NISA - Key Persons

Aaron M. Johnson

Job Titles:

Director
Member of the Portfolio Management Team
Director, Fixed Income

Aaron is a director in the Fixed Income and Derivatives Portfolio Management Group. He is responsible for the daily strategy implementation and monitoring in fixed income accounts and analyzing the relative value of individual securities within the Fixed Income and Derivatives Portfolio Management Group. He is authorized to trade fixed income securities. Aaron joined NISA in 2001. During this time, he spent 16 months with Balyasny Asset Management and returned to the firm in June 2019. Prior to NISA, he worked for Navigant Consulting as a Change Management Consultant. He earned a BS in Finance from the University of Illinois at Urbana-Champaign.

Aleksandr G. Panchenko

Job Titles:

Senior Manager, Client Services

Alik T. Ulmasov

Job Titles:

Member of the Team
Senior Manager, Investment Strategies

Alik is a member of the team that develops proprietary financial modeling and engineering tools used throughout NISA. He also supports NISA's Strategic Portfolio Management team which is charged with maintaining hedge strategies including completion portfolios and exposure management strategies. Alik was recruited through NISA's internship program and joined NISA's Investment Strategies Group in 2011. He earned a BSBA in Finance with a minor in Computer Science from Washington University in St. Louis.

Alison M. Briggs

Job Titles:

Senior RFP Manager, Client Services

Ann-Marie L. Gehring

Job Titles:

Director
Director, Client Services

Ann-Marie is a director in the Client Services Group. She is responsible for client interactions and assisting in the development and implementation of customized investment strategies. She works with both liability and asset-focused investors on derivative-focused strategies and assists with growth initiatives at NISA. Ann-Marie joined NISA's Operations Group in 2009 and transitioned to the Client Services Group in 2010. She earned a BSBA in International Business and an MBA from the University of Missouri - Columbia.

Anthony R. Pope

Job Titles:

Member of the Senior Leadership Team
Managing Director, Portfolio Management

Committees: Co-Chair, Investment Committee; Member, Management Committee Anthony is a managing director and member of NISA's Investment and Management Committees. He is responsible for the day-to-day oversight of the Fixed Income and Derivatives Portfolio Management Group, including implementation of the fixed income profile developed by the Investment Committee, fixed income trading, and credit research. Anthony was recruited through NISA's internship program and joined NISA in 1995. Anthony holds a BSBA in Finance from Washington University in St. Louis.

Bella L. F. Sanevich - Managing Director

Job Titles:

Managing Director
Member of the Senior Leadership Team
Managing Director, Corporate Governance and Legal

Committees: Member, Management Committee Bella is managing director and a member of NISA's Management Committee. She is responsible for the day-to-day oversight of NISA's Legal Group and handles legal and regulatory matters. Prior to joining NISA in 2003, Bella spent eight years working in the corporate/securities and financial services groups at two major New York City law firms. She holds a BS in Finance and International Business from New York University and a J.D. from Columbia University School of Law. She is a member of the Missouri Bar and the New York State Bar.

Biswajit Bhattacharya

Job Titles:

Director
Member of the Portfolio Management Team
Director, Fixed Income

Committees: Member, Investment Committee Biswajit is a director in the Fixed Income and Derivatives Portfolio Management Group and a member of NISA's Investment Committee. He is responsible for the daily strategy implementation and monitoring in fixed income accounts and analyzing the relative value of individual securities within the Fixed Income and Derivatives Portfolio Management Group. He is authorized to trade fixed income securities. Biswajit joined NISA's Fixed Income and Derivatives Portfolio Management Group in 2003. Prior to NISA, he worked as a Senior Financial Analyst at Outsourcing Solutions Inc., where he was responsible for corporate financial analyses for three business units. Prior to that, he worked for four years in the semiconductor industry as a Design Engineer. He earned a Bachelor of Technology degree in Electrical Engineering from the Indian Institute of Technology and an MBA from Washington University in St. Louis.

