Treasurer Briner Appoints Four Members to State’s Investment Advisory Committee

State Treasurer Brad Briner today announced four new members to the state Investment Advisory Committee.

The appointees are Robert Durden, CEO/CIO at the University of Virginia; Michael Kennedy, former Senior Client Partner with Korn Ferry; Jamey Spencer, Managing Director and shareholder at Pathstone; and Dan Ward, CIO at Greenhawk Family Office.

"North Carolina's state employees, retirees, and taxpayers deserve to know that their pension fund is safe and performing at a level that will help them have a happy retirement," said Treasurer Briner. "Our vision is to generate best-in-class long-term investment performance. North Carolina's pensions realized almost 1.4% lower annual performance than the average pension in the United States over the last 10 years. North Carolina deserves better, and this group of professionals will help ensure that we are maximizing returns at an appropriate level of risk."

The IAC is a six-member body with advisory authority only. Under its charter, it is chaired by the state treasurer, who appoints its members. Duties include evaluation of governance, operations and investment practices, changes to the strategic asset allocation and other investment policies, performance and cost reports, and performance of the Chief Investment Officer.

Two IAC members are appointed from among the six systems administered under the Retirement Systems Division, and four members are selected from the general public. Durden, Kennedy, Spencer and Ward were appointed as the general public representatives.

Robert Durden

As CEO/CIO of the University of Virginia Investment Management Company, he oversees all operational aspects and is the primary representative to the university, related foundations and the public. He is responsible for investment management of the long-term pool, and oversees asset allocation, portfolio management, risk management and manager selection activities of the investment staff. A graduate of Princeton University with a B.A. in economics, magna cum laude, he holds an MBA in finance and entrepreneurship with honors from the University of Chicago's Booth School of Business.

Michael Kennedy

Formerly serving as Senior Client Partner in the Atlanta office of Korn Ferry, he conducted senior-level investment assignments for pension funds, endowments and foundations. He also served as the Board and Investment Committee Chair at the Georgia Employees Retirement System, and currently serves on the Board of the UNC Management Company. He earned an MBA from Harvard Business School, and a bachelor's degree with highest honors in history and political science from UNC Chapel Hill.

Jamey Spencer

As a Managing Director and shareholder at Pathstone, he is responsible for developing investment strategy, and constructing and managing client investment portfolios. He received a bachelor's degree in business from Wake Forest University, magna cum laude, and an MBA from Harvard Business School.

Dan Ward

A former CIO for the Virginia Tech Foundation, he is currently CIO at Greenhawk Family Office, where he leads investment strategy and portfolio management. Greenhawk is a private investment firm with a focus on real estate investment and development, private equity, venture capital and public equity investments. He received a bachelor's degree from the University of Michigan and an MBA in finance from the University of Florida's Warrington College of Business.