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Strategies & Market Trends : India Coffee House -- Ignore unavailable to you. Want to Upgrade?

To: ratan lal who wrote (4140)	4/27/1999 9:36:00 AM
From: Mohan Marette	Read Replies (1) \| Respond to of 12475

More about Sushil Wadhwani----> Ratan: I know I have run in to a few myself here and there.Looks like this guy is only a 'kid' especially considering the age of the'normal' crowd at these sort of monetary policy making committees of any country.I am sure a lot of the 'stiff upper-lips' in England won't like his appointment, too bad I say.<g> Here is a bit more about Wadhwani's background. =============================== Mr Wadhwani, 39, director of research at the Tudor Proprietary Trading hedge fund in London, has worked as director of equity strategy at Goldman Sachs investment bank. After gaining first-class honours from the London School of Economics in 1980, he stayed on until 1991 as a post-graduate and lecturer.He attended the LSE as an undergraduate and post-graduate, finishing his PhD in 1985. Mr Wadhwani's primary area of research was in employment, followed by work on financial markets, including joint papers with Mervyn King, the former LSE professor who is now deputy-governor of the Bank of England. ................. Yesterday's announcement that Sushil Wadhwani is to join the Bank of England's monetary policy committee did not come as a surprise to those who have worked with the 39-year-old hedge fund director. Colleagues of Mr Wadhwani - a director of research at Tudor Proprietary Trading and partner of the Tudor Group, the UK arm of the US hedge fund - all paid tribute to his intelligence, temperament and ability as an economist. "I think this is a very good appointment, although it will probably surprise people who don't know him," said Charlie Bean, professor of macroeconomics of the London School of Economics, where Mr Wadhwani lectured in economics until 1991. "He is an extremely bright individual, and experienced on a wide range of issues, not just monetary policy. He will add to the range of experience available to the committee," Prof Bean said. Academic colleagues say he is "very much a technician" in the mould of Mr King and John Vickers, the Bank's chief economist, with a strong theoretical and mathematical background. "He's very straight, very modest. He takes you very seriously even if you say something very stupid," said an academic economist who worked with Mr Wadhwani. Others said Mr Wadhwani would be attracted by the challenge of making policy, after rising to the top of his previous careers in academia and finance. While not regarded as politically active, one former colleague said his politics were "New Labour-ish". After leaving the LSE in 1991, Mr Wadhwani joined Goldman Sachs investment bank as director of equity strategy, where he was ranked as a top equity strategist in a survey by Institutional Investor magazine. In 1995 he joined the Tudor Group, part of the hedge fund set up by Paul Tudor Jones, during which time he also sat on an academic panel for the Treasury. Married, with a one-year-old child, Mr Wadhwani said he was delighted to be offered the position on the monetary policy committee. "The MPC is such a unique job if you are an academic or a markets economist, you'd love to do it because its so important and so difficult," he said.