Media Releases
Published Date: 05 September 2013

Professor Douglas W. Diamond appointed as MAS Term Professor at NUS Business School

Monetary Authority of Singapore                                National University of Singapore

  • Pioneering researcher in financial crises, financial intermediaries and liquidity
  • To hold public lecture on short-term debt and financial regulation

5 September 2013, Singapore…Professor Douglas W. Diamond, the Merton H. Miller Distinguished Service Professor of Finance at the University of Chicago Booth School of Business, will be appointed as the Monetary Authority of Singapore (MAS) Term Professor in Economics and Finance1 from 6 to 20 September 2013. He will be hosted by the National University of Singapore (NUS) Business School, where he will advise faculty members and students on their research, work on joint research papers with faculty members, and speak at seminars and research workshops.

2   Professor Diamond is also a former president of the American Finance Association and Western Finance Association, as well as a fellow of the Econometric Society, the American Academy of Arts and Sciences, and the American Finance Association. In addition, he is a research associate at the National Bureau of Economic Research and a visiting scholar at the Federal Reserve Bank of Richmond.

3   A pioneering researcher in finance, Professor Diamond has written extensively on financial crises, financial intermediaries and liquidity. He is known for the Diamond-Dybvig model of bank runs, which shows why a financial institution with long-maturity assets and short-maturity liabilities could be unstable.

4   “We are honoured to welcome Professor Douglas W. Diamond to NUS Business School. He is an internationally-renowned finance expert and has held leading positions in various research organisations. We expect our faculty members and students to benefit immensely from his perspectives and look forward to the exchange of knowledge over the next two weeks,” said Professor Bernard Yeung, Dean and Stephen Riady Distinguished Professor, NUS Business School.

5   Ms Jacqueline Loh, Deputy Managing Director, MAS, added: "Professor Diamond’s work has provided a firm foundation for understanding how vulnerabilities arise in the financial system and the means to tackle them.  His recent work is very pertinent to the post-Crisis world, and we are very pleased to have him join us as the seventh MAS Term Professor."

6   Professor Diamond will deliver a public lecture at the NUS Business School on 12 September 2013 entitled “Short-term debt and financial regulation”, which will examine how new regulatory frameworks can mitigate the risks of financial crises without destroying access to funding.

About National University of Singapore (NUS)

A leading global university centred in Asia, the National University of Singapore (NUS) is Singapore’s flagship university which offers a global approach to education and research, with a focus on Asian perspectives and expertise.
NUS has 16 faculties and schools across three campuses. Its transformative education includes a broad-based curriculum underscored by multi-disciplinary courses and cross-faculty enrichment. Over 37,000 students from 100 countries enrich the community with their diverse social and cultural perspectives.
NUS has three Research Centres of Excellence (RCE) and 23 university-level research institutes and centres. It is also a partner in Singapore’s 5th RCE. NUS shares a close affiliation with 16 national-level research institutes and centres. Research activities are strategic and robust, and NUS is well-known for its research strengths in engineering, life sciences and biomedicine, social sciences and natural sciences. It also strives to create a supportive and innovative environment to promote creative enterprise within its community.  
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About NUS Business School

National University of Singapore (NUS) Business School is known for providing management thought leadership from an Asian perspective, enabling its students and corporate partners to leverage global knowledge and Asian insights.

The school has consistently received top rankings in the Asia-Pacific region by independent publications and agencies, such as The Financial Times, Economist Intelligence Unit, and QS Top MBA, in recognition of the quality of its programmes, faculty research and graduates. In the Financial Times Global Rankings, the NUS MBA is ranked 36th in 2013, while the UCLA – NUS Executive MBA and Asia-Pacific Executive MBA were ranked 5th and 26th respectively in 2012.

In the biannual 2011 Forbes rankings for two-year MBA programmes, NUS Business School was ranked the top school in Singapore and Asia, and fourth among business schools outside the United States - the first time a Singapore business school made the list. The Quacquarelli Symonds (QS) ranked the school first in Asia and 8th in the world for accounting and finance.

The school is accredited by AACSB International (Association to Advance Collegiate Schools of Business) and EQUIS (European Quality Improvement System), and is a member of the GMAC Council, Executive MBA Council, Partnership in Management (PIM) and CEMS (Community of European Management Schools) – endorsements and affiliation with organisations of high repute in the education circle that the school has met the highest standards for business education.

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About Monetary Authority of Singapore

As Singapore's central bank, the Monetary Authority of Singapore (MAS) promotes sustained, non-inflationary economic growth through appropriate monetary policy formulation and close macroeconomic surveillance of emerging trends and potential vulnerabilities. It manages Singapore's exchange rate, foreign reserves and liquidity in the banking sector. MAS is also an integrated supervisor overseeing all financial institutions in Singapore -- banks, insurers, capital market intermediaries, financial advisors, and the stock exchange. Being an integrated supervisor allows the MAS to adopt a consistent and progressive regulatory and supervisory approach and framework, thereby ensuring a level playing field across all market segments, sectors and activities. With its mandate to foster a sound and progressive financial services sector in Singapore, MAS also helps shape Singapore's financial industry by promoting a strong corporate governance framework and close adherence to international accounting standards. In addition, it spearheads retail investor education. MAS ensures that Singapore's financial industry remains vibrant, dynamic and competitive by working closely with other government agencies and financial institutions to develop and promote Singapore as a regional and international financial centre.

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1 The MAS Term Professorship was established in 2009 to strengthen research in economics and finance, and to foster a vibrant research community and culture at local universities.