2014 Summit Program

Topics address the quest to find sufficient return while limiting risk. Discover ways to adjust your portfolio to meet the current market environment

The 2014 Summit is a forum for the exchange of investment information and ideas with institutional investment professionals: designed for pension, foundation, endowment, and private office executives, trustees, investment officers, consultants and representatives of financial institutions.

November 10-11, 2014 Dallas Marriott Las Colinas Hotel

2014 Summit – NSIIP Introduction

Welcome to the 2014 Summit,

The National Society of Institutional Investment Professionals welcomes you to the 20th Annual National Pension and Institutional Investor Summit at the Dallas Marriott Las Colinas Hotel, Dallas, Texas, November 10-11, 2014. We will address recent strong market returns, rising interest rates, and other market changes. “Return of the Return” is the theme with speakers and panel discussions to help in the quest to find sufficient return while limiting risk. We will look at ways to adjust your portfolio to meet the current market environment. The Summit will offer an opportunity to hear and participate in investment discussions focused on how to improve your portfolio’s performance during this time of rapid market changes and financial turmoil.

The National Society of Institutional Investment Professionals (NSIIP) Mission NSIIP is a national 501(c)3 non-profit organization designed for the education and networking of professionals who manage institutional investment funds including corporate pensions, public pensions, non-profit foundations and endowments, hospitals, and family offices. NSIIP promotes the exchange of information as it advocates standards of qualification, and develops and promotes continuing education programs. We also offer opportunities to network with other directors, trustees, investment officers and representatives of financial institutions.

NSIIP History Our roots began more than 20 years ago in the Dallas/Ft. Worth area. Several large plan sponsors hosted quarterly meetings highlighting an industry leader/speaker. We also established an annual one-day Summit with high-quality industry speakers to address topics such as equity, fixed income, real estate, alternative investment issues, asset analysis and allocation, defined benefit and defined contribution issues, as well as economic outlooks.

The NSIIP Organization  Is administered by NSIIP officers according to the by-laws and is guided by the Texas Advisory Board, a diverse group by region and investor type. The officers and board hold conference calls three to four times each year and meet annually at our Summit.  Sponsors an annual Summit in Dallas typically in the fall, attended by corporate pensions, public pensions, non-profits, hospitals, family offices, and consultants in the Texas region. The Summit is a full-day event featuring fund sponsor and investment speakers and begins with reception and dinner on the previous day. Costs are borne by vendors who are interested in attending, so there is no cost to institutional investors.  Sponsors eight monthly meetings in the Dallas/Ft. Worth area with various speakers and a network exchange, all for the price of the lunch. In addition, there are usually one or two special meetings held to address specific topics.  Partners with the Dallas Economists Group for at least one meeting each year to hear speakers from the Dallas Federal Reserve update us on the economy.  Partners with Thomson Reuters's Buyouts Magazine and Buyouts Texas Annual Conference, which is held in Dallas and provides a venue for multiple Private Equity Investment Managers. 2014 Summit – NSIIP Board of Directors

In 2006 the founding Board members saw a need for an organization to promote education and networking for professionals who manage institutional investment funds including corporate pensions, public pensions, non-profit foundations and endowments, hospitals, and family offices. They formed the National Society of Institutional Investment Professionals (NSIIP), a 501(c)3 non-profit organization. These are the same Board members listed here, all volunteers, who follow the bylaws and jointly oversee the activities of the organization. They name the Executive Director to coordinate the annual Summit and carry out the other activities of the organization. These Directors actively guide the organization, setting goals to fulfill the NSIIP mission and values. The Board of Directors also established its Texas Advisory Board to enlist advisors with diverse talents and backgrounds to help the organization grow and accomplish its objectives.

John E. Thompson, Jr. – President & Executive Director John Thompson has been the President of the National Society of Institutional Investment Professionals since founding the organization in 2006. In July 2012 he was named Executive Director with responsibilities that include coordinating the organization’s annual Summit. He retired, June 2012, after 38 years with Energy Future Holdings, including more than 20 years of pension investment experience. He was responsible for managing all the company's external trust funds including defined benefit plans, defined contribution plans, various non-qualified plans, and nuclear decommissioning trusts totaling $4.5 billion in assets.

He is a founding board member of the National Society of Institutional Investment Professionals, President of the Dallas Chapter, and has been involved in all 20 Annual National Pension & Institutional Investment Summits, which began in 1995. He serves as chairman of the Investment Committee for the Circle Ten Council Boy Scout Foundation and is on the Baptist Foundation of Texas Board.

He was an active member of the Utility Pension Fund Study Group the Nuclear Decommissioning Fund Study Group and previously served on the editorial board of the Journal of Pension Plan Investing, and the Pension Policy and Legislation Committee for the Texas State Pension Review Board. He earned a BS in Business from Texas Wesleyan University in Ft. Worth, and an MBA in Finance from The University of Texas at Arlington. His master’s thesis was “An Analysis of the Financial Aspects of a Trusteed Pension Plan.”

Bill Blythe – Vice President Bill is an associate real estate broker with Martha Turner Sotheby’s International Realty in Houston and The Woodlands. He provides over forty years of real estate expertise to his many clients, having been involved in commercial and residential sales, building, and developing. He is an Accredited Buyer Representative (ABR®).

He was a member of the Texas House of Representatives for twelve years, and served in various appointed government positions. He authored the legislation creating the Texas State Pension Review Board. In addition to being a founder and a member of the Board of Directors, Bill served as the Executive Director of NSIIP until his recent retirement. He was one of the founders of the Texas Association of Public Employee Retirement Systems (TEXPERS) and served as its Executive Director for almost fifteen years. 2014 Summit – NSIIP Board of Directors

David J. Pittman – Vice President Mr. Pittman is Vice Chairman of NSIIP’s Texas Advisory Board and retired from PIMCO, formerly a Senior Vice President & Southern Regional Director for PIMCO Institutional Services in California for 15 years. Prior to PIMCO, he was a Senior Vice President & Regional Director with The Northern Trust Company/Chicago, Bank of America/California, and Republic Bank/Dallas.

Mr. Pittman is on the President's Council of SouthWest Benefits Association (SWBA), a Founding Director of the National Society of Institutional Investment Professionals (NSIIP), and a Founding Member of the Texas Association of Public Employee Retirement Systems (TEXPERS). He was an Adjutant Professor at George Washington University's Pension Institute in D. C., on the Pension World Advisory Board in Atlanta, on the American Bankers Association Corporate Services Board in D.C., and the Texas Bankers Association in Austin. He has also been involved in the Pensions & Investments/P&I Institute, NCTR, NCPERS, TEXPO, SCTR, and Southern Employee Benefits Conference as well as many Dallas community and church Boards and volunteer activities.

He has 43 years of institutional investment, banking & finance experience, holds a Bachelors in Accounting Degree from the University of Texas and a Graduate Banking Degree from Southern Methodist University (SMU) where his thesis was on ERISA/1974. He also graduated the AMA Corporate Executives Course/Wharton University, and attended many PIMCO Quarterly Cyclical & Secular Investment Forums as well as industry educational conferences.

Randall L. Kopsa – Secretary Randy Kopsa serves as the Treasury Manager for the Boy Scouts of America. His office is comprised of the Director of Investments, Director of Insurance and Risk Management, Director of Credit and Collections, Director of Cashier Services and Director of Treasury Information and their respective staffs.

He also serves as Chief Financial Officer for BSA Asset Management, LLC, a BSA subsidiary company providing institutional investment services to councils across the country with $2 billion in assets under management. Prior to joining Boy Scouts, he served the State of Oklahoma as the Secretary & Treasurer of the Oklahoma Teachers' Retirement System and as the Assistant State Treasurer.

Randy's private sector experience is in banking, where he assumed various positions including commercial lending, asset/liability management and administration. He is a graduate of several bank- related schools, including the Graduate School of Bank Management at the University of Georgia.

Kopsa served in the U.S. Air Force as a Russian linguist with the NSA. He received his education at the University of Maryland and Wichita State University in Kansas. He has served as a member of the executive committee of the National Association of State Investment Officers, a member of Governmental Accounting Standards Board Task Force, the Financial Management Association and other financial associations.

He attended the University of Texas, earning a B.A. degree in General Business. He served for eight years in the United States Army on both active and reserve duty. 2014 Summit – NSIIP Board of Directors

Jim Harrell – Treasurer Jim Harrell is the President of the World Giving Community Foundation. He combines a background with for-profit financial institutions and charitable entities. He served as the charitable liaison for Republic Bank and Northern Trust and the finance officer for Southwestern Medical Foundation.

He recently organized one of the member community foundations of the Border Philanthropy Project between Mexico and the United States, the Laredo Area Community Foundation, and is still a trustee.

Currently, he is establishing an ecumenical, faith based, community foundation, World Giving, to provide community foundation services to a broad base of donors who want to fund charities globally. Jim is founding member and serves on the board of directors of the National Society of Institutional Investment Professionals and is a member of the Society of Pension Professionals.

