COMMODITIES TRADING EXPERT TO HEAD IIT PROGRAM

Michael Gorham, director of market oversight at the U.S. Commodity Futures Trading Commission (CFTC) in Washington D.C., has been named director of the Center for Financial Markets at the Stuart Graduate School of Business at Illinois Institute of Technology (IIT), ranked among the nation’s top financial markets graduate programs in the country. Gorham’s appointment is effective July 15, 2004.

Gorham brings more than 25 years experience in a wide variety of domestic and international leadership roles in financial markets, commodities and futures trading. At the CFTC he was the first director named for market oversight for the nation’s 12 futures exchanges. His division has responsibility for the designation of new exchanges, the review of new futures and options products and the protection of markets from manipulation and customer abuse.

The appointment marks Gorham’s return to Chicago and IIT. From 1998-2002, he served as director of research and international development in what was previously called IIT’s Center for Law and Financial Markets, where he taught graduate level courses in financial markets. He also served as an international consultant and trainer in financial markets and derivatives, working with exchanges, regulators and firms in the U.S., Asia, the Middle East and Latin America.

“It’s a tremendous opportunity for me to come back to Chicago and lead this vital program at IIT,” said Gorham. “This is an exciting time in the markets, with exotic new products, a dramatic increase in competition and a continuing shift to electronic trading. The Center for Financial Markets is clearly a leader in this arena and I want to significantly enhance the value we provide to the global financial industry.”

IIT’s Center for Financial Markets first introduced the Master of Science degree in financial markets in 1992. It is the nation's oldest and most prestigious graduate degree program focusing exclusively on modern capital markets and was recently named among the top 15 graduate financial markets programs nationwide by Global Derivatives magazine.

The Center for Financial Markets was originally created by John A. Wing, former chairman of Chicago Corporation and its successor organization, ABN AMRO Inc., to provide an education grounded in both theory and practice. The IIT program provides an intellectual framework for understanding how financial markets are structured, regulated and interconnected in this country and around the world.

“Mike brings invaluable industry insight to IIT’s finance and financial markets curricula,” said Pamela Reardon, IIT’s Vice Provost for Academic Program Development. “We are delighted to have Mike lead the Center’s distinguished team and look forward to an expanded set of program specializations designed to meet the demands of today’s competitive global marketplace.”

Gorham earned his bachelor’s degree from the University of Notre Dame. He holds a master’s degree in food and resource economics from the University of Florida and a Ph.D. in agricultural economics from the University of Wisconsin.

Gorham spent more than 20 years at two key U.S. financial institutions: the Federal Reserve Bank of San Francisco and the Chicago Mercantile Exchange (CME). He served for four years as a research economist at the Fed, where he wrote papers on such issues as the economics and politics of ocean mining, alternative approaches to Japanese food security and the effect of U.S. government announcements on commodity prices.

In his 18 years at the CME, he served in a variety of capacities, including vice president in the areas of product development, commodity marketing, education and international marketing. At the CME he was also involved with the creation of a comprehensive ethics training program and the creation and marketing of a high profile emerging markets initiative. He frequently represented the Exchange to domestic and foreign media and to foreign governments.

Gorham has written more than 50 articles for newspapers, journals and magazines in Argentina, China, Japan, Mexico and the U.S. on a wide range of business and financial issues. He has consulted on market projects in Cairo, Bombay, Beijing, Abu Dhabi, Parma and Bogotá. He has also served on a number of nonprofit boards, most recently as Chairman of the United States/Mexico Chamber of Commerce Mid-America Chapter and as Treasurer of the Center for International Performance and Exhibition. During the late 1960s he was a Peace Corps volunteer working on an agricultural modernization project in Malawi, Africa.

About Illinois Institute of Technology

Illinois Institute of Technology, also known as Illinois Tech, is a private, technology-focused, research university offering undergraduate and graduate degrees in engineering, science, architecture, business, design, human sciences, applied technology, and law. One of 16 institutions that comprise the Association of Independent Technological Universities (AITU), Illinois Tech offers exceptional preparation for professions that require technological sophistication, an innovative mindset, and an entrepreneurial spirit.