Bloomberg the Company & Products

Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us

Yellen Spouse Akerlof Resigns From UBS-Funded Center in Zurich

Don't Miss Out —
Follow us on:

Feb. 14 (Bloomberg) -- George Akerlof, a Nobel Prize-winning economist and the spouse of Federal Reserve Chair Janet Yellen, resigned an unpaid advisory position with a University of Zurich center funded by UBS AG, saying he wants to avoid an appearance of conflict of interest.

“My service on this board is wholly academic in nature and is uncompensated,” Akerlof said today in an e-mail. “There is no actual conflict of interest. However, to avoid even the appearance of a conflict, I have stepped down from the academic advisory board.”

The university’s UBS International Center of Economics in Society removed Akerlof’s name from its website after a Wall Street Journal article quoted some experts as saying his unpaid advisory board seat may pose an appearance of conflicting interests.

Samuel Brandner, a UBS spokesman, said the Zurich-based firm is “not involved with the advisory board or the running of the center and, as such, have no comment.” Michelle Smith, a Fed Board spokeswoman in Washington, declined to comment.

Ernst Fehr, a professor of economics at the university and the center’s director, didn’t respond to an e-mail requesting comment.

Akerlof is a professor of economics at the University of California at Berkeley and a visiting scholar at the International Monetary Fund in Washington.

To contact the reporter on this story: Jeff Kearns in Washington at jkearns3@bloomberg.net

To contact the editor responsible for this story: Chris Wellisz at cwellisz@bloomberg.net

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.