Richard worked for Deutsche Bank, as chief economist for Jardine Fleming Securities (Asia) Ltd., as the first Shimomura Fellow at the Development Bank of Japan in Tokyo, and was a European Commission Doctoral Fellow at the University of Oxford. Richard established an investment advisory firm and has been advising top institutional investors worldwide since 1998. He also became a Senior Consultant at the Asian Development Bank, advising the Thai government in 1999 to end its IMF programme. From 2000 to 2003, Richard became a member of the Asset Allocation Committee of TelWel, a $6.2bn corporate pension fund belonging to the Nippon Telephone and Telegraph communications group. In 2006, Richard became Senior Managing Director and Senior Portfolio Manager at Bear Stearns Asset Management Ltd., establishing the Bear Stearns Global Alpha Fund in London. For more than a decade Richard was an active member of the ECB Shadow Council, and since 2010 he has been involved in the planning and establishment of community banks in the UK and other countries.
In 1991, when Japanese GDP growth was 7% and the top-10 banks in the world were all Japanese, Richard warned of the coming banking crisis and depression in Japan. In 1995 he proposed a new policy to end banking crises which he called ‘Quantitative Easing’. His book Princes of the Yen, on central banking, was a top bestseller in Japan in 2001. The 2003 English edition warned of the coming credit bubbles, banking crises and recessions. His 2005 book New Paradigm in Macroeconomics (Palgrave Macmillan) presents reality-based economics. His academic research is among the most downloaded scientific work in the world (see www.professorwerner.org). You can follow him on YouTube at Werner Economics and on Twitter @scientificecon and @professorwerner, as well as on Telegram.