Public Employees Retirement System (CalPERS) for six years overseeing the proxy voting program and the corporate governance manager portfolio. Prior to CalPERS, she worked in the Operations Department of Salomon Smith Barney before moving to Morgan Stanley as a Financial Advisor and Assistant Operations Manager. Aeisha has a Bachelor of Science degree in Economics from the California State University, Sacramento, and has successfully completed level I of the CFA Program.
Susan M. Phillips
Professor of Finance Emeritus and former Dean
The George Washington University School of Business
Susan M. Phillips joined The George Washington University School of Business as Dean and Professor of Finance in July 1998. On June 30, 2010, she stepped down as Dean of the School and from the faculty the following year. Previously, she was a member of the Board of Governors of the Federal Reserve System from December 1991 through June 1998. Before her Federal Reserve appointment, Dr. Phillips served at the University of Iowa as Vice President for Finance and University Services and Professor of Finance in The College of Business Administration (1987 to 1991) and as Commissioner (1981 to 1983) and then Chairman (1983 to 1987) of the Commodity Futures Trading Commission.
Dr. Phillips’ areas of specialization include monetary policy, corporate governance, regulation and supervision of financial institutions, derivatives, financial management and economic theory of regulation. She is a member of the State Farm Mutual Automobile Insurance Company’s Board of Directors and of the Editorial Integrity Committee for the Wall Street Journal. She also serves on the boards of directors of the Kroger Company, the Chicago Board Options Exchange, and the National Futures Association as well as the board of trustees of Agnes Scott College. As a member of AACSB International’s Board of Directors, she chaired the AACSB Ethics Education Task Force from 2003 to 2004. She currently serves on the CFTC-SEC Joint Advisory Committee on Emerging Market Issues and on advisory committees to the Comptroller General and the PCAOB.
Dr. Phillips earned a B.A. in mathematics from Agnes Scott College in 1967, a M.S. in finance and insurance from Louisiana State University (LSU) in 1971, and a Ph.D. in finance and economics from LSU in 1973.
Dr. Phillips was an Assistant Professor at LSU from 1973 to 1974. She joined the University of Iowa in 1974 as an Assistant Professor of Business Administration. From 1976 to 1977, she was a Brookings Economic Policy Fellow, and spent the following year as a SEC Economic Fellow with the Securities and Exchange Commission. Dr. Phillips returned to the University of Iowa in 1978 as an Associate Professor. She was appointed Acting Assistant Vice President for Finance and University Services in 1979, and served in that post until her selection as Associate Vice President for Finance and University Services in 1980.
She has won several awards for her research, including the Chicago Board Options Exchange Pomerance Prize for outstanding research in options in 1980, and has authored dozens of scholarly publications, including The SEC and the Public Interest, a book co-written with J. Richard Zecher. She contributes regularly to The International Economy. Other honors and awards include Phi Beta Kappa, Agnes Scott College; Beta Gamma Sigma, Louisiana State University; Outstanding Alumna Award, Agnes Scott College; Hall of Distinction, LSU Alumni Association and, separately, the LSU College of Business Administration; and Futures Hall of Fame, Futures Industry Association.
Troy Paredes
Senior Strategy & Policy Advisor, PwC
Troy A. Paredes is Senior Strategy & Policy Advisor at PwC. Paredes advises boards of directors and senior executives with regard to business strategy, risk management, financial regulation, and corporate governance.
From August 2008 until August 2013, Paredes was a Commissioner at the U.S. Securities and Exchange Commission. Paredes served throughout the financial crisis and as the SEC implemented the Dodd-Frank Act.
Before becoming an SEC Commissioner, Paredes was a professor of law at Washington University in St. Louis and a professor of business (by courtesy) at Washington University’s Olin Business School. Earlier in his career, Paredes was a corporate lawyer.
Paredes is the author of numerous academic articles on financial regulation, corporate governance, innovation, and behavioral economics. He also is a co-author (beginning with the 4th edition) of a multi-volume securities regulation treatise entitled Securities Regulation.
Paredes holds a bachelor’s degree in economics from UC Berkeley and earned his JD from Yale Law School.
Harvey Pitt
Founder, Chief Executive Officer and a Managing Director, Kalorama Partners and Kalorama Legal Services
Harvey L. Pitt is the CEO of the global business consulting firm, Kalorama Partners, LLC, and its law firm affiliate, Kalorama Legal Services, PLLC. Prior to founding the two Kalorama firms, Mr. Pitt served as the twenty-sixth Chairman of the United States Securities and Exchange Commission, from 2001 to 2003.
