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Pension Bridge Annual Speakers 2016

 

Keynote Speakers


David Villa, Chief Investment Officer, State of Wisconsin Investment Board

 

David Villa is chief investment officer and chairman of the investment committee for the State of Wisconsin Investment Board (SWIB), which manages assets in excess of $103 billion, sixty percent of them internally. He is responsible for implementing the investment policy and developing the architecture of the overall investment program. Prior to joining SWIB in 2006, Villa served for two and a half years as chief investment officer with the State Board of Administration of Florida and 12 years with UBS Global Asset Management (previously Brinson Partners). He is a board member and the treasurer of the Marguerite Casey Foundation and a member of the board of Madison College Foundation and the advisory board of the University of Wisconsin Carbone Cancer Center. Villa received a B.A. from Princeton University, an M.A. from Stanford University and an M.B.A. from Northwestern University. He is a chartered financial analyst and a certified public accountant.

 

 

David Fann, President & Chief Executive Officer, TorreyCove Capital Partners

 

Mr. Fann is President and Chief Executive Officer of TorreyCove Capital Partners, Mr. Fann is a member of the Firm’s Board of Directors and Executive and Investment Committee. He has led investment organizations that have invested/committed over $25 billion in private equity investments. With 29 years of experience in the private equity industry, Mr. Fann has invested in over 25 leveraged buyout, private equity and venture capital investments as a lead investor or co-investor, of which ten became publicly traded through successful initial public offerings – a number were acquired by Fortune 500 companies. Prior to co-founding TorreyCove, Mr. Fann was the President and Chief Executive Officer of PCG Asset Management, LLC.  Previously, he was a Managing Director of US Trust and Vice President of Citicorp Venture Capital.   Mr. Fann has served on the board of directors of eleven companies, as a board observer for seven, as chairman of the board of directors for two companies, and currently serves on the board of directors for the Association of Asian American Investment Managers and on the advisory board for the Robert H. Toigo Foundation. He holds dual Bachelor’s degrees in Industrial Engineering and Economics from Stanford University.

 

 

 

Speaker on the Economy

 

William J. Coaker Jr, CFA, MBA, Chief Investment Officer, San Francisco Employees' Retirement System, (SFERS)

 

Mr. Coaker has served as the Chief Investment Officer for the San Francisco Employees Retirement System, a $20 billion public pension plan, since February 2014.  Prior to SFERS, Mr. Coaker served as the Senior Managing Director of Public Equity for the University of California for six years.  Prior to U.C.. Mr. Coaker worked as the Senior Investment Officer for SFERS from 2005 to 2008 and as the Chief Investment Officer and Financial Controller for the Diocese of Monterey for 13 ½ years managing the organization’s pension, endowment, and corporate investments. 

 

Mr. Coaker earned a Bachelor of Science in Accounting from Loyola Marymount University and a Master’s in Business Administration with an emphasis in Finance from Golden Gate University.  He is a Chartered Financial Analyst (CFA) charter holder as well as a Certified Financial Planner (CFP®).  He held the Certified Investment Management Analyst (CIMA) designation for over ten years before letting the designation expire.  He also completed the Endowment Institute program on investing from the Commonfund and the Yale University School of Management. 

 

Mr. Coaker has authored eight articles on investing that have been published in various investment journals.  He supports numerous organizations around the country devoted to caring for homeless animals.      

 

 

Conference Chairman

 

Dan McAllister, Treasurer-Tax Collector; Board Member, San Diego County; San Diego County Employees Retirement Association, (SDCERA)

 

Dan McAllister was elected San Diego County’s Treasurer- Tax Collector in November 2002 and re-elected to his fourth term in June 2014 by an overwhelming 99% majority of the vote. Not only is he responsible for the collection of more than $5.5 billion in property taxes each year, but his office also manages the Investment Pool which reached an all- time high of $8.8 billion in April of 2014, ensuring that these funds are wisely invested and safeguarded for entities such as the school districts and cities in the County. Since assuming office, he has worked extensively to improve customer service, enhance communications and outreach initiatives, and has made numerous operational improvements. He is also a strong advocate for diversity.
This is reflected in his staff, which encompasses professionals from all walks of life and backgrounds. His office now delivers service in 16 different languages.


Dan also serves as a member of the San Diego County Employees Retirement Association, which manages more than $10 billion of investments. Additionally, he is a former chairman of the Board of Directors of the internationally recognized San Diego Convention Center Corporation. Prior to his election as San Diego County Treasurer-Tax Collector, Dan was a successful financial consultant and investment broker.


Dan contributes considerable time and resources to community service, such as serving as Chair of the San Diego Unified School District’s Special Audit and Finance Committee and is a participating member of the Boards of Directors of the Jackie Robinson YMCA; Habitat for Humanity, San Diego; and New Americans Museum, San Diego. McAllister’s strong commitment and involvement in the community dates back to his service as a U.S. Peace Corps volunteer in the Western Pacific country of Micronesia.


A second-generation San Diegan, Dan holds a Bachelor’s degree (BA) from California State University, Fresno, and a Master’s degree in Business Administration (MBA) from United States International University. He has also completed executive education programs in portfolio concepts and management at Stanford University and the University of Pennsylvania’s Wharton School.

 

 

Featured Session: Simplify, Grow, Protect: Your Route to a Sustainable Pension Plan

 

Tamara Burden, FSA, CFA, MAAA, Principal and Managing Director, Milliman Financial Risk Management LLC

 

Tamara is a principal and financial risk management consultant with Milliman Financial Risk Management LLC. She joined the firm in 2004.

 

Since joining Milliman, Tamara has led a number of high-profile hedging and product development initiatives for retirement savings guarantees, as well as managing a number of hedge programs for both U.S. and international companies. 

 

 

Tamara is currently responsible for the expansion of Milliman’s fund advisory services to the defined benefit pension market, endowments and foundations.  In this capacity, she is working with pension funds and other institutional clients to bring the sophisticated risk management techniques that insurance companies have relied on for a decade into the pension and endowment market.

 

Tamara is a CFA Charterholder and in 2006 was nominated (1 of 17 worldwide) for the Professional Risk Managers’ International Association’s Professional Risk Manager of the Year award.

 

Professional Designations
-Fellow, Society of Actuaries
-Member, American Academy of Actuaries
-CFA Charterholder, CFA Institute
-Award of Merit Winner, Professional Risk Managers’ International Association

 

 

Featured Session on Multi-Asset Strategies

 

 

Ashwin Alankar, Ph.D., Senior Vice President, Global Head of Asset Allocation & Risk Management, Janus Capital Group


Ashwin Alankar is Global Head of Asset Allocation & Risk Management for Janus Capital Group. In this role he is responsible for leading and advising on risk management issues across the platform and defines short- and long-term approaches to asset allocation. He also co-manages the Janus Adaptive Multi-Asset strategy.

 

Prior to joining Janus in August 2014, Mr. Alankar served from 2010 to 2014 as co-chief investment officer of AllianceBernstein’s tail risk parity and senior hedge fund portfolio manager of the firm’s multi-asset class market neutral systematic hedge fund. Prior to that, he was a partner and capital allocation committee member for Platinum Grove Asset Management from 2003 to 2010. Mr. Alankar’s experience also includes serving as a consultant in the financial litigation division of the Law and Economics Consulting Group from 2001 – 2002.

 

Mr. Alankar holds a bachelor of science degree in chemical engineering and mathematics and a master of science degree in chemical engineering, both from Massachusetts Institute of Technology. He also holds a Ph.D. in finance from the University of California at Berkeley Haas School of Business. Mr. Alankar has 15 years of financial industry experience

 

 

 

Pension Plan and Consultant Speakers

 

 

David Altshuler, Partner, StepStone Group

 

Mr. Altshuler is the Co-Head of StepStone’s Infrastructure and Real Assets Group, and focuses on infrastructure and natural resources investments.


