Douglas J. Elliott            

Mr. Elliott is the founder of the Center on Federal Financial Institutions. He ran COFFI as a full-time volunteer from its inception in 2004 until May of 2006, when he rejoined J.P. Morgan Securities as a Managing Director in its Capital Structure Advisory and Solutions group. In this capacity, he develops sophisticated financial products to assist insurers and pension funds in managing their risk and capital positions. Mr. Elliott remains COFFI's President and Chairman of the Board and continues to write analyses.

 

Mr. Elliott is particularly known as an expert on the Pension Benefit Guaranty Corporation, having created the first independent financial model of the PBGC's annual cash flows and published the first detailed Primer on PBGC. He has testified before Congress on both PBGC and on the National Flood Insurance Program. He has also authored detailed analyses of the federal student loan program, Terrorism Risk Insurance, and federal budget procedures for credit and insurance programs. He was a featured speaker at a Federal Reserve conference on Federal Lending and Insurance Activity, in October 2005. He was also a member of the National Academy of Social Insurance's panel: "Uncharted Waters: Paying for Benefits From Individual Accounts in Federal Retirement Policy." The panel's findings were published as a book in 2005.

 

His analyses have been featured in The New York Times, Wall Street Journal, Washington Post, Financial Times, The Economist, U.S. News & World Report, Business Week, and numerous other publications. ABC World News Tonight, The Newshour with Jim Lehrer, and The Nightly Business Report on PBS, have all featured extensive interviews with him, as have many other TV and radio shows.

 

Mr. Elliott has worked as an investment banker for almost twenty years, starting with a dozen years at J.P. Morgan and continuing with Sanford Bernstein, Sandler O'Neill & Partners, and ABN AMRO. After an initial stint developing software to signal when Morgan should buy or sell the dollar against foreign currencies, he has devoted the rest of his career to working with insurers, banks, and pension funds.

 

Mr. Elliott has advised on transactions with a value of over $20 billion, including: a novel restructuring that resulted in an immediate increase of $2 billion in CIGNA's market value; the purchase of Michigan National Bank for $3 billion; the sale of European American Bank for $2 billion; the largest three-way merger of mutual insurance companies in history; the purchase of Travelers Insurance for $4 billion; and the purchase of Allegheny Asset Management for $1 billion. He advised other household names, such as Prudential, Allstate, Xerox, Dow Chemical, Zurich Insurance, ITT, St. Paul, Farmers Group, and Ralston Purina, among others. In the public sector, he advised PBGC and the Commonwealth of Massachusetts .

 

Mr. Elliott graduated from Harvard College with an A.B. in Sociology, magna cum laude, and with a Master's in Computer Science from Duke University .