Hal S. Scott
Hal S. Scott is the Emeritus Nomura Professor of International Financial Systems at Harvard Law School (HLS), where he taught from 1975-2018. His HLS courses were on Capital Markets Regulation, International Finance, the Payment System and Securities Regulation. He is currently an adjunct Professor of Public Policy at the Harvard Kennedy School of Government where he teaches Capital Market Regulation and a guest lecturer at Tsinghua University.
He has a B.A. from Princeton University (Woodrow Wilson School, 1965), an M.A. from Stanford University in Political Science (1967), and a J.D. from the University of Chicago Law School (1972). In 1974-1975, before joining Harvard, he clerked for Justice Byron White.
He is the Director of the Program on International Financial Systems (PIFS), founded in 1986, as part of Harvard Law School, which became independent in 2018. Besides doing research, the Program organizes the annual invitation-only U.S.-China, U.S.-Europe, and U.S.-Japan Symposia on Building the Financial System of the 21st Century, and special event roundtables. HLS is the non-financial sponsor or these events. In addition, PIFS partners with Executive Education at HLS in offering executive education for financial regulators.
Professor Scott’s books include the law school textbook International Finance: Transactions, Policy and Regulation (23rd ed. Foundation Press 2020); Connectedness and Contagion (M.I.T. Press 2016) and The Global Financial Crisis (Foundation Press 2009). He is the author of numerous journal articles and oped pieces in leading newspapers.
Professor Scott is also the President and Director of the Committee on Capital Markets Regulation, a bi-partisan non-profit organization organized in 2006, dedicated to enhancing the competitiveness of U.S. capital markets and ensuring the stability of the U.S. financial system via research and advocacy.
He is also an independent director of MEMX, the Members Exchange and a member of the Market Monitoring Group of the Institute of International Finance. He is a past independent director of Lazard, Ltd. (2006-2016), a past President of the International Academy of Consumer and Commercial Law and a past Governor of the American Stock Exchange (2002-2005).
Stefan M. Gavell
Stefan Gavell was previously Executive Vice President and Global Head of Regulatory, Industry and Government Affairs for State Street Corporation with responsibility for global regulatory, industry and government relations. In this position, he was responsible for representing State Street with regulators, legislators and other policymakers worldwide.
Mr. Gavell has supported and been actively involved in the Program on International Financial Systems as a speaker and moderator for more than 10 years.
Representing State Street, and in conjunction with leading industry associations, Mr. Gavell successfully advocated on legislative and regulatory issues, in the US, Europe, and Asia, on banking, securities and asset management matters.
Mr. Gavell has deep experience in financial markets, market regulation and governance as a result of his close to 40 year career and held numerous positions at State Street, including as Treasurer, acting CFO, and Head of International Global Markets, and held expatriate assignments in Hong Kong, Japan, the UK and France. He previously held positions as President of State Street International Holdings, and on the Board of State Street Global Markets, LLC. He served on served on numerous governance committees including management, financial policy, asset and liability, compliance and conduct, and numerous bank, investment management, and securities subsidiary boards.
He joined State Street in 1990 as General Manager in Japan.
Mr. Gavell is a member of numerous professional bodies, including long tenure as President of the American Bankers Association Securities Association. He currently serves on the board of the Global Financial Markets Association, and is a frequent speaker on banking and financial markets topics at conferences and seminars.
Stefan received his B.A. in Economics and Government from Oberlin College and his M.B.A. from Columbia University.