Prior to StepStone, Mr. Altshuler was Senior Vice President and Infrastructure Practice Leader at Meketa Investment Group. In this role, he advised a diverse group of public and private pension plans on all aspects of private market infrastructure and real asset investments. Mr. Altshuler was a member of the firm’s Infrastructure Investment Committee and led the sourcing and evaluation of fund, co-investment, and direct investments in infrastructure and energy. Prior to joining Meketa, Mr. Altshuler held senior investment positions in the infrastructure financing and fixed income groups at Nuveen investments, and was a visiting scholar at the Collaboratory for Research on Global Projects at Stanford University.


Mr. Altshuler holds an MA and PhD from the University of Chicago and a BA from Reed College.

 

 

Gary A. Amelio, Chief Executive Officer, San Bernardino County Employees' Retirement Association

 

Mr. Amelio serves as the Chief Executive Officer for the San Bernardino County Employees’ Retirement Association (SBCERA), an $8.4 billion public retirement fund. He is the primary Fiduciary responsible for day to day leadership and management of SBCERA operations, including investment, actuarial, financial, benefit, governance and fiduciary matters. He also serves as the chief spokesperson for SBCERA with external constituents.


Before joining SBCERA, Mr. Amelio was CEO for the Santa Barbara County Employees’ Retirement System and prior to that he served as Executive Director of the $18 billion San Francisco Employees’ Retirement System. His extensive 34 year career experience also includes having served as Executive Director of the Federal Retirement Thrift Investment Board (the largest individual account benefit plan in the world, and largest retirement plan in the U.S.) and top executive management positions in the banking and insurance industry dealing with corporate, Taft Hartley and government qualified retirement, non-qualified deferred compensation, executive bonus and welfare plans. As an attorney, he also served as legal counsel on ERISA, tax and fiduciary matters.


A graduate of the University of Pittsburgh and its law school, Mr. Amelio is a member of various professional organizations and is a frequent guest speaker both nationally and internationally. He has received numerous national awards recognizing his expertise and management skills in the individual accounts retirement industry.

 

 

Travis Antoniono, Investment Officer, Corporate Governance, California State Teachers' Retirement System, (CalSTRS)

 

Travis Antoniono is an Investment Officer within the Corporate Governance Division of the California State Teachers’ Retirement System (CalSTRS), the nation’s largest teacher retirement fund. Travis is responsible for working with a dedicated governance and sustainability team to further CalSTRS’ mission to secure the financial future and sustain the trust of California’s educators. Travis’s main areas of focus are corporate engagement, sustainability advancements, proxy voting, and assisting in the management of CalSTRS $4 billion activist and sustainability manager portfolio.

 

Prior to joining CalSTRS Investment’s Corporate Governance team, Travis worked as a Management Consultant for CalSTRS and served as an officer in the United States Air Force. Travis received a Bachelor of Science degree in Finance and Risk Management from the California State University, Sacramento and is currently pursuing an MBA at Haas School of Business, University of California, Berkeley.

 

 

Tim Barron, CAIA, Senior Vice President and Chief Investment Officer, Segal Rogerscasey

 

Mr. Barron is the Chief Investment Officer of Segal Rogerscasey where he manages the firm’s Research Department and oversees all investment activities. He has over 35 years of experience in the investment industry. Mr. Barron also chairs Segal Rogerscasey’s Investment Committee and is on the Governing Committee of the Global Investment Research Alliance.


Prior to joining Segal Rogerscasey, Mr. Barron was President and CEO of Rogerscasey and its head of Research. He also worked as the Director of U.S. Institutional Client Development at Muzinich & Co., a high yield bond investment specialist firm. Prior to that, he was a Principal at Morgan Stanley Dean Witter Investment Management. Before joining Morgan Stanley, Mr. Barron was a Managing Director and Senior Consultant at BARRA RogersCasey, where he led a team providing consulting services to a variety of clients. He was also a consultant with Wyatt Asset Services, the Chief Investment Officer for the Virginia Retirement System, and the Executive Director of the City of Richmond Retirement System.


Mr. Barron received a BA in Philosophy from Emory University and an MBA in Finance from Georgia State University. He holds the Chartered Alternative Investment Analyst (CAIA) designation and is also a member of the CAIA Association and its New York Chapter’s Planning Committee. Mr. Barron formerly served as Chairman of the Finance and Investment Committees of the Girl Scouts of Southwestern Connecticut and was a team co-captain for the Ridgefield Relay for Life. He currently serves on the Advisory Board of Lowenhaupt Global Advisors.

 

 

Scottie D. Bevill, Senior Investment Officer - Global Bonds and Real Return, Teachers' Retirement System of Illinois

 

Mr. Bevill currently serves as Senior Investment Officer for the Teachers’ Retirement System of the State of Illinois. Mr. Bevill is responsible for all global fixed income ($8 billion), short-term ($2.5 billion) and real return ($4.5 billion) portfolios for the $43.7 billion Illinois Teachers' pension fund.  Mr. Bevill has been with TRS over 24 years and currently performs a number of roles outside of the global income and real return asset classes; however, remains extremely passionate about the debt markets.  A native southerner, Mr. Bevill graduated from Illinois College with a B.S. in Economics/Business and received his M.A. in Economics from the University of Illinois.

 

 

Richard Charlton, Founder and Chairman Emeritus, NEPC, LLC

 

Dick's investment experience dates back to 1972, when he initiated Michigan Bell’s Pension Oversight District in anticipation of the oversight requirements of ERISA. Dick also prepared financial regulatory testimony, and wrote his master's seminar on pension fund performance evaluation. He was elected Assistant Treasurer in February 1976, overseeing the financial modeling, market research, economics, pension, and math research districts.

 

After an assignment at AT&T, Dick joined Merrill Lynch Capital Markets in 1981, assuming the investment consulting responsibility for over $25 billion in assets. With Merrill Lynch's decision to leave the institutional investment consulting market at the end of 1985, Dick formed his own firm, New England Pension Consultants, now “NEPC, LLC,” converting 100% of his clients in this process. During the ensuing 29 years, NEPC has become one of the largest investment consulting firms in the industry, advising 347 full retainer relationships with some $925 billion in overall assets, over $80 billion of which is invested/committed to alternatives.

 

NEPC pioneered the use of alternative assets, making its first placement in 1988. Our work in that regard was recognized in 2015 when Wealth and Finance International accorded NEPC two Alternative Investment Awards; in 2012 when InvestHedge accorded NEPC its Investor Excellence Award in the Consultant category for FoF Selection; and, in 2009 when PLANSPONSOR accorded NEPC its prestigious “Alties” Award as the Alternative Asset Consultant of the Year. NEPC also received CAIA Association’s inaugural CAIA Corporate Recognition Award in 2012 and CIO Magazine’s much-lauded Industry Innovation Award in the Investment Consulting category in 2013 and 2011. NEPC’s clients have also won numerous awards, including CIO’s Industry Innovation Award, Institutional Investor’s Intelligence Award, and Money Management Intelligence’s Public Pension Fund Award.

 

Dick is a frequent speaker at national industry conferences and seminars. He also served as the Co-Chairman of the Consultants Performance Presentation Standards Task Force, a two-year effort by the investment consulting industry to develop standards for performance documentation, presentation and disclosure. He is also a past director of IMCA, the Investment Management Consultants’ Association. In 2013, Dick was honored at NASP-Detroit’s 7th Annual Encore Gala as the recipient of their “Measure of Excellence” Award.

Dick’s undergraduate degree is in Mechanical Engineering from the University of Detroit (1965), and his M.B.A., with emphasis in Statistics and Finance, is from Wayne State University (1972).

 

 

Vijoy Chattergy, CAIA, Chief Investment Officer, Employees' Retirement System of the State of Hawaii (HIERS)

 

Vijoy Paul Chattergy is the Chief Investment Officer for the State of Hawai‘i Employees Retirement System (HIERS), and reports directly to the Executive Director and the Board of Trustees. His role involves investment policy construction, portfolio management, asset allocation, and strategic development of the Investment Office. Additionally, Mr. Chattergy oversees monitoring HIERS investments and evaluation of risk/return opportunities.

