Rebel A. Cole

Ph.D. University of North Carolina, Chapel Hill, NC, Business Administration, 1988
(312) 362-6887
1 E. Jackson Blvd.
DePaul Center 5500 Chicago, IL 60604


Dr. Cole has been a Professor of Finance at the Driehaus College of Business of DePaul University in Chicago since 2003. He received his PhD in Business Administration from the University of North Carolina in 1988, after which he spent ten years working in the Federal Reserve System, primarily at the Board of Governors in Washington, DC where he oversaw design, development and implementation of the System for Estimating Examination Ratings (SEER)--the Fed's primary system for offsite monitoring of banks and bank holding companies--and the 1993 iteration of the Fed’s Survey of Small Business Finances.

Since leaving the Board of Governors in 1997, Dr. Cole has served as a special advisor to the the International Monetary Fund, the World Bank and other non-governmental organizations, providing training and technical assistance to central banks in developing countries that include the Bahamas, Belize, Cape Verde, China, Ghana, Guyana, Jamaica, Jordan, Kenya, Lebanon, Malaysia, Mongolia, Morocco, Palestine, the Philippines, Russia, Syria, Trinidad & Tobago, Turkey, Uzbekistan and Yemen. Dr. Cole has participated in more than 40 international missions to these countries to assist in the development of stress tests, financial stability indicators, and off-site monitoring systems for commercial banks and other financial institutions.

Dr. Cole has published peer-reviewed articles in top academic journals that include the Journal of Finance, the Journal of Financial Economics, the Journal of Financial & Quantitative Analysis, the Journal of Banking & Finance, the Journal of Real Estate Finance and Economics and Real Estate Economics. His primary areas of research are commercial banking, corporate governance, financial institutions, real estate and small-business finance. According to Google Scholar, his works have been cited by other scholars more than 3,900 times. Most of his research papers are available for download from his webpages at

Dr. Cole is a frequent commentator in the financial press. During the past few years, he has been quoted in, or appeared on: Accounting Today, the American Banker, the Bloomberg Businessweek, CNN Money, Fox Business News, the Huffington Post, the New York Times, National Public Radio, the PBS Nightly Business Report, the, the Voice of America, the Washington Post, WTTW’s Chicago Tonight, and Yahoo Finance.

Rebel Cole's CV​​

Academic Degrees

Ph.D. University of North Carolina, Chapel Hill, NC, Business Administration, 1988
B.A. University of North Carolina, Chapel Hill, NC, Economics, Political Science and Industrial Relations, 1981​​