C. Robert Krebs

Job Titles:

Director, Defined Contribution Solutions

Robert is a director in the Client Services Group and co-head of NISA's defined contribution solutions business. He is also responsible for client interactions, new business development, and communication of market and portfolio-related information to select clients. Robert joined NISA's Client Services Group in 1995. Prior to NISA, he spent seven years in various roles at Providian Capital Management (currently Transamerica Stable Value Solutions) where he was involved in the creation and development of the first insurance company synthetic GIC. From 1985 to 1988, he served as Vice President and Assistant Director of the Financial Strategies Group at Goldman, Sachs & Co. He served on the board of directors of the Stable Value Association from 1993 to 2000 and was Chairman of the Board from 1994 to 1997. He holds a BA in Economics from DePauw University and an MBA from Washington University in St. Louis.

Carl R. Kuebler

Job Titles:

Director
Member of the Portfolio Management Team
Director, Derivatives

Carl is a director in the Fixed Income and Derivatives Portfolio Management Group. He is responsible for the daily strategy implementation and monitoring in derivative accounts, counterparty risk management, negotiation of ISDA documents, and oversight of daily Derivatives Portfolio Management Group operations within the Fixed Income and Derivatives Portfolio Management Group. He is authorized to trade derivative instruments. Carl joined NISA in 1996. He earned a BSBA and an MBA from Marquette University.

Cheryl L. Hanson - Managing Director

Job Titles:

Managing Director
Member of the Senior Leadership Team
Managing Director, Client Services

Committees: Member, Management Committee Cheryl is a managing director in the Client Services Group and a member of NISA's Management Committee. She is responsible for the day-to-day oversight of the Client Services Group including NISA's request for proposal process, client reporting and onboarding functions for new engagements. She is also responsible for client and consultant interactions and assisting in the development and implementation of customized investment strategies. Cheryl joined NISA's Client Services Group in 2003. Prior to NISA, she was the Divisional Controller of a healthcare company, the Director of Special Accounting Projects for General American Life Insurance Company and a Manager with KPMG LLP's assurance services practice focusing on financial services clients. She holds a BA in Accounting from Lindenwood University.

Christopher E. Goebel

Job Titles:

Director, Client Services
Member of the Client Services Team

Chris is a member of the client services team responsible for client interactions and assisting in the development and implementation of customized investment strategies. He is also a member of NISA's liability analysis team which works with clients and their actuaries to estimate the liability's effective interest rate exposure, and assists in product development for Retirement Driven Investing solutions for Defined Contribution plans. Chris joined NISA's Client Services Group in 2008. Prior to NISA, he assisted institutional fund sponsors with investment policy development, asset allocation strategies, manager selection, and performance evaluation with Hewitt Investment Group. He earned BS degrees in Finance and Management Information Systems from the University of Illinois at Urbana-Champaign and an MS in Finance from Washington University in St. Louis.

Clayton T. Hoyt

Job Titles:

Director, Data Management

Clay oversees NISA's Data Management Group, which is responsible for Data Engineering, Master Data Management, and Data Governance. Clay joined NISA's IT Operations team in 2012 and transitioned to the lead the newly formed Data Management team in 2022. Before joining NISA, he worked as a database administrator and application developer for the U.S. Air Force and wrote electronic medical records software for chiropractors. He holds a BS in Human Biology and a Doctorate in Chiropractic from Logan University in St. Louis.

Daniel A. Scholz

Job Titles:

Director, Investment Strategies

Committees: Member, Investment Committee Dan is a director in the Investment Strategies Group and a member of NISA's Investment Committee. He is responsible for developing custom strategies designed to meet client objectives and developing and implementing proprietary financial modeling and engineering tools used throughout NISA. Dan is also responsible for the day-to-day oversight of NISA's Strategic Portfolio Management team which is charged with maintaining hedge strategies including completion portfolios. In addition, Dan has written papers on fixed income and synthetic derivative topics. Dan was recruited through NISA's internship program, and he joined NISA in 1998. He holds a BA in Economics and Physics from Illinois Wesleyan University, a BS in System Science and Engineering, and an MBA from Washington University in St. Louis.

