Richard Bookstaber is a Research Principal in the Office of Financial Research. He is also Senior Adviser in the Treasury to the Financial Stability Oversight Council (FSOC). He has been instrumental in the drafting and implementation of the Volcker Rule and in standing up the risk management structure in FSOC for managing systemic risk for the U.S. financial system.
He was the risk manager at Moore Capital Management, then founded his own hedge fund, the Quantitative Equity Fund at FrontPoint Partners, and had positions in research and risk management at Bridgewater Associates.
From 1984 until 1998, Bookstaber worked on the sell side; his first ten years at Morgan Stanley in derivatives modeling and design, proprietary trading, and then as the firm’s first market risk manager, and then from 1994 through 1998 he was in charge of firm-wide risk at Salomon Brothers, overseeing both the client and proprietary businesses.
Richard Bookstaber is the author of A Demon of Our Own Design (Wiley, 2007).
He received a PhD in economics from MIT.