 

Prior to joining HIERS, Mr. Chattergy worked as a consultant for the East-West Center and FG Energy. Previously, Mr. Chattergy was a senior analyst at SPARX International Limited based in Hong Kong and Tokyo. Before relocating to Asia, Mr. Chattergy worked in New York City for Andrew Kalotay Associates, a boutique debt advisory and analytics firm, and at The Bond Market Association, a trade group for fixed-income broker/dealers. His financial industry career began at the Federal Reserve Bank of New York, which included work on the foreign exchange trading desk, foreign reserves operations, and Treasury auctions.

 

Mr. Chattergy was recognized by Institutional Investor as a 2015 Investor Intelligence Thought Leader Award. He was a 2014 Omidyar Leadership Fellow and a 2009 Asia Pacific Leadership Fellow at the East-West Center. Mr. Chattergy was recognized as a 2013 Rising Star of Public Funds by Money Management Intelligence.

 

Mr. Chattergy holds an MBA from Cornell University and an MSc from the London School of Economics. He graduated Phi Beta Kappa and cum laude from the College of the Holy Cross, where he was a Harry S Truman Scholar and a Charles A. Dana Scholar. He holds a charter from the Chartered Alternative Investment Analyst Association (CAIA).

 

 

Dr. John Claisse, CEO, Albourne America LLC

 

John Claisse joined Albourne in July 1996, relocated from London to San Francisco in July 2003 and became the Albourne Group CEO in August 2015. John is an equity partner, member of Albourne’s Executive Committee and also chairs the firm’s Corporate Planning Council, which comprises Albourne’s function and region heads. John helped develop the firm’s proprietary risk analytics and was formerly the Senior Analyst for quantitative equity strategies and multi-strategy hedge funds. John remains a Portfolio Analyst working with several public and corporate plans, large endowments and foundations. John holds a first class Mathematics Degree and a PhD from Sussex University.


Albourne is an independent non-discretionary advisory firm focused on hedge funds, private equity, real assets, real estate and dynamic beta. Founded in 1994, Albourne has over 260 clients with more than $400bn invested directly in alternative investments.

 

 

Stephen Cummings, CFA, CEO, Senior Partner, Aon Hewitt Investment Consulting

 

Stephen Cummings is the Head of North America Aon Hewitt Investment Consulting, one of the largest providers of investment consulting services to institutional investors. He leads approximately 300 investment consulting professionals with over 480 clients. Steve serves as the primary consultant for select retainer and project clients. Steve is ultimately responsible for the success of the North America investment consulting practice.


Steve’s client work has included the coordination and implementation of multiple defined benefit and defined contribution plans into a consolidated structure for a multi-billion dollar corporate client and the oversight of complex alternatives programs for several large public funds. He also served as the team leader for Aon Hewitt Investment Consulting’s work with the U.S. Treasury Department during its TARP initiative and served as advisor to the State Treasurer and interim CIO of a multi-billion dollar state retirement system during a transition period between CIOs.


Steve serves on the Aon Hewitt Global Investment Practice Committee, the group responsible for setting the strategic direction of the global investment consulting practice and coordinating consulting efforts around the world. Steve also has ultimate responsibility for Aon Hewitt Investment Consulting’s U.S. Investment Committee, tasked with developing and vetting the firm’s investment beliefs before they are rendered as advice to our clients. Steve is responsible for thought leadership within the firm and serves in an advisory capacity on research efforts such as those related to derivatives, private equity, and emerging investment opportunities. He is a sought-after industry expert and frequently speaks before industry groups on a broad range of topics including soft dollars, public fund oversight, portfolio construction, and the evolution of the consulting industry.


Steve joined EnnisKnupp (the predecessor firm to Aon Hewitt Investment Consulting) in 1989 as a consultant and later rejoined in 2000 as the president and Chief Executive Officer. Prior to rejoining EnnisKnupp, Steve was the president of Marquette Associates from 1997–2000. He holds a B.S. degree from the University of Texas and an M.B.A. degree from the University of Chicago. He is a CFA charterholder and is a member of the CFA Institute and Investment Analyst Society of Chicago (IASC). He is also a member of the Board of Trustees of Kohl’s Children’s Museum of Greater Chicago.

 

 

Celia Dallas, Chief Investment Strategist, Cambridge Associates LLC

 

As Chief Investment Strategist for Cambridge Associates and a Managing Director of the firm, Celia is responsible for formulating our global investment strategy and portfolio construction advice. Since joining Cambridge in 1996, Celia has contributed to a wide range of research initiatives, including serving as one of the main architects of our Risk Allocation Framework and an author of the related report. She is a regular contributor to our research publications, covering a wide range of capital market, asset allocation, and investment planning topics. Celia is a frequent presenter and discussion moderator at the firm’s roundtables and various industry conferences.

 

Before joining Cambridge Associates, Celia was a consultant for Harlan Brown & Co, a competitive intelligence consulting firm. In this position, she researched, wrote, and presented market analysis commissioned by Fortune 500 clients on a variety of consumer and industrial products. She also worked for the Employee Benefit Research Institute (EBRI), where she conducted research and wrote reports on retirement income security issues.

 

Education and Professional Credentials

  • MBA, Darden School of Business, University of Virginia
  • BA, University of Pennsylvania

 

 

Kristen Doyle, CFA, Partner, Head of Public Pension Funds, Aon Hewitt Investment Consulting

 

Kristen is a Partner within AHIC, leads the firm’s public fund business, and is a member of the firm’s client advisory group. As the head of public funds, Kristen is responsible for new business development and ensuring that AHIC has the right resources, research, and expertise necessary to properly service public sector clients. She assists with client projects that require her expertise. She currently works with eight retainer consulting clients, where she is either the lead or co-lead. These clients range from $200 million to $400 billion in assets under management and are primarily public pension plans and foundations/endowments. She is responsible for assisting these plans with asset allocation advice, risk budgeting, asset/liability reviews, investment policy development, benchmarking, manager selection and structure, and asset class structure. She is also responsible for reporting and monitoring the investment programs and has been instrumental in structuring public fund performance reports for staff and the board as well as other reports such as risk exposure reporting for both traditional and alternative asset classes and risk management reporting. She is part of the public fund interest group at AHIC, which is a subset of consultants who specialize in issues facing public pension funds.


Kristen previously led the trust services team in the U.S. focused on custody, securities lending, and transition management. This team also supports the firm in other areas that include foreign exchange, transaction cost analysis, and commission recapture. The team assists clients with searching for vendors in these three areas, structuring a custody or securities lending relationship, and assessing the risks associated with these programs from an operational perspective. With regard to transition management, Kristen was also previously the global head of transition management, responsible for managing the transition management research and implementation team in the U.S., UK, and Canada.


Prior to joining the firm in 2005, Kristen worked at Northern Trust in the custodial operations group for more than two years. She has a Bachelor of Arts in economics from Denison University. She is a CFA charterholder and member of CFA Institute and the CFA Society of Chicago.

 

 

Derek Drummond, CAIA, Managing Analyst, State of Wisconsin Investment Board

 

Derek Drummond, CAIA is a Managing Analyst and member of the Analytics and Funds Management team at the State of Wisconsin Investment Board.  Derek’s primarily responsibilities include the sourcing, evaluation and implementation of investment managers across both traditional and alternative strategies. He has extensive experience building frameworks for manager evaluation, portfolio construction and risk management.

 

 

 

 

 

Peter E. Ehret, CFA, Director of Internal Credit, Employees Retirement System of Texas

 

Peter Ehret, CFA, heads ERS’ internal high yield investing effort, which he established in 2013. He developed ERS’ high yield investment process and infrastructure and continues to develop the portfolio and team.

 

Prior to ERS, Mr. Ehret was head of high yield investments and lead portfolio manager at Invesco, Ltd., where he led the turn-around of a struggling team, implemented a new investment process and created a top quintile ten- year performance record. At Invesco, he managed more than $3 billion in assets in a variety of structures. Before it was sold to Invesco, Mr. Ehret worked at Van Kampen Investments, where he was director of high yield research, a portfolio manager who worked to re-draw the investment process and lead portfolio manager for closed-end funds. While at Van Kampen, he also gained experience with investment grade and municipal securities. Prior to that, Mr. Ehret worked in commercial real estate finance at the Bank of Nova Scotia. Throughout his career, Mr. Ehret has contributed as an analyst generating investment ideas.