Daniel H. Riley

Job Titles:

Senior Manager, Client Services

Dan is responsible for client interactions and assisting in the development and implementation of customized investment strategies. He also evaluates stable value fund structures as well as Retirement Driven Investment solutions for Defined Contribution Clients, and he works with the Legal Group to implement derivative documentation for overlay programs. Dan joined NISA's Operations Group in 1999 and transitioned to the Client Services Group in 2001. He holds a BA in Chemistry and an MBA from Washington University in St. Louis.

Daniel M. Rothweiler

Job Titles:

Associate Chief Technology Officer, Technology Operations

Dan oversees NISA's Information Technology Group, which is responsible for overall technology strategy, including design, implementation, and day-to-day operations of information systems. Dan joined NISA's Operations Group in 1997 and transitioned to a technology role in 1998. Prior to his current role, Dan was responsible for delivery of technology solutions for NISA's Operations and Compliance Groups. He holds a BSBA in Finance from Saint Louis University.

David G. Eichhorn

Job Titles:

Member of the Senior Leadership Team
Chief Executive Officer and Head of Investment Strategies

Committees: Chairman, Investment Committee; Member, Management Committee David is chief executive officer, chair of NISA's Investment Committee, and a member of NISA's Management Committee. He has written papers on fixed income and asset allocation strategies for defined benefit and defined contribution plans and presents on these topics at various conferences. David is also responsible for the day-to-day oversight of NISA's Investment Strategies Group, which develops custom strategies designed to meet client objectives. He also oversees new product development and growth initiatives. Prior to joining NISA in 1999, David worked for three years at JP Morgan Investment Management where he assisted institutional clients with investment policy development, strategic asset allocation and asset/liability management. David holds a BSBA from Washington University in St. Louis, with majors in Finance and Mathematics.

David G. Murad

Job Titles:

Senior Manager, Investment Strategies

David is a member of the team that develops proprietary financial modeling and engineering tools used throughout NISA. He also supports NISA's Strategic Portfolio Management team which is charged with maintaining hedge strategies including completion portfolios and exposure management strategies. David joined NISA's Investment Strategies Group in 2019. Prior to joining NISA, he was a Managing Director at Rocaton Investment Advisors, consulting for a wide variety of institutional clients on asset allocation, capital markets, liability-driven investing, and other investment issues. Prior to that, he was an actuarial consultant at Buck Consultants. He earned a BA in Statistics and Psychology from Rice University.

Derek W. Lohse

Job Titles:

Member of the Client Services Team
Senior Manager, Client Services

Derek is a member of the client services team responsible for client interactions and assisting in the development and implementation of customized investment strategies. He also assists with portfolio transitions. Derek joined NISA's Operations Group in 2008 and transitioned to the Client Services Group in 2010. Prior to NISA, he was a project engineer for five years in the construction management industry. He earned a BSBA in Finance from Washington University in St. Louis and an MBA from Saint Louis University.

Elaine M. Kemper

Job Titles:

Director
Director, Client Services

Elaine is a director in the Client Services Group. She manages the team responsible for reporting within the Client Services Group. Elaine also provides general support to the Client Services Group in the areas of report preparation, portfolio analysis and other projects. Elaine joined NISA's Operations Group in 2006 and transitioned to the Client Services Group in 2007. She earned a BSBA in Finance and Banking from the University of Missouri - Columbia and an MBA from Lindenwood University.

Gabriel E. Crump

Job Titles:

Director
Member of the Portfolio Management Team
Director, Credit Research

Gregory J. Yess

Job Titles:

Member of the Senior Leadership Team
Managing Director, Client Services

Committees: Chairman, Management Committee Greg is a managing director and chair of NISA's Management Committee. Greg is responsible for the day-to-day oversight of many of NISA's operating departments including Client Services, Risk Management and Administration. He also works with various departments to develop new products and growth initiatives. Prior to joining NISA in 2000, Greg spent three years as the COO and CFO of Tulsa-based Saint Francis Health System. From 1991 to 1997, he co-founded and directed Weiss, Yess and Co. (currently CBIZ), a business and financial advisory firm. From 1982 to 1991, Greg worked for Arthur Andersen LLP as a senior manager providing business consulting and tax services. Greg holds a BS in Accounting from Illinois Wesleyan University.

