Stefan Nagel Named an Independent Director of Dimensional’s US Mutual Funds and ETFs

The Board of Directors for Dimensional’s US mutual funds and ETFs has chosen Stefan Nagel to serve as a new Independent Director. Nagel is the Fama Family Distinguished Service Professor of Finance at the University of Chicago Booth School of Business, where his research focuses on asset pricing, investor behavior, and the formation of investor expectations. Effective September 1, he is helping to oversee Dimensional’s funds on behalf of investors. Nagel joins a long line of prominent academics who have served in that capacity.

“For more than four decades, investors in Dimensional’s funds have benefited from the insights and perspective of some of the best minds in economics and finance,” Co-CEO and Co-Chief Investment Officer Gerard O’Reilly said. “Four Nobel laureates have served as Independent Directors—Merton Miller, Myron Scholes, Bob Merton, and Doug Diamond. That tradition of intellectual rigor continues with the addition of Stefan.”

Prior to joining the Chicago Booth faculty, Nagel taught at the University of Michigan Ross School of Business, the Stanford Graduate School of Business, and in the Harvard University economics department. He received his PhD from the London Business School. Nagel has served in numerous leadership and advisory positions, including as executive editor of the Journal of Finance. He is a research associate at the National Bureau of Economic Research, a research fellow at the Centre for Economic Policy Research, and president-elect of the Western Finance Association. He is also a past recipient of the Smith Breeden Prize for the best research paper published in the Journal of Finance as well as the Fama-DFA Prize for the best asset-pricing paper published in the Journal of Financial Economics.

“Professor Nagel’s experience and expertise make him a strong addition to the funds board,” Co-CEO Dave Butler said. “He joins an incredible group of academic leaders who serve a critical role looking out for the interests of investors.”

Nagel takes the place of George M. Constantinides, who retired from the Board following four decades as an Independent Director. In addition to Nagel, Dimensional’s US funds board includes Independent Directors Reena Aggarwal of Georgetown University, Douglas W. Diamond of the University of Chicago, Darrell Duffie of Stanford University, Francis A. Longstaff of UCLA, Abbie J. Smith of the University of Chicago, Heather E. Tookes of Yale University, and Ingrid M. Werner of the Ohio State University. Dimensional’s Co-CEOs serve as Interested Directors on the US funds board and are not involved in selecting new Independent Directors.