Financial Institutions

The Brattle Group provides expert testimony, analysis, and financial economic consulting in litigation and regulatory matters affecting financial institutions.

Our economic experts, including renowned academics and industry specialists, possess deep expertise in finance and economic theory, regulatory and industry custom and practice, and accounting. Our experts include former senior staff of large financial institutions, as well as former regulators and senior government officials, allowing us to provide our clients with detailed, real-world knowledge of how various financial institutions actually operate.

Our experts have experience supporting clients on both the commercial and regulatory sides of issues. We have addressed contractual disputes, regulatory compliance, risk management processes, asset valuation, industry custom and practice, and standard of care. Our experience spans a range of engagements involving commercial lending, mortgage securitization, securities trading and risk management, custody of securities, hedge fund administration, securities fraud, tax disputes, credit crisis litigation, broker/client investment suitability and foreseeability, bankruptcy and ability to pay, and competition.

Areas of Expertise

Principals
Belanger 053
Principal
+1.617.864.7900
Mr. Belanger provides consulting and litigation support to the financial services industry including both standard of care and industry custom and practice. More icon f02782c24cccaf6d90e1da53920c42f20e5a8955f54ac2ca5727ec7dc89987b4
Borucki 113
Principal
+1.617.864.7900
Ms. Borucki is a financial economist with experience providing advice and developing expert testimony on the application of corporate finance and economics in both litigation and strategic engagements. More icon f02782c24cccaf6d90e1da53920c42f20e5a8955f54ac2ca5727ec7dc89987b4
Buckberg search v2
Principal
+1.202.955.5050
Dr. Buckberg provides consulting services and testimony in litigation and regulatory disputes in finance, complex commercial litigation, and bankruptcy and advises parties in public-private partnerships for infrastructure investment. More icon f02782c24cccaf6d90e1da53920c42f20e5a8955f54ac2ca5727ec7dc89987b4
Chodorow 075
Principal
Darrell Chodorow has more than 15 years of consulting experience in commercial damages, valuation, and tax matters. More icon f02782c24cccaf6d90e1da53920c42f20e5a8955f54ac2ca5727ec7dc89987b4
Cohen photo search
Principal
+1.617.864.7900
Mr. Cohen specializes in financial modeling and valuation, with a focus on complex business litigation. More icon f02782c24cccaf6d90e1da53920c42f20e5a8955f54ac2ca5727ec7dc89987b4
Cragg13
Principal & Chairman
(Boston) +1.617.234.5721
(Toronto) +1.416.360.4849
Dr. Cragg has extensive consulting, research, and expert witness experience in corporate finance, financial services, and valuation. More icon f02782c24cccaf6d90e1da53920c42f20e5a8955f54ac2ca5727ec7dc89987b4
Loannisgkatzimas
Principal
+1.415.217.1057
+1.415.416.8629
Mr. Gkatzimas' primary focus is on the valuation of complex securities and portfolios for both commercial litigation and regulatory matters. More icon f02782c24cccaf6d90e1da53920c42f20e5a8955f54ac2ca5727ec7dc89987b4
Laursen cropped for web search new
Principal
+1.202.955.5050
Mr. Laursen is an expert in financial products and institutions, markets, regulation, and risk management. More icon f02782c24cccaf6d90e1da53920c42f20e5a8955f54ac2ca5727ec7dc89987b4
Myers 036
Principal
+1.617.864.7900
Professor Myers is one of the world’s leading authorities on the theory and practice of finance. More icon f02782c24cccaf6d90e1da53920c42f20e5a8955f54ac2ca5727ec7dc89987b4
Oldfield 098 1
Principal
+1.202.955.5050
Dr. Oldfield is an expert in financial economics, including mortgage securitization, trading strategies, market making, corporate bond valuation, financial derivatives, and risk management. More icon f02782c24cccaf6d90e1da53920c42f20e5a8955f54ac2ca5727ec7dc89987b4
Sarro 061
Principal
+1.617.864.7900
Dr. Sarro is principal and director of The Brattle Group, and a leader of its practice in cases involving “big data” and document analytics. He is a financial and empirical economist who is the lead consulting expert to investigative and trial teams in complex investigations and high-stakes litigation. More icon f02782c24cccaf6d90e1da53920c42f20e5a8955f54ac2ca5727ec7dc89987b4
Voetmann 055
Principal
+1.415.217.1007
+1.415.235.5709
Dr. Voetmann focuses on cases that involve complex economic and financial issues. He has worked with clients and experts on securities cases and valuation disputes related to capital markets and financial institutions. More icon f02782c24cccaf6d90e1da53920c42f20e5a8955f54ac2ca5727ec7dc89987b4
Zhou 082
Principal
+1.617.864.7900
Dr. Zhou is a valuation, corporate finance, and accounting expert with more than 15 years of consulting experience. More icon f02782c24cccaf6d90e1da53920c42f20e5a8955f54ac2ca5727ec7dc89987b4
Academic Advisors
Academic Advisor
Dr. Brealey is an Emeritus Professor at the London Business School and a Fellow of the British Academy. More icon f02782c24cccaf6d90e1da53920c42f20e5a8955f54ac2ca5727ec7dc89987b4
Academic Advisor
James Dow is Professor of Finance and Research Dean at the London Business School. His research interests focus on corporate finance. More icon f02782c24cccaf6d90e1da53920c42f20e5a8955f54ac2ca5727ec7dc89987b4
Academic Advisor
Alex Edmans is a Professor of Finance at London Business School. He is an expert in corporate finance, corporate social responsibility, behavioural finance, and practical investment strategies. More icon f02782c24cccaf6d90e1da53920c42f20e5a8955f54ac2ca5727ec7dc89987b4
Academic Advisor
Mr. Holderness is a Professor of Finance at the Wallace E. Carroll School of Management at Boston College and Visiting Professor of Finance at the Sloan School of Management at MIT. More icon f02782c24cccaf6d90e1da53920c42f20e5a8955f54ac2ca5727ec7dc89987b4
Academic Advisor
Dr. Lessard is the Epoch Foundation Professor of International Management at the Sloan School of Management at MIT. More icon f02782c24cccaf6d90e1da53920c42f20e5a8955f54ac2ca5727ec7dc89987b4
Academic Advisor
Dr. Lie is an Associate Professor of Finance and Henry B. Tippie Research Fellow at University of Iowa, where he teaches investment banking and corporate finance. More icon f02782c24cccaf6d90e1da53920c42f20e5a8955f54ac2ca5727ec7dc89987b4
Academic Advisor
Dennis Logue is chair of the board of directors at Ledyard National Bank in Hanover, New Hampshire and a professor emeritus at Dartmouth College. More icon f02782c24cccaf6d90e1da53920c42f20e5a8955f54ac2ca5727ec7dc89987b4
Academic Advisor
Dr. Sundaresan is the Chase Manhattan Bank Professor of Economics and Finance at Columbia University. More icon f02782c24cccaf6d90e1da53920c42f20e5a8955f54ac2ca5727ec7dc89987b4
Academic Advisor
Dr. Weisbach is the Ralph W. Kurtz Chair in Finance at the Fisher School of Business at The Ohio State University and a research associate at the National Bureau of Economic Research. More icon f02782c24cccaf6d90e1da53920c42f20e5a8955f54ac2ca5727ec7dc89987b4
Williams bio search
Academic Advisor
Professor Williams, a risk management expert, teaches finance and economics at Boston University. More icon f02782c24cccaf6d90e1da53920c42f20e5a8955f54ac2ca5727ec7dc89987b4
Senior Consultants
Branko bio 2
Senior Consultant
Branko Jovanovic specializes in providing economic analysis and expert testimony in the areas of securities and finance, and consumer protection across a wide range of industries. More icon f02782c24cccaf6d90e1da53920c42f20e5a8955f54ac2ca5727ec7dc89987b4
Senior Associates
Barza
Senior Associate
+44.20.7406.7900
Dr. Rachael Barza has worked on cases concerning valuation and damages, state aid, abuse of dominance, cartels, and acquisitions, before the European Competition Commission and various European high courts. More icon f02782c24cccaf6d90e1da53920c42f20e5a8955f54ac2ca5727ec7dc89987b4
Web photo december 2015 new5
Senior Associate
+1.202.955.5050
Mr. Dave focuses on cases that involve complex economic and financial issues. He has worked with clients and experts extensively on securities and valuation matters related to capital markets and financial institutions. More icon f02782c24cccaf6d90e1da53920c42f20e5a8955f54ac2ca5727ec7dc89987b4
Defonseka 041
Senior Associate
+1.617.864.7900
Jehan deFonseka specializes in leading teams in complex business litigation. More icon f02782c24cccaf6d90e1da53920c42f20e5a8955f54ac2ca5727ec7dc89987b4
Nunez web
Senior Associate
+1.202.955.5050
Dr. Nunez has corporate and consulting experience in finance, valuation, and trading. More icon f02782c24cccaf6d90e1da53920c42f20e5a8955f54ac2ca5727ec7dc89987b4
Report
October 2016
Funded by MetLife, Inc.