Bruce Cox – Director Emeritus Bruce Cox served on the Board of Directors of the Employees’ Retirement Fund, City of Fort Worth from 1978 until 2008. He also is on the Board of Directors of the National Society of Institutional Investment Professionals and is a member of the Society of Pension Professionals.

Bruce served on the State Pension Review Board for six years and was on the Board of Directors for the Texas Association of Public Employees Retirement Systems for nine years. Bruce retired in 1993 from the position of battalion chief with the Fort Worth Fire Department after 35 years of service. He is currently president of the Retired Fort Worth Firefighters Association. 2014 Summit – Notes

______2014 Summit – NSIIP Texas Advisory Board

The mission of the Texas Advisory Board is to advise the NSIIP Board of Directors and assist NSIIP with various projects such as creating additional local NSIIP chapters and developing the NSIIP Annual Summit program and speakers.

Austin Dallas (continued) Brady Edwards, CFA Richard E. Scott Sr. VP - Finance Senior Financial Services Representative Lower Colorado River Authority The Principal Financial Group

Sampson (Sam) K. Jordan John E. Thompson, Jr. Pension Administrator Investment Committee Chair Austin Police Retirement System Circle Ten Boy Scout Foundation

Danny Sachnowitz Joe H. Wright Chief Investment Officer Senior Vice President & Chief Investment Texas Treasury & Tobacco Fund Officer Baptist Foundation of Texas Dallas Charles Ballard El Paso Director, Asset Management Robert B. Ash Kimberly-Clark Corporation Pension Administrator El Paso City Employees’ Pension Fund Rodric Cummins Executive Officer, Investment Services Jeffrey D. Cotham GuideStone Capital Management/ Trustee GuideStone Financial Resources El Paso Firemen & Policemen's Pension Annuity Board of the Southern Baptist Fund Convention Ft. Worth Cynthia Floyd Bruce Cox Manager, Employee Benefits Fund Past Board Member Investments Fort Worth Employees’ Retirement Fund Texas Instruments Inc Bryan M. Hedrick Daniel E. O’Grady, CFA, CPA Investment Officer Executive Director – Investments Fort Worth Employees' Retirement Fund AT&T Inc. Jim Hille David J. Pittman Chief Investment Officer Advisor, President's Council Texas Christian University Endowment Catholic Charities/PIMCO Retired Patrick B. O’Connor Fred Richmond Chief Investment Officer VP & Chief Investment Officer Cook Children’s Health Care System Texas Scottish Rite Hospital for Children 2014 Summit – NSIIP Texas Advisory Board

Fort Worth (continued) Laredo Cynthia Thatcher, CFA James B. Harrell Portfolio Manager, Asset Management Trustee American Beacon/American Airlines Laredo Area Community Foundation

Houston San Antonio Bill Blythe Lois M. Emerson Retired State Representative Manager - Benefits Trust Administration Employees Retirement System of Texas CPS Energy Texas Pension Review Board, Past Chairman Doug Ward, CFA, CPA AVP Investment Strategy Michael J. Curran, CPA USAA Manager of Pension, Trust and Tax Revenue Metropolitan Transit Authority of Harris County

Dennis D. Veal Assistant Treasurer Dresser-Rand

Irving Randall L. Kopsa Treasury Manager Boy Scouts of America 2014 Summit – Program Outline

MONDAY, NOVEMBER 10, 2014

5:00PM - 6:00PM NSIIP Texas Advisory Board Meeting

6:00PM - 7:00PM Summit Opening: Networking Reception Underwriters: Ken Sarafa, Senior Vice President Voya Investment Management Carl T. O'Connell, Director, Senior Relationship Manager The Boston Company Asset Management, LLC

7:30PM Private Dinner (Transportation provided from hotel) (for Plan Sponsors, Foundations, Endowments, Family offices and Consultants) In the Gallery Room at the Four Seasons Las Colinas 4150 N MacArthur Blvd, Irving, TX 75038 Co-Sponsors: Ken Sarafa, Voya Investment Management Carl T. O'Connell, The Boston Company Asset Management, LLC 2014 Summit – Program Outline

TUESDAY, NOVEMBER 11, 2014

Underwriters: Ken Sarafa, Voya Investment Management Carl T. O'Connell, The Boston Company Asset Management, LLC

8:15AM - 8:45AM Registration and Networking Breakfast Buffet

8:45AM - 9:00AM Pledge, Invocation, Welcome, and Introductions (Continued) Opening: Irving Fire Department Color Guard Irving Fire Department Pipe and Drums

Pledge: Heidle Baskin, Chairman Irving Firemen's Relief & Retirement Fund

Invocation: Randall L. Kopsa, Treasury Manager Boy Scouts of America

Introductions: John E. Thompson, Jr., President and Executive Director National Society of Institutional Investment Professionals

Underwriters: Ken Sarafa, Senior Vice President Voya Investment Management Carl T. O'Connell, Director, Senior Relationship Manager The Boston Company Asset Management, LLC

9:00AM – 9:45AM Kick-Off Presentation The Road Ahead: An Equity Investor’s Take on Rates Speaker: Jim Lydotes , Director and Portfolio Manager The Boston Company Asset Management, LLC The "smart money" has been betting that rates are going higher in a hurry. However, Portfolio Manager Jim Lydotes argues that the market has grossly misjudged the rate at which this will happen. Jim pokes holes in some of the most popular bullish economic indicators, points out real obstacles to Fed rate hikes, and pinpoints when a rise in rates could finally play out. 2014 Summit – Program Outline

TUESDAY, NOVEMBER 11, 2014 (Continued)

9:45AM - 10:25AM Panel Discussion: Real Assets - will they hedge inflation? Generally real assets have low correlations to traditional stocks and bonds, which could provide lower overall portfolio risk while enhancing the potential for better long-term risk-adjusted returns. But, can they also prevent the eroding effect inflation can have on the value of assets? How can Real Assets help? Moderator: Joe Nugent, Director, Private Equity and Real Assets Asset Consulting Group Panelist: Bob Greer, Executive VP, Product Manager PIMCO Panelist: Margaret McKnight, Co-Chief Investment Officer, Managing Director Metropolitan Real Estate Panelist: Tom Rose, Director BlackRock

10:25AM - 10:40AM Networking Break

10:40AM - 11:20AM Panel Discussion: CIO outsourcing trend - governance issues? Outsourced Chief Investment Officer (OCIO) is a large and growing market segment. A survey of outsourcers by aiCIO magazine showed the volume of outsourced assets increased 200% between 2007 and 2011. OCIOs can create economies of scale and take on some fiduciary responsibility, but the client takes on new governance issues. Moderator: Clint Cary, Principal Hewitt EnnisKnupp, Inc. Panelist: Eric Macy, CFA, Managing Director Fiduciary Solutions, Russell Investments Panelist: Chuck McKenzie, CFA, CFP, Head of Institutional Solutions, Global Asset Allocation - Pyramis Global Advisors Panelist: Mike Noto, Chairman Stamford Policemen's Pension Fund 2014 Summit – Program Outline

TUESDAY, NOVEMBER 11, 2014 (Continued)

11:20AM - 12:20PM Panel Discussion: Fixed Income - strategies to mitigate impact of rising rates? This issue is critical and timely. With rates trending downward since the 1980s, the potential rising interest rate environment represents a significant shift for investors, one most have never experienced. While the prevailing wisdom may be to move out of bonds, there are other important strategies to consider. Moderator: Timothy C. Ng, Chief Investment Officer Clearbrook Panelist: Raj Kundra, Managing Director Pacific Global Advisors Panelist: David Withrow, Director, Taxable Fixed Income ClearArc Capital Panelist: Robert Kowit, Senior Vice President, Product Specialist Federated Investors Panelist: Thomas Urano, Principal, Managing Director Sage Advisory Services, Ltd. Co.

