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Wayne Angell  

After retiring on January 18, 2002, as chief economist and senior managing director of Bear Stearns.

  Wayne Angell initiated a new business adventure, Angell Economics.  Economic and monetary policy forecasting is the heart of a business that includes taking positions in interest rate, bond market, equity market and currency futures as well as advice to clients. 

From February 7, 1986 to February 9, 1994, Dr. Angell served as a member of the board of governors of the Federal Reserve System.  He served as chair of the board’s committee on Federal Reserve Bank Activities and as chair of the G-10 committee on Payment and Settlement Systems, Basle, Switzerland.

In April 1994, two months after serving to the end of his term as a member of the board of governors, Wayne Angell was invited to join Bear Stearns as their chief economist with overall responsibility for the economics research department.  Although his primary focus was to provide insight regarding both monetary policy and its economic effects for the United States and global economy, he frequently spoke with institutional investors.  Dr. Angell not only advised clients all around the globe but frequently provided advice and recommendations to the Bank of Japan, the Peoples Bank of China, the Monetary Authority of Singapore, the Monetary Authority of Hong Kong, the Bank of Korea and the Bank of the Philippines.

Mr. Angell was born June 28, 1930, in Liberal, Kansas.  He received his BA from Ottawa University in Ottawa, Kansas in 1952, and a MA in 1953 from the University of Kansas.  After completing the coursework for a Ph.D., he began a two-year period as a full-time instructor in economics at the University of Kansas.  In 1957 he completed his dissertation, “The History of Commercial Banking in Kansas, 1854-1954.” to fulfill the final requirement for a Ph.D. in economics.

In 1956, Dr. Angell began an extended career at Ottawa University as an Assistant Professor of Economics.  He was promoted to full professor in 1959.  He served as Department Chair, Division Chair and, from 1969 to 1972, as Dean of the College.  After a three month sabbatical trip to India, Nepal, Burma, Thailand, Philippines, Hong Kong, and Japan, he returned to classroom teaching from 1975 to 1985.  He continued to broaden his economic interests by completing two terms as a director of the Federal Reserve Bank of Kansas City, and by two more around the world study visits to South East Asia, with focus on India, China and Malaysia.  He also added new direct business experience as a bank officer and director, as well as consulting with banks and thrifts in Missouri, Kansas, and Colorado.  During this period, Mr. Angell concentrated his attention on the increasingly complex task of managing interest rate and prepayment risk.  He had significant responsibility for the development of a dynamic hedging strategy and evaluating alternate strategies such as interest rate and prepayment forecasting.

Three years after beginning his professional career at Ottawa University, Angell became a candidate for the Kansas State House of Representatives.  He won a closely contested race in the republican primary and then won in the general election in November 1960.  He secured a coveted seat on the appropriation committee as a freshman legislator and one year later became a subcommittee chair.  He was reelected in 1962 and 1964, chaired the Water Resources Committee and the Economic Development Committee while continuing his appropriations committee assignments.  He was an active republican serving in many capacities in the Kansas Republican Party.

From 195l to 1985 Mr. Angell was a partner in a farming operation with his brother Charlie Angell.  Their farm acreage was expanded from 1100 acres in 1951 to 3300 acres in the 1970s.  Their developing banking and legislative interests were more efficiently managed by using a high-performance single engine airplane to cover all the bases.  Wayne Angell received his private pilot license in 1951.

Dr. Angell has been the recipient of numerous honors and awards including Phi Beta Kappa from the University of Kansas in 1953, Who’s Who in America, Honorary Doctor of Humane Letters from Ottawa University in 1992, Distinguished Kansas of the Year of the Native Sons and Daughters in 1987, and Distinguished Service Award from the Alumni Association of Ottawa University in 1980.

Wayne and Betty Angell reside in Arlington, Virginia.  They have four children and nine grandchildren.

He remains very active with various physical activities of biking, walking, skiing, tennis, and hiking 14,000-foot mountains in Colorado.

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