Panelists: Expanding Markets

Jeffrey R. Shafer
Vice Chairman of Global Banking and Head of Economic and Political Strategies
Citigroup

Jeffrey R. Shafer is the Vice Chairman of Citigroup’s Global Banking and Head of Economic and Political Strategies, which is responsible for identification and analysis of key global economic and political issues. Mr. Shafer is also responsible for relationships with key government officials around the world.

Since joining the firm in February 1997, Mr. Shafer has worked with governments in Asia, Latin America and Europe on financial stabilization, liability management, debt issuance and privatization. In February 1999, he took on the role of Head of Privatization for the firm, and in 2003, became Vice Chairman of the Public Sector Group. While directing Citigroup’s privatization effort, he has personally worked closely with governments around the world, including France (Credit Lyonnais), Japan (NTT), Korea (POSCO), India (VSNL), and China (China Life). He has also been involved in landmark sovereign and quasi-sovereign bond transactions including for Korea, Turkey, China, Indonesia, the Philippines and Thailand.

From 1993 to 1997, Mr. Shafer was Assistant Secretary and subsequently Under Secretary of the U.S. Treasury for International Affairs. At the Treasury Department, he was responsible for international economic and financial issues, focusing on strengthening economic growth and financial stability in both developed and developing countries, fostering financial market development and liberalization, and strengthening the IMF and multilateral development banks. From 1984 until 1993, Mr. Shafer held a series of high-level positions at the Organization for Economic Cooperation and Development (OECD). Prior to the OECD, he served with the Federal Reserve Bank of New York, the Federal Reserve Board and the Council of Economic Advisors.

Mr. Shafer holds a B.A. in Economics from Princeton University and M.Phil. and Ph.D. degrees in Economics from Yale University. He is a member of the Council on Foreign Relations, a former member of the Advisory Board of the Asian Development Bank Institute, Vice Chairman of the Council for the United States and Italy, member of the Hong Kong Association of New York, the India-America Chamber of Commerce and on the Advisory council for the Korea Economic Institute of America.

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