Boston University School of Management

595 Commonwealth Avenue    Boston, MA 02215

VOICE: (617) 353-4404               FAX: (617) 353-6667

E-mail: jackaber@bu.edu

BOSTON UNIVERSITY SCHOOL OF MANAGEMENT, Boston, MA:

1997-present: Professor of Finance, teaching primarily at the graduate level (Management of Commercial Banks, Corporate Finance)

1991-1997: Chairman, Finance/Economics Department

1978-1997: Associate Professor of Finance

1972-1978: Assistant Professor of Finance

GEORGIA STATE UNIVERSITY, Atlanta, Georgia:

1971-1972 Academic Year: Assistant Professor of Finance

HARVARD UNIVERSITY GRADUATE SCHOOL OF BUSINESS ADMINISTRATION

Doctor of Business Administration degree

Academic Field: Finance

Thesis Topic: Multi-Index Linear Assessment Models of Security Return

Thesis Committee: William L. White; Robert R. Glauber; Michael Tennican

COLUMBIA UNIVERSITY GRADUATE SCHOOL OF BUSINESS

Master of Business Administration degree

Research Assistant for Professor Jack Zwick

PENNSYLVANIA STATE UNIVERSITY

Bachelor of Science - Regular NROTC Scholarship

Allen E. Beckwith Teaching Award, Boston University, 1989

Harvard Business School Leadership Fellowship, 1965-1966, 1966-1967, 1967-1968

Harvard Business School Division of Research Fellowship, 1969-1970.

1965 McKinsey Scholar, Columbia University Graduate School of Business

Board of Advisors, The Bankers Magazine

American Finance Association; Financial Management Association;

Academy of Financial Services; Eastern Finance Association;

Beta Gamma Sigma - National Business Administration Honorary;

Financial Executives Institute . Boston Chapter

Military U. S. NAVY: Lieutenant Commander, USNR; Active Duty: August 1959 - August 1964

Director, The Managers Funds, Norwalk, Connecticut, 1999-present.

Senior Advisor, Putnam, Hayes & Bartlett, Inc., Cambridge, MA, 1993-present. Principal activities: Expert testimony assistance in banking-related cases; bank valuation and performance analysis; management development in electric utility industry.

Director, USAffinity Mutual Funds, Boston, MA, 1992-1996.

Independent Consulting, 1975-present. Principal activities: Management education, case-writing, program design, instruction for clients in banking, minicomputer, software, petroleum and other industries.

Consulting, University Affiliates, Inc., Potomac, MD, 1967-1983, part-time. Principal activities: Management education, case-writing, curriculum and program design, instruction.

Consulting, Temple, Barker and Sloane, Inc., Wellesley, MA, 1972-1973, part-time. Principal activities: Problem-solving; financial consulting projects. Transportation and farm equipment industries.

Banking, Citibank, New York, 1965, full-time. Principal activities: Commercial lending; correspondent bank relationships; special studies.

"Determinants of New Money Flow to the Equity Mutual Fund Industry," with D.L. Santini. Journal of Economics and Business, October 1998.

"Investor Response to Mutual Fund Policy Variables," with D.L.Santini. The Financial Review, November 1996.

"Investor Reaction to Mutual Fund Investment Levels, Expenses, and Load Charges," with D.L. Santini, Journal of Investing, Winter 1993.

"The Surprising Importance of Deposit Rate Flexibility," Journal of Retail Banking, with W.E. Jackson, Spring 1992.

"Tradeoffs in Using Arbitration to Limit Liability," with S.L. Donegan, Commercial Lending Review, Fall 1991.

"What Senior Bank Officers Think About Securitization, "Journal of Retail Banking, Winter 1989.

"Securitization in the Retail Banking World," Journal of Retail Banking, Spring 1988.

"Securitization: Promise and Opportunity for Lenders," Commercial Lending Review, Fall 1987.

"Industry Effects and Multivariate Stock Price Behavior," Journal of Financial and Quantitative Analysis, November 1976.

"Evidence on the Performance of Money Market/Options Mutual Funds," Proceedings, Eastern Finance Association, April 1977. (Also, Proceedings of the Modeling and Simulation Conference, University of Pittsburgh, April 1977.)

"A Simulation of Money Market/Option Mutual Funds," Proceedings, Financial Management Association, Montreal, October 1976 (with A. Michel and S. Frost).