Gregory W. Johnson

Job Titles:

Director, Client Services

Greg is a director in the Client Services Group. He is responsible for client interactions and assisting in the development and implementation of customized investment strategies. He also oversees NISA's Canadian client initiatives. Greg joined NISA's Portfolio Management Group in 2002 and transitioned to the Client Services Group in 2003. Prior to NISA, he spent seven years at Ernst & Young, including three years in Europe. He holds a BS in Business Administration and Accounting from the University of Kansas and a Masters in Finance from London Business School.

Israel Acosta

Job Titles:

Member of the Portfolio Management Team
Senior Investment Officer, Credit Research

Israel provides support to the Fixed Income and Derivatives Portfolio Management Group in the area of corporate bond credit research. Prior to joining NISA in 2015, Israel worked for 14 years at Reams Asset Management in various areas including credit research, corporate bond trading and portfolio management. He holds a BS in Finance from Indiana State University and an MBA from Indiana University - Indianapolis.

James Hobbs

Job Titles:

Director
Director, Investment Strategies

James is a director in the Investment Strategies Group. He is a member of the team that develops proprietary financial modeling and engineering tools used throughout NISA. He also supports NISA's Strategic Portfolio Management team which is charged with maintaining hedge strategies including completion portfolios and exposure management strategies. James joined NISA's Investment Strategies Group in 2013. Prior to NISA, he worked as an analyst for Puget Sound Energy where he developed strategies to hedge the firm's exposure to energy markets. He earned a BA in Economics and an MS in Computational Finance and Risk Management from the University of Washington.

Jennifer L. McCarthy

Job Titles:

Senior Investment Officer, Equity Portfolio Management

Jennifer is responsible for the day-to-day monitoring and managing of equity portfolios. She is authorized to trade equity securities. Jennifer joined NISA's Fixed Income and Derivatives Portfolio Management Group in 1994 and transitioned to the Equity Portfolio Management Group in 1999. She earned a BSBA in Finance and Management and an MBA from Washington University in St. Louis.

John S. Choe

Job Titles:

Member of the Portfolio Management Team
Director, Derivatives

John is a director in the Fixed Income and Derivatives Portfolio Management Group. He is responsible for the daily strategy implementation and monitoring in derivative accounts within the Fixed Income and Derivatives Portfolio Management Group. He is authorized to trade fixed income and derivative instruments. John was recruited through our internship program, joining NISA in 2002. He earned an AB in Economics from Washington University in St. Louis.

Jordan C. Rouff

Job Titles:

Director
Director, Derivatives

Jordan is a director in the Derivatives Group. He is responsible for the daily monitoring of derivative portfolios within the Fixed Income and Derivatives Portfolio Management Group. He is authorized to trade fixed income and derivative instruments. Jordan joined NISA in 2005. He earned a BSBA in Finance and Real Estate and an MBA from the University of Missouri - Columbia.

Joseph Sodemann

Job Titles:

Member of the Client Services Team
Senior Manager, Client Services

Joe is a member of the Client Services team responsible for client interactions and assisting in the development and implementation of customized investment strategies. He also provides general support for client engagements, portfolio analysis and fixed income projects. Joe joined NISA in 2008, and served in roles within Operations and Information Technology before transitioning to the Client Services Group in 2017. Prior to NISA, he was a Financial Advisor at Renaissance Financial. He earned a BSBA in Finance and Banking from the University of Missouri - Columbia and an MBA from Saint Louis University.

Justin R. Stock

Job Titles:

Member of the Client Services Team
Senior Technology Manager, Client Services

Justin is a member of the Client Services team responsible for technology driven solutions that support the Client Services Group.

