PERAC Memo #3 - 1999: Appointment of New Assistant Finance Director for Investments

PERAC MEMO #3/ 1999 M E M O R A N D U M TO: All Retirement Boards FROM: Robert A. Dennis, Assistant Finance Director DATE: January 22, 1999 I am pleased to have joined PERAC this week as Assistant Finance Director and head of the Investment Unit. Having begun my professional career in city government, I have joined PERAC after more than twenty years in the investment management business with two of Boston’s leading firms. I was a securities analyst, portfolio manager, and departmental supervisor. My responsibilities afforded me a solid background in all major capital markets, experience in dealing with investment consultants, and an overall familiarity with the players, practices, and processes in the investment management business. One of my major roles at PERAC will be to serve as a resource to the local boards regarding the overall economic and investment outlook, specific asset classes and asset allocation concerns, and issues regarding the capabilities, strategies, and performance of specific investment managers. I look forward to visiting local boards throughout the year and participating in PERAC- sponsored seminars. I will be preparing periodic reports on pertinent and timely investment matters, and I encourage your suggestions on other ways I can be helpful to you. As you know, this is a very challenging and interesting time in investment management, not only in terms of the domestic and global economic outlooks, but also in the relative valuation of major asset classes. I look forward to working with you to achieve your board’s investment objectives.