"A Sensitivity Analysis of Call Option Prices," Proceedings, Eastern Finance Association, Valley Forge, PA, 1976 (with A. Michel).

"Multi-Index Portfolio Selection Models: Some Empirical Results," Proceedings, Easter Finance Association, Charleston, SC, 1975.

"Bayesian Estimation of the Stationarity of Beta Coefficients," Proceedings, American Institute of Decision Sciences, Northeast Region, Philadelphia, 1974.

"An Evaluation of Multi-Index Portfolio Selection Models," Proceedings, American Institute of Decision Sciences, Southeast Region, Dallas, 1974.

"Stability of Beta Coefficients in Models of Security Return," Conference Proceedings, American Institute of Decision Sciences, Southeast Region, Memphis, 1972.

Beta Coefficients and Models of Security Return, D.C. Heath: Lexington, MA, 1973.

Bank Management, published by the American Institute of Banking, 1971. Developed and wrote twelve case studies for this book.

"Lessons From the Growth History of Mutual Funds," with D.L. Santini and Alex Kane. Boston University School of Management Working Paper Number 91-19.

"The Performance Persistence of Bond Mutual Funds." with Donald L. Santini.

"Investor Response to Mutual Fund Performance Measures," with D. L. Santini.

"Determinants of New Money Flow to the Equity Mutual Fund Industry," with D.L. Santini, Eastern Finance Association, Miami Beach, April 1999.

"The Impact of Interest Rates, Investment Performance, and Personal Income Measures on New Money Flow to Equity Mutual Funds," with D.L. Santini, Midwest Finance Association, Nashville, March 1999.

"Investor Response to Mutual Fund Policy Variables," with D.L. Santini, Academy of Financial Services, New Orleans, October, 1996.

"Investor Response to Mutual Fund Performance Measures," with D. L. Santini, Academy of Financial Services, St. Louis, October, 1994.

"Mutual Fund Investor Reaction to Minimum Investment Levels, Expenses and Load Charges," Financial Management Association, San Francisco, October, 1993.

"Strategic and Operating Innovations in Financial Entities," Salvador University and Argentine Bankers Association, Buenos Aires, October, 1992.

"Forbes Rankings and Other Fund Performance Measures: Do They Attract New Money to Mutual Funds?" Presented at Eastern Finance Association, Charleston, S.C., April, 1992.

"Lessons From the Growth History of Mutual Funds," with D.L. Santini and Alex Kane. Presented at American Finance Association, New Orleans, January, 1992. Presented at NBER Summer Institute, Cambridge, MA, July, 1991.

"Frequency of Rate Changes in Bank Retail Deposit Accounts and Its Impact on Banks' Market Shares," with W.E. Jackson. Presented at Academy of Financial Services, Chicago, October, 1991.

"The Variability of Commercial Bank Interest Margins and Market Interest Rates: An Empirical Investigation." Presented at Eastern Finance Association, April, 1990.

"Banking in the 1990's," University of the Andes, Bogota (Specialization in Banking Program), June, 1989.

"Trends in the Disclosure of Bank Interest Sensitivity Management," presented at Eastern Finance Association, Baltimore, April, 1987.

"Industry Effects and Multivariate Stock Price Behavior," presented at Western Finance Association, San Francisco, June 1976.

"An Evaluation of Multi-Index Portfolio Selection Models," presented at Financial Management Association, San Diego, 1974.

Ampro Europe, 1970. International loan to subsidiary of large domestic client; protective covenants. ICCH No. 9-270-012. Reprinted in Hunt, Williams, and Donaldson, Basic Business Finance, Fourth Edition, 1971, Richard D. Irwin Co.

Arroyo Power Marketing, 1996. Introduction to and use of the electricity futures contract to hedge price exposure in a large sale of power to an irrigation district.

Bank of Montreal, 1986. Opportunity for analysis of acquisition of large Chicago bank by a large Canadian bank.

Beacon Street Bank, 1972. Linear programming application to commercial bank portfolio management.

Beaufort Sea Drilling System Decision, 1983. Decision to commit sizeable resources to offshore petroleum production.

Beverly Savings Bank (A) and (B), 1989. Decision by Massachusetts mutual savings bank of whether to convert to stock form.

Chase Manhattan Bank, 1967. Large international participation term loan. ICCH No. 8-268-006.

Chase Manhattan Stock Market-Linked C.D., 1988. The particulars of an innovative deposit instrument whose return is dependent on stock market performance.

