Dr Richard Hern is a managing director of NERA UK Ltd and a member of NERA’s global management committee and board of directors. He has more than 25 years of experience as an economist and quantum damages expert in private sector consulting and has worked in countries throughout the Middle East, Europe, the United States, Asia and Latin America.
He has prepared expert testimony on a wide range of economic and finance issues, including assessment and quantification of damages (including loss of profits, consequential losses, and loss of business opportunities), valuations of business at different stages of development, valuation of assets in the context of political intervention, contract disputes and disputes involving regulation of concessions and large infrastructure assets. His work in both commercial and investor-state disputes encompasses a wide range of industries, including energy, oil refinery, telecommunications, manufacturing, distribution, utilities, shipping services, air travel and transport infrastructure. His work also includes assessment of damages associated with macroeconomic impacts such as lost gross domestic product and lost taxes.
Dr Hern has appeared as an expert witness before a number of panels, arbitrators and tribunals, including ICSID, PCA, ICC, high courts and competition regulators. He has also acted as the independent expert/arbitrator in two appeals by regulated companies against the national regulatory authorities in Belize and Honduras.
Dr Hern has taught economics and finance courses at Bristol University and Bath University and is a regular speaker at conferences in the United Kingdom and abroad. Dr Hern is listed by Who’s Who Legal as a leading expert witness in arbitration. He is also listed in Who’s Who Legal directory for quantum experts.