John Gulliver is the Executive Director of the Program on International Financial Systems. John oversees all of PIFS’ activities, including research, events and training programs for financial regulators. PIFS’ research focuses on policy issues impacting the global financial system, such as equity market structure, liquidity in U.S. Treasury markets, stress testing large banking institutions and the rise of cloud computing. John drafts PIFS’ reports and formulates policy recommendations with the PIFS’ President, Hal Scott. PIFS’ events include international symposia, US-Japan (24 years), US-China (19 years), US-Europe (19 years). In addition to hosting the symposia, John works with PIFS’ partners and sponsors to determine the topics, speakers and participants at each private off-the-record event. PIFS also delivers several training programs for financial regulators, including two programs in partnership with the International Organization of Securities Commissions and a program for financial regulators in China. John collaborates with academics, government officials and private-sector experts to determine the policy issues of focus for each program and designs the curriculum. Harvard Law School is a non-financial sponsor of PIFS symposia and PIFS partners with Harvard Law School Executive Education for programs delivered on campus.
Jacqueline McCabe is also the Deputy Director of the Committee on Capital Markets Regulation. She serves at the Committee and PIFS in a part-time capacity offering legal advice on management issues. Prior to her current role, Jackie served as Executive Director of CCMR from 2011 – 2012. Before joining the Committee, she served for seven years as a Vice President and Assistant and Associate General Counsel at Goldman Sachs & Co. At Goldman Sachs, Jackie worked within the investment management division (“GSAM”) where she was responsible for GSAM’s private investment funds and managed accounts with institutional clients. Prior to that, she was an associate at Skadden, Arps, Slate, Meagher and Flom in their Investment Management Group. Jackie graduated from Harvard Law School and from Princeton University with an A.B. in History.
Whitney Vasey is Director of events for the Program on International Financial Systems. Whitney manages the day-to-day management of PIFS annual international symposia, in addition to other specialized events. Previously, she held positions at the U.S. Chamber of Commerce and the U.S. Consumer Product Safety Commission in Washington, DC. Whitney holds degrees in international business and Spanish from Georgia College and State University. She lives in Boston and is married with three children.
Hillel Nadler joined the Program in October 2018 as a Senior Research Fellow. Prior to joining the Program, he practiced law at Ropes & Gray in Boston in the firm’s tax group, primarily advising private equity funds, hedge funds and mutual funds on U.S. and international tax matters related to their structuring, operation, investment activities and transactions. Before joining Ropes & Gray, Hillel served as a law clerk for Judge Frank H. Easterbrook of the U.S. Court of Appeals for the Seventh Circuit. Hillel received an A.B. in Philosophy from Harvard College, where he graduated magna cum laude and was elected to Phi Beta Kappa. He received a J.D. with high honors from the University of Chicago Law School, where he was a Rubenstein Scholar, a Kirkland & Ellis Scholar and an Articles Editor on the University of Chicago Law Review, and was inducted into the Order of the Coif.
Cristina Leone is a Certified Public Accountant and the CFO and Treasurer for PIFS. Cristina is responsible for all aspects of the organization’s financial functions, including accounting and treasury. Prior to joining PIFS, Cristina practiced auditing in the non-profit sector at Edelstein & Company LLP, one of Inside Public Accounting’s Best of the Best Firms. Cristina graduated magna cum laude and received a Bachelor of Science Degree from Merrimack College in Business Administration and Accounting.
Megan Vasios is Deputy Director for the Program, a position she also holds with the Committee on Capital Markets Regulation (CCMR). She joined the team in January 2020 from Prudential Financial, where she was Director, Corporate Counsel in PGIM Global Partners & Institutional Relations Law. Megan has also held positions as CCMR’s Deputy Director of Research and as a corporate associate at Simpson Thacher & Bartlett LLP, where she advised on mergers & acquisitions, securities offerings, and credit transactions. She received a BA from Yale College, graduating cum laude and with distinction in the Psychology major, and a JD from Harvard Law School, where she was a Supervising Editor of the Harvard Journal on Legislation.
Janine Strate is the Chief Administrative Officer for the Program on International Financial Systems, a position she also holds with the Committee on Capital Markets Regulation. She joined the team in June 2020. Janine formerly held executive administrative positions at State Street Corporation, Bain Capital and Fidelity Investments. She is a cum laude graduate of Salem State College where she earned her Bachelor of Science degree in Psychology.