 

Mr. Ehret earned a B.S. in Economics with honors from the University of Minnesota-Twin Cities and an M.S. in Business from the University of Wisconsin-Madison. He is also a
CFA® charterholder.

 

 

Allan Emkin, Managing Director, Pension Consulting Alliance, LLC, (PCA)

 

Allan Emkin founded Pension Consulting Alliance, LLC in 1988, with offices in Los Angeles, New York City, and Portland, Oregon.


Long a member of the consulting community, Mr. Emkin has 32 years of general consulting experience emphasizing public plan administration and investment policy, as well as international, global, and real estate investments. 


Mr. Emkin was a Vice President at Wilshire Associates before forming PCA in 1988.  Prior to his work in the consulting field, Mr. Emkin worked in the California Governor’s office in the Pension Investment Unit.  Before joining the Brown administration, he was a registered lobbyist for 10 years specializing in affordable housing and other matters affecting low-income families.


Mr. Emkin is a frequent speaker at various conferences and educational seminars and has long standing relationships with Liberty Hill Foundation in Santa Monica, California as well as The Labor and Worklife Program at Harvard University.

 

 

Scott C. Evans, CFA, Deputy Comptroller - Asset Management, Chief Investment Officer, New York City Office of the Comptroller, Bureau of Asset Management

 

Scott C. Evans is the deputy comptroller for asset management and chief investment officer for the $160 billion New York City Retirement Systems, the fifth-largest public pension fund in the United States providing retirement benefits to over 700,000 members, retirees and their beneficiaries.


Prior to his appointment Mr. Evans was most recently Executive Vice President of TIAA-CREF and President of its Asset Management subsidiaries, which managed nearly $500 billion in proprietary investment assets.
In addition to his investment role with New York City, Mr. Evans currently serves as a member of the investment committees of the William T. Grant Foundation, Member of the Endowment Investment Committee at Tufts University and the Dutch pension fund ABP.


Past external roles include trustee of the IFRS Foundation, which sets accounting standards for more than 100 countries, member of the Securities and Exchange Commission’s Advisory Committee on Improvement to Financial Reporting, Trustee of Barnard College, Dean’s Advisory Council at Northwestern University’s Kellogg School of Management and chair of the Finance Committee for the Rockefeller Family Fund. 


Mr. Evans holds the Chartered Financial Analyst (CFA) designation and is a member of the New York Society of Security Analysts. He earned an M.M. from Northwestern University’s Kellogg School of Management and a B.A. in Economics from Tufts University.

 

Rob Feckner, President, Board of Administration, California Public Employees' Retirement System, (CalPERS)

 

Mr. Feckner is in his 38th year with the Napa Valley Unified School District, where he is employed as a glazing specialist. He has also worked as a school bus driver and instructional assistant for special needs students. Mr. Feckner has completed the Trustees Masters Program. He has completed the CAPPP program in pension administration from the International Foundation of Employee Benefit Programs, as well as the CAPPP program in health administration.


Mr. Feckner is a past president of the California School Employees Association and past executive vice president of the California Labor Federation. He is a member of the Napa County Democratic Central Committee.


He and his wife live in Napa, California.

 

 

Steve Foresti, Chief Investment Officer, Wilshire Consulting

 

Steve Foresti is based in Wilshire’s Santa Monica, California office and heads Wilshire Consulting’s research efforts, including the development of asset class assumptions for use in Wilshire’s asset allocation process.  Throughout his tenure at Wilshire, he has worked directly with large institutional investors of all types: public and corporate defined benefit plans, foundations, endowments and insurance companies.  Mr. Foresti serves as chair of Wilshire Consulting's Investment Committee, chair of Wilshire's 401-k Committee and is a member of Wilshire’s Manager Research Oversight Committee and Wilshire’s Index Oversight Committee.

 

Mr. Foresti joined Wilshire in 1994 and brings more than 20 years of capital market experience.  Prior to joining Wilshire Consulting, Mr. Foresti spent nine years with Wilshire Analytics where he developed and supported quantitative attribution and risk models within the Wilshire Quantum SeriesSM of investment analytics.  Before joining Wilshire, Mr. Foresti worked in Morgan Stanley's Mutual Fund Division (formerly Dean Witter Inter-Capital) where he acted as a liaison between the firm’s portfolio management team and sales force.  Mr. Foresti has also authored papers on a broad range of topics across both the traditional and alternative investment areas.  He holds a B.S. in Finance from Lehigh University and a M.B.A. in Finance & Accounting from the University of Texas at Austin.

 

David E. Francl, Managing Director of Absolute Return, San Francisco Employees' Retirement System, (SFERS)

 

David Francl is Managing Director of Absolute Return for the $20 billion San Francisco Employees’ Retirement System (SFERS).   Prior to joining SFERS in 2016, David was Director of Retirement Investments for Intel Corporation, and responsible for management of its $3 billion hedge fund portfolio, and asset allocation, attribution, cash management, reporting and risk for $15 billion of retirement assets.  David’s educational background includes a BBA from the University of Wisconsin and MBA from the Haas School of Business, UC – Berkeley.  David is a frequent speaker at investment industry events and guest lecturer at the Haas School of Business, UC-Berkeley.  Additionally, he is a Certified Public Accountant.

 

 

Ronald Funderburk, Investment Director, Credit & Inflation, North Carolina Department of State Treasurer

 

Ronald Funderburk is an Investment Director for the North Carolina Department of State Treasurer. He is responsible for the Inflation Sensitive and Opportunistic Fixed Income portfolios. Ron has been instrumental in the Opportunistic Fixed Income portfolio’s strong since inception performance. Ronald earned his MBA from Harvard Business School and graduated Summa Cum Laude from North Carolina State University with a BS and MS in Computer Engineering. Prior to North Carolina Retirement System, he worked at Ernst & Young

 

 

 

 

Brian Golob, Global General Counsel & Chief Compliance Officer, Russell Investments

 

Brian Golob is Global General Counsel and Chief Compliance Officer for Russell Investments. Brian is responsible for providing strategic direction for Russell’s global legal functions and for Russell’s regulatory compliance programs globally. Brian has held leadership roles in Compliance and Legal since 2009.


From 2007 to 2008, Brian was managing director of strategic development for Russell’s implementation services, where he was responsible for business intake, new products and service development, and the business’s control functions including unit governance, compliance, and operational risk management.
Brian was managing director of business services for Russell’s institutional business group from 2004 to 2007, with responsibility for overseeing development and management of Russell’s U.S. institutional business infrastructure, including plan administration, risk management, policy development, product management, compliance and finance.


From 2000 to 2003, Brian was representative director for business and corporate services, responsible for overseeing the development and management of the business infrastructure in Russell’s Japan office.
Prior to his posting to Japan in 2000, Brian was associate general counsel, responsible for advising the Russell companies in connection with corporate finance, transactions, general corporate matters, and Russell’s alternative investments, in addition to supporting Russell’s operations in Japan. He joined Russell in June 1998.


Before joining Russell, Brian was a senior attorney with Bogle & Gates P.L.L.C. in Seattle, where his practice focused on corporate finance and international transactions. Between 1994 and 1996, Brian was seconded from Bogle & Gates to Nagashima & Ohno in Tokyo, where he worked as a foreign legal consultant on international corporate transactions, joint ventures, and securities and banking matters.

 

 

Brian Guthrie, Executive Director, Teacher Retirement System of Texas

 

Brian K. Guthrie serves as executive director of the Teacher Retirement System of Texas (TRS), the sixth largest public pension fund in the United States.

 

With a staff of approximately 550 employees, TRS delivers retirement and health benefits as authorized by the Texas Legislature and manages an approximately $127 billion trust fund established to finance member benefits. More than 1.4 million public education and higher education employees and retirees participate in the system.

