Byron Georgiou
Encyclopedia
Byron Stephen Georgiou is a financial lawyer, and an investor. In 2009, Georgiou was appointed by United States Senate
Majority Leader Harry Reid
to the Financial Crisis Inquiry Commission
(FCIC).
s via the California Agricultural Labor Relations Board
in the late 1970s and as a counselor to then-California
Gov. Jerry Brown
in the early 1980s before going into private law practice in San Diego 1983-1994.
Georgiou is currently “of counsel” with the law firm Coughlin Stoia Geller Rudman and Robbins
LLP. and related San Diego firm Robbins Geller Rudman & Dowd LLP. He "helped lead a team of 30 lawyers to recover $7.5 billion for investors bilked in the Enron fiasco." With Coughlin Stoia and Robbins Geller since 2000, he has had a "leadership role" in the litigations prosecuting financial fraud on behalf of defrauded investors at Enron, WorldCom, Dynegy
, AOLTimeWarner
, and UnitedHealth.
Georgiou is currently president of Georgiou Enterprises, which has wide ranging interests including partnerships in several private equity firms; a portfolio of carbon emission reduction projects
in China
that generate carbon credits under the Kyoto protocol
; environmental cleanup of deep coal mining
sites; residential and commercial real estate and golf course
management and development; and the provision of customer services at regional shopping centers
throughout America.
He serves on the advisory board of Harvard Law’s corporate governance
program and contributes to its blog.
.
(R) retires.
On August 8, 2011, Georgiou officially ended his campaign. In a brief statement, he said he "can more effectively contribute to resolution of the serious economic issues facing our state and nation" through his work in the private sector than the Senate.
and Sen. Bob Graham
, (D-FL
).
At the time of Georgiou's appointment to the FCIC, concerns were raised about conflict of interest
question, pointing to Coughlin Stoia lawsuits against big Wall Street
firms. A report at the time said Georgiou had no equity in the firm and no financial stake in the lawsuits. Lucian Bebchuk
, who runs the Harvard Law corporate governance program and consulted with Georgiou on the financial-fraud issues, said Georgiou brought "a rich experience and broad perspective" to the commission assignment, at the same time.
In the opening FCIC session in September, 2009, "Commissioner Georgiou highlighted the importance of untangling the 'too big to fail
' phenomenon. He also emphasized that the Commission should probe the role played by financial instruments and policies which allowed the creators of securities to abandon responsibility for the ultimate performance or failure of assets."
since 2005. He and his wife, Dr. Thérèse Collins, have two daughters.
United States Senate
The United States Senate is the upper house of the bicameral legislature of the United States, and together with the United States House of Representatives comprises the United States Congress. The composition and powers of the Senate are established in Article One of the U.S. Constitution. Each...
Majority Leader Harry Reid
Harry Reid
Harry Mason Reid is the senior United States Senator from Nevada, serving since 1987. A member of the Democratic Party, he has been the Senate Majority Leader since January 2007, having previously served as Minority Leader and Minority and Majority Whip.Previously, Reid was a member of the U.S...
to the Financial Crisis Inquiry Commission
Financial Crisis Inquiry Commission
The Commission reported its findings in January 2011. It concluded that "the crisis was avoidable and was caused by: Widespread failures in financial regulation, including the Federal Reserve’s failure to stem the...
(FCIC).
Education
Mr. Georgiou received his undergraduate degree with Great Distinction from Stanford University in 1970, attending on a full Alfred P. Sloan academic scholarship, and his Juris Doctor degree Magna Cum Laude in 1974 from Harvard Law School.Career
Georgiou spent time working on behalf of farmworkerFarmworker
A farmworker is a person hired to work in the agricultural industry. This includes work on farms of all sizes, from small, family-run businesses to large industrial agriculture operations...
s via the California Agricultural Labor Relations Board
California Agricultural Labor Relations Act
The California Agricultural Labor Relations Act is a landmark statute enacted by the state of California which became law on June 5, 1975, and which establishes collective bargaining for farmworkers in that state....
in the late 1970s and as a counselor to then-California
California
California is a state located on the West Coast of the United States. It is by far the most populous U.S. state, and the third-largest by land area...
Gov. Jerry Brown
Jerry Brown
Edmund Gerald "Jerry" Brown, Jr. is an American politician. Brown served as the 34th Governor of California , and is currently serving as the 39th California Governor...
in the early 1980s before going into private law practice in San Diego 1983-1994.
Georgiou is currently “of counsel” with the law firm Coughlin Stoia Geller Rudman and Robbins
Coughlin Stoia Geller Rudman and Robbins
Robbins, Geller Rudman & Dowd LLP is a law firm in San Diego, California. The firm was formed in May 2004 when Milberg Weiss Bershad Hynes & Lerach split with the New York office, becoming Milberg Weiss Bershad & Schulman....
LLP. and related San Diego firm Robbins Geller Rudman & Dowd LLP. He "helped lead a team of 30 lawyers to recover $7.5 billion for investors bilked in the Enron fiasco." With Coughlin Stoia and Robbins Geller since 2000, he has had a "leadership role" in the litigations prosecuting financial fraud on behalf of defrauded investors at Enron, WorldCom, Dynegy
Dynegy
Dynegy Inc. , based in Houston, Texas, United States, is a large owner and operator of power plants and a player in the natural gas liquids and coal business...
, AOLTimeWarner
Time Warner
Time Warner is one of the world's largest media companies, headquartered in the Time Warner Center in New York City. Formerly two separate companies, Warner Communications, Inc...
, and UnitedHealth.
