Early Life & Education

Jeffrey Lillien (Jeff) was born and raised in Chicago and its suburbs, an area known for its cultural richness and diverse communities. Growing up in a first-generation American household filled with intellectual curiosity, the recognition of his early mathematical skills helped him develop an early interest in and knack for problem-solving. His family also fostered an interest in current events, government, and financial developments. This foundation inspired him to pursue a degree in Economics, a field that merged his analytical mindset with a strong desire to understand the structural dynamics of society.

Jeff’s academic journey took him to some of the most prestigious institutions in the country. He began his studies at the Massachusetts Institute of Technology (MIT), where he was mentored by his favorite professor, Dr. Louis Menand III, whose guidance profoundly influenced his approach to critical thinking and public policy in institutional systems. MIT also advanced Lillien’s interest in applying mathematical and technological tools to problem-solving. Driven to make an impact in both business and policy, At MIT, Jeff lived at the French House (La Maison Francaise), advancing his knack for foreign languages, where he became fluent in French. This created a foundation for him to later receive a translator’s certificate in commercial French from the Parisian Chamber of Commerce (Ls Chambre de Commerce et d’Industrie de Paris).

Jeff later pursued a law degree at New York University School of Law, where he was honored by being made a member of the Law Review and then elected as an editor. He then completed his legal studies by returning to his hometown of Chicago as a visiting student for one year at Northwestern University School of Law. These experiences broadened his understanding of foundational legal issues and the intricate relationships between regulation, commerce, and technology.

Career

Jeff Lillien’s professional journey was fueled by personal experiences, especially the legal and economic hurdles his family faced, which inspired him to enter the legal profession. He began his career as an associate at Mayer Brown, Chicago’s leading U.S. law firm. There, he honed his skills in complex legal analysis, particularly in lending and securities laws.

As he advanced in his career, Jeffrey became a key figure in developing new financial products, creative and complex business relationships and transactions, and frameworks that guide market behavior and economic innovation. His work has consistently bridged the gap between traditional financial systems and emerging technologies, enabling more transparent, efficient, and resilient frameworks for practical innovation. Jeff has a legal career in his Chicago and New York City hometown.

Industry Contributions & Projects

During his legal career, Lillien has contributed to various initiatives that have helped modernize and standardize financial market practices. His involvement spans both thought leadership and hands-on project execution. Some of his most notable contributions include commentary and assistance on:

• Foreign Exchange Global Code – A set of principles promoting the integrity and effective functioning of the foreign exchange market.
• Treasury Markets Best Practices – Guidelines that promote transparency and appropriate conduct in U.S. Treasury markets.
• Digitization and Capital Markets – A white paper exploring how digital infrastructure can improve market efficiency, transparency, risk management, and a taxonomy for digital assets in financial markets.
• Regulated Settlement Network – An industry-led initiative to digitize the settlement of fixed-income securities, leveraging distributed ledger technology to mitigate settlement risk.

Through these projects, Jeff has addressed critical challenges such as:

• Designing and implementing principled market conduct standards in financial markets
• Digitizing legacy financial instruments for integration into modern systems to enable more effective, efficient, and risk-reducing products and systems
• Using distributed ledger technology to reduce or eliminate settlement delays and risks
• Building infrastructure that enables real-time liquidity and asset transfer on a 24/7/365 basis

His influence has been instrumental in guiding the evolution of traditional finance toward a more technology-driven and globally coordinated future.

Professional Memberships & Affiliations

Jeffrey Lillien remains active in numerous professional organizations that reflect his diverse expertise and commitment to ongoing industry improvement. These include:

• International Swaps and Derivatives Association (ISDA) – Contributing to global derivatives market standards.
• Securities Industry and Financial Markets Association (SIFMA) – Advancing projects of interest to broker-dealers, investment banks, and asset managers.
• Global Financial Markets Association (GFMA) – Promoting efficient and resilient global capital markets.
• Financial Markets Lawyers Group (FMLG) — Promoting appropriate market standards and documentation for the foreign exchange industry

In his work in these professional associations, Jeff has repeatedly presented at conferences sponsored by central banks in the U.S., U.K., Europe, and Japan, as well as by the professional associations noted above.

Publications & Media

Lillien has authored and contributed to numerous whitepapers and articles addressing market reform, digital transformation, and regulatory harmonization. His writing has appeared in industry journals and policy briefings, although links to these works are forthcoming. His thought leadership has also been referenced in media articles and expert panels, particularly regarding using digital tools to modernize financial systems.

Pro Bono Work, Philanthropy & Community Involvement

As part of his life, Jeff has spent substantial time “giving back” to the community that gave him and his immigrant family valued opportunities. Jeff began this lifetime goal in college at MIT, where he tutored middle-school students in Cambridge, MA, in math through the local Tutoring Plus program (a favorite organization of his mentor, Dr. Menand).

As an attorney, Lillien has performed extensive pro bono work, initially in the field of human rights, where he has served on the boards of the Midwest Immigrant Rights Center and the Heartland Alliance (where he also served as co-chair of its Human Rights Council), as well as serving on advisory boards for international human rights at Northwestern University School of Law and DePaul University College of Law. Jeff has continued his pro bono work, with recent support locally for the New York City artists’ community and nationally for disabled military veterans. He has received awards for his pro bono work, which he deeply values.

Lillien’s belief in “giving back” has also been reflected in his sponsorship and financial support for local charities, focusing on education and environmental issues.

Personal Life

A devoted father, Jeff finds his greatest joy in spending time with his child. Together, they explore a shared love for art and music. These adventures are more than entertainment: they represent Jeff’s deep commitment to nurturing creativity, cultural appreciation, and emotional connection within his family. Jeff is loyal to his home city of Chicago, supporting its sports teams and pizza.

Online Presence

Jeff Lillien continues to shape the future of financial markets through innovation, regulation, and a steadfast commitment to principled leadership, all while staying connected to the values and relationships that matter most.