 

Under Brian’s leadership, TRS conducted a legislatively mandated study of TRS’ active member and retiree health care programs. The study resulted in legislative changes that secured the long-term sustainability of the pension trust fund and provided many annuitants with their first cost-of-living adjustment in over a decade. In addition, the agency launched the multi-year TRS Enterprise Application Modernization (TEAM) program, which is now under way. TEAM will replace aging legacy systems and improve internal processes to help ensure TRS continues to provide excellent service to its growing membership.

 

Brian has an extensive background in state government, legislative relations, budgeting, and finance. Before becoming executive director, he served for three years as deputy director of TRS. Prior to that, he worked in the Texas Governor’s Office of Budget, Planning and Policy for eight years; served as a budget advisor to two lieutenant governors; and began his career at the Legislative Budget Board. In addition to his familiarity with state budget policy, Brian has also worked on higher education, criminal justice, public retirement systems, and state health insurance issues.

 

Brian has a master’s degree in public affairs from the LBJ School of Public Affairs, UT-Austin, and bachelor’s degrees in economics and history, magna cum laude, from Franklin and Marshall College, Lancaster, Pennsylvania. Brian recently celebrated his 24th year as a non-native Texan and lives in Austin with his wife and three children.

 

 

Mark Higgins, CFA, Consultant, RVK, Inc.

 

Mark joined RVK, Inc. in 2009 and serves as a Consultant from the firm’s headquarters in Portland, OR. As a consultant, Mark advises a broad range of clients, but focuses primarily on foundations, endowments, and corporate DB plans.  In addition to his consultant responsibilities, Mark serves as the Chair of the firm’s Editorial Board.  In this role, Mark oversees the production of the Investment Perspectives publication, as well as strategic research studies.  In February 2015, RVK published its first strategic research study, entitled Investment Committee Best Practices.  The study presents the findings from a one-year research study, which involved an exhaustive literature review, completion of multiple surveys of investment professionals, and interviews with more than 30 investment committee chairs, staff, and industry thought leaders.   The purpose of the study is to address the fact that many investment committees face similar operational and strategic challenges, but are unable to address them collectively because they tend to operate in silos. This study is intended to accelerate improvement efforts by revealing these common challenges and sharing key insights, tactics, and case studies that may help resolve them. 


Mark graduated Magna Cum Laude and Phi Beta Kappa from Georgetown University with a Bachelor of Arts degree in English and Psychology. He also has a Master of Business Administration degree from the Darden School of Business at the University of Virginia. Mark holds the Chartered Financial Analyst designation. He is a member of both the CFA Institute and the CFA Society of Portland.

 

 

Allen Huang, Director of Fixed Income, Indiana Public Retirement System, (INPRS)

 

Allen is the Director of Fixed Income at the Indiana Public Retirement System (“INPRS”). He manages a $10.5B fixed income portfolio compromised of a $5.0B nominal portfolio and a $2.5B inflation portfolio in the defined benefit (“DB”) plan, and a $3.0B nominal portfolio in the defined contribution (“DC”) plan. His primary responsibilities include asset allocation, investment manager evaluation and selection, investment guideline and contract negotiation, and portfolio monitoring. Prior to joining INPRS in 2011, he worked at Barclays Capital and GE Capital. Allen holds an MBA from the University of Southern California and a bachelor’s degree in finance from Northeastern University.

 

 

Pete Keliuotis, CFA, Senior Managing Director, Cliffwater LLC

 

Pete is a Senior Managing Director of Cliffwater LLC in our New York office and a member of our portfolio advisory team. Prior to joining Cliffwater in 2014, Pete was a Managing Director and CEO of Strategic Investment Solutions where he led the general and private markets consulting teams and consulted to several large institutional investors. Previous experience includes working as a principal and senior consultant at Mercer Investment Consulting and working at Hotchkis and Wiley and Northern Trust Company.


He earned a BS in Economics from the University of Illinois at Urbana-Champaign, his MBA in Analytic Finance from the University of Chicago Booth School of Business, and holds the Chartered Financial Analyst® designation.

 

R. Dean Kenderdine, Executive Director, Maryland State Retirement and Pension System

 

R. Dean Kenderdine was named Executive Director of the Maryland State Retirement and Pension System effective January 17, 2007. Mr. Kenderdine is chief executive officer of a system that administers retirement, disability, and death benefits on behalf of more than 394,000 active, vested, and retired State employees, teachers, state police, correctional officers, other law enforcement officers, judges and legislators. He is an active member of the National Association of State Retirement Administrators (NASRA) and the National Council on Teacher Retirement (NCTR). Mr. Kenderdine currently serves as President for NASRA and serves on the Legislative Committee for NCTR.


Mr. Kenderdine has dedicated his career to public service. Prior to this appointment, Mr. Kenderdine served as Chief of Staff for the Comptroller of Maryland, Assistant Secretary of Tourism, Film and the Arts for the Maryland Department of Business and Economic Development, District Director and State Director for United States Senator Barbara A. Mikulski, and program director for the Maryland Department of Human Resources.


Mr. Kenderdine has served as a member of the Board of Directors for a number of non- profit organizations, and presently serves on the Board of Goodwill Industries of the Chesapeake.


Mr. Kenderdine holds a Master’s degree from the University of Maryland and a Bachelor’s degree from Arizona State University.

 

 

William D. Lee, CFA, Chief Investment Officer and Vice President, Foundation & Pension Investments, Chair Investment Committee, Kaiser Permanente

 

William Lee is Chief Investment Officer and Vice President of Foundation and Pensions Investments at Kaiser Permanente. He has served as chair of Kaiser Permanente's Investment Committee since 2005. Bill oversees approximately $75 billion in defined contribution, pension and foundation assets. He managed interest rate and foreign exchange risk for Bank of America's global proprietary desks in the 1980's, then left for eight years to work as a police detective. In 1994 he returned to Bank of America, where he helped develop equity and fixed income risk models before becoming senior vice president and chief investment officer for Bank of America's retirement plans. Bill managed the Levi Strauss Foundation and Red Tab Foundation assets as well as the Levi Strauss domestic and international retirement plans. He is a chartered financial analyst (CFA) and graduate of Harvard Business School’s Executive Leadership Program. 

 

 

Stephen P. McCourt, CFA, Co-CEO, Managing Principal, Meketa Investment Group, Inc.

 

Mr. McCourt joined Meketa Investment Group in 1994 and has over 20 years of investment experience. Mr. McCourt is a Managing Principal and Co-Chief Executive Officer of the firm. He serves as the lead consultant for several institutional funds, with public, Taft-Hartley, endowment, and non-profit plan sponsors. His consulting work includes investment policy design, strategic and tactical asset allocation modeling, asset-liability modeling, investment education, and investment manager analysis. In addition, Mr. McCourt is a member of the firm’s Private Markets Investment Committee, Investment Policy Committee, Global Macroeconomic/Tactical Asset Allocation Committee, and manages the firm’s external Global Macroeconomic Advisory Committee.


Mr. McCourt sits on the Steering Committee of the University of California, San Diego (UCSD) Economics Roundtable. He speaks at numerous industry events including the Investment Education Symposium, the Corporate Funds Summit, the Endowment and Foundation Forum, the Global Investing Summit, the Private Equity Summit, and the International Foundation of Employee Benefit Plans (IFEBP) Annual Employee Benefits Conference. Mr. McCourt’s research papers entitled “Monitoring Investment Managers” and “Pension Fund Investing and the State of American Public Finance” have been published in the IFEBP’s Employee Benefit Issues publication.


He received his graduate degree, a Master of Liberal Arts (ALM) in History, from Harvard University, and his undergraduate degree in Economics and Political Science from the University of Vermont. Mr. McCourt received the Chartered Financial Analyst designation from the CFA Institute and is a member of the CFA Society of San Diego. He is also a member of the International Foundation of Employee Benefit Plans.

