An investment can clear every financial and regulatory hurdle and still depend on decisions its owner cannot control. A foreign export license, a maintenance provider, access to finance, or a critical transport route can determine whether an asset keeps operating. As geopolitical competition reaches into everyday business, ownership alone tells us less than we might expect about who holds the power to interrupt production, restrict access, or delay recovery.
Drawing on his experience in government and the defense industry, Shay Gal will explore how businesses can identify these dependencies before committing capital. Through a practical case and moderated discussion, participants will examine who can stop an essential function, what alternatives exist, and how long they would take to activate. The conversation will connect international affairs to concrete decisions facing boards, investors, and communities, with time for audience questions.
Thursday, November 5 I 12:00pm – 1:00pm
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Featured Speaker: Shay Gal (Founder and Principal, Line of State)
Shay Gal is Founder and Principal of Line of State, an international strategic practice advising governments, institutions and businesses on strategy, security and political risk. He previously served as Vice President of External Relations at Israel Aerospace Industries, following senior advisory roles in Israeli government. His work connects geopolitics with practical decisions about investment, infrastructure and industrial capacity, examining how states and companies preserve their freedom to act when suppliers, partners or governments control something they cannot readily replace.
Featured Moderator: Bill Hirschman (Portfolio Manager & Head of Nashville Office, Brown Advisory)
Bill is a Portfolio Manager and Head of Brown Advisory’s Nashville office. With more than 30 years in the capital markets, he has advised families, foundations, and businesses on investment strategy, portfolio management, and long-term wealth stewardship. He spent the first half of his career in investment banking with Equitable Securities and Avondale Partners, advising companies on strategic and capital markets matters.
He subsequently transitioned to private banking and wealth management, holding senior roles with J.P. Morgan and Bank of America before joining Brown Advisory. This breadth of experience—spanning corporate finance, capital markets, and private wealth—continues to inform his approach to investing and advising clients today. Known for combining disciplined investment thinking with a client-focused approach, Bill works closely with clients to help them achieve their financial objectives across generations.
Bill is passionate about advancing environmental, educational, and community-focused organizations through board service and volunteer leadership.
Education
Washington and Lee University, B.A., Economics
Community Involvement
Board Member, Friends of the Everglades
Advisory Board Member, Friends of Warner Parks
Volunteer Coach, Montgomery Bell Academy Rowing
Prior Community Involvement
Board Member & Treasurer, Nashville Conflict Resolution Center
Member, Alive Hospice Ethics Committee
