Degrees: MBA, 1986, Hofstra Univ; BS, 1979, Syracuse Univ

Bio:

Ms. Bales holds a B.S. magna cum laude from Syracuse University and an M.B.A. in finance (with distinction) from Hofstra University, where she was elected to Beta Gamma Sigma.

Before joining the Hofstra University faculty, Ms. Bales was a senior research analyst in the bond market research department of Salomon Brothers, Inc. For more than eight years she authored extensive research reports on the domestic and international bond, money and foreign exchange markets that were distributed to institutional investors worldwide. Her areas of expertise include floating-rate instruments, interest rate swaps, Eurodollar bonds and medium-term notes. Ms. Bales has also contributed articles to the following books published on the financial markets: The Handbook of International Investing, Inside the Swap Market, The Library of Investment Banking and Interest Rate Swaps.

While at Salomon Brothers she also completed its sales and trading training program, a comprehensive six-month program on all aspects of the securities industry, and became a licensed securities representative.

Currently Ms. Bales is a consultant in the global fixed-income research department at Merrill Lynch in Manhattan. She has been a regular contributor to its biweekly publication Currency & Bond Market Trends, focusing on credit spreads throughout the global bond market. Other research projects at Merrill Lynch include an analysis of the global interest rate swap market, the size and structure of the world bond market, and global debt holdings.

Presently Ms. Bales serves as the faculty adviser for the Financial Management Association and as internship coordinator for the Finance Department. In December 1994 she was the recipient of the Golden Key Award, a national recognition for excellence in teaching.