12:20PM - 1:50PM Luncheon Speaker Growth and Asset Returns in a Time of Tightening Speaker: Derek Sasveld, Senior Vice President - Head of Asset Allocation Voya Investment Management Six years since the Fed lowered rates to virtually zero, the U.S. economy is still recovering slowly albeit at a steady clip. While Europe may be heading for a slowdown, emerging markets continue to struggle to create sustainable growth. Against this backdrop and inevitable prospect of rising rates, Derek Sasveld will discuss the prospect for economic growth and asset returns in 2015 as the Federal Reserve winds down their unprecedented stimulus measures

1:50PM - 2:35PM Panel Discussion: Smart Beta - a new name or a new idea? Smart beta products are billed as an alternative to the traditional "active" and "passive" investment strategies. The concept has actually been around for a while and the main appeal is a chance to get above-average returns without paying excessive fees or taking on too much risk. Can it work over time? Moderator: Ken Robertson, Principal, Advisor Weems & Robertson Panelist: Donna Wilson, Director of Portfolio Management Invesco Panelist: Jerry Bramlett, Owner, Consultant Bramlett Consulting Panelist: Cynthia Fryer Steer, Executive Vice President BNY Mellon Asset Management 2014 Summit – Program Outline

TUESDAY, NOVEMBER 11, 2014 (Continued)

2:35 PM – 3:30 PM Breakout Sessions: Breakout Sessions will address issues that are specific to each investor group. This smaller setting is ideal for discussing the issues that are common for all in the group and many are dealing with. A small sampling of these groups and issues are as follows:

Breakout Panel #1 – Public Plans GASB, fiduciary training, and other regulatory issues Moderator: Richard Tettamant, Retired Administrator Dallas Police & Fire Pension System Panelist: Jeffrey C. Boucek, CFA, Senior Vice President, Principal Segal RogersCasey Panelist: Joe Costello, Vice President of Finance Dallas Area Rapid Transit Panelist: Heidle Baskin, Chairman Irving Firemen's Relief & Retirement Fund

Breakout Panel #2 – Corporate Plans ERISA and other regulatory issues Moderator: Ronald Hagan, Chairman Roland Criss Panelist: Frank Nessel, Senior ERISA Consultant Vanguard Panelist: Russell Chapman, Special Counsel Littler Mendelson Panelist: Wyatt Crumpler, Outsourced CIO American Airlines

Breakout Panel #3 – Foundations, Endowments, and Family Offices Payout strategies, fund comparisons, co-investment, and other issues Moderator: Greg Dowell, Investment Consultant Dowell Consulting Panelist: Mary Kathryn Campion, President Champion Capital Research Panelist: Margaret McConn, Vice President, Chief Financial Officer, Chief Investment Officer Rockwell Fund, Inc. Panelist: Ryan Bailey, Senior Investment Director Children's Medical Center

3:30PM - 3:45PM Networking Break 2014 Summit – Program Outline

TUESDAY, NOVEMBER 11, 2014 (Continued)

3:40PM - 4:45PM Panel Discussion: Low Volatility strategies - do they work? Low volatility strategies, that can potentially access risk-diversifying sources of excess return, have garnered strong investor interest. However, portfolio construction methods should be sensitive to investibility and valuations. Why does it work? Where does it fit into portfolios? Moderator: Fabio Cecutto, head of Multi-Region equity manager research Towers Watson Investment Services Panelist: Dino Davis, Institutional Portfolio Manager MFS Investment Management Panelist: Rob Schoen, Co-Head of Global Asset Allocation and Portfolio Manager Putnam Investments Panelist: Dennis Davitt, Chief Investment Officer Harvest Volatility Advisors Panelist: Jeff Willardson, Managing Director PAAMCO

4:45PM - 5:00PM Concluding Remarks John E. Thompson, Jr., President and Executive Director, NSIIP

5:00PM - 6:00PM Closing Networking Reception 2014 Summit – Underwriters 2014 Summit – Underwriters 2014 Summit – Speaker Bios

Ryan Bailey, Senior Investment Director, Children’s Medical Center Ryan Bailey currently oversees over $1B in assets at Children’s across the pension, the foundation, and the long term investment pool. Ryan is Children’s only investment staff and is responsible for creating and overseeing the long term investment strategy of the Hospital. In addition, Ryan is founding the inaugural investment department for the hospital, and is putting in place systems, processes, and governance structure that are critical to the success of the plan. Prior to his arrival at Children’s, Ryan served as the Investment Officer and Interim CIO of the Meadows Foundation. Ryan’s primary responsibility was all asset classes where he drove the due diligence process on managers, aided in the development of strategic asset allocation, and constructed and implemented investment strategy to achieve competitive performance. Ryan is a graduate of Yale University with a Bachelor of Arts in Economics. He has a worked as an Analyst in the Equity Research Departments of: Solomon Smith Barney, Deutsche Bank, and Credit Suisse First Boston. Ryan holds a number of certifications including: the Chartered Financial Analyst designation (CFA), the Financial Risk Manager designation (FRM), the Chartered Alternative Investment Analyst designation (CAIA), and the Chartered Market Technician designation (CMT). After receiving his CFA in 2000, he started a trading company located on the 83rd floor of World Trade Center One. After surviving the events of 9/11, Ryan relocated to Dallas, Texas at the end of 2003. Ryan was featured in the June 2011 issue of D magazine.

Heidle Baskin, Chairman, Irving Firemen's Relief & Retirement Fund Heidle has served on the Irving Fire Department for 31 years and is currently Battalion Chief. He directs emergency scene operations, instructs company officers, and supervises administrative details, training, fire investigations, and other specialized functions in support of Fire Department operations. He has served on the Irving Firemen’s Relief and Retirement Fund Board of Trustees since 1996 and is currently the Chairman.

Jeffrey C. Boucek, CFA, Senior Vice President, Principal, Segal RogersCasey Mr. Boucek is a Senior Vice President and Director of Public Fund Consulting located in Segal Rogerscasey’s Atlanta office. He has More than 30 years of sales and management experience. Mr. Boucek has worked with both consulting and financial services firms across the corporate, public sector and multiemployer markets. He is responsible for consulting, client relationship management and new business development. Prior to joining Segal Rogerscasey, Mr. Boucek was a Partner with Mercer Investment Consulting where he was instrumental in developing their public fund business. In addition to Mercer, Mr. Boucek’s investment consulting experience includes Towers Perrin Investment Consulting where he was the primary consultant to several Endowment and Foundation funds, Taft- Hartley Pension and Health & Welfare funds, Public and Private Defined Benefit and Defined Contribution funds. While working at Towers Perrin, where he was a Senior Consultant and Investment Consulting Practice Leader of the firm’s Pittsburgh office, Mr. Boucek provided guidance to the firm’s US Investment Consulting Practice as a senior member of the firm’s Investment Manager Search Committee. When he was previously with Mercer in the 1990’s, Mr. Boucek was a Senior Consultant and Co-Manager of the firm’s practice in Chicago. Mr. Boucek graduated Magna Cum Laude with a BS in business and accounting (economics- minor) from the University of Pittsburgh and earned a Master of Public Management degree from Carnegie Mellon University. He is a CFA charterholder, a member of the CFA Institute, the Pittsburgh Society of Financial Analysts and the Atlanta Society of Finance and Investment Professionals.

Jerry Bramlett, Owner, Consultant, Bramlett Consulting Mr. Bramlett was the Founder, President and CEO of The 401(k) Company, which was sold to Charles Schwab in 2007. At the time of the sale, The 401(k) Company had 350 employees and served over 100 clients with approximately $25 billion in plan assets and more than 425,000 plan participants. After the sale of The 401(k) Company Mr. Bramlett assumed the role of President and CEO of BenefitStreet, a financially troubled firm with 7,000 benefit plans, over 400 employees and 10 subsidiaries. After taking BenefitStreet through a restructuring process, Mr. Bramlett and Peter Lynch, Vice Chairman of Fidelity Investments, acquired the assets of BenefitStreet and founded a new firm, NextStep, which was sold to Pension Specialists in 2010. In 2011, Mr. Bramlett assumed the role of Head of Institutional Sales at Dimensional Retirement, an affiliate of Dimensional Fund Advisors and served in that capacity until forming Bramlett Consulting in 2012. Currently, Mr. Bramlett is an industry consultant focused on the DC market. He also writes a weekly column for NAPA-Net. The National Association of Plan Advisors (NAPA) is a non-profit association of advisors focused on the qualified retirement industry. Mr. Bramlett holds a Bachelor’s Degree in Sociology from Southern Methodist University and a Series 7 registration.

Mary Kathryn Campion, President, Champion Capital Research Mary Kathryn Campion is President of Champion Capital Research. The firm is an independent investment management and research company incorporated to provide objective solutions to endowments, foundations, and pension plans. Dr. Campion has over twenty five years of experience as a financial economist and portfolio strategist, and is widely considered an expert in creating strategic and tactical asset allocation strategies. She is published in academic and professional journals including Bank Asset/Liability Management, The North America Journal of Economics and Finance and The World Economy: The America’s. Additionally, she maintains an active professional speaking and academic lecture schedule. She is a Chartered Financial Analyst (CFA), an Accredited Investment Fiduciary (AIFA®) and has passed Series 7 and 63 NASD security examinations. 2014 Summit – Speaker Bios

Clint Cary, Principal, Hewitt EnissKnupp, Inc. Clint is Chief Investment Officer and Head of US Delegated Investment Solutions at Hewitt EnnisKnupp (HEK), an Aon company. Clint possesses an extensive background in strategy development, portfolio management, product development, settlement strategy, and risk management. Chair of the Delegated Portfolio Oversight Committee, a member of the Liquid Alternatives Investment Committee, and a member of the Global Investment Committee. He serves as a global resource to develop and execute risk management solutions and investment programs for corporate and public pensions, defined contribution plans, endowments and foundations, and other investors. He established and managed the strategy development process for Northern Trust Global Investments’ global investment solutions team, specifically, their Liability Driven Investment solutions. Previously, co-founded Capital Strategies Group, where he created and implemented an integrated retirement Plan Financial Management process. He was actuary and investment consultant at Merrill Lynch and an actuary at Towers Perrin. Clint graduated with a Bachelor of Science degree in Business Administration from Drake University. He is a Fellow, Society of Actuaries (FSA).

