Dr. Leonard Mills

Dr. Mills has over 20 years of experience in leading and developing quantitative research applied to portfolio management. Dr. Mills was Head of Portfolio Analytics and Research at Fannie Mae. This group was responsible for the quantitatively-driven mortgage investment and hedging strategies for the company's on-balance sheet portfolio. The proprietary research and analytics tools developed by this group governed mortgage and other investment acquisitions, funding and hedging by the treasurer, and portfolio strategies. During Dr. Mills' tenure, the retained portfolio grew from $200 billion to over $1 trillion with an increasing array of investments and strategies. He also served on the portfolio investment and capital allocation committees. Prior to Fannie Mae, Dr. Mills was a senior economist at the Philadelphia Federal Reserve in the macroeconomics group, engaged in academic and public policy research. After Fannie Mae, he was Founder of PI Analytics, a consulting firm advising residential and commercial mortgage portfolios and equity real estate investors. Clients included hedge funds, investment banks, and real estate asset managers in the US and UK. Len also served as a director at Property and Portfolio Research. Dr. Mills has enjoyed adjunct positions at Wharton (Penn), University of Maryland, and Johns Hopkins throughout his career. He has a Ph.D. in Econometrics from Tulane University and is a Chartered Financial Analyst.