Marc R. BRADFORD Professor



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Marc R. BRADFORD Professor Teaching Areas: Corporate and Structured Finance, Project and Asset Finance, Global Finance Year hired at ISC Paris: 2006 as Permanent Professor previously Associate Professor since the early 90s Full-Time Participating Permanent Grande Ecole and MBA: teaching at both levels Education: Degree Institution Year Major / Minor Graduate DEA Sorbonne University in Paris (Paris-I) With a Mémoire /Thesis (17/20) recognized as equivalent to a French Thèse de 3ème Cycle 1981 Major: Money, Finance and Banking Graduate Maîtrise Institut d Etudes Politiques de Paris 1980 Major: Economics Diplôme de SciencesPo-Paris and Finance Undergraduate Licence Sorbonne University in Paris (Paris-I) 1979 Maîtrise Universitaire Sorbonne University in Paris (Paris-I) Licence Universitaire Major: Economics Minor: Macroeconomics 1978 Major: Economics Minor: Macroeconomics Sorbonne University in Paris (Paris-IV) 1978 Licence Universitaire Major: Modern Literature Institut National des Techniques Economiques et Comptables du 1981 Conservatoire National des Arts et Métiers Major:Certificate in Accounting

Course Responsibilities at ISC Paris 2005 through 2010: ISC/Grande Ecole/3 rd Year : 40 hours on average every year in a Structured Finance/Project Finance seminar for the ICF/GRFA major/specialization, and the same for the Finance major/ specialization; and (starting in school year 2007-08) 18 hours in a Structuring and Management of International Project Finance seminar for the IBM major/specialization. All seminars are performed in English (except until 2008 for the Finance specialization, seminar performed in French) ISC/MBA: 44 hours on average every year in a Global Finance and Financial Engineering seminar in French for the FTIF (until 2008) and FIF (thereafter) major/specialization; and (in 2007-08 and 2008-09) 18 hours in an International Project Finance seminar in English for the IBPM major/specialization Intellectual Contributions 2005 through 2010: Intellectual Contributions Refereed Journal Articles (AERES / CNRS Selection) Peer-Reviewed Journal Articles 6 Other Journal Articles 6 Conference Proceedings 2 Case Studies Scholarly Books Chapters in Scholarly Books Working Papers 2 Other Outlets 1 Total 17 Total Education : cf details above Academic Appointments. Guest lecturer/visiting Professor for ISC pursuant to the Erasmus faculty exchange system for a oneday conference about tax-efficient finance in early 2008 at the Mykolas Romeris University in Vilnius, Lithuania and in early 2009 at the Hogeschool University College in Gent, Belgium (both institutions are ISC s established international partners). Scientific Advisor ( Conseiller Scientifique ) on financial topics at ISC since (circa) 1999. As a reminder: Lecturer ( Maître de conference ) at SciencesPo-Paris, Centre d Etudes Supérieures Bancaires and Institut Technique de Banque in France in charge of courses on international finance between (circa) 1990 and 2000 Instructional Activities and Development Taught Courses outside ISC Paris since 2005

At the Sorbonne University in Paris (Paris-I), a semi-annual Structured Finance seminar (in French until year 2007-08, in English thereafter), in the Professional Master 2 majoring in Banking and Finance (ranked #1 of all such Masters in France in 2010 and 2011 based on the SMBG ranking system) Instructional Innovations. Development of a new pedagogical system of jeux de rôles / role model game in year 2008-09 for the MBA/FIF students in order to stimulate their oral ability to debate, to argue, to demonstrate and counter-demonstrate the pros and cons in the field of international tax-efficient finance structures. Development and execution of a new one-day Private Equity seminar for ISC Formation Permanente (Continuing Professional Education) designed for a large French banking institution. Development of a new graduate course: The aforementioned seminars for the 3 rd Year IBM major/ specialization and the MBA IBPM major/specialization at ISC were newly-created courses Professional Memberships and Certifications. Active member of two prominent Paris-based think tanks (with French and international members) involved in economic, social and geopolitical matters/ceps since 1997 and CDV since 2003. Management positions held in two smaller Paris-based think tanks involved in financial, tax and legal matters active in both until the early 2000s Service Institutional. Member of the examining board for the student graduation procedure ( soutenances ) every year at ISC both for the Grande Ecole/3 rd Year and MBA levels (assessment of research theses/ mémoires de recherche and professional theses/ thèses professionnelles respectively), since (circa) 1995. Member of the professional jurys/ jurys professionnels every year, ISC Grande Ecole/3 rd Year level since 2009. Member of the examining board at the Sorbonne University in Paris (Paris-I) for the admission of students in the Professional Master 2 majoring in Banking and Finance (ranked #1 of all such Masters in France in 2010 and 2011 based on the SMBG ranking system) Scientific Activities. Conducts 20 to 30 research theses and professional theses every year at ISC both for the Grande Ecole/3 rd Year and MBA levels. Participated in and chaired several workshops at the International Finance Conference (IFC) in March 2005, 2007, 2009 (IFC3, IFC4, IFC5) in Hammamet, Tunisia, with one paper presented in 2005 and another one in 2007 Intellectual Contributions Refereed Journal Articles (AERES / CNRS Selection) Peer-Reviewed Journal Articles

