Senator Gramm joined UBS Investment Bank as Vice Chairman in December of 2002 after serving 24 years in Congress, including the last 18 years as Senator from Texas.

Phil Gramm was born on July 8, 1942 in Fort Benning, Georgia. He holds a Ph.D. from the University of Georgia in economics, the subject he taught at Texas A&M University for 12 years. He has published numerous articles and books on subjects ranging from monetary theory and policy to private property to the economics of mineral extraction, and has served as ranking member of the Senate Banking Committee.

U.S. Congressman, 6th Congressional District of Texas, elected 1978, 1980 and 1982. Resigned from Congress on January 5, 1983 and re-elected on February 12, 1983 as the first Republican in the history of the 6th Congressional District of Texas (only member of Congress in the 20th Century to resign from Congress and successfully seek re-election as a member of another party.) Member of the Energy and Commerce Committee, Budget Committee and Veterans Affairs Committee.

U.S. Senator from Texas, elected 1984, 1990, and 1996. Chairman, Committee on Banking, Housing and Urban Affairs; Chairman, Subcommittee on Commerce, Justice, State and the Judiciary of the Senate Appropriations Committee; Chairman, Subcommittee on Health Care of the Senate Committee on Finance; Member, Senate Budget Committee; Member, Senate Committee on Agriculture; Member, Senate Committee on Armed Services.

The Senator was described in the Atlantic Monthly as a man "who carries his own garment bag and does his own thinking," and the National Journal said that "he sparkles in a Senate that sometimes resembles a hundred blinking yellow lights." The Gramm legislative record includes such landmark bills as the Gramm-Latta Budgets, which reduced federal spending, rebuilt national defense and mandated the Reagan tax cut. Two years later, he passed his Gramm-Rudman Act, which placed the first binding constraints on federal spending. Those spending constraints have become a part of each subsequent American budget and together with the strong economy helped to produce the first balanced budget in 30 years. As Chairman of the National Republican Senatorial Committee, he led the successful effort to restore a Republican majority in the Senate in 1994.

In two years as Chairman of the Banking Committee, Senator Gramm steered through legislation modernizing the banking, insurance and securities laws, which had been languishing in Congress for 60 years. The Gramm-Leach-Bliley Act repealed the 70-year old Glass-Steagall Act, which prohibited banks, securities firms and insurance companies from affiliating.Phil Gramm authored key reforms of the U.S. welfare system and started the effort to gain control of U.S. borders by doubling the strength of the Border Patrol. With Senator Robert Byrd of West Virginia, he won passage of a highway bill, which dedicates the full gasoline tax to road construction.He is married to Dr. Wendy Lee Gramm, former Chairman of the U.S. Commodity Futures Trading Commission under Presidents Reagan and Bush. They have two sons, Marshall and Jeff.