 

 

Timothy F. McCusker, FSA, CFA, CAIA, Chief Investment Officer, Partner, NEPC, LLC

 

Tim joined NEPC in 2006 and began his career in the investment industry in 2002.  Tim is responsible for overseeing Investment Research at NEPC, a group of 45 professionals including dedicated teams focusing on Alternative Investments, Traditional Strategies, and Asset Allocation.  As CIO, Tim leads investment strategy development for NEPC including market assessment and outlook, communication of key themes and best ideas, as well as evaluation of investment strategies.  Tim also works closely with a wide variety of clients to construct investment portfolios to meet their long-term objectives.  Tim chairs the Partner’s Research Committee, and is a member of the Traditional and Alternative Research Due Diligence Committees and the Asset Allocation Committee.  Additionally, Tim is a member of the firm's Management Group.  In 2015 Tim topped CIO magazine’s 2015 annual ranking of the world’s most influential investment consultants in the Generalist consultant category. In 2014, Tim was recognized by CIO Magazine in their edition titled “The Knowledge Broker” as one of the top 25 of the world’s most influential investment consultants.  Tim ranked 6th out of the 25 consultants recognized.


Prior to becoming Chief Investment Officer, Tim served as NEPC’s Director of Traditional Research, overseeing long-only manager research and Asset Allocation.  Previously, Tim worked in Asset Allocation and Manager Research functions, where his responsibilities included maintaining and developing asset allocation models and frameworks used broadly by NEPC clients as well as Global Asset Allocation and Risk Parity manager research.  Before joining NEPC, Tim was an associate at Towers Perrin, where he provided actuarial consulting advice and addressed plan asset-liability issues for clients.


Tim earned his B.A. in Mathematics from Colgate University.  He is a Fellow of the Society of Actuaries (FSA), and holds the Chartered Financial Analyst (CFA) and Chartered Alternative Investments Analyst (CAIA) designations.

 

 

Girard Miller, CFA, Chief Investment Officer, Orange County Employees Retirement System, (OCERS)

 

Girard Miller is the Chief Investment Officer of the Orange County Employees Retirement System, OCERS.  He is one of the nation’s most widely published authorities on public finance, investments and retirement systems finances, and has recently attracted national attention for his innovative work on investment procurement, fee management, contractual income strategies and portfolio risk management.  Previously, Girard was the senior strategist at the PFM Group, working with state and local governments as a consultant in the fields of retirement plan investments and sustainable retirement plans. During that period he authored over a hundred columns on public finance and pension fund investments for Governing Magazine.  In 2008 he was a voting member of the Governmental Accounting Standards Board. On the private-sector side, Girard was the president of the Janus mutual funds and was Chief Operating Officer of Janus Capital Group, Inc., a global investment company with $170 billion of assets under management. Prior to that, he was the president and chief executive officer of the ICMA Retirement Corporation for ten years after heading Fidelity Investments’ public funds group.  Earlier in his career he was the technical services director for the Government Finance Officers Association, where he authored the renowned GFOA textbooks Investing Public Funds and Pension Fund Investing. He is a Chartered Financial Analyst (CFA).

 

 

Michael J. Moy, Managing Director, Pension Consulting Alliance, LLC, (PCA)

 

Michael Moy is a Managing Director and member of the Board of Directors and Pension Consulting Alliance, LLC. (PCA) since March 2005 where he specializes in private equity. He has conducted strategic reviews of the CalPERS and New York City Pension Plans private equity programs. He serves as the Lead on PCA’s private equity consulting relationship with CalPERS and he also works with other clients on investment policy development, portfolio structuring, manager due diligence and specialized research.


Previously, Mr. Moy was a Managing Director at Pacific Corporate Group, Inc. where he was a member of the Board of Directors and co-leader of the group responsible for evaluating, recommending, and monitoring private equity investments for public institutional clients (CalPERS, Oregon PERS, Employees’ Retirement System of Rhode Island, and the Fire & Police Pension Association of Colorado). 


Mr. Moy is a certified public accountant (inactive) who spent twenty-nine years with KPMG LLP where he was the regional leader of an acquisition advisory practice and the Managing Partner of several offices. He has also been the acting CFO for several troubled private equity fund portfolio companies.


Mr. Moy received his Bachelor of Business Administration from St. John’s University.

 


Eileen L. Neill, CFA, Managing Director, Wilshire Consulting

 

Eileen Neill, a Managing Director with Wilshire Associates, is a member of Wilshire Consulting.  She is one of six consulting team leaders responsible for providing investment consulting services to institutional plan sponsors including public pension funds, private pension plans, endowment / foundations, and insurance companies.  These services include asset / liability studies, investment policy development and implementation, manager evaluation, selection and monitoring, performance measurement and evaluation, asset class and investment strategy research, plan sponsor education, and custom projects.  Ms. Neill has been a consulting team leader at Wilshire for over ten years and has worked predominantly with large public pension funds with assets ranging from $5 to $150 billion during this period in the development and implementation of their respective investment programs.  In addition to defined benefit plan consulting, Ms. Neill also engages in consulting to defined contribution plans, endowment/foundations, healthcare operating funds, and taxable clients.

 

Ms. Neill’s background at Wilshire includes development of attribution models and asset class and capital market research which resulted in white papers as well as dozens of asset / liability studies for both tax-exempt and taxable investors.  Additionally, she has spoken at many conferences on a variety of subjects including derivatives investing, strategy implementation, performance-based fees, and portable alpha.  Ms. Neill has been a Wilshire shareholder since 1998 and sits on Wilshire Consulting’s investment committee as well as on the Fixed Income and Specialty Fixed Income committees.

 

Prior to joining Wilshire in 1988, Ms. Neill was a senior financial analyst at Ford Aerospace Corporation. Ms. Neill was responsible for profit and budget forecast development, capital expenditure analysis, new business proposal development, and all financial reporting at the product line level.  Ms. Neill earned a B.S. in Marketing Research from the University of Arizona and an M.B.A. in Finance from Chapman University.  She holds a Chartered Financial Analyst designation and is a member of the Los Angeles Society of Financial Analysts.

 


 

Yvonne Nelson, Head of Real Estate, New York City Office of the Comptroller, Bureau of Asset Management

 

Yvonne Nelson is the Head of Real Estate at the Office of the NYC Comptroller and directs such investment activities on behalf of the NYC Retirement Systems.  She is responsible for the design, implementation and oversight of this investment program. Real estate is part of a 6% allocation to real assets among the five NYC Systems, which represents a potential capitalization approaching $10 billion for the asset class.

 

 On a committed and invested basis, the exposure to real estate is approximately $9.5 billion and is comprised of investments that are well diversified in terms of strategy, geography, property type and investment structure.

 

Ms. Nelson joined the Office of the NYC Comptroller in 2005. Prior to the Comptroller’s Office, Ms. Nelson worked with the NYS Common Retirement Fund as a Real Estate Investment Officer for thirteen years. She holds a B.A. from New York University and a M.B.A. from Rutgers University.

 

 

Stephen L. Nesbitt, CEO, CIO, Cliffwater LLC

 

Steve is Chief Executive Officer of Cliffwater LLC and oversees all investment research as the firm’s Chief Investment Officer. Prior to forming Cliffwater in 2004, Steve was a Senior Managing Director at Wilshire Associates.  From 1990 to 2004, Steve led the Consulting division at Wilshire Associates and also started and built its asset management business using a 'manager of manager' investment approach, including private equity and hedge fund-of-fund portfolios.  Steve started his career at Wells Fargo Investment Advisors, an early pioneer in index funds, where he developed and managed index funds and oversaw asset allocation.


Steve is recognized for his investment research.  His articles have appeared in the Financial Analysts Journal, The Journal of Portfolio Management, and The Journal of Applied Corporate Finance on issues covering performance fees, currency hedging, gauging private equity performance, and corporate governance.  His “firsts” include creating a “smart” index fund (1979); measuring the benefits of corporate governance and coining the term “CalPERS Effect” (1994); designing and implementing an institutional performance fee structure (1987); measuring the cost of “Buy High, Sell Low” in mutual fund cash flows (1995); creating State Pension Surveys on Funding (1991) and Performance (2012); and measuring the private-to-liquid alternatives performance discount (2013).


Steve is best known for his research on Asset Allocation and Portfolio Construction, covering over 30 years of annual long term expected returns and risk across asset classes.  At Cliffwater, he has led research on the components of hedge fund return and risk and proper construction of a portfolio of hedge funds. 
Steve graduated summa cum laude, with a BA in Mathematics and Economics from Eisenhower College (Rochester Institute of Technology), and an MBA, with Distinction, from The Wharton School at The University of Pennsylvania.

