Research Advisory Board

BCA Research has significant in-house research talent. We also attach great importance to maintaining close links with a broad range of external experts in order to exchange ideas and views regarding the economic and financial market outlook. To this end, in 2010, we established a Research Advisory Board (RAB) comprising a diverse group of acknowledged economic and investment experts. The RAB includes members with backgrounds in: policy making, fund management, academia and business, and represents Asia, Europe and North America. BCA strategists meet regularly with the RAB to brainstorm on key issues and themes that will drive global investment trends and to identify major risks to the outlook.

2014 RAB Members

Martin H. Barnes

Chief Economist, BCA Research

David Asher

David Asher is an Adjunct Senior Fellow at The Center For A New American Security, where he specializes in issues related to Asia, economics and security. From 2001-2005, he served as Senior Adviser for East Asian and Pacific Affairs and coordinator of the North Korea Working Group at the State Department, where he helped plan and participated in the Six Party Talks. He also directed the North Korea Activities Group at the National Security Council, overseeing the Bush administration’s strategy against the Kim Jong Il regime’s illicit activities and finances. Over the past 20 years, he also has worked as a principal, strategist, and management consultant in the financial services and asset management industries, focused on Asia.

Tony Boeckh

Tony Boeckh’s economic and financial writings have been widely followed by individual and institutional investors for over 40 years. He was the Chairman and Editor-in-Chief of BCA Research Inc. from 1968 to 2002 where, under his leadership, BCA grew from a small firm to become one of the world’s leading independent investment research companies. He is the author of “The Great Reflation: How Investors Can Profit from the New World of Money”, published in 2010. Currently, Tony manages Boeckh Investments Inc., a family office and private investment firm specializing in small public companies.

Richard Davidson

Richard Davidson spent 13 years with Morgan Stanley where, as European strategist, he became a managing director in 1998 and was consistently ranked number one in both the Institutional Investor and Extel surveys. In 2003, he joined Morgan Stanley Investment Management as manager of the US$7 billion Global Asset Allocation Fund and was also made Acting Chief Investment Officer for the London office. In 2005, he joined Lansdowne Partners as a partner, to design, launch and manage the Lansdowne Macro Fund, which he ran in partnership with Alastair McLeod and Peter Simon. Mr. Davidson is also a member of the Investment Committee of the University of Edinburgh Endowment.

George Magnus

George Magnus is Senior Economic Adviser, UBS Investment Bank, and author of the book “The Age of Aging: How Demographics Are Changing the Global Economy and Our World”.  Mr. Magnus has a long and successful career in the financial services industry, having worked with Lloyds, Bank of America, UK stockbroker Laurie Milbank, merchant bank SG Warburg, and then UBS. He was the Chief Economist at UBS from 1995 until 2005. He has written extensively on many facets of the financial and economic crisis, and what this signals for the economic future.

John Makin

John Makin is a resident scholar at the American Enterprise Institute where he studies the US economy, monetary policy, financial markets, corporate taxation and banking. He also studies and writes frequently about Japanese, Chinese and European economic issues.  Mr. Makin has served as a consultant to the US Treasury Department, the Congressional Budget Office, and the International Monetary Fund. He spent 20 years on Wall Street as the chief economist and later as a principal of Caxton Associates a trading and investment firm. He has also been a scholar at the Bank of Japan, the Federal Reserve Bank of San Francisco, the Federal Bank of Chicago, and the National Bureau of Economic Research. A prolific writer, he is the author of numerous books and articles on financial, monetary, and fiscal policy.

Athanasios Orphanides

Athanasios Orphanides is Professor of the Practice of Global Economics and Management at the MIT Sloan School of Management. Before joining MIT, he served a five-year term (2007-2012) as Governor of the Central Bank of Cyprus. After the introduction of the euro in Cyprus in January 2008, Orphanides served as a member of the Governing Council of the European Central Bank. 

John Porter

John Porter has had a distinguished career in financial markets, most recently as Managing Director, Head of Global Strategic Portfolio, Barclays Capital, a position he left in 2013. Prior to joining Barclays he had positions as principal and chief economist at Summit Capital Advisors and principal at Moore Capital Management. Before joining Moore, Mr. Porter was Chief Investment Officer at the World Bank where he was responsible for the management of a US$30 billion international bond portfolio. He has a doctorate in psychology as well as an advanced degree in economics and has published on both topics.

Bill White

William White’s long and distinguished career in monetary policy began in 1969 as an economist with the Bank of England. Beginning in 1972, he subsequently spent 22 years with the Bank of Canada, rising to the position of Deputy Governor. He joined the Bank for International Settlements (BIS) in 1994 reaching the position of Economic Advisor and Head of the Monetary and Economic Department, in 1995.  He has published and spoken widely on the issue of macroeconomic stability and well before the crisis, repeatedly warned of the dangers arising from too-rapid growth in debt and credit.  Mr. White was appointed to his current OECD position after retiring from the BIS in 2008.

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