Lea V. Carty

Managing Director -- POINT Marketing
Lehman Brothers
745 Seventh Ave., 6th floor
New York, NY  10019;  USA

• Columbia University, Ph. D. (Economics) (1997)
• Lea is a member of Lehman Brothers' Portfolio and Index Tool (POINT) team which is housed within Lehman Brothers' broader fixed income research group. POINT is a fixed income portfolio risk analysis platform incorporating fixed income valuation analytics, multi-factor risk models, optimization routines, return attribution, indexes, and securities pricing.  Previously, Dr. Carty had been with Moody's where he lead the development and commercialization of Moody's risk management capabilities through a separately managed subsidiary, Moody's Risk Management Services, which acquired KMV in 2002 which became Moody'sKMV. Prior to joining Moody's, Dr. Carty worked at Bear, Stearns, and Company, Inc., New York, and Thomson-CGR (now General Electric, CGR), Paris.
• Dr. Carty holds a B.A. in Mathematics and French from Washington University in St. Louis, an M.A. in Mathematics from the University of Colorado, and a Ph.D. in Economics from Columbia University. Dr. Carty's corporate finance dissertation was awarded distinction. He has published research in the areas of credit risk, economic history and market structure, in academic journals, professional journals, and books.

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Publications: that are posted on DefaultRisk.com & MoodysKMV.com

Credit Correlation

Carty, Lea V., " Corporate Credit-Risk Dynamics", Financial Analysts Journal, Vol. 56, No. 4, (July/August 2000), pp. 67-81.

Carty, Lea V., "Credit Risk and Credit Quality Correlation: What Can We Measure?", Journal of Lending & Credit Risk Management, Vol. 80, No. 6, (February 1998), pp. 40-42.

Recovery Rates