Community Mutual Savings Bank, 1985. Use of interest rate swap by thrift institution to reduce interest rate risk.

Creative Environments, Inc., 1982. Venture capital proposal.

Determining the Appropriate Multiplier, 1974. Assessing risk class and beta as steps in the valuation of a non-public company.

First Bank System, 1989. Short description of bank's interest rate gamble resulting in a $640 million loss in its U.S. government bond portfolio, and falling stock price.

First Pennsylvania Bank as a Competitor for Savings (A) and (B), 1967. Introduction of retail savings certificate.

First Wisconsin National Bank (A) and (B), 1968. Profit centers; transfer pricing in large commercial bank. ICCH No. 4-269-032, 023.

Fulton Federal Savings and Loan Association, 1972. Retail savings marketing strategy.

Gateway City Bank (A) and (B), 1968. No-service-charge checking. ICCH No. 8-268-016, 9-268-023.

Houdaille Industries, 1981. Large leveraged buyout from viewpoint of the major lender, Prudential Insurance Company.

Ivy State Bank, 1967. Capital adequacy issues in a small bank.

Jury Award Against Bank of America, 1988. Short description of major lender liability lawsuit involving a huge jury award.

Kenmore Steamers, 1996. Short case requiring break-even analysis using a spreadsheet.

King Manufacturing Company (A), (B), and (C), 1968. Short-term participation loan secured by receivables to swimming pool manufacturer. ICCH No. 9-268-019,020,021.

Narragansett Capital Corporation (B), 1967. Investment policies and dividend policy of an SBIC. ICCH No. 9-213-042.

Northeast Federal Savings Bank, 1985. Asset/liability/ management in a thrift using interest rate swaps.

Putnam Energy Corporation, 1997. Use of natural gas and electricity futures to address . spark spread. price risk by energy converter.

Prudential Insurance Company (B) and (C), 1967. Large term loan to permit an important acquisition; equity sweetener. ICCH No. 4-268-007,008.

Rowland Trust Company, 1975. Bank merger proposal.

Softek Services, Inc., 1985. Working capital loan to a rapidly growing high-technology firm.

Sources and Uses of Funds at C&S Bank, 1973. Proposals to finance loan demand in the 1969 credit crunch.

Spencer Bank, 1968. Bank merger proposal between a mature medium-sized bank and a new, rapidly growing smaller bank.

Taurus Industries, 1967. Installation of a computer-administered credit management system to mange $1 billion receivables of large manufacturing concern. ICCH No. 9-212-091. Reprinted in Hunt and Andrews, Financial Management, Revised Edition, 1967, Richard D. Irwin Co.

Teche Bancshares, 1986. Evaluation of strategy of small bank in the changing Louisiana banking environment, including merger opportunity.

Walleye Lake Properties, 1968. Bank loan proposal to support condominium resort development. ICCH No. 4-268-005.

NOTE: This list does not include the twelve case studies included

in Bank Management, American Institute of Banking, 1971.

"Building a Risk Management Culture," The Bankers Magazine, March/April 1996.

"Financial Services: Perspectives and Challenges," edited by Samuel L. Hayes III, The Bankers Magazine, March/April 1994.

"The Twilight of Sovereignty," by Walter B. Wriston, The Bankers Magazine, March/April 1993.

"The Future of Banking," by James L. Pierce, The Bankers Magazine, January/February 1992.

"American Banking in Crisis: Views From Leading Financial Services CEOs," by Richard B. Miller, The Bankers Magazine, July/August 1990.

"The Big Fix: Inside the S&L Scandal," by James Ring Adams, The Bankers Magazine, March/April 1990.

"Breaking Up the Bank," by Lowell L. Bryan, The Bankers Magazine, January/February 1989.

"Money in the Bank," by A. Robert Abboud, The Bankers Magazine, July/August 1988.

"The New World of Commercial Banking," by Eric N. Compton, The Bankers Magazine, November/December 1987.

"The International Debt Game," by Brian Kettell and George A. Magnus, The Bankers Magazine, July/August 1987.

"Investments," by Robert Radcliffe, Journal of Finance, December 1983.

"Analytical Techniques for Financial Management," by Osteryoung and McCarty, Journal of Finance, March 1982.

"Financial Statement Analysis: A New Approach," by Baruch Lev. The Financial Review, 1975.