RICARDO
SCHEFER
PERSONAL:
phone: office +54
11 6314 3000
mail
web: www.cema.edu.ar/~ras
EDUCATION
Economist (Licenciado en Economía), Universidad del Salvador (http://www.usalvador.net/usal/index0.html),
Buenos Aires, 1973
Courses
and seminars in Finance:
Time Series Analysis, Universidad
del CEMA, Buenos Aires, 2006
Investment
Management Simulation, Citibank N.A.,
Securitisation
Seminar,
Corporate
Finance Seminar,
Credit Seminar,
First National Bank of
Credit
Seminar, Citibank N.A., Colonia Suiza, 1982
Events:
Guest Speaker,
Argentine Association of Finance Professors (SADAF) annual meeting,
Commentator,
Argentine Association of Economists,
Speaker, Institute
of Argentine Financial Executives annual meeting, Pilar,
2001
Guest Speaker, Latinfinance Capital Markets
Symposium,
Conference in Applied Economics, CEMA,
Capital
Markets Symposium, Citibank N.A.,
PROFESSIONAL
Resident Vice President,
Capital Markets, Citibank N.A.,
Development of the
corporate debt issuance practice
Development of the
discretionary investment management practice
Assistant Vice President, Capital Markets, First
National Bank of
Development of M&A
mandates
Team Leader, First National Bank of
Development of risk assets with multinational clients
Commercial Manager, Banco
Interfinanzas (1980-81)
Development of risk assets
Credit Manager, Banco Interfinanzas, Buenos Aires
(1978-80)
Head, Credit
Process
Manager Project Evaluation, Banco
Interfinanzas de Inversión,
Assessment of investment projects
Organization Committee, Banco Interfinanzas
de Inversión, Buenos Aires (1974-75)
Design of
functional areas
Economic Analysis Desk, General Motors Argentina
S.A. (1970-1973).
Production of periodic
economic reports and projections for company budgeting
Junior Researcher, Ford Foundation,
Assistance in the
research of response of corn and wheat planting to changes in relative
profitability
Investment Committee, BNP Paribas Asset
Management,
Expert witness, banking,
Allen, Matkins, Leck,
Gamble & Mallory, LLP,
Risk and expected return of pooled funds in the
agricultural sector, Arscap
Long term return projections of the pension fund
system in, World Bank and Ministry of Economy,
Market risk of pension fund assets, Unidos AFJP pension fund,
Valuation of structured financial products, Claridad AFJP pension fund.,
Performance
of pension fund assets, Chamber of Argentine Pension Funds,
Cost of capital estimate, Refinería
San Lorenzo S.A.,
Design of an oil price risk management policy, Refinería San Lorenzo S.A.,
Buy or rent assessment of
headquarter offices with real option, Ethika
AFJP pension fund (1994)
Market
reports to financial institutions (Banco Velox, Valfinsa)
(1991-1996)
Design of corporate
debt underwriting practice, Exprinter Banco,
Design of a private banking practice, The Royal
Bank of
ACADEMIC
1. Universities
Full
Professor, Masters and Executive and Undergraduate programmes at the
Universidad del CEMA (http://www.cema.edu.ar/foreign/about_us.html
), (1991- present):
a. Masters Programmes:
Investments, Master in Project Valuation (2001-present)
Fixed Income Securities, Master in Finance (1992-2007)
M&A, Master in Finance (2000-2007)
Applied Corporate Finance, Master in Finance (1997-2006)
Corporate Finance, MBA (1991-2004)
Fixed Income Secutiries, Master in Banking
(1997-2002)
Corporate Finance, Master in Agribusiness (1997-2000)
Corporate Finance, Master in Finance (1994-96)
b. Executive Programmes:
Investment Management, (1996-present)
Real Options (1997-present)
Price Risk Management
(1997)
c. Undergraduate Programme:
Finance, (2006-present)
d. Other:
Coordinator of the
Finance workshops (1997-2002)
Visiting Professor, MBA Law,