Fabio Cecutto, head of Multi-Region equity manager research, Towers Watson Investment Services Fabio is head of Multi-Region equity manager research at Towers Watson, leading the team research efforts on Global, International and Emerging Market equity strategies. Fabio has also been researching long-short, quantitative and Smart Beta equity strategies and has experience consulting globally to large asset owners. Fabio is the equity specialist on the US Portfolio Construction Group (PCG), which is involved with portfolio construction and monitoring for delegated and fiduciary clients. Prior to joining Towers Watson in 2006, Fabio worked with JPMorgan AM in Milan in its multi-manager division. Fabio has a MSc in Economics and Finance from the Bocconi University in Milan, holds the Investment Managers Certificate (IMC) and is a CFA charterholder

Russell Chapman, Special Counsel, Littler Mendelson For more than 30 years, Russ Chapman has represented clients in employment, employee benefits, executive compensation and Employee Retirement Income Security Act (ERISA) matters, including related litigation. He regularly appears before the Internal Revenue Service, the Department of Labor, and other agencies regarding compliance and fiduciary issues arising in connection with pension plans, profit sharing plans, 401k plans, and ESOPs. Russell also has specific experience focusing on group health, group life, LTD, and other welfare benefits legal issues, including the Patient Protection and Affordable Care Act, COBRA, HIPAA, employer-provided mandatory wellness programs, on-site medical facilities, employer tobacco-related policies, and related issues. Russell regularly counsels and represents clients on related employment law issues arising under FMLA, ADA, ADEA, Title VI and other laws, and in executive compensation. Russell is an experienced ERISA litigator, representing employers, benefit plans, plan sponsors and fiduciaries in benefit and fiduciary claims. Board certified in labor and employment law by the Texas Board of Legal Specialization, he serves on the Board of Directors, Education Committee, of the Southwest Benefits Association. Russell holds a B.A. from the University of Oklahoma, a J.D. from the University of Tulsa, and an LL.M. (Taxation) from Southern Methodist University Dedman School of Law. He is admitted to practice law in Texas and Oklahoma, in several U.S. District Courts, and at the U.S. Court of Appeals for the Fifth Circuit. Prior to joining Littler Mendelson, Russell served as in-house counsel with a Fortune 20 energy company where he handled all areas regarding employee compensation and benefits. Formerly an adjunct professor of law at Oklahoma City University Law School and the OCU College of Business, he is an adjunct professor of law at Southern Methodist University’s Dedman School of Law, teaching employee benefits and ERISA litigation. Russell is an instrument-rated private pilot.

Joe Costello, Vice President of Finance, Dallas Area Rapid Transit Joe Costello holds the position of Vice President – Finance for Dallas Area Rapid Transit (DART), responsible for strategic planning, financial planning, budgeting, debt financing, treasury, funds management, revenue administration and collection, grants management, accounting, accounts payable, and accounts receivable. Mr. Costello has been with DART since March of this year. Previously, Mr. Costello worked for the Regional Transportation Authority of Northeastern Illinois for 19 years – first as Chief Financial Officer and then as Executive Director. Prior to that Mr. Costello held a number of financial positions with three multinational firms, after starting his career with PriceWaterhouse. Mr. Costello has an MBA from the University of Chicago, a bachelors in accounting from the University of Illinois, a CPA certificate and the government equivalent as a Certified Public Finance Officer. Mr. Costello sits on the Executive Board and Debt Management Committee of the Government Finance Officers Association and Finance Committee of the American Public Transportation Association. 2014 Summit – Speaker Bios

Wyatt Crumpler, Outsourced CIO, American Airlines Mr. Crumpler serves as Chief Investment Officer for American Beacon Advisors and is responsible for overseeing corporate pension plan investments and the investment advisors to the American Beacon Mutual Funds. In this capacity, Mr. Crumpler manages approximately $40 billion of assets in a number of asset classes and is accountable for the strategic asset allocation of the corporate pension plans. He serves as Vice Chair of the Defined Contribution Committee of CIEBA, an organization comprised of the nation’s largest private pension funds that focuses on the investment of retirement funds, and serves on a number of private equity advisory boards. Prior to joining American Beacon in 2007, Mr. Crumpler held a variety of jobs in the Finance, International Planning, Information Technology, and Accounting Departments at American Airlines and worked in public accounting at Ernst & Young as a Certified Public Accountant. Mr. Crumpler has a Master of Business Administration in Finance from Duke University and a Bachelor of Science in Accounting from the University of Tennessee.

Dino Davis, Institutional Portfolio Manager, MFS Investment Management In this role, he participates in the research process and strategy discussions, assesses portfolio risk, customizes portfolios to client objectives and guidelines, and manages daily cash flows. He is responsible for communicating investment policy, strategy, and positioning for MFS' quantitatively-driven investment products. Dino joined MFS in 2012. He had previously worked as a director for North American business development at Numeric Investor's, LLC. for two years. Prior experience also includes business development, consultant relations, and institutional portfolio and product management roles at Rampart Investment Research, Pyramis Global Advisors, State Street Research & Management and Wellington Management Company. He began his career in the financial services industry in 1993 after serving as an officer in the US Army for seven years. Dino joined MFS in 2012. He had previously worked as a director for North American business development at Numeric Investor's, LLC. for two years. Prior experience also includes business development, consultant relations, and institutional portfolio and product management roles at Rampart Investment Research, Pyramis Global Advisors, State Street Research & Management and Wellington Management Company. He began his career in the financial services industry in 1993 after serving as an officer in the US Army for seven years. Dino earned a bachelor's degree from Cornell University and earned his Masters of Business Administration from Babson College. He holds the Chartered Financial Analyst designation from the CFA Institute and is a member of the Boston Security Analysts Society.

Dennis Davitt, Chief Investment Officer, Harvest Volatility Advisors Dennis Davitt is an investment management professional with over 25 years’ experience. He has been the Chief Investment Officer since the inception of Harvest Volatility Advisors where he oversees portfolio implementation trading, and risk management. Dennis is also responsible for the firm’s Long/Short Replication strategy our Low Volatility Equity Hedging vehicle. Prior to his role as CIO at Harvest Volatility Management, Dennis Davitt served as the Head of Americas Equity Derivatives Trading for Macquarie Bank, where he oversaw all trading (proprietary, automated, flow) and all risk management. He has also acted as Head of Americas Derivative Trading for Credit Suisse and a member of CS Global Equity Operating Committee, and is credited with creating the Credit Suisse Fear Barometer (CSFB) to measure skew in the marketplace. Davitt guest writes for the popular volatility column “Strike Price” in Barron’s and was a member of original trading team at Wolverine Trading LLC.

Greg Dowell, Investment Consultant, Dowell Consulting Greg Dowell is an investment consultant working with clients in the management of their investment portfolios, including corporate governance issues, asset allocation strategies, portfolio construction, and manager selection and due diligence. Greg spent over twenty years with the Meadows Foundation, Inc. in Dallas. As the Chief Investment Officer, he was responsible for all aspects of the foundation's globally diversified portfolio. Responsibilities included: formation of investment policies, development of strategic asset allocations, evaluation, monitoring and termination of investment managers and risk management. Public asset classes employed were domestic, international and emerging markets equities, domestic, international, and emerging markets bonds. Alternative asset classes used included private equity (domestic and international venture capital and buyouts) private real estate (domestic, international and emerging markets) and hedge funds. Greg is a retired Texas Air National Guard Lieutenant Colonel.

Bob Greer, Executive Vice President, Product Manager, PIMCO Mr. Greer is an executive vice president and real return product manager in the Newport Beach office. Prior to joining PIMCO in 2002, he was with JPMorgan Chase and Daiwa Securities as a developer and product manager of commodity indexes. Mr. Greer has investment experience with real return products, including commodities, real estate and inflation-linked bonds. He has also written about them in investment journals and publications and is the author of "The Handbook of Inflation Hedging Investments," published in 2005. He also co-authored "Intelligent Commodity Indexing," published by McGraw Hill in 2012. He has over 30 years of investment experience and holds an MBA from the Stanford University Graduate School of Business and an undergraduate degree from Southern Methodist University. 2014 Summit – Speaker Bios

Ronald Hagan, Chairman, Roland Criss Ron is responsible for leading the development and maintenance of the processes used in the delivery of the firm’s services to retirement plan and non-profit organizations. He chairs the firm’s committee that is responsible for tracking trends that affect ERISA fiduciaries and developing tools and systems that help the firm’s clients meet their ever changing duties. For example, he led the team that developed the Vendor Value Index, which is now used nationally by ERISA plan sponsors to comply with fee disclosure rules. Ron joined Roland|Criss in 1994 as a founding partner of the firm. He subsequently held the position of Executive Vice President and Managing Partner from 1997 through 2003. Prior to joining Roland|Criss, Ron spent several years in the banking industry where he occupied senior level positions and on fiduciary committees. He is also a former Principal with the global management consulting firm of Booz, Allen, and Hamilton where he dealt primarily with corporate governance and risk management issues among the firm’s Fortune 500 clients. During his tenure with Roland|Criss, Ron has led process audits of retirement plans, non-profit organizations, and investment firms in the U.S., Australia, New Zealand, and India. Ron received his degree in accounting from Erie College and carries the AIFA and CFFS™ designations.

