Dr. Alan Greenspan Joins Advisors Capital Management as Economic Advisor
(Ridgewood, NJ) – Advisors Capital Management, LLC (ACM), a globally recognized investment manager, is pleased to announce that Dr. Alan Greenspan has joined ACM as Economic Advisor. The former Federal Reserve Chairman will work closely with senior members of the firm and participate with the firm’s investment committee by providing economic analysis to support the firm’s top down approach to selecting sectors in the economy for investment. Dr. Greenspan will also provide economic and market valuation analysis.
ACM’s co-founder and Chief Investment Officer, Dr. Charles Lieberman, is looking forward to the collaboration. “I am very excited to resume working with one of the towering members of the economics profession. He has served our profession and our nation with distinction. I am now pleased we can bring the benefit of his insight to our investment clients.”
Dr. Greenspan’s insight will be highly beneficial to ACM’s investment management. ACM’s investment process led by Dr. Lieberman, a former Wall Street and Federal Reserve economist, identifies economic sectors that might be affected by macro developments, before implementing a value oriented bottom up securities selection.
About Alan Greenspan
Alan Greenspan served five terms as chairman of the Board of Governors of the Federal Reserve System from August 11, 1987, when he was first appointed by President Ronald Reagan. His last term ended on January 31, 2006. He was appointed chairman by four different presidents.
Dr. Greenspan received his bachelor’s (summa cum laude), master’s, and doctoral degrees in economics, all from New York University. He also studied economics at Columbia University in the early 1950s and one of his professors, Dr. Arthur Burns, would later precede him as chairman of both the President’s Council of Economic Advisors and, later, the Board of Governors of the Federal Reserve.
From 1954 to 1974 and from 1977 to 1987, Dr. Greenspan was chairman and president of Townsend-Greenspan & Co., Inc., an economic consulting firm based in New York City. He served as chairman of the President’s Council of Economic Advisers under President Gerald Ford from 1974 through 1977, and from 1981 to 1983, as chairman of the National Commission on Social Security Reform. In addition, he served as a member of President Ronald Reagan’s Economic Policy Advisory Board and was a consultant to the Congressional Budget Office.
Shortly after assuming office as chairman of the Board of Governors, Greenspan faced the October 1987 stock market crash and acted quickly to inject liquidity into the financial system to calm the markets. During his tenure he led the Federal Reserve through several major events with significant economic repercussions, including two U.S. recessions, the Asian financial crisis of 1997, the collapse of Long Term Capital and the Russian default in 1998 and the September 11, 2001 terrorist attacks. Many observers credit Greenspan with further reducing inflation while facilitating the longest official economic expansion in U.S. history. For these accomplishments, he was dubbed the “Maestro” by Wall Street analysts. He was also known for his skill at building consensus among members of the Federal Open Market Committee on policy issues.
After leaving the Board of Governors, Greenspan opened his own Washington D.C.-based consulting firm, Greenspan Associates, LLC. His memoir, The Age of Turbulence, was published in 2007 and debuted at the top of the New York Times Bestseller list. His second book, The Map and the Territory: Risk, Human Nature, and the Future of Forecasting, was published in 2013, and the updated paperback edition, The Map and the Territory 2.0, in 2014.
About Advisors Capital Management, LLC
Established in 1998, and headquartered in Ridgewood NJ, ACM is globally recognized investment manager providing portfolio and wealth management services to affiliated advisors and direct clients throughout the United States. ACM has been named to the Financial Times Top 300 RIAs* over the past two years and the firm’s investment income solutions have been recognized by numerous financial media outlets including Barron’s, The Wall Street Journal, Bloomberg and CNBC.
For Institutional Separate Account Services:
Julia Schwartzmeyer at 201-447-3400 ext. 115
For Direct Wealth Services:
Karen LoSchiavo at 201-447-3400 ext. 104