Over the past eighteen months Korea has been buffeted by a financial crisis spreading out from the U.S. and Europe, a commodity boom and bust, followed by a global trade implosion. The era of "Great Moderation" gave way to unprecedented volatility. How is Korea coping and what lies ahead?

Friday, February 20, 2009

About the Speakers

Jeffrey R. Shafer is the vice chairman of Citi’s Global Banking and senior Asia Pacific officer inNew York, where he is responsible for key Asia Pacific government and corporate client relationships. Shafer was previously the head of Economic and Political Strategies.

Since joining the firm in February 1997, Shafer has worked with governments in Asia, Latin America and Europe on financial stabilization, liability management, debt issuance and privatization. In February 1999, he took on the role of head of privatization for the firm, and in 2003, became vice chairman of the Public Sector Group. While directing Citigroup’s privatization effort, he has personally worked closely with governments around the world, including France, Japan, Korea, India, and China.

From 1993 to 1997, Shafer was assistant secretary and subsequently under secretary of the U.S.Treasury for International Affairs. At the Treasury Department, he was responsible for international economic and financial issues, focusing on strengthening economic growth and financial stability in both developed and developing countries, fostering financial market development and liberalization, and strengthening the IMF and multilateral development banks.

From 1984 until 1993, Shafer held a series of high-level positions at the Organization for Economic Cooperation and Development (OECD). Prior to the OECD, he served with the Federal Reserve Bank of New York, the Federal Reserve Board and the Council of Economic Advisors.

Shafer holds a B.A. in economics from Princeton University and M.Phil. and Ph.D. degrees in economics from Yale University. He is a member of the Council on Foreign Relations.


Nick Bratt is a managing director of Lazard Asset Management LLC and a portfolio manager on their Global Thematic Equity Team.

Prior to joining the firm in 2003, Bratt served in various capacities at Scudder/Deutsche Asset Management, including head of International Portfolio Management, head of the Global Equity Group, and global chief investment officer. His most recent role had been as director of Global Products at Deutsche Asset Management.

Bratt was responsible for the creation of the Korea Fund which was listed on the New York Stock Exchange in 1984 as the first fund designed to enable foreign investors to invest in Korea. He was the president of the fund from its inception until 2003, when he joined Lazard Asset Management.

Bratt began working in the investment field in 1973. He holds a Master of international affairs from Columbia University (Fulbright scholarship), and a B.A. in politics, philosophy and economics from St. John’s College of Oxford University. Bratt is a board member of The Korea Society.