 

 

Ronald D. Peyton, Chairman & CEO, Callan Associates, Inc.

 

Ronald D. Peyton is Chairman and Chief Executive Officer for Callan Associates Inc., an employee-owned firm whose mission is: “Collaborating with each client to build tailored and lasting investment solutions.”


Ron provides firm-wide oversight by conferring with associates and clients to improve communications, process, and service quality. He regularly meets with senior industry professionals and actively engages in industry and community events to advocate for the institutional investment industry. Ron is Chairman of Callan’s Management Committee and the Emerging and Minority, Women, or Disabled-owned Managers Committee. He is Chairman of Callan’s Board of Directors and a shareholder of the firm.


He serves on the Board of the United Way of the Bay Area, for which he is the Development Committee Chair. He also serves as Chairman of CFA Institute Asset Manager Code of Professional Conduct Advisory Committee, and is a member of the Strategic Advisory Committee for the CFA Society San Francisco. Ron serves as “Counselor” for the Indiana University Kelley School of Business Dean’s Council. He is also an advocate for the Vista Center for the Blind and Visually Impaired, which Callan has supported for more than 20 years.


Ron was past President of the Governing Board of the Filoli Center (an historic site of the National Trust for Historic Preservation), where he still serves on the Board and Executive Committee. He is a former member of the Advisory Board of the University of California, Berkeley Extension and the Castilleja School Investment Committee. From 1990 to 1999, he served on the Association for Investment Management and Research (AIMR, now known as CFA Institute) Performance Standards Implementation Committee (now known as Global Investment Performance Standards, or GIPS) and was Chairman of the real estate sub-committee.

 

Prior to joining Callan in 1974, in addition to other financial responsibilities, Ron worked with Marathon Oil Company’s pension investments while serving as an officer in the U.S. Army Reserve. Ron earned an M.B.A. degree in Finance and a B.S. degree in Accounting at Indiana University.

 

 

Donald Pierce, CFA, Chief Investment Officer, San Bernardino County Employees' Retirement Association

 

Mr. Pierce serves as the Chief Investment Officer for the San Bernardino County Employees’ Retirement Association (SBCERA), where he has been part of the investment team since 2001. He works directly with the Board on developing policy and investment goals, implementing investment objectives and the selection of investment managers, and is responsible for the day-to-day operation of the investment division.  

 

During his tenure with SBCERA, Mr. Pierce introduced international private equity, emerging market debt, and option strategies into the plan’s mix. Additionally, he developed a UAAL forecasting model and he has spearheaded a new rebalancing methodology for the fund.

 

Mr. Pierce earned a Bachelors of Science in Statistics from San Diego State and is a CFA charter holder. He is a member of the CFA Institute and has shared his professional expertise with various professional organizations.

 

 

Kirk T. Rostron, Board of Trustees, Investment Committee, Florida State University Foundation

 

Kirk T. Rostron is a Partner of Mercury Capital Advisors.  He was previously Founder and Managing Partner of the Mt. Vernon Group, an alternative investment placement agent.  Prior to that, Mr. Rostron served as a Director in Merrill Lynch’s Hedge Fund Development and Management Group focusing on worldwide private placement of alternatives. He was also Director and Head of U.S. Capital Introduction in Merrill Lynch’s Global Equity Finance and Services Group, which he started. He previously served as COO and Executive Vice President for Hovde Capital Advisors. Earlier, he founded and later sold Hedgecall.com, a service of Investor Broadcast Network that was seeded by Intel Capital Group, Safeguard Scientific, and Paine Webber. He is also the founder of the No Greater Sacrifice Foundation, (‘NGS”) whose nationwide mission is dedicated to advancing the higher education of the children of America’s fallen and wounded service members.  He also serves as a Trustee on the Board of the Florida State University Foundation and the Board of Governors for the Florida State University School of Business. 

 

 

Kelli Schrade, CFA, CAIA, Managing Partner, Director of Manager Research, Marquette Associates, Inc.

 

Kelli Schrade is the director of manager research for Marquette Associates, with primary oversight of the domestic equity managers. An owner of the firm, Kelli has been with the company since 2006. She serves as the chair of both the traditional and alternative investment manager search committees.

Before joining Marquette, Kelli was an investment advisor with Christian Brothers Investment Services. She also served as a managing editor and fund analyst at Morningstar, Inc. for seven years, specializing in domestic-equity funds. Kelli has been quoted as an expert on investments throughout the national media, including Barron's and The Wall Street Journal. She has been a featured speaker at leading industry conferences on all aspects of manager due diligence and selection.

Kelli holds a BA in English from Kenyon College and is currently pursuing an MBA from the Kenan-Flagler Business School at the University of North Carolina - Chapel Hill. She holds the Chartered Alternative Investment Analyst designation and is a member of the CAIA Association®.  In addition, Kelli is a member of the CFA Institute, the CFA Society of Chicago, NASP (National Association of Securities Professionals), and the Executives’ Club of Chicago. She previously served as membership chair for Women Investment Professionals - Chicago.

 

 

John D. Skjervem, CFA, Chief Investment Officer, Oregon State Treasury; Oregon Investment Council

 

Mr. Skjervem leads an investment team at the Oregon State Treasury (OST) that manages a financial and real asset portfolio valued at $86.6 billion as of September 30, 2015.  That portfolio includes the $68.1 billion Oregon Public Employees Retirement Fund and various other educational, insurance and state agency accounts.

 

Prior to his appointment at OST, John held a variety of portfolio management and leadership positions at Northern Trust including Chief Investment Officer for the firm’s $170 billion (AUM) Personal Financial Services division.  John started his career as an associate economist for consultants Natelson Levander Whitney, and also worked as a public finance specialist for investment bankers Ehrlich Bober & Co.

 

John earned an M.B.A. with concentrations in finance and statistics from the Booth School of Business at the University of Chicago, and received a bachelor’s degree in Economics from the University of California at Santa Barbara.  He holds the Chartered Financial Analyst designation, and serves on the Pacific Pension Institute’s board of directors.  John is also a former director of the CFA Society of Chicago and honorary board member for the St. Francis Foundation in Santa Barbara, CA.

 

 

Gregory W. Smith, Executive Director, Colorado Public Employees' Retirement Association

 

Gregory W. Smith is the Executive Director of Colorado PERA, which provides retirement and other benefits for more than 500,000 current and retired Colorado employees. PERA has more than $44 billion in defined benefit assets and over $3.5 billion in defined contribution assets.


Established by the Colorado General Assembly in 1931, PERA is the nation’s 22nd largest public pension plan. PERA administers a defined benefit pension plan, disability and survivor benefits, and other voluntary programs including defined contribution plans, health care, and life insurance.


Mr. Smith joined PERA in February 2002 as General Counsel and served as Chief Operating Officer prior to being named the Executive Director in 2012.


Under Mr. Smith’s leadership and direction, PERA remains a national leader on retirement security issues. Mr. Smith currently serves as chair of the National Institute on Retirement Security (NIRS), as well as serving on the Board of Directors for the Council of Institutional Investors (CII).


A recognized leader in the pension arena, Mr. Smith has presented and moderated on matters related to pension funds for a variety of organizations including the Fiduciary College at Stanford Law School, National Council on Teacher Retirement, Government Finance Officers Association, and the United States Treasury Department. Mr. Smith has testified before various committees, subcommittees, and roundtables of the U.S. House of Representatives, U.S. Treasury Department, and the U.S. Securities and Exchange Commission.


Prior to joining PERA, Mr. Smith was a litigation partner at Hamilton & Faatz, P.C. where he practiced in both the state and federal courts.


Mr. Smith is a fourth-generation Colorado native and holds a bachelor’s degree in Business Administration from the University of Colorado and a Juris Doctorate from the University of Denver.

