NERA Economic Consulting Announces Senior-Level Promotions

13 October 2016

13 October 2016/New York—NERA Economic Consulting, a leading global provider of economic advice and analysis in business, legal, and regulatory matters, is pleased to announce that Dr. Hiroaki Ishigaki has been promoted to Managing Director, and Jorge Baez, Jennifer Cascone Fauver, Drew Claxton, Erin McHugh, Dr. Christopher Milde, and Raymund Wong to Associate Director.

Managing Director
Dr. Hiroaki Ishigaki
, based in NERA’s Tokyo office, specializes in antitrust, intellectual property, transfer pricing, securities and finance, commercial litigation, and energy. His areas of expertise include microeconomics, game theory, industrial organization, and applied econometrics. In his antitrust practice, Dr. Ishigaki has analyzed the competitive impacts of many merger cases in a wide range of industries, and he has addressed liability and damages issues involving bid rigging, cartels, predatory pricing, monopolization, abuse of superior bargaining position, and other antitrust violations in various industries. Dr. Ishigaki also performs economic assessments in intellectual property, transfer pricing, securities and finance, commercial litigation, and energy matters. He has evaluated damages in various patent disputes, and reasonable compensation in employee invention disputes. He also has experience in helping license agreement of intellectual property rights. In his securities and finance practice, he has analyzed liability claims and damages in securities litigation regarding various fraudulent financial reporting, as well as minority squeezed-out and derivative transaction disputes.

Associate Directors
Mr. Jorge Baez
specializes in securities, finance, and commercial litigation, including valuation and damage analyses. His testimony and advisory work experiences have involved the analysis of the economic reasonableness and valuation of securities and structured products including MBS, options, and futures; due diligence of hedge funds; insider trading and Ponzi schemes; and estimating lost profits in breach of contract cases. He has analyzed issues relevant to class certification, damages, and loss causation on individual stocks in more than 50 securities class actions. His work has focused on industries such as oil and gas, pharmaceuticals, telecommunications, transportation, banking, and IT. Mr. Baez has testified at trials in Federal District Court and in Spanish and Swiss Courts.

Ms. Jennifer Cascone Fauver, a Washington-based expert, consults on matters in the areas of antitrust litigation and merger analysis. Her work has been incorporated into expert testimony and presentations to regulatory agencies. She has analyzed the competitive effects of mergers, and has consulted on issues related to class certification, liability, and damages for matters involving claims of pricing fixing, bid rigging, attempted monopolization, exclusive dealing, or tying. She has extensive experience consulting in criminal and white collar matters involving allegations of cartel activity. Ms. Cascone Fauver's expertise encompasses many industries.

Ms. Erin McHugh is a member of NERA's Securities and Finance Practice based in London and New York and manages projects in the areas of economics, finance, and valuation. She has consulted in litigation and arbitration matters in various venues, as well as in internal and regulatory investigations. Ms. McHugh has worked extensively in the area of disputes between brokerage firms and customers concerning investments in equities, derivatives, fixed income, and structured finance securities. She has evaluated issues including the risk characteristics of the investments, suitability, concentration, and damages. Ms. McHugh has also consulted on matters involving the valuation of financial products (including various derivatives) and business assets.

Dr. Christopher Milde is a NERA expert located in the firm’s Berlin office with over a decade experience in competition economic consulting. Having worked on many of the major recent and on-going cartel cases, Dr. Milde has particular expertise in the quantification of damage from cartels. He has also advised clients in the context of State aid and merger control proceedings by European and national competition authorities. His industry experience includes the air transport, advertising, automotive, banking, cement, copper, data centre, digital display, industrial goods, logistics, medical devices, paper, recycling & waste, rail transport, retail, sugar, steel, and telecommunications sectors.

Mr. Raymund Wong, based out of NERA’s New York office, specializes in accounting and financial economics. He has devised and implemented analyses for numerous general advisory and litigation projects. His areas of expertise include broker/customer disputes, mutual fund litigation, forensic accounting, insider trading, leasing and leveraged leasing, securities class action litigation, and valuation. Mr. Wong has been retained to issue valuation reports on the various equity, debt, and derivative securities of private companies with complex capital structures. He has also been retained as a consulting expert on cases involving forensic accounting issues, valuation, and broker/customer disputes, presenting results and findings in mediations and to the United States Department of Justice.

About NERA

NERA Economic Consulting ( is a global firm of experts dedicated to applying economic, finance, and quantitative principles to complex business and legal challenges. For more than six decades, we have been creating strategies, studies, reports, expert testimony, and policy recommendations for government authorities and the world’s leading law firms and corporations. We bring academic rigor, objectivity, and real-world industry experience to issues arising from competition, regulation, public policy, strategy, finance, and litigation.

NERA’s clients value our ability to apply and communicate state-of-the-art approaches clearly and convincingly, our commitment to deliver unbiased findings, and our reputation for quality and independence. Our clients rely on the integrity and skills of our unparalleled team of economists and other experts backed by the resources and reliability of one of the world’s largest economic consultancies. Continuing our legacy as the first international economic consultancy, NERA serves clients from major cities across North America, Europe, and Asia Pacific.