The Path to Recovery in a COVID-19 World

Please note that this event will be through Zoom. Login information will be provided in the reminder email closer to the event.
Hosted by: Education Advisory Group

The word ‘unprecedented’ has probably been over-used in the past few months, however, this financial, economic and health crisis is certainly unlike anything we have experienced in our careers whether they span decades or just a few years. World GDP is going through a collapse of activity only seen during war time; however, policy makers have also been quicker to respond than in past crises. How should investors think through the various paths we can take?  We will speak with Brian Coulton, chief economist of Fitch Ratings, to discuss the following questions and how they affect the path to recovery:

  • When and how will economies re-open?
  • Was this a supply or a demand shock and does it matter?
  • How much stimulus is enough, or too much?
  • Will this crisis have a lasting impact on fiat money?

Brian Coulton - Chief Economist, Fitch Ratings

Moderator: Rich Excell, CFA - Instructor of Finance at the University of Illinois, Gies College of Business

Members - FREE 
Nonmembers - FREE
(member pricing underwritten by CFA Society Chicago)

CFA Institute Qualified Activity: Eligible for 1 credit hour

Registration: Online (Zoom login information will be provided in the reminder email closer to the event )

9:00 am - 10:00 am CT: Program
Please log in a few minutes early to test your video and internet connections.

*Distribution of presentation slides is at the discretion of the speaker and may not be available for this event


Brian Coulton re-joined Fitch Ratings in October 2015 as Chief Economist. His previous employment was at Legal and General Investment Management in London where he worked as an emerging market strategist from November 2010 to September 2015. 

Prior to that Coulton worked in the Sovereign Group at Fitch Ratings for eleven years, including spells in Hong Kong as head of Asia Pacific Sovereigns and in London as head of EMEA Sovereigns and Global Economics. He was formerly an economic adviser at HM Treasury. Coulton has a master’s degree in economics from the University of Warwick and a BSc (Econ) from the University of Wales.


Richard Excell, CFA, is an Instructor of Finance at the University of Illinois, Gies College of Business. In addition to this role, he is a senior portfolio manager at Wolverine Asset Management in Chicago in which he runs a global equity long/short hedge fund portfolio. In this role, he oversees a portfolio that combines quantitative factor and discretionary macro analysis, with bottom-up fundamental analysis and derivatives trade implementation to create a concentrated long/short portfolio that aims to deliver high risk-adjusted returns for institutional investors.

Before joining WAM, he was the CIO and a partner at Satori Investment Partners. He spent the majority of his career with UBS O’Connor, where he was most recently managing director, senior portfolio manager and co-head of the Fundamental Equity Market Neutral Fund. Prior to this, as head of the European office, Excell was responsible for both the global macro and the equity long/short strategies. Earlier in his career, he built and managed foreign exchange, precious metals, and emerging market cash and derivatives trading businesses around the world while with O’Connor, First Chicago, BZW (Barclays Capital) and Crédit Agricole Indosuez and has lived in Japan, Hong Kong, Singapore, Switzerland and the UK. 

Excell holds a B.S. in finance with a minor in accounting and Japanese studies from the University of Illinois and an M.B.A. from the University of Chicago. He became a CFA® charterholder in 1999 while living in Singapore and became a CMT charter holder in 2018. He serves as the co-chair of the Education Advisory Group and is on the Budget Committee of CFA Society Chicago. Outside of work, he is director of the Western Golf Association/Evans Scholars Foundation and a board member of the Bright Promises Foundation in Chicago.

*Special Notes Regarding Fees:
This event is complimentary for both members and nonmembers. Registration online is required and closes at 5:00 PM on April 29, 2020.

CFA Institute CE Qualified Activity
This program qualifies for credit under the guidelines for the CFA Institute Professional Development Program.

4/30/2020 9:00 AM - 10:00 AM

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