Randy Kopsa, Treasurer, Boy Scouts of America Randy Kopsa serves as the Treasury Manager for the Boy Scouts of America. His office is comprised of the Director of Investments, Director of Insurance and Risk Management, Director of Credit and Collections, Director of Cashier Services and Director of Treasury Information and their respective staffs. He also serves as Chief Financial Officer for BSA Asset Management, LLC, a BSA subsidiary company providing institutional investment services to councils across the country with $2 billion in assets under management. Prior to joining Boy Scouts, he served the State of Oklahoma as the Secretary and Treasurer of the Oklahoma Teachers' Retirement System and as the Assistant State Treasurer. Randy's private sector experience is in banking, where he assumed various positions including commercial lending, asset/liability management and administration. He is a graduate of several bank-related schools, including the Graduate School of Bank Management at the University of Georgia. Kopsa served in the U.S. Air Force as a Russian linguist with the NSA. He received his education at the University of Maryland and Wichita State University in Kansas. He has served as a member of the executive committee of the National Association of State Investment Officers, a member of Governmental Accounting Standards Board Task Force, the Financial Management Association and other financial associations.

Robert Kowit, Senior Vice President, Product Specialist. Federated Investors Robert Kowit is responsible for new product initiatives in the international fixed income sector. Previous associations: Senior Vice President, Kidder Peabody; Managing Director, Midland Montagu; Senior Vice President, Senior Portfolio Manager, John Hancock Advisers; Key Speaker; 1998 IMF/World Bank Annual meetings, Topic: “Local Bond Markets: An Alternative for Emerging Market Borrowers”. B.A.Washington University; M.B.A.,Iona College. Joined Federated 1995; Investment Experience: 42 Years.

Rajan Kundra, Managing Director, Pacific Global Advisors Rajan Kundra is responsible for developing external partnerships as well as new product solutions. Rajan has an extensive background in derivatives markets, developing & structuring new products, and client marketing. Rajan began his career at JPMorgan where he spent 8 years developing expertise in corporate derivatives and was Head of the Corporate Derivatives Marketing group. In 2001, he moved to Lehman Brothers, where he held numerous positions as a Senior Vice President, and achieved some notable accomplishments, including establishing the Derivatives Solutions Group, leading the launch of a client-focused trading initiative for Latin American Foreign Exchange and Derivatives, and serving as a founding member of Lehman’s Energy trading business. In 2007, Rajan joined the Acumen Fund in New York where he spent 5 years leading the development and funding of several portfolios and funds, concluding his tenure with Acumen as Deputy Chief Investment Officer. Prior to joining PGA, Rajan was a Managing Director at the Macquarie Group, where he was charged with the determination of the feasibility of the launch of a $300 mm PE fund to provide growth capital to infrastructure-related companies addressing underserved communities in the developing world. Rajan has a Bachelor of Science from the Wharton School of the University of Pennsylvania.

Jim Lydotes , Director, The Boston Company Asset Management, LLC Jim is a Portfolio Manager on the Global Infrastructure Dividend Focus Equity strategy and a Research Analyst on The Boston Company’s Global Equity strategy. He is responsible for research coverage of the non-US healthcare, industrial and technology sectors, in addition to assisting in the development and enhancement of the quantitative stock-selection models of the Global Equity portfolio management team. He has also worked in the Operations and Technology departments. Before joining the firm, Jim served as a Fixed Income Business Analyst at Wellington Management Co. He holds a B.A. in Economics from Syracuse University. 2014 Summit – Speaker Bios

Eric Macy, CFA, Managing Director, Fiduciary Solutions, Russell Investments Eric Macy is a Managing Director, Fiduciary Solutions, responsible for establishing new investment management relationships with corporations, health service organizations, foundations, endowments, and public plans throughout the United States. Eric’s team works as a strategic partner with investment committees, boards, and chief financial officers to deliver total portfolio outcomes through multi-asset investment solutions. Eric is a member of the Americas Institutional Executive Committee. Prior to Russell, Eric worked at Mercer where he was a Principal in their Investment Management business. In that role, Eric was responsible for building and maintaining Mercer’s investment management relationships with large institutional clients in the northeastern and mid-Atlantic United States. He helped deliver customized investment solutions to defined benefit plans including LDI and risk management strategies. Eric was a member of Mercer’s market leadership teams. Eric earlier spent twelve years at Brown Brothers Harriman, where he held positions in institutional sales, relationship management, brokerage, and new product development, including an international assignment in London. Eric has also held positions in the fields of international trade and economics in both Brussels, Belgium and Washington, D.C. He received his B.A., Economics (honors), University of California, San Diego. He is a CFA Charterholder and Licensed Registered Representative, FINRA Series 7, 63 and 24 (Russell Financial Services, Inc., member FINRA).

Margaret McConn, Vice President, Chief Financial Officer, Chief Investment Officer, Rockwell Fund, Inc. Margaret E. McConn is the Vice President, Chief Financial Officer, and Chief Investment Officer at Rockwell Fund, Inc., a private foundation located in Houston, Texas, and also serves as a Trustee on the Board. A Dallas native, Margaret followed her family’s tradition and attended Rice University where she earned both her B.A. (1976) and then her MAcco (1977) from the Jesse H. Jones School of Business. She started her career in the tax departments of the “Big 8” firms Arthur Andersen and Coopers & Lybrand before opening her private practice specializing in high wealth individuals, privately held companies, and non-profit organizations. She was asked to join the Rockwell Fund Board in 2003, and joined the staff at that time as well. Margaret and her husband John have 5 grown children, and enjoy golf and traveling.

Charles McKenzie, CFA, CFP, Head Institutional Solutions, Global Asset Allocation, Pyramis Global Advisors Charles McKenzie leads the creation of custom solutions designed to meet the specific needs of retirement plan sponsors, sovereign wealth funds, endowments, foundations, family offices, and high-net-worth investors. Chuck joined Fidelity in May 2012 to lead the Global Asset Allocation Institutional Solutions group, assessing the needs of institutional clients and ensuring the capabilities of the Global Asset Allocation division are appropriately aligned to meet their needs. Prior to joining Fidelity, he served as president and chief executive officer of DG Capital Management, a privately owned registered investment advisor, from 2009 to 2010. Prior to DG Capital, Chuck was chairman, chief executive officer, chief investment officer, and chief marketing officer at OFI Institutional Asset Management (“OFII”), a subsidiary of OppenheimerFunds, from 1999 to 2009. He helped build, and eventually led, the institutional division at OppenheimerFunds. Over his six year tenure as chairman and chief executive officer of OFII, institutional assets under management increased from approximately $2 billion to nearly $20 billion. Chuck has also held investment, consulting, and management positions with MetLife Investment Subsidiaries, Wyatt Asset Services, Hewitt Associates, and Unum. Most recently, he served as a member of the Geode Capital Management Board of Directors before taking his role within Fidelity’s Global Asset Allocation division. Chuck earned his bachelor of arts degree in mathematics, political science, and education from Bates College and his master of business administration degree from the University of Chicago. He is a Chartered Financial Analyst charterholder and a Certified Financial Planner professional.

Margaret G. McKnight, Managing Director and Co-Chief Investment Officer, Metropolitan Real Estate Margaret G. McKnight is a Managing Director and Co-Chief Investment Officer of Metropolitan. Ms. McKnight and David M. Sherman jointly direct the investment policy and program across all Metropolitan Real Estate partnerships. In addition, Ms. McKnight is also responsible for sourcing and evaluating investment opportunities in the U.S. Prior to joining Metropolitan, Ms. McKnight spent six years with Cambridge Associates where she led their real assets specialist consulting practice. She advised clients on all aspects of building real assets portfolios, from setting policy to selecting and monitoring managers. Prior to joining Cambridge Associates, Ms. McKnight spent eleven years with J.P. Morgan where she was a Vice President, Real Estate Equity Investments, and served on the investment team of the Argo Partnerships. Prior to that role, she was part of the investment banking group at J.P. Morgan; her advisory assignments included an extensive review and restructuring of an $8 billion national real estate portfolio and the sale of a subsidiary of The Equitable (at that time the nation’s largest real estate investment management company). Ms. McKnight graduated with high honors from Swarthmore College and earned an M.B.A. from New York University. 2014 Summit – Speaker Bios

Frank Nessel, Senior ERISA Consultant, Vanguard Frank Nessel is a senior consultant in Vanguard Strategic Retirement Consulting, where he oversees technical services. Mr. Nessel is responsible for assisting Vanguard's institutional clients with the interpretation and application of compliance requirements that relate to their qualified retirement plans. Mr. Nessel has experience in a broad range of employee benefits matters, including health and welfare plans, nonqualified plans, and equity-based compensation arrangements. Before joining Vanguard in 1999, Mr. Nessel was employed at PricewaterhouseCoopers, where he managed the compliance practice for the mid-Atlantic region. Mr. Nessel earned a B.S. in accounting from Saint Joseph's University and a J.D. from Temple University School of Law. He is an attorney licensed in Pennsylvania and New Jersey. His professional experience includes: Bluestein, Mirarchi & Susman, 1978–1981, Touche, Ross & Co. (Deloitte & Touche), 1981–1983, Sedgwick Noble Lowndes, 1984–1996, PricewaterhouseCoopers, 1996–1999, and Vanguard, 1999–Present. He is a member of New Jersey and Pennsylvania Bar.

