Leslie Rahl

Leslie Rahl is the Founder and Managing Partner of Capital Market Risk Advisors (CMRA), a pre-eminent boutique providing risk analysis, litigation consulting and expert witness services to major US and international financial services companies, institutional investors, funds, and law firms and other market participants. She has advised numerous clients on 6 continents on a wide range of risk management and risk governance issues impacting the financial markets and has also provided expert services in connection with a number of investigations and litigations involving various securities, commodities and derivatives-related matters.

Prior to founding CMRA, Ms. Rahl spent 19 years at Citibank, including nine years as co-head of Citibank’s Derivatives Group in North America. She launched its caps and collars business in 1983 as an extension of her role as a trader of a proprietary options arbitrage portfolio. Prior to the derivatives business, Ms. Rahl was a trader in municipal GICs; was chief of staff of the Investment Bank; ran a variety of departments/divisions including at various times Stock Transfer, Corporate Trust Department, ADR, Precious Metals, Brokers Bank Services: and during her first 5 years at the banks held a variety of interdisciplinary staff management departments for the Commercial Bank including marketing, strategic planning, and financial control.

As a pioneer in the derivatives and structured finance businesses and a long-time advisor to all types of financial services companies, Ms. Rahl has a unique cross-industry perspective. Ms. Rahl is the author of Hedge Fund Risk Transparency: Unravelling the Complex and Controversial Debate, published in March 2003 by Risk Books, and the editor of Risk Budgeting: A New Approach to Investing, published in November 2000 by Risk Books. Her articles and surveys appear in leading financial and technical publications and she is frequently called upon as a market leader and commentator to provide her expertise and perspective on high profile matters impacting the financial markets.

Ms. Rahl was named one of the Top 50 Women in Finance by Euromoney in 1997 and was profiled in both the fifth and tenth anniversary issues of Risk Magazine. She was listed in "Who's Who in Derivatives" by Risk Magazine and was profiled in Fortune's "On the Rise" and Institutional Investor's "The Next Generation of Financial Leaders."

Ms. Rahl is on the Board of Directors of the Canadian Imperial Bank of Commerce (CIBC), and the International Association of Financial Engineers (IAFE). She is on the Advisory Boards for the Sloan School at MIT and the Courant Institute Mathematics in Finance Program at NYU and is a member of the Economic Club of NY.

She was a Director of the International Swaps Dealers Association (ISDA) from 1986-1991 and was Chair of the 1987 Documentation Committee. She also previously chaired the International Association of Financial Engineer’s (IAFE) Investor Risk Committee (IRC), was a former Director of Fannie Mae and Chair of the Risk Committee, was a Trustee of the MIT Investment Management Company, and a member of the Advisory Board of the New York State Common Retirement Board.

Ms. Rahl has an SB from MIT and an SM/MBA from the Sloan School at MIT.