Dr. Demissew Ejara
Thursday, March 27, 2014 at 2:00 p.m. in the Marvin K. Peterson Library, upper level
Private banking encompasses banking and related services provided to high net worth individuals. These other services include confidentiality, family office, introductions and connections and access to special investment opportunities. The core of private banking is confidentiality, especially if wealth is acquired by illegitimate means.
When individuals hide their wealth through the private banking services, they commit legal offenses ranging from tax evasion to embezzlement. These acts cause loss of revenue by governments, loss of investable funds by the public, and instability in economic systems. These effects are severe on emerging market economies than in developed economies. The paper presents some cases of the impacts of private banking and recommends policy actions.
Demissew Diro Ejara is associate professor of finance and director of the Bergami Learning Center for Finance and Technology (LCFT) at the College of Business. He has been teaching a variety of finance courses at both graduate and undergraduate levels at the University of New Haven since 2006. He published research papers on different finance topics such as American Depositary Receipts, Initial Public Offerings, Municipal Bonds, Corporate Bonds, stock repurchases, etc.
His papers are published in journals such as The Financial Review, Journal of Corporate Finance, Journal of Banking and Finance, Journal of Multinational Financial Management and Applied Financial Economics. Prior to joining the University of New Haven, Dr. Ejara held faculty positions at the University of Massachusetts Boston and William Paterson University of New Jersey.
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