Dr. Andrew Carron
President
Education
PhD, MPhil, and MA in economics, Yale University
BA in economics, Harvard University
Experience
Dr. Carron became President of NERA in January 2006. He formerly chaired the firm's Securities and Finance Practice. He specializes in securities and financial economics, focusing on fixed income instruments, derivatives, and risk management. He has worked extensively on matters involving subprime securities and CDOs. He has been qualified at arbitration hearings and at trial as an expert in financial economics, securities markets, industry customs and practices, suitability of investment recommendations, prudence under the ERISA standard, and calculation of damages.
Dr. Carron has testified on behalf of both claimants and respondents in broker-customer arbitrations involving allegations of unsuitability, churning, and excessive mark-ups. He has been retained for analyses of liability and damages in commercial disputes, litigation involving claims of accounting fraud, and lawsuits relating to hedge funds, mutual funds, banking, and real estate investment. Dr. Carron has submitted affidavits in class certification proceedings involving bonds and related instruments. In addition, he has conducted studies of market structure and practices for bond rating agencies, financial institutions, and individual and institutional investors.
Dr. Carron has testified in arbitration proceedings under the authority of the American Arbitration Association, the NYSE, the NASD, FINRA, and UNCITRAL (Bermuda). He has also submitted testimony to courts in Canada, Hong Kong, and the Cayman Islands.
Prior to joining NERA, Dr. Carron was Director- Global Risk Management at CS First Boston, where he was responsible for the oversight of risk exposure for his firm's trading activities in mortgage- and asset-backed securities, residential and consumer loans, and real estate. He also directed fixed income research for global bonds, emerging markets, and currencies for two years, while based in London.
Before joining the securities industry, Dr. Carron conducted research on financial markets at the Brookings Institution. In addition, Dr. Carron has served as a senior staff member on the President's Commission on Housing and was a consultant to the Federal Home Loan Bank Board.
Dr. Carron has published articles in The Journal of Real Estate Finance and Economics, Journal of Economic Literature, Brookings Papers on Economic Activity, Standard & Poor's Credit Week, and American Banker. His 1982 book, The Plight of the Thrift Institutions, was the first publication to foresee the eventual collapse of the savings and loan industry.
