Suresh Sundaresan

Suresh M. Sundaresan is the Chase Manhattan Bank Professor of Economics and Finance at Columbia University. He is the faculty director for the India Business Initiative at Columbia Business School, and the Faculty coordinator for the PhD program in Finance.

Policy Experience

  • Served on the Treasury Bond Markets Advisory Committee (TBAC) in the United States, which meets with the Board of Governors of the Federal Reserve and the U.S. Treasury twice a year.
     
  • Served on the Financial Markets Round Table at the Federal Reserve Bank of New York. o Served as a Resident Scholar at the Federal Reserve Bank of New York and worked on Open Market Repo Auctions and the Design of Contingent Capital for Banks. o Served as a visiting scholar at the International Monetary Fund.
     
  • He has testified to the U.S. Congress on transparency issues relating to corporate bond markets.
     
  • Was the Wim Duisenberg Research Fellow at the European Central Bank in Frankfurt during the first half of the year 2015.
     
  • Served as Technical Advisor to the Bank for International Settlements (BIS) in Basel during the second half of 2015.
     
  • Currently serves on the Model Validation Council for Bank Stress Testing at the Federal Reserve Board of Governors.

Industry Experience

  • He served as the Head of Research at Capula Investment Management during 2009 in London. He has served as a consultant to Capula Investment Management, LLP since 2009 until 2014. Currently a director in a Capula entity.
     
  • Has worked full time with Lehman Brothers and Morgan Stanley in Fixed Income Research and Investment Management, respectively.
     
  • He has served as an Expert witness in Enron bankruptcy trial. o Has testified on rate hearing to the California Public Utilities Commission on the effects of using swaps on pricing utility services. o He has provided expert testimony on corporate defaults, CDS settlements, Derivatives book risk management, and securities lending.

Selected Publications

  • "A Review of Merton's Model of the Firm's Capital Structure with its Wide Applications," (2013), in the Annual Review of Financial Economics, volume 5
     
  • "Liability Investment with Downside Risk," with Andrew Ang and Bingxu Chen, (Fall 2013), in the Journal of Portfolio Management, Volume 40, 1
     
  • "On the Design of Contingent Capital with a Market Trigger," with Zhenyu Wang, (2015), the Journal of Finance
     
  • "Managing Corporate Liquidity: Strategies and Pricing Implications," with A. Asvanunt and M. Broadie, (2011), in the International Journal of Theoretical and Applied Finance, 14(3)
     
  • “Development of financial markets in Asia and the Pacific: the international financial crisis and policy challenges,” BIS Papers, No 52, The international financial crisis and policy challenges in Asia and the Pacific, Proceedings of the wrap-up conference of the Asian Research Program, Shanghai, 6–8 August 2009. Monetary and Economic Department, July 2010.
     
  • “Collateral Values By Asset Class: Evidence from Primary Securities Dealers”, with Leonardo Bartolini, Spence Hilton, and Christopher Tonetti, (2011), in the Review of Financial Studies, 24(1), 248-278
     
  • “Y2K Options and the Liquidity Premium in Treasury Markets,” with Zhenyu Wang, (2009) in the Review of Financial Studies, 22(3), 1021-1056
     
  • “The Impact of Collateralization on Swap Rates,” with Michael Johannes, in the Journal of Finance, VOL. LXII, NO. 1 February 2007.
     
  • “Optimal Debt and Equity Values in the Presence of Chapter 7 and Chapter 11,” with Mark Broadie and Mikhail Chernov, in the Journal of Finance, VOL. LXII, NO. 3 June 2007.
     
  • “Investment under Uncertainty with Strategic Debt Service,” with Neng Wang, in the American Economic Review, Volume 97, No 2, (May 2007), pages 256-261.
     
  • “Bidder Behavior in Multi-Unit Auctions - Evidence from Swedish Treasury Auctions,” with Kjell Nyborg and Kristian Rydqvist, Journal of Political Economy, Vol. 110, April 2002
     
  • "Discriminatory versus uniform Treasury auctions: Evidence from when- issued transactions," with Kjell Nyborg, Journal of Financial Economics, Elsevier, vol. 42(1), pages 63-104, September 1996. ​​​​​​​