Charles D. Ellis is a consultant to large institutional investors. For thirty years he was managing partner of Greenwich Associates, an international business strategy consulting firm he founded that serves virtually all the leading financial service organizations around the world. Mr. Ellis earned his M.B.A. from Harvard University and his Ph.D. from New York University. He has taught investment management courses at Harvard and Yale, is the author of eleven books, mostly on investing, and has written nearly 100 articles for business and professional magazines. Mr. Ellis has served on the boards of Harvard Business School and Phillips Exeter Academy. He is currently a trustee of the Whitehead Institute for Biomedical Research, an overseer of the Stern School of Business at New York University, and a director of Vanguard and several small firms. He was elected Successor Fellow in 1997.