Diana Farrell
Encyclopedia
Diana Farrell was a member and one of two Deputy Directors of the United States National Economic Council (NEC) in the administration of President
Barack Obama
. She was also a member of the Presidential Task Force on the Auto Industry
. On November 22, 2010, Farrell announced that she would be leaving the administration by the end of the year. Lawrence Summers
, then the Director of the NEC, who had previously announced that he would return at the end of the year to Harvard University, noted that Farrell had "played a central role" in the efforts of the administration to encourage economic growth, restructure the auto industry, and respond to the housing crisis. Summers further stated: "Her natural talent as a policy maker and her good judgment made her invaluable in setting a course for economic recovery."
Farrell most recently served as the Director of the McKinsey Global Institute (MGI), McKinsey & Company's economics research arm. Farrell's work has appeared in academic journals, books, and on the op–ed pages of leading international publications, and she is a frequent speaker at major U.S. and global conferences. She is the editor of an anthology series based on MGI research, published by Harvard Business Press
, 2007. Together with Lowell Bryan, she is the co-author of Market Unbound, published by John Wiley & Sons
, 1996. Farrell was previously a leader of McKinsey's Global Financial Institutions and Global Strategy practices. Prior to joining McKinsey, she worked for Goldman Sachs
in New York. Farrell has a B.A. from Wesleyan University
in Economics (College of Social Studies) and an M.B.A. from Harvard Business School
. Farrell is a member of Council on Foreign Relations
, the Bretton Woods Committee, and the Pacific Council on International Policy
. She is married with two children.
In 2003, Farrell was the author of a paper in which she argued that sending American jobs overseas might be "as beneficial to the U.S. as to the destination country, probably more so."
In a video for the McKinsey Global Institute, where she formerly served as a director, Farrell describes four "newly powerful" brokers. One of these is "Asian economies which are...generating significant surpluses."
Farrell is a supporter of regulation of large banks. In an interview with National Public Radio, she stated: "We have created them, and we're sort of past that point, and I think that in some sense, the genie's out of the bottle and what we need to do is to manage them and to oversee them, as opposed to hark back to a time that we're unlikely to ever come back to or want to come back to."
President of the United States
The President of the United States of America is the head of state and head of government of the United States. The president leads the executive branch of the federal government and is the commander-in-chief of the United States Armed Forces....
Barack Obama
Barack Obama
Barack Hussein Obama II is the 44th and current President of the United States. He is the first African American to hold the office. Obama previously served as a United States Senator from Illinois, from January 2005 until he resigned following his victory in the 2008 presidential election.Born in...
. She was also a member of the Presidential Task Force on the Auto Industry
Presidential Task Force on the Auto Industry
The Presidential Task Force on the Auto Industry is an ad hoc group of United States cabinet-level and other officials that was formed to deal with the financial bail out of automakers Chrysler Corporation and General Motors....
. On November 22, 2010, Farrell announced that she would be leaving the administration by the end of the year. Lawrence Summers
Lawrence Summers
Lawrence Henry Summers is an American economist. He served as the 71st United States Secretary of the Treasury from 1999 to 2001 under President Bill Clinton. He was Director of the White House United States National Economic Council for President Barack Obama until November 2010.Summers is the...
, then the Director of the NEC, who had previously announced that he would return at the end of the year to Harvard University, noted that Farrell had "played a central role" in the efforts of the administration to encourage economic growth, restructure the auto industry, and respond to the housing crisis. Summers further stated: "Her natural talent as a policy maker and her good judgment made her invaluable in setting a course for economic recovery."
Farrell most recently served as the Director of the McKinsey Global Institute (MGI), McKinsey & Company's economics research arm. Farrell's work has appeared in academic journals, books, and on the op–ed pages of leading international publications, and she is a frequent speaker at major U.S. and global conferences. She is the editor of an anthology series based on MGI research, published by Harvard Business Press
Harvard Business Press
Harvard Business Press is the book-specific division of Harvard Business School Publishing, owned by the Harvard Business School, based in Boston, MA.The Press publishes general interest books in addition to business books...
, 2007. Together with Lowell Bryan, she is the co-author of Market Unbound, published by John Wiley & Sons
John Wiley & Sons
John Wiley & Sons, Inc., also referred to as Wiley, is a global publishing company that specializes in academic publishing and markets its products to professionals and consumers, students and instructors in higher education, and researchers and practitioners in scientific, technical, medical, and...
, 1996. Farrell was previously a leader of McKinsey's Global Financial Institutions and Global Strategy practices. Prior to joining McKinsey, she worked for Goldman Sachs
Goldman Sachs
The Goldman Sachs Group, Inc. is an American multinational bulge bracket investment banking and securities firm that engages in global investment banking, securities, investment management, and other financial services primarily with institutional clients...
in New York. Farrell has a B.A. from Wesleyan University
Wesleyan University
Wesleyan University is a private liberal arts college founded in 1831 and located in Middletown, Connecticut. According to the Carnegie Foundation for the Advancement of Teaching, Wesleyan is the only Baccalaureate College in the nation that emphasizes undergraduate instruction in the arts and...
in Economics (College of Social Studies) and an M.B.A. from Harvard Business School
Harvard Business School
Harvard Business School is the graduate business school of Harvard University in Boston, Massachusetts, United States and is widely recognized as one of the top business schools in the world. The school offers the world's largest full-time MBA program, doctoral programs, and many executive...
. Farrell is a member of Council on Foreign Relations
Council on Foreign Relations
The Council on Foreign Relations is an American nonprofit nonpartisan membership organization, publisher, and think tank specializing in U.S. foreign policy and international affairs...
, the Bretton Woods Committee, and the Pacific Council on International Policy
Pacific Council on International Policy
The Pacific Council on International Policy is a non-partisan organization headquartered in Los Angeles with members and activities throughout the West Coast of the United States and internationally....
. She is married with two children.
In 2003, Farrell was the author of a paper in which she argued that sending American jobs overseas might be "as beneficial to the U.S. as to the destination country, probably more so."
In a video for the McKinsey Global Institute, where she formerly served as a director, Farrell describes four "newly powerful" brokers. One of these is "Asian economies which are...generating significant surpluses."
Farrell is a supporter of regulation of large banks. In an interview with National Public Radio, she stated: "We have created them, and we're sort of past that point, and I think that in some sense, the genie's out of the bottle and what we need to do is to manage them and to oversee them, as opposed to hark back to a time that we're unlikely to ever come back to or want to come back to."
External links
- Biography at McKinsey & CompanyMcKinsey & CompanyMcKinsey & Company, Inc. is a global management consulting firm that focuses on solving issues of concern to senior management. McKinsey serves as an adviser to many businesses, governments, and institutions...
, World Economic ForumWorld Economic ForumThe World Economic Forum is a Swiss non-profit foundation, based in Cologny, Geneva, best known for its annual meeting in Davos, a mountain resort in Graubünden, in the eastern Alps region of Switzerland....
2005 - Author info at Bloomberg Businessweek
- Biography at UN.orgUnited NationsThe United Nations is an international organization whose stated aims are facilitating cooperation in international law, international security, economic development, social progress, human rights, and achievement of world peace...