Kenneth L. Lester

Job Titles:

Member of the Portfolio Management Team
Member of the Senior Leadership Team
Managing Director and Member of NISA 's Investment and Management Committees
Managing Director, Portfolio Management

Committees: Co-Chair, Investment Committee; Member, Management Committee Ken is a managing director and member of NISA's Investment and Management Committees. He is responsible for the day-to-day oversight of the Fixed Income and Derivatives Portfolio Management Group. Ken joined NISA at its inception in 1994 following a reorganization of NISA's predecessor, National, which he joined in 1990. Prior to National, Ken was a member of the Financial Strategies Group at Goldman, Sachs & Co. and a portfolio manager at Goldman Sachs Asset Management. Ken holds a BA and an MAE in Quantitative Economics from the University of Michigan.

Kevin D. Schuman

Job Titles:

Director, Client Services

Kevin is a director in the Client Services Group. He is responsible for client interactions and assisting in the development and implementation of customized investment strategies. He also oversees NISA's liability analysis team which works with clients and their actuaries to estimate the liability's effective interest rate exposure, and NISA's Hedge Portfolio Management team, which is charged with calculating hedge targets for completion mandates and other synthetic overlay programs. Kevin joined NISA's Operations Group in 1999 and transitioned to the Client Services Group in 2000. He holds a BSBA in Finance from Saint Louis University and an MS in Finance from Washington University in St. Louis.

Kevin M. Shultz

Job Titles:

Director, Markets and Portfolios

Kevin is a director in the Markets and Portfolios team which focuses on communicating economic, market and portfolio-related information to clients. He also authors NISA's economic overviews and assists with benchmark design and portfolio transitions in order to meet client objectives. Kevin joined NISA's Client Services Group in 2011. Prior to NISA, he was a corporate and government bond trader for Edward Jones Investments, a Market Maker in equity options for Group One Trading, L.P. and an English teacher in Eastern Europe and Asia. He earned a BS in Finance and International Studies from Indiana University - Bloomington.

Laurie B. Fournie

Job Titles:

Director, Accounting and Administration

Luke Obholz

Job Titles:

Member of the Client Services Team
Senior Manager, Client Services

Luke is a member of the client services team that provides general support for client engagements, portfolio analysis and fixed income projects. He also supports the firm's onboarding functions for new engagements. Luke joined NISA's Client Services Group in 2012. Prior to NISA, he was a Senior Associate in the Business Valuation Group at Deloitte Financial Advisory Services LLC. He earned a BA in Economics from Rockhurst University and an MBA from the University of Notre Dame.

Mark A. Folkins

Job Titles:

Chief Administrative Officer

Mark oversees various internal business administration functions at NISA, including human resources and employee benefits, recruiting, accounting and tax, payroll and insurance. Prior to joining NISA in 2005, Mark spent ten years at CBIZ Accounting, Tax and Advisory of St. Louis, LLC (formerly Weiss, Yess and Co.) as a Principal and Tax Practice Director. From 1987 to 1994, Mark worked for Arthur Andersen LLP as a manager providing business consulting and tax services. Mark holds a BS and an MA in Accountancy from the University of Missouri - Columbia.

Mark Utlaut

Job Titles:

Senior Investment Officer, Credit Research

Matt D. Kaplan - Chief Risk Officer

Job Titles:

Chief Risk Officer

Matthew A. Stapf

Job Titles:

Senior Manager, Portfolio Management Process Oversight

Matthew G. Byron - COO

Job Titles:

Chief Operating Officer
Member of the Senior Leadership Team

Committees: Member, Management Committee Matt is chief operating officer and a member of NISA's Management Committee. Matt is responsible for the day-to-day oversight of a number of NISA's operating departments which cover much of the firm's back office functions, data management, and information technology. Matt was recruited through NISA's internship program and joined NISA in 2005. He most recently worked as a Director in the Fixed Income and Derivatives Portfolio Management Group. Prior to NISA, he worked in the computer software industry. He earned BS degrees in Biology, Mathematics and Computer Science from the University of Illinois at Urbana-Champaign and an MBA from Washington University in St. Louis.