Our Team

                                                                                                                                                                                    Partial list of our Team

H. Gifford Fong, President

H. Gifford Fong is President of Gifford Fong Associates, a firm specializing in fixed income, derivative product and asset allocation analysis. Independent valuation, model validation and portfolio strategy analysis are areas of emphasis. He is a graduate of the University of California where he earned his B.S., M.B.A. and J.D. (law).

Mr. Fong is the editor of the Journal Of Investment Management (JOIM); founder of the JOIM Conference Series; member of the Corporation Visiting Committee for the MIT Sloan School of Management; member of the North American Executive Board of the MIT Sloan School; member of the Advisory Board of the Finance Faculty of the MIT Sloan School; founding sponsor, member of the Steering Committee of the Masters in Financial Engineering Program at the University of California at Berkeley; member, Haas Hall of Fame, Haas School of Business, University of California at Berkeley; member of the of the Academic Advisory Board of the Consortium for Systemic Risk Analytics; member of Advisory Board of the MIT Center for Finance and Policy; former member of the Advisory Board of Trustees, University of California, Berkeley Foundation; former editor of the Financial Analysts Journal; former member of the Board of Directors and Program Chairman of the Institute for Quantitative Research in Finance; former member of the Advisory Group of the University of California Regents Committee on Investments; former Vice Chair and member of the Research Committee of the Research Foundation of the CFA Institute and a contributor to a number of professional books and journals.

In addition, Mr. Fong is co-author of "Fixed-Income Portfolio Management," a book published by Dow Jones-Irwin, co-author of "Advanced Fixed Income Portfolio Management, The State of the Art," a book published by Probus Publishing, editor of “The Credit Market Handbook: Advanced Modeling Issues,” a book published by Wiley Finance, editor of “The World of Hedge Funds: Characteristics and Analysis” and “The World of Risk Management,” books published by World Scientific. He is also the author of numerous professional journal publications. Mr. Fong has received a number of honors, including the Institute for Quantitative Research in Finance Award and the Financial Analysts Journal Graham and Dodd Award of Excellence. He also is on a number of boards of directors of non-related companies and non-profit institutions.


Steven Fong, Chief Financial Officer

Steven Fong serves Chief Financial Officer at Gifford Fong Associates (GFA). Since joining GFA in 2017, his responsibilities include overall management and coordination of departments and resources. Prior to GFA, he has held senior level finance positions at Visa USA, Fisher Investments, and Goodwill Industries of San Francisco, focusing on budgeting, financial modeling, and strategic planning activities.

Mr. Fong holds a BS from the U.C. Berkeley Haas School of Business with an emphasis in Finance and an MBA from the Sloan School of Management at the Massachusetts Institute of Technology.


Sanjiv Das, Senior Research Consultant

Sanjiv Das serves as Senior Research Consultant at Gifford Fong Associates, (GFA).

Sanjiv Das is the William and Janice Terry Professor of Finance at Santa Clara University's Leavey School of Business. He previously held faculty appointments as Associate Professor at Harvard Business School and UC Berkeley. He holds post-graduate degrees in Finance (M.Phil and Ph.D. from New York University), Computer Science (M.S. from UC Berkeley), an MBA from the Indian Institute of Management, Ahmedabad, B.Com in Accounting and Economics (University of Bombay, Sydenham College), and is also a qualified Cost and Works Accountant.

He is a senior editor of The Journal of Investment Management (JOIM), co-editor of The Journal of Derivatives, and Associate Editor of other academic journals. Prior to being an academic, he worked in the derivatives business in the Asia-Pacific region as a Vice-President at Citibank. He currently also serves as a Senior Fellow at the FDIC Center for Financial Research.

Annie Pan, Financial Engineer

Annie Pan serves as a Financial Engineer at Gifford Fong Associates, (GFA).  Ms. Pan current responsibilities at GFA are the development and maintenance of valuation infrastructure, pricing fixed income derivative and structured product. She also contributes to portfolio performance and risk analysis.

She holds a B.S. in Applied Mathematics and Economics from the University of California Berkeley and Master of Financial Engineering from U.C. Berkeley Hass School of Business.

Jessie Zhang, Director of Valuation Services

Jessie Zhang is Director of Valuation Services at Gifford Fong Associates. Her responsibilities include serving as the technical lead of Valuation services, special client projects, and pricing of very complex structured products. Before joining GFA in 2004, she has been involved in design and implementation of a variety of enterprise software projects at TradeBeam, Carnegie Institution, Versata, Sybase and CA Technologies.

Jessie is a graduate of the Certified Financial Engineering Program at the Haas School of Business, University of California Berkeley. She holds MS degree in computer science from Pennsylvania State University, and BS degree in Electronic Engineering & Information Science from the University of Science and Technology of China.