Georgiou is currently president of Georgiou Enterprises, which has wide ranging interests including partnerships in several private equity firms; a portfolio of carbon emission reduction projects
Carbon offset
A carbon offset is a reduction in emissions of carbon dioxide or greenhouse gases made in order to compensate for or to offset an emission made elsewhere....
in China
China
Chinese civilization may refer to:* China for more general discussion of the country.* Chinese culture* Greater China, the transnational community of ethnic Chinese.* History of China* Sinosphere, the area historically affected by Chinese culture...
that generate carbon credits under the Kyoto protocol
Kyoto Protocol
The Kyoto Protocol is a protocol to the United Nations Framework Convention on Climate Change , aimed at fighting global warming...
; environmental cleanup of deep coal mining
Coal mining
The goal of coal mining is to obtain coal from the ground. Coal is valued for its energy content, and since the 1880s has been widely used to generate electricity. Steel and cement industries use coal as a fuel for extraction of iron from iron ore and for cement production. In the United States,...
sites; residential and commercial real estate and golf course
Golf course
A golf course comprises a series of holes, each consisting of a teeing ground, fairway, rough and other hazards, and a green with a flagstick and cup, all designed for the game of golf. A standard round of golf consists of playing 18 holes, thus most golf courses have this number of holes...
management and development; and the provision of customer services at regional shopping centers
Shopping mall
A shopping mall, shopping centre, shopping arcade, shopping precinct or simply mall is one or more buildings forming a complex of shops representing merchandisers, with interconnecting walkways enabling visitors to easily walk from unit to unit, along with a parking area — a modern, indoor version...
throughout America.
He serves on the advisory board of Harvard Law’s corporate governance
Corporate governance
Corporate governance is a number of processes, customs, policies, laws, and institutions which have impact on the way a company is controlled...
program and contributes to its blog.
Political involvement
Georgiou is a lifelong Democrat. He gave $115,000 to Democrats in the 2008 election cycle, including more than $50,000 to the Democratic Senatorial Campaign CommitteeDemocratic Senatorial Campaign Committee
The Democratic Senatorial Campaign Committee is the Democratic Hill committee for the United States Senate. It is the only organization solely dedicated to electing Democrats to the United States Senate. The DSCC's current chair is Sen. Patty Murray, who succeeded Sen. Robert Menendez following...
.
Senatorial Campaign
In March 2011, Georgiou officially entered the race for the U.S. Senate in Nevada, claiming he had received "significant encouragement to run both at a local and national level." He was the first Democrat to file his candidacy for the seat, which will be open in 2012 when incumbent John EnsignJohn Ensign
John Eric Ensign is a former United States Senator from Nevada, serving from January 2001 until he resigned amid an investigation of an ethics violation in May 2011...
(R) retires.
On August 8, 2011, Georgiou officially ended his campaign. In a brief statement, he said he "can more effectively contribute to resolution of the serious economic issues facing our state and nation" through his work in the private sector than the Senate.
Service on financial crisis commission
Georgiou was one of three appointees by Sen. Reid to the commission, along with fellow Nevada resident Heather MurrenHeather Murren
Heather Murren was the cofounder, chairman and CEO for Nevada Cancer Institute from its founding until June 2009, and remains a member of its board of directors...
and Sen. Bob Graham
Bob Graham
Daniel Robert "Bob" Graham is an American politician. He was the 38th Governor of Florida from 1979 to 1987 and a United States Senator from that state from 1987 to 2005...
, (D-FL
Florida
Florida is a state in the southeastern United States, located on the nation's Atlantic and Gulf coasts. It is bordered to the west by the Gulf of Mexico, to the north by Alabama and Georgia and to the east by the Atlantic Ocean. With a population of 18,801,310 as measured by the 2010 census, it...
).
At the time of Georgiou's appointment to the FCIC, concerns were raised about conflict of interest
Conflict of interest
A conflict of interest occurs when an individual or organization is involved in multiple interests, one of which could possibly corrupt the motivation for an act in the other....
question, pointing to Coughlin Stoia lawsuits against big Wall Street
Wall Street
Wall Street refers to the financial district of New York City, named after and centered on the eight-block-long street running from Broadway to South Street on the East River in Lower Manhattan. Over time, the term has become a metonym for the financial markets of the United States as a whole, or...
firms. A report at the time said Georgiou had no equity in the firm and no financial stake in the lawsuits. Lucian Bebchuk
Lucian Bebchuk
Lucian Arye Bebchuk is a professor at Harvard Law School focusing on economics and finance.His many degrees include a B.A. in Mathematics and Economics from the University of Haifa , an LL.B. from the University of Tel Aviv , an LL.M. and S.J.D. from Harvard Law School and an M.A. and Ph.D. in...
, who runs the Harvard Law corporate governance program and consulted with Georgiou on the financial-fraud issues, said Georgiou brought "a rich experience and broad perspective" to the commission assignment, at the same time.
In the opening FCIC session in September, 2009, "Commissioner Georgiou highlighted the importance of untangling the 'too big to fail
Too Big to Fail
Too Big to Fail is a television drama film in the United States broadcast on HBO on May 23, 2011. It is based on the non-fiction book Too Big to Fail by Andrew Ross Sorkin. The TV film was directed by Curtis Hanson...
' phenomenon. He also emphasized that the Commission should probe the role played by financial instruments and policies which allowed the creators of securities to abandon responsibility for the ultimate performance or failure of assets."
Personal life
Mr. Georgiou has lived in Las Vegas, NevadaLas Vegas, Nevada
Las Vegas is the most populous city in the U.S. state of Nevada and is also the county seat of Clark County, Nevada. Las Vegas is an internationally renowned major resort city for gambling, shopping, and fine dining. The city bills itself as The Entertainment Capital of the World, and is famous...
since 2005. He and his wife, Dr. Thérèse Collins, have two daughters.