 

 

Ian Toner, CFA, Managing Director, Verus

 

Mr. Toner is responsible for ensuring that the research resources at the firm are focused on solving the real problems faced by the firm's clients, and on maintaining an appropriate balance between academic rigor and practical real-world client solutions. He has responsibility over all research, including manager research, capital markets research, topics of interest, and is a key contributor to the investment committee. He is particularly engaged in finding ways to ensure that new insights created at the firm are used across the whole range of clients of the firm, whether those clients are large or small, and whether the services those clients consume are discretionary or non-discretionary.


He joined Verus (formerly Wurts & Associates) in late 2013 from Russell Investments in Seattle, where he was most recently director, capital markets research in the investment division. He was at Russell for 7 years, and was particularly focused on two key areas: understanding the effect of currency risk on client portfolios, and understanding and managing the complex range of risks that clients and investors experience when interacting with Wall Street. Before Russell Investments he was an executive director at UBS Investment Bank in London, and a vice president at both Schroder Salomon Smith Barney and InterSec Research Corp. Earlier in his career he worked on the sell-side of the institutional markets in London, focused on European equity markets.

 

Mr. Toner has a degree in Law from the University of Oxford in the United Kingdom and holds the Chartered Financial Analyst (CFA) designation. He is a regular author and speaker on a range of investment topics.  He is a member of the CFA Institute and the CFA Society of Seattle.  He is also a board member at the Seattle Metropolitan Chamber of Commerce, where he also sits on the finance & audit committee. Additionally, he is a member of the advisory board of the Washington Council on International Trade.

 

 

Tom Tull, CFA, Chief Investment Officer, Employees Retirement System of Texas

 

Tom Tull, CFA, is the Chief Investment Officer at the Employees Retirement System of Texas (ERS). Previously, he was a founding partner of Gulfstream Global Investors, Ltd., an SEC-registered investment adviser specializing in international equity management that was sold to West LB of Germany in January 2001.


Mr. Tull is the former Director - Employee Benefit Fund Investments for The LTV Corporation and also served as President of Western Reserve Capital Management, Inc., the pension asset management subsidiary of The LTV Corporation. In this capacity, he was responsible for the investment of a $1.2 billion retirement trust. This responsibility included the management of a $90 million international equity portfolio and the management of the outside investment manager relationships.


Prior to joining LTV in February 1983, Mr. Tull served for seven years as Director - Pension Investments of The Cleveland-Cliffs Iron Company. He managed an in-house pension fund, introduced international investing and other diversification policies, and performed a variety of corporate duties. His investment career began in 1971.


While in the private sector, Mr. Tull provided his expertise to ERS as a member of the Investment Advisory Committee to its Board of Trustees. He served in this role for 11 years before joining ERS as the Director of Strategic Research, focused on developing ERS’ hedge fund program and further expanding its investment program.


Mr. Tull received a B.S. in Finance from Ohio State University and an M.B.A. from Xavier University, and is a CFA® charterholder. He also is a member of a variety of financial organizations. Mr. Tull is a U.S. Army veteran.

 

 

Laurie Weir, Investment Director, California Public Employees' Retirement System, (CalPERS)

 

Laurie Weir is an Investment Director participating on the leadership team of CalPERS Investment Office.  CalPERS portfolio is valued at approximately $300 billion.  The Investment Office is staffed with over 400 employees and an annual budget of approximately $2.4 billion.  CalPERS represents 1.7 million members and retirees. 

 

Laurie also leads the CalPERS Targeted Investment Programs overseeing key initiatives for all asset classes, such as Emerging and Transition Manager Programs and California investment strategies.  Laurie Chairs CalPERS Investment Office Diversity & Inclusion Steering Committee and manages labor stakeholder relations.  Laurie serves as an Advisory Board Member of the Robert Toigo Foundation.

 

Before joining CalPERS, Laurie served as Deputy Treasurer in the California State Treasurer’s Office. There, she was responsible for the oversight of tax credit and tax exempt bond allocations, and advisory services to California’s business, development, and finance communities.

 

 

Laura B. Wirick, CFA, CAIA , Principal, Investment Consultant, Meketa Investment Group, Inc.

 

Ms. Wirick joined Meketa Investment Group in 2008. She serves as the lead consultant for Public, Endowment, and Foundation clients, with a focus on investment and asset allocation policy, investment manager selection, and oversight of client portfolios, in addition to asset-liability modeling studies. Ms. Wirick is a member of Meketa Investment Group’s Marketable Securities Investment Committee, the Strategic Asset Allocation/Risk Management Committee, the public markets research team, and the private debt team.
Prior to joining the firm, she was a Senior Investment Analyst for the Dartmouth College Endowment. While at Dartmouth, she participated in setting asset allocation policy, and selecting and monitoring both traditional and alternative investment managers for the Endowment. Prior to that, she worked with endowments and foundations as a Senior Consulting Associate at Cambridge Associates, where her responsibilities included both qualitative and quantitative analysis of client portfolios and research on fund governance issues.

Ms. Wirick received a bachelor’s degree in Business Administration with concentrations in Finance and International Marketing from American University. She holds the Chartered Financial Analyst designation, and is a member of the CFA Society of San Diego. Ms. Wirick also holds the Chartered Alternative Investment Analyst (CAIA) designation and is a member of the CAIA Association®.

 

 

Steve Yoakum, Executive Director, Public School and Education Employee Retirement Systems of Missouri, (PSRS/PEERS)

 

M. Steve Yoakum has served as Executive Director of the Public School Retirement System of Missouri (PSRS) and Public Education Employee Retirement System of Missouri (PEERS) since June 1, 2001. Prior to his current service, he worked in the private sector as a managing partner of Rockwood Capital Advisors of St. Louis where he was responsible for overseeing the daily operation and general business activities of the firm. He previously served as PSRS/PEERS Executive Director from 1994-97, Executive Director of the Missouri State Employees' Retirement System (MOSERS) from 1987-94, Director of the Joint Committee on Public Employee Retirement of the Missouri General Assembly (JCPER) from 1985-87 and Assistant Director of the Missouri Local Government Employees' Retirement System (LAGERS) from 1978-85.


Mr. Yoakum is a graduate of the University of Missouri school of business with a degree emphasis in public administration. In addition to his public sector service, he has served as president of the National Association of State Retirement Administrators and the Southern Conference on Teacher Retirement. He was a member of the Board of Directors for the National Institute on Retirement Security, a trustee and member of the investment committee of the Columbia, MO Police Retirement Board, and a member of the Board of Directors of TALX Corporation in St. Louis for nearly 20 years. He also served as a member of the Board of Directors for the Coalition to Preserve Retirement Security and was Chair of Columbia, MO Mayor’s Blue Ribbon Pension Review Task Force.

 

 

Jennifer Young, Principal, The Townsend Group

 

Jennifer Young joined The Townsend Group in 2004 and is currently a Principal based in the San Francisco office.  Ms. Young provides advisory and consulting services to a number of the firm's institutional clients; predominately U.S. pension plans and Australian Superannuation Funds.  Ms. Young advises clients ranging from $6 billion to $35 billion in total pan assets and oversees total real estate allocations under advisement in excess of $8 billion.  As the Principal assigned to these accounts, Ms. Young provides clients with information related to Strategic Planning, Investment Planning, Manager/Fund Due Diligence, Benchmarking, and Portfolio Analysis.   Programs include investments in a wide range of structures including separate accounts, commingled funds and co-investments.  On behalf of The Townsend Group, Ms. Young is an Advisory Board member for the Global Real Estate Sustainability Benchmark (GRESB) and serves as Townsend’s signatory representative for the United Nations Principals of Responsible Investment (UN PRI).  Ms. Young also represents Townsend’s investor interests on various Advisory Committees and is a frequent speaker/panelist at industry events.  


Ms. Young is a member of the Pension Real Estate Association (PREA) Defined Contribution Plan Affinity Group, the California State Association of County Employees' Retirement Systems (SACRS) and Urban Land Institute (ULI).   Ms. Young was awarded the Institutional Investor/Money Management Intelligence designation for Rising Stars of Public Funds in 2013.  In 2014, she was appointed to the Board of Directors of Ohio University’s College of Business Society of Alumni & Friends.  


Ms. Young received a Bachelor of Business Administration in Finance and Business Law from Ohio University. 

 

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