Alan Greenspan, the former five-term chairman of the Federal Reserve, has joined investment management firm Advisors Capital Management as economic adviser.
Greenspan will provide economic and market valuation analysis to “support the firm’s top-down investment approach to selecting sectors in the economy for investment,” according to a press release.
“I am very excited to resume working with one of the towering members of the economics profession,” Charles Lieberman, ACM’s cofounder and chief investment officer, who is a former Wall& Street and Federal Reserve economist, said in the release. “I am now pleased we can bring the benefit of his insight to our investment clients.”
Greenspan served as chairman of the Board of Governors of the Federal Reserve from 1987 to 2006. He presided as chairman during several major global economic events, including two US recessions, the Asian financial crisis of 1997, the collapse of Long Term Capital Management and the Russian default in 1998, and the 9/11 terrorist attacks.
Since leaving the Fed, he started an economic consulting firm, Greenspan Associates. He was hired by Pimco in 2007 to participate in its quarterly economic forums and speak with bond managers about Fed interest rate policy, and then by Deutsche Bank, where he served as a senior adviser to its investment banking team and clients. He has also been an adviser to the hedge fund Paulson & Co.