Ron Hetzel, Cfa Email & Phone Number

Chicago. Il

Principal, Senior Manager Research Consultant• Perform due diligence on fixed income investment management firms and their strategies and make recommendations to Mercer’s consultants and clients regarding the capability of investment professionals and suitability of strategies.

RMB Capital, Senior Manager, Institutional Client Service (June 2017 – December 2017)• IronBridge combined with RMB Capital effective as of June 23, 2017.Director, Client Services (April 207 – June 2017)• Oversee all aspects of the client service function for an institutional investment management firm.• Responsibilities include working with current and prospective clients and consultants as it relates to the distribution of firm level and product specific information and assisting external parties in the completion of due diligence reviews. • Draft and negotiate the final terms of the firm’s separate account Investment Management Agreements (IMAs). Successfully negotiated new IMAs in seven different countries, including the Australia, Denmark, Germany, Norway, Switzerland, UK and US. Serve as a liaison with IronBridge’s outside legal counsel on an as needed basis.• Oversee the firm’s RFP process and maintain responsibility for the firm’s information that is stored on the various consultant databases and for responding to specific requests for information. • Maintain general knowledge of the firm’s existing client base (clients and consultants) and for monitoring and assessing the opportunity for new business. • Lead and/or participate in various research projects that relate to the firm’s marketing strategy, distribution channels and new product development. Assisted in establishing a Dublin-based UCITS III Fund and the establishment of a US Mutual Fund.

Principal, Manager Research Group (April 2001- March 2007)• Performed due diligence on investment management firms and their strategies and made recommendations to Mercer’s consultants and clients regarding the capability of investment professionals and suitability of strategies for institutional clients.• Covered domestic, international and global equity, and U.S. fixed income strategies. Served as the sector leader for U.S. fixed income.• Member of Mercer’s U.S. Manager Ratings Review Committee and International Fixed Income Manager Ratings Review Committee.U.S. Product Manager, Mercer Manager Performance Analytics (March 1999 – March 2001)• Managed all aspects of Mercer’s performance analytic software in the U.S.• Performed sales presentations, and internal and external training sessions.• Unit contributed positive net operating income in its first year of operation.

Investment Department (December 1997 to March 1999):• Developed and maintained daily, fixed income pricing capabilities for approximately $50 billion in public and private fixed income securities.• Acted as project manager to develop software to collect and analyze pricing data from multiple sources. Created models to calculate expected price movements based on yield curve and spread movements used to generate exception reporting. Worked with external vendors to resolve pricing discrepancies.• Assisted in the development of a daily pricing model for private placement bonds. Group Pension Department, Allstate Life Insurance Company (April 1989 to November 1997): • Managed the liability side of the stable value product line, which included setting sales capacity and interest crediting rates, and executing and monitoring derivatives positions.• Priced, negotiated and approved contracts for general and separate account stable value products, book value wrap products and funding agreements sold to the pension plans and money market funds. • Performed periodic asset liability analysis, including the annual Actuarial Opinion Memorandum. Recommended and implemented strategies to improve the portfolio’s duration match.

• Consulted clients on stable value plan design and investment issues.• Analyzed and negotiated the purchase of stable value and single premium annuities contracts.

• Underwrote new business prospects, and determined risk charges and interest crediting rates on stable value and single premium annuity contracts.• Modeled liability cash flows for use in asset liability analysis.