Diana Farrell

Diana Farrell
Alma mater	Loomis Chaffee School; Wesleyan University; Harvard Business School
Occupation(s)	Banking professional, political consultant
Years active	–2021
Known for	President and CEO of JPMorgan Chase Institute; Deputy Director of the United States National Economic Council (2009–2011)

Diana Farrell is a banking professional and political consultant who, until 2021, served as the inaugural President and CEO of the JPMorgan Chase Institute, a research organization delivering data-driven analysis. Prior to this role, she was the Global Head of the McKinsey Center for Government (MCG), where she provided research and practical tools aimed at enhancing government leadership effectiveness. Farrell also directed McKinsey’s worldwide Public Sector Practice and participated on their Partner Review Committee.

Between 2009 and 2011, Farrell held the position of Deputy Director at the United States National Economic Council (NEC) and acted as Deputy Assistant for Economic Policy under President Barack Obama. She played a key role in the efforts of the Presidential Task Force on the Auto Industry during the restructuring phase following the 2008 financial crisis.

Life and career

Farrell is an alumna of the Loomis Chaffee School, obtained her Bachelor of Arts in Economics from Wesleyan University, and earned an MBA from Harvard Business School. She maintains affiliations with organizations including the Council on Foreign Relations, Aspen Strategy Group, Bretton Woods Committee, Trilateral Commission, and has served as Vice-Chair for the World Economic Forum’s Future of Government Global Agenda Council. Additionally, she has been a member of Wesleyan University’s board of trustees.

Before entering public service, Farrell directed the McKinsey Global Institute (MGI), McKinsey & Company’s economics research division, while also leading their Global Financial Institutions and Global Strategy practices. Earlier in her career, she worked at Goldman Sachs in New York City.

While at the White House, Farrell was responsible for coordinating across agencies on initiatives related to financial regulatory reform, housing policy, and innovation strategies. She departed from her government role at the close of 2010. Lawrence Summers, then NEC Director, acknowledged her pivotal contributions to economic recovery programs, restructuring of the automotive sector, and responses to the housing market crisis, emphasizing her expertise in policy development and decision-making.

Research and political views

In 2003, Farrell authored a study contending that outsourcing American jobs could potentially benefit the United States as much as or more than the recipient nations. During her tenure as director at the McKinsey Global Institute, she identified "Asian economies" among four emerging influential actors generating substantial trade surpluses.

Farrell champions increased private-sector participation in governmental roles, underscoring how experience in corporate environments can enhance public service effectiveness. Following the 2008 financial crisis, she asserted that governments had "overextended themselves" and advocated for structural reforms during a 2012 interview.

She endorses regulation of major banking institutions, expressing in an NPR interview that such entities require management and oversight rather than attempts to revert to former financial frameworks.

Selected publications

• "Government by Design: Four Principles for a Better Public Sector," McKinsey Center for Government, December 2013
• "Education to Employment: Designing a System That Works," McKinsey Center for Government, December 2012
• "Government Designed for New Times," McKinsey Center for Government, October 2012
• “New but not yet normal: Corporate and investment banking in transition,” McKinsey on Corporate & Investment Banking, September 2010
• “Changing the fortunes of America's workforce: A human capital challenge,” McKinsey Global Institute, June 2009
• “Promoting energy efficiency in the developing world,” McKinsey Quarterly, February 2009
• “Why Americans pay more for health care,” McKinsey Quarterly, December 2008
• “Leading through uncertainty,” McKinsey Quarterly, December 2008
• “The challenge of reforming Japan’s health system,” McKinsey Global Institute, November 2008
• “Why baby boomers will need to work longer,” McKinsey Quarterly, November 2008
• “New thinking for a new financial order,” Harvard Business Review, September 2008
• “Capturing the European energy productivity opportunity,” McKinsey Global Institute, September 2008
• “Boosting Europe’s energy productivity,” Businessweek, September 2008
• “China’s urbanization means rich rewards for business,” Businessweek, September 2008
• “How the world should invest in energy efficiency,” McKinsey Quarterly, July 2008
• “The rise of the euro,” Businessweek, March 2008
• “Investing the Gulf’s oil profits windfall,” McKinsey Quarterly, May 2008
• “The challenge of funding Japan’s future health care needs,” McKinsey Global Institute, March 2008
• “Gulf states must use oil wealth wisely,” Businessweek, February 2008
• “Long-term trends in global capital markets,” McKinsey Quarterly, February 2008
• “The new role of oil wealth in the world economy,” McKinsey Quarterly, January 2008
• Offshoring: Understanding the Emerging Global Labor Market, Harvard Business Press Books, 2006
• Driving Growth: Breaking Down Barriers to Global Prosperity, Harvard Business Press Books, 2006
• Productivity Imperative: Wealth and Poverty in the Global Economy, Harvard Business Press Books, 2006
• “Smarter offshoring,” Harvard Business Review, June 2006
• Market Unbound, Wiley & Sons, 1996

External links

• Profile within the McKinsey & Company Public Sector division
• Profile at McKinsey & Company, World Economic Forum 2005 event
• Author biography featured by Bloomberg Businessweek
• Professional biography hosted on UN.org