Daniel Raff is Associate Professor, Management Department, The Wharton School. His recent consulting deals with competitive strategy in manufacturing and services (including financial services) and deal design. He has been a professor at Wharton since 1994. He has held previous appointments at Harvard University and Oxford University and visiting appointments at Columbia University Schools of Business and Law. He has served as Faculty Research Fellow and Research Associate at the National Bureau of Economic Research and as Sloan Senior Research Fellow at the Wharton Financial Institutions Center. He has also served as Trustee, Business History Conference, 1998-2001; Chair, Investment Committee, 2001-present; Chair, Audit and Budget Committee and Trustee ex officio, Economic History Association, 2001-present.