Timothy C. Ng, Chief Investment Officer, Clearbrook Tim joined the firm in 2010 and is the Chief Investment Officer at Clearbrook. Tim is also the head of the Clearbrook Investment Committee. Within this role, Tim is involved in global macro and manager research, portfolio analysis and risk management. Prior to Clearbrook, Tim was President and Chief Investment Officer of Structured Investments Group, LLC. Tim began his career in 1982 and has served as an alternative investment and hedge fund advisor in numerous capacities. Previously, Tim was a Managing Partner with Access International Advisors and has held the title of Senior Vice President in varying roles at Prudential Securities, Smith Barney, and Oppenheimer & Company. During his career, Tim was one of the first advisors to place investor capital into hedge funds, portable alpha portfolios, structured/hedge fund linked notes, and insurance dedicated hedge fund products. Tim has had oversight of more than $5 billion of investor capital on behalf of corporations, pension funds, endowments and foundations, banks, investment advisory firms, and family offices. Tim is a Board member of Clearbrook Global Advisors. He has been a holder of securities licenses Series 3, 7, 24, 63 and 65. Tim received a BA in Economics from Stony Brook University and an MBA with honors from Long Island University.

Michael Noto, Chairman, Stamford Policemen's Pension Fund Lieutenant Michael A. Noto of the City of Stamford, Connecticut Police Department has been in law enforcement for 23 years. He has a B.S. Degree in Criminal Justice from Pace University, New York and earned his law degree from Fordham University School of Law, NY. He has served on the board since 2007 and was named Chairman of the Stamford Policemen’s Pension Trust Fund in 2010. The board oversees the trust with $195 million in assets.

Joseph Nugent, Director, Private Equity and Real Assets, Asset Consulting Group Joe is a senior member of Asset Consulting Group’s research team and is responsible for overseeing all aspects of manager identification, due diligence, selection and monitoring for investments in private equity and real assets. Joe works closely with clients that have significant allocations to private equity and real asset strategies, assisting with the strategic development and implementation of client’s overall private market investment programs. Prior to joining ACG, Joe worked at State Street Corporation where he specialized in the valuation of complex or illiquid securities. Joe is a graduate of Avila University where he earned a Bachelor of Science degree in Accounting.

Carl O'Connell, Director, Senior Relationship Manager, The Boston Company Asset Management, LLC Carl is a Senior Relationship Manager, servicing corporate, public, endowment and foundation clients. Previously, he managed client relationships throughout the South, Southwestern and Mid-Atlantic U.S., and he has also been an Associate Portfolio Manager and a Business Analyst in the Operations Department, playing a significant role in transitioning new clients to the firm. He holds a B.S. with a concentration in Finance from the University of Massachusetts at Lowell.

Ken Robertson, Principal, Advisor, Weems & Robertson Prior to co-founding Weems & Robertson, Mr. Robertson worked for 23 years as a principal of The 401(k) Company, a boutique 401(k) record-keeping firm known for its absolute quality, innovation and independence. He served as an Executive Vice President and Chief Investment Officer for the firm and its affiliated broker/dealer and investment adviser until the firm was purchased by Charles Schwab Corporation in April 2007. He remained there for nearly two years serving as Vice President and Chief Investment Officer for the firm’s 401(k) business while the merger was being completed. Over the years, Mr. Robertson has earned respect as an expert on ERISA issues that face 401(k) plan sponsors. He served for nearly a decade as a Contributing Editor (“Investment Corner”) to Panel Publishers 401(k) Adviser, and was the Editor and principal contributor to The 401(k) Company’s plan sponsor newsletter. Mr. Robertson also served on the advisory committee for Ibbotson Associates, and served on the accreditation guidance committee for the International Foundation for Retirement Education. Prior to entering the investment consulting business in 1986, Mr. Robertson worked as a minister, college teacher, and social worker. He received his Bachelor of Arts in Psychology and Philosophy from The University of California at Santa Cruz, and has a Masters of Theology from the Episcopal Theological Seminary of the Southwest. 2014 Summit – Speaker Bios

Thomas Rose, Director, BlackRock Thomas Rose, CFA, Director, is a member of the US and Canada Institutional team within BlackRock's Institutional Client Business. He is responsible for developing and maintaining relationships with institutional investors, including public and private pension plans, foundations and endowments. Mr. Rose's service with the firm dates back to 2004, including his years with Barclays Global Investors (BGI), which merged with BlackRock in 2009. At BGI, he was a client relationship associate in the ClientConnect Group, where he was responsible for servicing pension and non-profit clients. Previously, he worked at Shareholder.com as an account executive. Mr. Rose earned a BA degree in general business from Texas Christian University in 1996 and an MBA degree in finance from the University of San Francisco in 2003.

Ken Sarafa, Senior Vice President, Voya Investment Management Ken Sarafa is an institutional sales and relationship manager for Voya Investment Management, responsible for institutional distribution in the Midwest and Central United States, focusing on the corporate and foundation/endowment markets. Prior to joining the firm, he was director of institutional investment services with Munder Capital. Previously, Ken worked as a consultant, both at Mercer as the managing principal and head of their Detroit office and with Hewitt in their Chicago and Detroit offices. Ken began his career working for Ford Motor Company. He has 23 years of experience. Ken received a BBA from the University of Michigan and an MBA from the J.L. Kellogg Business School of Northwestern University. He holds FINRA Series 6, 7 and 63 licenses.

Derek Sasveld, Senior Vice President, Head of Asset Allocation, Voya Investment Management Derek Sasveld is head of asset allocation for Multi-Asset Strategies and Solutions (MASS) at Voya Investment Management. He is responsible for tactical and strategic asset allocation decisions on all of the MASS team’s products. Previously, Derek was partner, investment strategy at Strategic Investment Group in Arlington, Virginia. There, he worked closely with investment, research, and analytical staff in developing, implementing and communicating investment policies and strategies for the firm’s clients. Prior to joining Strategic, Derek was managing director and senior asset allocation strategist for UBS Global Asset Management (formerly Brinson Partners) where he assisted in the setting and communication of portfolio strategy for multi-asset class mandates. He engaged in the critical review of asset class valuation and market pricing models and oversaw the due diligence and implementation processes for allocations to illiquid asset classes. Prior to that, he was with Ibbotson Associates (later acquired by Morningstar), finishing his tenure as a senior consultant. Derek received an MBA from the University of Chicago, Booth School of Business and a BS in finance from the University of Illinois at Urbana-Champaign. He is a member of the CFA Institute, and has completed the Series 3 and 65 securities examinations

Robert J. Schoen, Co-Head of Global Asset Allocation and Portfolio Manager, Putnam Investments Mr. Schoen is a Co-Head of Global Asset Allocation in the Global Asset Allocation (GAA) group. In partnership with the other GAA Co-Heads, he is responsible for overall strategy and positioning of Putnam’s GAA products. His primary responsibilities include overseeing equity security selection strategies, portfolio construction and risk management for all GAA portfolios. His work contributes to Putnam’s Capital Markets Outlook. Mr. Schoen is a Portfolio Manager of Putnam Multi-Asset Absolute Return and Total Return institutional strategies, all Global Asset Allocation mutual funds, and the Putnam Low Volatility Equity product group. Mr. Schoen joined Putnam in 1997 and has been in the investment industry since 1990. Previously at Putnam, he was Head of the Quantitative Models Group and an analyst for the Global Asset Allocation group. Before joining Putnam, Mr. Schoen was an independent financial consultant from 1992 to 1997 and Head of Research at Signalert Corporation from 1990 to 1992. Mr. Schoen holds an M.B.A. from New York University’s Stern School of Business and a B.A. from Tufts University.

Cynthia Fryer Steer, Executive Vice President, BNY Mellon Investment Management Cynthia is responsible for performance oversight, due diligence, and analysis of investment performance across BNY Mellon Investment Management. In addition, she serves as senior investment advisor to the executive management of BNY Mellon Investment Management and is a member of the BNY Mellon Benefit Investment Committee. Cynthia also focuses on measuring and analyzing the firm’s investment strategies, as well as its overall solutions effort. Cynthia has more than 20 years of investment experience with senior roles at Russell Investments and Rogerscasey as well as having served as chief investment officer for the City of Hartford and SBLI, a New York-based insurance company. Cynthia has been a member of the Global Emerging Markets Local Currency Bond Initiative (GEMLOC) Committee of the World Bank since 2005, and has served as the Chairwoman of GEMLOC since 2009.