Prior to becoming the SEC’s Chairman, Mr. Pitt was a senior corporate partner at the international law firm of Fried, Frank, Harris, Shriver & Jacobson. Former Chairman Pitt also served previously with the SEC, from 1968 until 1978, including three years as General Counsel (1975-78). Former Chairman Pitt received a J.D. degree from St. John’s University School of Law (1968), and his B.A. from the City University of New York (Brooklyn College) (1965). He was awarded an honorary LL.D. by St. John’s University (2002), and was given the Brooklyn College President’s Medal of Distinction (2003).
Mr. Pitt is currently a Director and Audit Committee member of GWU Medical Faculty Associates, Inc., a §501(c)(3) corporation. He is a member of the Global Advisory Forum of the CQS Hedge Fund, and a member of the Regulatory and Compliance Advisory Council of Millennium Management LLC. He also serves on the Board of Directors to the offshore funds of Paulson & Co. and its affiliates. He is a member of the Board of Directors of Premier Alliance Group, Inc., and a member of its Audit Committee. He also serves as the Chairman of the Audit Committee of the U.S. Dream Academy, Inc., a §501(c)(3) nonprofit organization.
Jason Polun
Director of US Equity Research, T. Rowe Price Associates
Jason Polun is a vice president of T. Rowe Price Associates, Inc., and a director in the U.S. Equity Division of T. Rowe Price Associates, Inc. He follows money center banks and specialty finance companies. Jason is a vice president and Investment Advisory Committee member of the Equity Income and Financial Services Funds. Prior to joining the firm in 2007, he was employed by Wellington Management Company, LLP, as a vice president and an equity research analyst, where his coverage included aerospace and defense, energy, packaged food, restaurant, and chemical companies.
Jason earned a B.S. in business and finance from Mount St. Mary’s College and an M.B.A. in finance and accounting from the Wharton School, University of Pennsylvania, where he was a Palmer Scholar. Prior to earning his M.B.A., Jason was a vice president and a credit analyst with Merrill Lynch Investment Managers as well as a fixed-income associate analyst and research associate at T. Rowe Price Associates, Inc. He has also earned the Chartered Financial Analyst designation.
Neila Radin
Senior Vice President and Associate General Counsel
JPMorgan Chase
Neila B. Radin is a Senior Vice President and Associate General Counsel of JPMorgan Chase & Co. with legal responsibility for corporate law, mergers and acquisitions, private equity, corporate securities issuances and funding, and disclosure issues affecting the Corporation. She is a graduate of New York University, B.A. (magna cum laude) and the Harvard Law School, J.D. She previously served as Chair of the Securities Law Committee and President of the New York Chapter of the Society of Corporate Secretaries & Governance Professionals.
Amar D. Sarwal
Vice President and Chief Legal Strategist
Association of Corporate Counsel
Amar D. Sarwal is the Vice President and Chief Legal Strategist of the Association of Corporate Counsel (ACC) in Washington, D.C. ACC is the largest bar association that serves in-house lawyers in the world, with more than 30,000 members working in more than 10,000 companies in 75 countries.
In this position, Amar leads efforts to engage Chief Legal Officers and other legal executives, to challenge both law firms and in-house counsel to deliver real value for their clients, and to shape the legal environment so that it advances the professional interests and unique perspectives of the in house bar. To accomplish those objectives, he works with ACC’s leadership and members, government regulators and other organizations.
Amar joined ACC in 2010 as Associate General Counsel, directing key advocacy efforts and issues of importance to in-house counsel and the bar at large such as multijurisdictional matters, corporate responsibility, attorney-client privilege, ethics and other issues that affect the ability of in-house counsel to provide effective guidance to their corporate clients.
Prior to joining ACC, he served as General Litigation Counsel at the United States Chamber of Commerce, where he managed the Chamber’s extensive amicus curiae and party litigation docket before the U.S. Supreme Court and other federal and state courts. Prior to the U.S. Chamber, Amar was an associate in the Washington, D.C. office of Jones Day, practicing in the Issues and Appeals Section. Earlier in his career, Amar served as a judicial clerk to U.S. District Court Judge Little of the Western District of Louisiana and U.S. Court of Appeals Judge Krupansky of the Sixth Circuit of Ohio.
Amar received a Bachelor of Business Administration from the University of Texas at Austin, with a focus on International Business. He also graduated cum laude from the University of Michigan Law School. Amar is admitted to practice in the District of Columbia, and before the U.S. Supreme Court and various federal courts. He is also a member of the board of directors for KEEN Greater DC, a volunteer-driven nonprofit organization that works with children with disabilities.