Michael J. Brennan, the Goldyne and Irwin Hearsh Chair in Money and Banking at UCLA's Anderson Graduate School of Management, was elected to the NBER's Board of Directors this spring to represent the University of California, Los Angeles. Brennan is a professor of finance at both the Anderson School and the London Business School. He holds a Ph.D. in business from MIT, an M.B.A. from the University of Pittsburgh, and Bachelor of Arts and Bachelor of Philosophy degrees from Oxford University.
Brennan taught at the University of British Columbia from 1970 to 1986, rising through the ranks from assistant professor to the Albert E. Hall Professor of Finance in 1979. In 1986 Brennan joined the Anderson School faculty. His research interests include asset pricing and the role of information in financial markets, dynamic portfolio theory, and market microstructure.
A former president of the American Finance Association, the Society for Financial Studies, and the Western Finance Association, Brennan has served as editor of the Journal of Finance and was the founding editor of the Review of Financial Studies. He has consulted extensively for corporations in Canada and the United States is a director of Smith Breeden Associates and of the Real Options Group.
Brennan is married to Patricia Hughes who is a professor of accounting at UCLA. They have three grown children and two grandchildren. His hobbies include biking, gardening, and reading, and making breakfast for the homeless in Santa Monica.