Cf Articles published in CRISC, EMEFIR and Intellectual Economics listed below Other Journal Articles 2004-2005 Partenariats Public-Privé: quelques pistes de réflexion, revue Défense, Paris, 2004 Five wrong considerations about the Euro, Eurofuture, Paris, 2004 For or against the World Trade Organization ten years later?, Eurofuture, Paris, 2004 Hard of soft landing? The need for an adjustment of US deficits, Eurofuture, Paris, 2005 Les nouvelles techniques de financements structurés au service d une gestion actif-passif optimisée, CRISC, Paris, 2005 2005-2006 New structured finance techniques for an optimized assets-liabilities management: a practical viewpoint and the Modigliani-Miller principle revisited empirically, EMEFIR, Paris, 2006 (a translation of the aforementioned article published in French in CRISC, Paris, 2005) A contribution/speech to a conference about the new Public-Private Partnerships in France which I chaired in Paris in March 2006 at the headoffice of the French Banking Association, published in Revue Banque, Paris, 2006 2006-2007 Governance, firm performance and economic growth: a survey of the main findings, with BELLALAH M., CRISC, Paris, 2006 Organisation matricielle dans la concentration bancaire et rigidités dans la dynamique des innovations financières: complémentarités entre grandes banques et boutiques indépendantes, EMEFIR, Paris, 2007 2007-2008 Spécialisation versus transversalité: les implications de l organisation matricielle des groupes bancaires pour la dynamique des innovations financières, CRISC, Paris, 2007 L évolution récente du financement mezzanine: de nouvelles applications, CRISC, Paris, 2008 2008-2009/2009-2010/2010-2011 The development of tax-efficient finance in the context of globalization: principles and categorization, opportunities and limitations, Intellectual Economics, Vilnius/Lithuania, 2008

Various and numerous contributions between 2009 and 2011 to the monthly newsletter and the blog of CDV, a Paris-based think tank (with French and international members) involved in economic, social and geopolitical matters, in French ( Le refinancement des Etats n est pas sans risque, January 2009; Euro: le frein statutaire éclatement ou consolidation de la zone euro?, February 2009; Le paradoxe du philosophe : entre vertige et raison, March 2009; L artiste et le trader: ni l origine sociale ni la formation ne sont déterminants, May 2009; La pandémie du dollar: vers un changement d étalon (monnaie)?, June 2009; Alerte sur l or: quo non ascendet? la ruée sur l or, signe de la défiance envers le dollar, December 2009; Crise financière: les maths ont bon dos ne pas confondre les causes et les effets, January 2010; De l or, encore? la perte de confiance booste l or, May 2010; La Chine fait ses emplettes dans le village global: des investissements chinois en hausse dans le monde, December 2010; Démocratie, caisses vides et ventres creux de la déception peut naître une nouvelle révolte, February 2011; etc.) cf Vigilances and www.clubdesvigilants.com Conference Proceedings Chaired two conferences in Paris about the new Public-Private Partnerships in France, one conference organized by Revue Banque at the headoffice of the French Banking Association in March 2006, title PPP: bilan et nouveaux défis, with a subsequent publication in Revue Banque (cf details above), and another one organized with lawyers of the French law firm Cabinet DE GAULLE FLEURANCE in the French Senate/Palais du Luxembourg in July 2006, title Partenariat Public Privé: comment maîtriser les étapes clés du succès d un contrat PPP Introduction speeches at both conferences Case Studies Scholarly Books Chapters in Scholarly Books Working Papers One paper about the new structured finance techniques and their implications in terms of optimized assets-liabilities management, presented at the aforementioned International Finance Conference in March 2005 (IFC3), in French ( Les nouvelles techniques de financements structurés au service d une gestion actif-passif optimisée le point de vue du praticien et le théorème de MODIGLIANI-MILLER revisité empiriquement à la lumière des innovations financières ), and another paper about the dynamics of financial innovations, presented there in March 2007 (IFC4), in French ( Spécialisation versus transversalité: les implications de l organisation matricielle des groupes bancaires pour la dynamique des innovations financières éléments de réflexions empiriques ) with subsequent publications of both papers (cf details above, in Intellectual Contributions/Other Journal Articles)

Other Outlets Member of the Reading Committee / Comité de Lecture of Finance Internationale, a book by Philippe d ARVISENET, Chief Economist of BNP PARIBAS bank, with an introduction by Michel PEBEREAU, Chairman of that bank, Dunod, Paris, 2008 Ranked #1 ( Prix d Excellence ) in the Dale Carnegie/France seminar on Leadership & Communication, Paris, 1 st semester 1997 Selected as Assistant-Coach in the Dale Carnegie/France seminar on Leadership & Communication, Paris, 2 nd semester 1997