Richard Tettamant, Retired Administrator, Dallas Police and Fire Pension System Richard Tettamant served as Administrator of the Dallas Police and Fire Pension System (the System) for over 20 years, and over 30 years in pension system management. During his tenure, the System's assets grew from $120 million to about $3.7 billion in assets under management. Mr. Tettamant began his career as a successful entrepreneur and owner of a Baskin-Robbins ice cream franchise in Oakcliff section of Dallas Tx. He taught ninth grade math at Sara Zumwalt School in the Dallas Independent School District before joining the City of Dallas where he worked for 27 years for the pension fund as the Benefit Specialist, Assistant Administrator 2014 Summit – Speaker Bios and finally the Administrator. During his tenure with the City, he served for over 10 years as an employee-elected Trustee of the City of Dallas 401(k) Board of Trustees and more than four years as an employee-elected Trustee of the City of Dallas 457 Board of Trustees. Mr. Tettamant holds a Bachelor of Arts degree from the State University of New York at Geneseo and a Master of Business Administration degree from the University of Texas at Arlington.

John E. Thompson, Jr., President & Executive Director, National Society of Institutional Investment Professionals John Thompson has been the President of the National Society of Institutional Investment Professionals since founding the organization in 2006. In July 2012 he was named Executive Director with responsibilities that include coordinating the organization’s annual Summit. He retired after 38 years with from Energy Future Holdings with more than 20 years of pension investment experience. He was responsible for of managing all the company's external trust funds including defined benefit plans, defined contribution plans, various non-qualified plans, and nuclear decommissioning trusts totaling $4.5 billion in assets. He is a founding board member of the National Society of Institutional Investment Professionals, President of the Dallas Chapter, and has been active in all 20 Annual Summits, which he helped begin in 1995. In addition he is chairman of the Investment Committee for the Circle Ten Council Boy Scout Foundation and a Baptist Foundation of Texas Board Member. He was a member of the Utility Pension Fund Study Group and the Nuclear Decommissioning Fund Study Group. He previously served on the editorial board of the Journal of Pension Plan Investing, and the Pension Policy and Legislation Committee for the Texas State Pension Review Board. He earned a BS in Business from Texas Wesleyan University in Ft. Worth, and an MBA in Finance from The University of Texas at Arlington. His master’s thesis was “An Analysis of the Financial Aspects of a Trustee Pension Plan.”

Thomas Urano, CFA, Principal, Managing Director, Sage Advisory Services, Ltd. Co. Thomas is a Principal and Managing Director of the firm and a member of the investment committee. He serves as a portfolio manager and senior trader for the taxable fixed income and equity strategies. Thomas received his B.A. in Economics from The University of Texas and is a Chartered Financial Analyst. Before joining Sage, he was a Fixed Income Trader with Credit Suisse Asset Management in New York. He was also a former Fixed Income Portfolio Accountant for Morgan Keegan. Thomas brings over 15 years of experience in client account management and fixed income trading to the firm and is a member of the CFA Institute.

Jeff Willardson, CFA, CQF, Managing Director, Pacific Alternative Asset Management Company Jeff Willardson is a member of the four-person Portfolio Construction Group (PCG), with chief responsibility to set top down portfolio strategy and construction across PAAMCO’s diversified Moderate Multi Strategy (MMS) solution. Jeff is also a Portfolio Manager in the Portfolio Solutions Group with responsibility to construct customized portfolios for individual clients. Additionally, Jeff serves as our Head of the Account Management Committee and is responsible coordinating and executing on various strategic firm issues. Throughout his career at PAAMCO, Jeff has conducted research, due diligence and risk monitoring for managers across all PAAMCO strategies with an emphasis on credit strategies, emerging markets and real estate. Prior to joining PAAMCO Jeff spent five years at Goldman, Sachs & Co. in the Investment Management Division. Jeff received his MBA (Dual Finance and Real Estate Major) from The Wharton School, University of Pennsylvania, and he holds a BS in Management (Finance Major) from Brigham Young University.

Donna Chapman Wilson, Director of Portfolio Management, Invesco Donna Chapman Wilson is a director of Portfolio Management responsible for the client portfolio management team in the US for Invesco Quantitative Strategies (IQS). IQS manages a variety of equity strategies, including enhanced, active core, low volatility, and long/short, on a regional and global basis. She also serves as a member of IQS’s management team responsible for strategic planning and direction. Ms. Chapman Wilson has almost 20 years of experience in the investment management industry. She joined Invesco in 1997 and worked with the fundamental growth equity teams before moving to the quantitative strategies team in 1999. Prior to joining Invesco, she held positions with J.P. Morgan, General Motors Asset Management, Mercer Investment Consulting and the Federal Reserve Board of Governors. Ms. Chapman Wilson earned an MBA in finance from the Wharton School of the University of Pennsylvania and a BA in economics from Hampton University.

David Withrow, Director of Taxable Fixed Income, ClearArc Capital David L. Withrow is the Director of Taxable Fixed Income, responsible for the management of actively managed fixed income portfolios for ClearArc Capital. He joined ClearArc Capital in 2001 as a Senior Fixed Income Portfolio Manager and has 25 years of investment experience. Prior to that, David served in a similar capacity for Fifth Third Bank Investment Advisors. He is a member of the Cincinnati Society of Financial Analysts and a Board member for The Cooperative for Education in Cincinnati, Ohio. Mr. Withrow graduated from Anderson University with a B.A. in Economics and is a CFA charterholder. 2014 Summit – Pre-Registered Attendees Through 11/1/14

Louis W. Adams Joel Brous Russell Chapman Director - Investments Vice President Attorney AT&T Inc. Franklin Templeton Investments Littler Mendelson, P.C. Dallas, TX San Mateo, CA Dallas, TX

Rodney D. Adams Gerald Brown Fritz Cherubin, Jr. Board Member Trustee Financial Analyst City of Irving Employees Dallas Police & Fire Pension Exxon Mobil Corporation Supplemental Benefit Plan System Irving, TX Irving, TX Dallas, TX Jerry Cicalese Mark Amiri Paul R. Brown Vice President Chief Investment Officer President Abel Noser Baylor Scott & White Health TEXPERS New York, NY Dallas, TX Tool, TX Joel Costello Daniel E. Anderson Arland D. Brusven VP-Finance Director, Business Development Principal Dallas Area Rapid Transit Authority Wells Capital Management Longship Advisers, LLC Dallas, TX Los Angeles, CA Minneapolis, MN Jeffrey D. Cotham Ryan A. Bailey Jon Brusven Trustee Senior Director of Investments Principal El Paso Firemen and Policemen's Children's Health System of Texas Longship Advisers, LLC Pension Fund Dallas, TX Minneapolis, MN El Paso, TX

Mark A. Baker Michael Bullock Gerald Crean Managing Director Senior VP Vice President Clearbrook State Street Corp Wellington Management Company, Boston, MA Quincy, MA LLP Boston, MA Heidle Baskin Robert B. Butler Chairman President Wyatt L. Crumpler Irving Firemen's Relief & Butler Advisory Services, LLC Chief Investment Officer Retirement Fund Houston, TX American Airlines Irving, TX Fort Worth, TX Mary Kathryn Campion Betty Bird President Joseph Dattilo Director, Benefits Champion Research SVP, Business Development Dallas Area Rapid Transit Authority Houston, TX Pyramis Global Advisors Dallas, TX Smithfield, RI David L. Cardenas Bill Blythe Business Manager Dino Davis Retiree City of Irving Employees Institional Portfolio Manager Employees Retirement System of Supplemental Benefit Plan MFS Investment Management Texas Irving, TX Boston, MA Huntsville, TX Clinton Cary Dennis Davitt Aaron Borders Chief Investment Officer CIO Vice President Hewitt EnnisKnupp, Inc. Harvest Volatility Advisors Dimensional Chicago, IL New York, NY Austin, TX Fabio Cecutto Thomas Deegan Jeffrey Boucek Head of Global Equity Manager Managing Director SVP-Nat'l Director of Public Funds Research Clearbrook Segal Rogerscasey Towers Watson New York, NY Atlanta, GA New York, NY Matt Paul DenBleyker Jerry Bramlett Michael Chambers Senior Research Director Owner Executive Director LT & A Bramlett Consulting Morgan Stanley Investment Mgt. Dallas, TX Fredericksburg, TX New York, NY 2014 Summit – Pre-Registered Attendees Through 11/1/14

Greg Dowell Brian Grosheider Erin Kraxberger Investment Consultant Vice President Finance Investor Relations GK Investments Southwestern Medical Foundation Carlson Capital, L.P. Carrollton, TX Dallas, TX Dallas, TX