Fundación del Tucumán, Tucumán (2000)
Full Professor, Corporate Finance, MBA, Universidad de Belgrano (1989-96)
Visiting Finance Professor, Corporate Finance, MBA,
Universidad Católica de Salta, Salta (1994-95)
Visiting Finance Professor, Risk management, Universidad
Torcuato di Tella, Buenos Aires (1996)
Teaching Assistant, in Microeconomics I and II,
Lecturer, Universidad Torcuato
Di Tella, Techint Project
Evaluation seminar (1996)
2. other institutions
(in house)
Lecturer, Latin American Professional
Development Centre, Citibank N.A.,
Citibank,
N.A (
Citibank, N.A (
Banco
Banco
Banco
Banco
Instituto Argentino
Foro, IPOs (1992)
Banco Crédito Argentino,
Options, (1992)
Association of Argentine Banks (ADEBA), Investments
(1993)
Banco Shaw,
Finance (1993)
Banco Velox, Fixed Income Securities (1993)
The
Boston Investment Group, Corporate Finance (1993)
Exprinter Banco, Options (1993)
Petroquímica Comodoro Rivadavia, Finance (1993)
DYCASA, Finance (1994)
Banco Crédito Argentino, Corporate Finance (1994)
Banco Rio, Investments (1994)
Refinería
AACREA, Valuation & Real Optios
(1996)
Banco Río, Investments,
(1996)
Association
of Argentine Banks (ADEBA), VaR, (1996)
Association
of Argentine Banks (ADEBA), Derivatives (1996)
Banco Río, Investments II, (1996)
Bank
Hofmann AG, Investments (1997)
Banco Privado de
Inversiones, Investments (1997)
Banco Privado de
Inversiones, Options (1998)
Securities Commission (Comisión Nacional de Valores), Investments (1999)
Securities Commission (Comisión Nacional de Valores),
Capital Structure (1999)
Argentine Central Bank, Academic
Coordinator, Financial Specialisation Programme
(1999-2000)
"Obligaciones Negociables", Abeledo-Perrot,
“Obligaciones
Negociables para el Crecimiento”, Instituto Argentino de Ejecutivos de
Finanzas, Septiembre 1988.
“Duration:
una medida de Volatilidad”, Instituto Argentino de Mercado de Capitales, año 6,
No.19, 1991
“Administración de
Inversiones: Estado actual y Perspectivas”, Instituto Argentino de Mercado de
Capitales, año 8, No.24, 1993
“Un Swap de Tasa de Interés contra Retorno de Acciones” , Instituto Argentino de Mercado de Capitales, año 9,
No.28, 1994, nota de tapa.
“La demanda de
Automóviles Nuevos en la Argentina: una aproximación mediante funciones
estadísticas”, monografía no publicada, Universidad del Salvador, 1972
“La deficiencia de
la Duración como medida de volatilidad de los bonos riesgosos”, monografía no
publicada, Universidad del CEMA, 1995
“Depósitos bancarios Cotizables”,C-Mail,
Universidad del CEMA, Octubre 1997
“El agujero del enfoque riesgo país“, Análisis, Centro de Análisis Aplicado de la
Universidad del CEMA, año II No.10, abril 2000
“La racionalidad de las decisiones estratégicas”, Análisis, Centro de Análisis Aplicado
de la Universidad del CEMA, año III No.13, octubre 2000
“Un error de aplicación con la prima de riesgo país", Análisis, Centro de Análisis Aplicado de
la Universidad del CEMA, año III No.14, diciembre 2000
“El Agujero
del enfoque Riesgo País”, Análisis - Centro de Análisis Aplicado de la
Universidad del CEMA, año II No.10, abril 2000
“FJP: entre los aportantes y la inversión real”, Documento de Trabajo número 199,
Universidad del CEMA, septiembre 2001
“Índice de Acciones y Expectativa Sistémica”, Análisis - Centro de Análisis Aplicado
de la Universidad del CEMA, año VI No.32, diciembre 2003
“El cuento de la tasa de interés”, Análisis - Centro de Análisis Aplicado de la
Universidad del CEMA, año VI No.33, febrero 2004
“Retorno y riesgo histórico de bonos soberanos y tasas de interés” ,Análisis, Centro de
Análisis Aplicado de la Universidad del CEMA, año VII No.42, Noviembre 2005