Michael Schmertzler named to Phillips Academy Board of Trustees

Schmertzler has taught in the economics departments at Yale University and Yale NUS (Singapore), and at the Yale School of Management since 1998. He is the author of Private Equity Methods: Generating Value and Managing Risk in Early, Growth, and Late-Stage Illiquid Investments.

Since 2000, he has chaired PTC Therapeutics, a publicly traded biotechnology company. He is also chair of SHY Therapeutics, an early-stage biotechnology company, and is a director of Berryville Holdings and Dispel, cyberdefense companies. He recently completed nine years as the court appointed independent director for the liquidation of Lehman Commercial Paper, the largest subsidiary of the bankrupt Lehman Brothers estate and has also served as a director or lead investor at Cain Chemical, Colt Industries, Idenix, and Segway.

Earlier in his career, Schmertzler was co-head of Credit Suisse First Boston Equity Partners and chair of its oversight committee. He was also a Managing Director at Morgan Stanley and was the first president of the Morgan Stanley Leveraged Capital Funds. Schmertzler also worked at Lehman Brothers or its successor firm as head of international investment banking and sales and trading, chief financial officer, and as an investment banker.

Schmertzler’s record of volunteer service extends beyond Andover. He is an emeritus chair of the National Outdoor Leadership School and has served on the boards of Manhattan Theater Company, New York Academy of Sciences, Harvard Partners Center for Genetics and Genomics, and Credit Suisse First Boston Foundation.

He graduated from Yale College with a BA in City Planning, History, and Molecular Biophysics and Biochemistry; attended the Princeton School of Public and International Affairs; and earned his MBA from Harvard Business School.