Dr. Richard Herring is Jacob Safra Professor of International Banking and Professor of Finance at The Wharton School, University of Pennsylvania where he is also Director of The Lauder Institute of Management and International Studies and Co-Director of The Wharton Financial Institutions Center. From 1995 to 2000, he served as Vice Dean and Director of Wharton’s Undergraduate Division. Outside the University he serves as Co-Chair of the US Shadow Financial Regulatory Committee and the Multinational Banking Seminar. He was a member of the Group Thirty Study Group on the Reinsurance Industry. He is currently the 2006 Professorial Fellow in Banking and Monetary Studies sponsored by the Reserve Bank of New Zealand and Victoria University of Wellington. At various times he has served as a consultant to the IMF and World Bank, as well as the various US regulatory agencies. He is the author of more than 90 articles, monographs and books on various topics in financial regulation and international finance.