Max S. Duplant Eddie Guerra Tom R. Kuchler Assistant City Manager Committee Member Investor Relations City of Irving Circle Ten Council Foundation, Carlson Capital, L.P. Irving, TX BSA Dallas, TX Dallas, TX Roy Eriksen Rajan Kundra President Ron Hagan Managing Director Goliath Capital Management Chairman & CEO Pacific Global Advisors Houston, TX Roland/Criss New York, NY Arlington, TX Kevin Fetzer Crystal Kwok Investment Management James Heaton Vice President William Blair & Company Senior Vice President Federated Investors Chicago, IL Federated Investors Pittsburgh, PA Pittsburgh, PA Cynthia Floyd Yaroslav Kyrpych Manager, Employee Benefit Fund Casey Herren Analyst Investments Institutional Sales Director Exxon Mobil Corporation Texas Instruments Behringer Dallas, TX Dallas, TX Addison, TX Tony Lintelman David J. Free Greg Jenkins Sr VP/CFO Regional Director Sr. Director Buckner International Russell Investments Invesco Dallas, TX Chicago, IL Dallas, TX James Lydotes Scott Freeman Nazneen R. Kanga Director Senior Vice President & Principal Sr. Vice President The Boston Company Asset LCG Associates, Inc. Northern Trust Management, LLC Dallas, TX Stamford, CT Boston, MA

Roger Freitas Carol Kilman Eric Macy VP-Institutional Clients Senior Investment Officer Managing Director, Fiduciary Itaú USA Asset Management Inc. Baptist Foundation of Texas Solutions New York, NY Dallas, TX Russell Investments New York, NY Andreea Georgiu Kenneth G. King VP of Business Development Director, Client Services & John Manley Cornerstone Capital Management Operations, BSAAM Senior Relationship Manager Holdings Boy Scouts of America, National William Blair & Company New York, NY Irving, TX Chicago, IL

Richard O. Giberson Earl Kleckner Elgin Marsted Partner Managing Director-Business Dev. Vice President Hewitt EnnisKnupp, Inc. Harvest Volatility Advisors Asset Consulting Group Dallas, TX New York, NY St. Louis, MO

Colvin Gibson Randall L. Kopsa Carl J. Martin Trustee Manager, Treasury Corporate Accounting Manager Irving Firemen's Relief & Boy Scouts of America, National Energy Future Holding Corp. Retirement Fund Irving, TX Dallas, TX Irving, TX Robert Kowit Emily L. Martin Bob Greer Sr. VP-Product Specialist Secretary EVP, Product Manager Federated Investors Woodrow Wilson High School PIMCO Pittsburgh, PA Community Foundation Newport Beach, CA Dallas, TX 2014 Summit – Pre-Registered Attendees Through 11/1/14

John Masdea J. Scott Musick David J. Pittman Institutional Sales Market Leader Congressional Advocate T. Rowe Price Associates, Inc. Towers Watson Investment Services University of Texas San Francisco, CA Dallas, TX Dallas, TX

Margaret McConn Eric E. Nedderman Adriana Posada Vic Pres., CFO & CIO Investment Manager Sr. Portfolio Manager Rockwell Fund, Inc. Contran Corporation American Airlines Houston, TX Dallas, TX Fort Worth, TX

Todd McCullough Frank Nessel Ryan Quinn Regional Director of Sales Senior ERISA Consultant Investment Analyst ClearArc Capital, Inc. Vanguard Southwestern Medical Foundation Cincinnati, OH Wayne, PA Dallas, TX

John B. McGowan Timothy Ng Faisal A. Rajani Vice President, Institutional Sales Chief Investment Officer Chief Investment Officer T. Rowe Price Associates, Inc. Clearbrook Boy Scouts of America, National Baltimore, MD New York, NY Irving, TX

Kevin McKane Michael Niosi Frederic D. Richmond Sales Director Director VP and CIO Wells Capital Management Prudential Fixed Income Texas Scottish Rite Hospital for Charlotte, NC Newark, NJ Children Dallas, TX Chuck McKenzie Michael Noto Head of Institutional Sales/Global Lieutenant/Chairman David Robbins Asset Allocation Stamford Policemen's Pension Trust Director Institutional Investment Pyramis Global Advisors Fund Services Boston, MA Stamford, CT Lord Abbett & Co. Jersey City, NJ Gregory McLane Joseph F. Nugent Senior VP Director Ken Robertson Swearingen Realty Group Asset Consulting Group Principal Dallas, TX St. Louis, MO Weems & Robertson Austin, TX Jim Meehan Carl T. O'Connell Managing Director Director Thomas Rose PAAMCO The Boston Company Asset Vice President Irving, CA Management, LLC BlackRock Boston, MA San Francisco, CA Robert M. Milone Assistant Treasurer Daniel E. O'Grady Gary D. Samberson Methodist Health System of Dallas Executive Director - Investments Treasury Director Dallas, TX AT&T Inc. American Heart Association Dallas, TX Dallas, TX Brooks Monroe Client Portfolio Manager Paul Olschwanger Ken Sarafa INVESCO Real Estate Director, Non Profits Sr. Vice President Dallas, TX Russell Investments Voya Investments Seattle, WA Southfield, MI Teresa Moore Executive Director Tom Page Derek Sasveld North Texas Chapter, PPP Director - Relationship Head of Asset Allocation Dallas, TX Management Voya Investments BMO Global Asset Management New York, NY Kellie L. Morrison Chicago, IL Senior Investment Officer Robert Schoen Baptist Foundation of Texas John S. Palmer Co-Head of Global Asset Allocation Dallas, TX Director, Institutional Management Putnam Investments Putnam Investments Boston, MA Boston, MA 2014 Summit – Pre-Registered Attendees Through 11/1/14

Nathan J. Scott Cynthia Thatcher Paul W. Willey Senior Manager Investments Portfolio Manager Retirement Committee Member Texas Mutual Insurance Company American Airlines Methodist Hospital Health System Austin, TX Fort Worth, TX of Dallas Dallas, TX Douglas Smith John E. Thompson, Jr. Sr. Investment Consultant, Hedge Investment Committee Chair Donna Wilson Fund Circle Ten Boy Scout Foundation Director - Portfolio Manager Towers Watson Dallas, TX Invesco New York, NY New York, NY Donald C. Uber James Smith Sr. VP Investor Relations Dave Withrow Senior VP Tri Global Energy, LLC Director of Fixed Income Funds PineBridge Investments Dallas, TX ClearArc Capital, Inc. New York, NY Cincinnati, OH Thomas Urano Michael Edward Smith Portfolio Manager Daniel Wojcik Executive Director Sage Advisory Trustee J.P. Morgan Asset Management Austin, TX Dallas Police & Fire Pension Dallas, TX System Dennis Veal Dallas, TX Dean Somes Assistant Treasurer VP Dresser-Rand Joe H. Wright Cross Capital Partners Houston, TX Senior VP & CIO Dallas, TX Baptist Foundation of Texas Joel Viruet Dallas, TX David C. Stacy Senior Treasury Analyst Vice Chairman Kimberly-Clark James Zadrozny Midland Firemen's Relief and Irving, TX Senior Vice President Retirement Fund Pyramis Global Advisors Midland, TX Richard Walsh Smithfield, RI Senior Relationship Manager Cynthia Steer OFI Global Asset Management Executive VP Waccabuc, NY BNY Mellon New York, NY Cayce Weems Principal Frederik A. Stewart Weems & Robertson Senior Vice President Austin, TX LCG Associates, Inc. Atlanta, GA Matt James Westhoven Relationship Manager Ranjit Sufi MFS Investment Management Managing Director Boston, MA Aristotle Capital Management Los Angeles, CA Timothy D. Westrich Principal Alan S. Taper Mercer Partner St. Louis, MO Aon Hewitt Dallas, TX Jason Widener Institutional Sales John Taylor, III OFI Global Asset Management Managing Director Decatur, GA Metropolitan Real Estate New York, NY Jeff Willardson Managing Director Richard L. Tettamant PAAMCO Senior Advisor Irving, CA Formerly Dallas Police & Fire Pension System Colleyville, TX 2014 Summit – Underwriters

2014 Summit – NSIIP

2014 Summit Underwriters

Carl T. O’Connell The Boston Company Asset Management

Ken Sarafa Voya Investment Management

Monday, November 10, 2014 Opening Networking Reception

Tuesday, November 11, 2014 2014 Summit and Luncheon Closing Networking Reception

Private Dinner Sponsors

Monday, November 10, 2014 (for Plan Sponsors, Foundations, Endowments, Family offices and Consultants) Dinner in the Gallery Room at the Four Seasons Las Colinas

Carl T. O’Connell – The Boston Company Asset Management Ken Sarafa – Voya Investment Management

Summit Program

2014 Summit Coordinated by: John E. Thompson, Jr., NSIIP President & Executive Director

2014 Summit Advisors: NSIIP Texas Advisory Board

National Society of Institutional Investment Professionals Board of Directors John E. Thompson, Jr., President & Executive Director Bruce Cox, Vice President David J. Pittman, Vice President Bill Blythe, Vice President Jim Harrell, Treasurer Randall L. Kopsa, Secretary