A whitepaper discussing the role of life insurance as a critical driver of economic growth that helps provide stability for the U.S. economy while delivering financial protection to millions of American families.

Article
The Impact of International Information Disclosure Requirements on Market Discipline
August 24, 2016
Pedro de Araujo and Kirby I. Leyshon
Published in Applied Economics

The study investigates which specific disclosure requirements influence financial investors to discipline banks and which do not. The authors find that the information disclosure requirements primarily reduce or have no impact on market discipline practices.

Report
The Role of Institutional Investors in Open-Market Share Repurchase Programs
December 29, 2014
Yingzhen Li and Thomas Chemmanur
Published in Social Science Research Network (SSRN)
Article
High-Frequency Trading Litigation Presents Complex Issues for Experts
June 2014
Zachary Ziliak, Pavitra Kumar, and Torben Voetmann
Published by The Brattle Group, Inc. Published on Law360
Article
BSA and AML Enforcement Trends and D&O Liability
April 4, 2014
Published in the D&O Diary
Article
Rural Metro: Another Shackelton Expedition Falls Short of the Podium
March 2014
Published by The Brattle Group, Inc.
Article
Skill Differences in Corporate Acquisitions
December 2013
Jeffrey Jaffe, David Pedersen, and Torben Voetmann
Published in Journal of Corporate Finance, Volume 23
Book
Principles of Corporate Finance
January 2013
Richard A. Brealey, Stewart C. Myers, and Franklin Allen
Published by McGraw-Hill, 11th edition, with translations into many languages, including Czech, French, Hungarian, Indonesian, Italian, Japanese, Portuguese, Russian and Spanish.
Presentation
Control Premiums / Minority Discounts Recent Cases and Economic Evidence
October 18, 2012
Presented for The Knowledge Congress Webcast Series
Report
Economic Considerations in Litigation Against the Credit Rating Agencies
April 2012
Published by The Brattle Group, Inc.
Presentation
The Proposed Volcker Rule Analysis and Panel Discussion
February 14, 2012
Presented at the PRMIA Meeting, New York, NY
Newsletter
The European Debt Crisis and the Role of the European Central Bank
2012
Published by The Brattle Group, Inc.