Ranking investment executive of a major $33 billion public pension fund. Member of plan’s Allocation Policy and Tactical Positioning Committees; selected and vetted investment managers, administered managers’, external consultants’ and service vendors’ contracts; recruited, mentored and administered staff. Headed public markets equities investments of the $19-plus billion invested in 35 mandates across domestic and international classes in active, indexed and systematic (“alternative” or “smart” beta) strategies that included seven indexed programs managed within the plan. • Developed imaginative paired dynamic portfolio structure of yield-tilt-plus-minimum variance systematic strategies that enriched risk-adjusted returns over basic indexation. • Conceived/orchestrated the ASRS/(Russell)BlackRock/Nomura/MSCI collaboration that established a successful, widely acclaimed equity risk factor overlay program.− Program precipitated the creation of institutional caliber risk-factor ETFs− Generated introduction of several similar programs, vehicles− Expanded the basis/means for risk-factor driven asset allocation− Garnered global interest from institutions and the investment press − Won Institutional investor 2015 Innovator of the Year

Contracted by the wealth management division (FNWM) of a Western U. S. regional bank to advise and refocus its wealth management division. The engagement involved strategic consulting on business structure and strategy, refining investment processes, extending and developing client investment class offerings to alernative asset categories (private equity, hedge funds and real estate programs); and securing for the unit greater internal leverage of IMS and accounting systems. The latter required leading an RFP for and overseeing the installation of a fully- functioning investment performance measurement system.• Identified supplemental decision-making procedures to complement existing investment disciplines. • Developed alternative assets program. Guided the evaluation and integration of support systems then developed and led a RFP for replacing the performance measurement system.

Executive officer of a $120 million commercial real estate investment manager. Recruited to help drive various initiatives, principally to establish an institutional presence.• Developed the infrastructure, marketing approach and associated materials for a real estate securities hedge fund• Directed the repositioning of the firm’s commercial real estate investment funds. • Initiated preliminary relationships in the institutional channel, negotiated terms for investment and explored the feasibility of a real estate fund capitalized by institutional investors.

Senior Consultant Advised 22 corporate, healthcare, foundation/endowment, municipal, and Taft-Hartley relationships for a leading middle-market investment consulting practice counseling over $20BN of assets. Developed investment policies, modeled risk/return, asset allocation across all asset classes on diverse portfolios. Evaluated investment manager style, performance attribution; conducted searches; negotiated contracts. Coordinated, oversaw the analytical team supporting the client relationship; maintained firm's accuracy, quality and timeliness standards . • Appraised, restructured the multi-billion equity portfolios of two significant property casualty insurers to lower risk and increase returns above their peer group. • Designed, implemented a successful multiple asset class program for $150 million corporate defined benefit plan to reduce its under-funding.• Increased performance of $300 million healthcare institution from third to first quartile.

Developed the Arizona-based equity fund management effort throughout a series of acquisitions and mergers from a $5.0 billion complex to a more than $20 billion mutual fund division of then global, Netherlands-based financial industry leader, ING. Managed four equity mutual funds and one balanced fund. Led investment policy committee, organized and managed analytical staff. Oversaw and coordinated contracts with systems and data vendors. • Restructured large-cap equity fund; 1999 performance in 6th percentile versus peers.• Produced a 30% savings in commissions and soft-dollar expenses.

Senior investment executive of the $50+ billion capital management division of First Interstate Bank Corporation. Co-founder, leader of the traditional and alternative assets management unit including separate accounts, and mutual and pooled funds. Direct report of the boards of the directors of the mutual funds and of FIB Corporation senior vice president.• A co-founder of the registered investment advisor of parent First Interstate Bank Corporation absorbed by Wells Fargo the 1996 acquisition of First Interstate Bank Corporation.• Developed, oversaw the implementation of, and compliance with, investment policies, strategies and portfolio composition. • Presented capital management group reports to the mutual funds’ and the corporation’s boards of directors • Drafted plan and successfully negotiated with three boards of directors to combine the respective organizations into a single fund company. • Merged over 30 mutual funds and consolidated 72 pooled funds within nine months to rationalize product line and reduce expenses by 20%.

Senior Vice President Chief Investment Officer 1993-1995Led the equity, fixed income and alternative assets investment management group for a $25 billion trust institution. Oversaw staff responsible for separate account and proprietary mutual funds management, direct investment, securities research, trading and administrative support. Chaired investment policy and security selection committees; presented to boards of directors and clients; functioned as fiduciary representative of the department for closely held interests. • Introduced model portfolio program that produced improved investment performance and more consistent product across the account base.• Implemented electronic order transmission and block trading techniques; client transaction costs reduced 40-50%.• Coordinated service providers, greatly improving the marketing program and support for the sales force.• Reorganized trust investment department along product lines promoting efficiency.Vice President Senior Portfolio Manager, Asst Dir of Research 1984-1990Managed $4.5 billion of equity and fixed-income corporate, public, Taft-Hartley and endowment accounts and four common trust funds totaling $900 million. Evaluated capital markets for strategy and asset allocation; analyzed/recommended securities. Member of securities selection committee; presented to board of directors and clients. Initiated private equity program and coal, oil and gas interests.• Investment performance contributed to securing $100 million in new assets.• Developed quantitative analyses for more useful strategy, security analysis and valuation; instituted sophisticated fixed-income evaluation.• Represented the trust company on the boards of its closely held corporations.

Managed corporate, Taft-Hartley, public retirement and endowment equity accounts, domestic and international mutual funds for $2.5 billion investment advisory firm. Researched and selected securities for technology and basic industry sectors within the firm’s model portfolio program.• Technology and basic industry portfolio sectors outperformed market l990 and l992, basic industry outperformed market in l99l.• Sector returns were major attributes of client portfolios outperforming that also precipitated more than $175 million in new accounts.