Sheila C. Bair served as Chairman of the Federal Deposit Insurance Corporation for a five-year term, from June 2006 through June 2011. She presided over one of the most tumultuous periods in the history of the nation’s banking system, working to bolster public confidence and financial system stability. She has been a leading advocate and innovator of policies to end the doctrine of too-big-to-fail and taxpayer bailouts.

Before joining the FDIC in 2006, Ms. Bair was the Dean's Professor of Financial Regulatory Policy for the Isenberg School of Management at the University of Massachusetts-Amherst since 2002. Other career experience includes serving as Assistant Secretary for Financial Institutions at the U.S. Department of the Treasury (2001 to 2002), Senior Vice President for Government Relations of the New York Stock Exchange (1995 to 2000), a Commissioner and Acting Chairman of the Commodity Futures Trading Commission (1991 to 1995), and Research Director, Deputy Counsel and Counsel to Senate Majority Leader Robert Dole (1981 to 1988).

Ms. Bair continues her work on financial policy issues as a Senior Advisor to the Pew Charitable Trusts, and as the Chairman of the Systemic Risk Council, a public interest group of prominent former government officials and financial experts which monitors progress on financial reform. She writes a regular column for Fortune Magazine and is the author of the book, Bull by the Horns: Fighting to Save Main Street from Wall Street, and Wall Street from Itself.

Prior to his appointment to the Board, Dr. Stein was the Moise Y. Safra Professor of Economics at Harvard University, where he taught courses in finance in the undergraduate and Ph.D. programs. From February to July 2009, Dr. Stein served in the Obama administration as a senior adviser to the Secretary of the Treasury and on the staff of the National Economic Council.

Before joining the Harvard faculty in 2000, Dr. Stein taught finance at the Massachusetts Institute of Technology's Sloan School of Management. Prior to joining the MIT faculty, Dr. Stein was an assistant professor of finance at the Harvard Business School from 1987 to 1990.

Dr. Stein's research has covered many topics, including behavioral finance and stock-market efficiency, corporate investment and financing decisions, risk management, capital allocation inside firms, banking, financial regulation, and monetary policy. He has served as a co-editor of the Quarterly Journal of Economics, and before that, as a co-editor of the Journal of Economic Perspectives.

Dr. Stein is a fellow of the American Academy of Arts and Sciences. Before joining the Board, he was a research associate at the National Bureau of Economic Research, and a member of the Federal Reserve Bank of New York's Financial Advisory Roundtable. In 2008, he was president of the American Finance Association.

He was born in October 1960 in Chicago, Illinois. He received his A.B. in economics from Princeton University (summa cum laude) in 1983 and his Ph.D. in economics from the Massachusetts Institute of Technology in 1986.

Dr. Stein is married with 3 children.

Jean Tirole is chairman of the Foundation JJ Laffont-Toulouse School of Economics (TSE), and scientific director of the Institute for Industrial Economics (IDEI). He is also affiliated with MIT, where he holds a visiting position, with the Institute for Advanced Study in Toulouse (IAST, which he helped found in 2011) and with EHESS, and is a member of the French Académie des Sciences Morales et Politiques. Before moving to Toulouse in 1991, he was professor of economics at MIT. He was president of the Econometric Society in 1998 and of the European Economic Association in 2001.

He holds Honorary Doctorate degrees from the Free University in Brussels, the London Business School, HEC Montreal, the University of Mannheim, the Athens School of Business and Economics and the University of Rome. He received the Yrjö Jahnsson prize of the European Economic Association in 1993, the gold medal of the CNRS in 2007, and was the inaugural winner of the BBVA Frontiers of Knowledge Awards in economics, finance and management in 2008.

He has received the CME-MSRI award, the Ross prize and the Levi-Strauss prize. He is a foreign honorary member of the American Academy of Arts and Sciences (1993) and of the American Economic Association (1993).

Sir John Vickers has been Warden of All Souls College, Oxford, since October 2008. He studied at Oxford University, where, after a period working in the oil industry, he taught economics and was Drummond Professor of Political Economy from 1991 to 2008. He was Chief Economist at the Bank of England and a member of the Monetary Policy Committee 1998-2000; Director General/Chairman of the Office of Fair Trading 2000-05; President of the Royal Economic Society 2007-10; and Chairman of the Independent Commission on Banking 2010-11.