PNC Capital Markets has announced their acquisition of Ambassador Financial Group, subject to closing conditions. This web site is scheduled to transition to PNC on April 12th.


John S. Walker, Ph.D., CFA

Chief Economist

John Walker is the Chief Economist at Ambassador Financial Group. In his role John writes bank- and investment-related research articles and economic commentary. In addition, he advises on stock valuations for investment banking clients.

John has over 20 years of experience working in the banking industry, both as a practitioner and a professor. He has written numerous white papers and practitioner articles on issues relevant to community banks, such as dividend policy, asset-liability management and building shareholder value. John was the associate editor for Sheshunoff’s publication titled Banker’s Economic & Investment Alert and was on the editorial board for many years.

John is recognized as a speaker for national trade organizations, such as the Financial Managers Society (FMS), and state trade associations, such as the Pennsylvania Association of Community Bankers (PACB) and Independent Bankers Association of New York State (IBANYS). He earned the Certified Toastmaster (CTM) designation from Toastmasters International and enjoys speaking.

John is a professor of finance at Kutztown University of Pennsylvania. He teaches courses on financial management, investments and portfolio management, business statistics, and financial markets and institutions. He also serves as the advisor to KU’s Applied Investment Management Program, which consists of a team of students who manages a $400,000 portfolio for the KU Foundation.

John graduated from Lehigh University with a Ph.D. in business and economics. While a Ph.D. candidate, John taught and conducted research in the areas of finance and economics. He has published papers in peer-reviewed journals, such as Journal of Financial Education, North American Journal of Finance and Banking Research, and Pennsylvania Economic Review. Recently, he published a paper titled, “Executive Compensation at U.S. Community Banks: An Empirical Study of the Relationship between Direct Compensation and Financial Return.”

John earned his Chartered Financial Analyst (CFA) credential and is currently a member of the CFA Institute and the CFA Society of Philadelphia. In addition to his Ph.D., John also earned a Bachelor of Science in Chemical Engineering, a Bachelor of science in Finance, a Masters degree in Chemical Engineering, and a Masters in Business Administration. He holds Series 7, 63, 24 and 79 designations. He resides with his wife, Linda, in Macungie, Pennsylvania.  In his spare time, John enjoys golfing and mountain biking.