Angel Berges Lobera Esma Europa by liaoqinmei


									              Securities and Markets Stakeholder Group
                                                                                               Date: April 2012


Dr. Berges is a Professor of Finance at the Universidad Autonoma Madrid, where he has been involved in
teaching and research since 1982. His main areas of research are financial markets, banking, and asset

He holds a PhD in Finance at Purdue University (USA), where he pursued his degree during 1979-1982,
under a Fulbright Scholarship. His doctoral dissertation was “Arbitrage Pricing Theory: Estimation and

He has published over 10 books and over 100 articles in scientific journals, and he is a former President of
the European Finance Association, the most prestigious academic association in the field of finance in
Europe, founded in 1974.

Complementary to his academic experience, Dr. Berges has developed an intense activity in consulting and
advisory, as a founding partner, and currently chief executive officer, of AFI.

AFI, an independent partnership founded in 1987, is actually one of the largest Spanish consulting com-
panies in the fields of banking and financial markets. With over 100 people working, it serves over 200
clients, mainly in the financial industry (banks, institutional investors, insurance companies), but also in
the corporate sector, public administrations, regulators, and supranational institutions.

Through its Escuela de Finanzas Aplicadas, AFI also covers a high quality educational offer in the fields
related to its core consulting areas.

Dr. Berges was a member of the technical committee of IBEX, the main stock index in the Spanish stock
market, since its creation in 199o until 1997. He resigned, to avoid conflict of interest, when he was ap-
pointed member of the board of a quoted company.

He has been a member of the board of quoted companies like Azkoyen, or Adolfo Dominguez

ESMA SMSG • 103, rue de Grenelle • 75007 Paris • France • Tel. +33 (0) 1 58 36 43 21 •

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