Board & Leadership

About Us

Board of Trustees

The SWIB Board of Trustees consists of nine members meeting specific membership requirements under section 15.76 of the statutes. Trustees have a fiduciary responsibility to act solely in the best interest of the funds under management. They appoint the executive director/chief investment officer and the director of internal audit. The Board of Trustees is responsible for setting long-term investment policies, asset allocation, benchmarks, and fund level risk and monitoring investment performance.

Contact The Board

Clyde Tinnen is a corporate partner in the Milwaukee office of Foley & Lardner LLP. He represents fund sponsors in connection with the formation and operation of private investment funds, investments, and securities law reporting and compliance. Clyde also advises public corporations in Exchange Act reporting, and public and private corporations in negotiating and structuring complex business transactions. Before joining Foley & Lardner LLP, Clyde was a partner at two other large international law firms. Prior to working as a lawyer, Clyde was a senior financial analyst for two public corporations. Clyde received his B.A. from the College of William and Mary, his M.B.A. from the University of Connecticut School of Business, and his law degree from Columbia Law School.

Clyde Tinnen
Board Chair

Public Member

Tom Merfeld is the retired chief risk officer and chief financial officer of TruStage Financial Group in Madison. Prior to TruStage Financial Group, he was the chief financial officer for a life reinsurance company in Kansas City. He was also an investment analyst for Franklin Savings Association and an assistant economist for the Federal Reserve Bank of Kansas City. He is currently a board member of both SSM Health in St. Louis and Dominican Veritas Ministries, which sponsors nine Catholic schools nationwide. Tom, who is a Chartered Financial Analyst (CFA) charterholder and a Certified Public Accountant (CPA), earned his bachelor’s and master’s degrees from the University of Iowa; his MBA from Rockhurst University in Kansas City, Mo.; and his Ph.D. from Marquette University.

Tom Merfield
Vice-Chair

Public Member

Esther Ancel is an emeritus professor of finance in the Lubar School of Business Administration at the University of Wisconsin-Milwaukee. Her areas of research and teaching are in investments and corporate finance. She is a member of the Department of Employee Trust Funds’ Teachers Retirement Board. Currently she is treasurer of the Milwaukee Jewish Federation and serves on its finance and investment boards. She earned her bachelor’s and master’s degrees in mathematics from the University of Wisconsin-Madison, and she holds a PhD in finance from the University of Texas-Austin.

Esther Ancel

Public Member

Kathy Blumenfeld was selected as the secretary-designee of the Department of Administration by Gov. Tony Evers and began her role in January 2022. From 2019 to 2021, Kathy led the Wisconsin Department of Financial Institutions, where her priorities included financial literacy and protecting consumers from financial fraud. Prior to state service, she was the executive vice president of special operations at TASC (Total Administrative Services Corporation), leading a federal contract modernizing the workplace charitable giving program for all federal employees and retirees. Kathy previously served as vice president of lending and payment security at CUNA Mutual Group, where she​ worked for 26 years, co-founded the Women’s Leadership Network, and served on the Diversity and Inclusion Council. She also served 10 years on the board of Summit Credit Union, culminating in the role of board chair, and recently served on the Unity Point Meriter Board of Directors. Kathy began her career as a Certified Public Accountant and holds a bachelor’s degree in accounting and political science from the University of Wisconsin-Madison. She is the author of three books, and is passionate about community service, philanthropy, and tennis.

Kathy Blumenfeld

Secretary-designee of the Department of Administration

Barb Bolens has over 35 years of experience in strategy, capital raising and deployment, retirement and pension plan management, M&A, and investor relations operations at publicly traded global companies with revenues of $600 million to $20 billion. She is currently the director of the Nicholas Center for Corporate Finance and Investment Banking at the University of Wisconsin School of Business full-time MBA program. Prior to this role, she was the executive vice president of strategy and investor relations/communications at Enerpac Tool Group. She was also vice president and treasurer of Komatsu America, Joy Global Inc., and Brady Corporation and director of investor relations/assistant treasurer at Quad. Barb served on the Advisory Board of Alto Shaam for five years and currently is the vice president/treasurer of the Skylight Music Theater and is on the advisory board of Milwaukee Women Inc. Barb has completed the Women’s Director Development Program at Northwestern’s Kellogg University. She holds an MBA with a specialization in finance from the University of Wisconsin-Milwaukee and BBA in marketing from the University of Wisconsin-Madison. In 2009, the Milwaukee Business Journal named her a Women of Influence at the Corporate Executive Level. In her free time, she enjoys training for and competing in triathlon events.

Barb Bolens

Public Member

J. Michael Collins is the Fetzer Family Chair in Consumer & Personal Finance in the School of Human Ecology, a Professor at the La Follette School of Public Affairs, and the Associate Director for Training and Research at the Institute for Research on Poverty. He leads the UW Retirement and Disability Research Consortium research center funded by the Social Security Administration. Collins studies consumer decision-making in the financial marketplace, including the role of public policy in influencing credit, savings and investment choices. Collins brings two decades of applied experiences and consulting to his research. He co-founded SpringFour, an online resource for people facing financial challenges and serves on the boards of financial institutions and retirement plans. He holds a Masters from the John F. Kennedy School of Government, a PhD from Cornell University, and a BS from Miami University (OH).

J. Michael Collins

Educator, WRS participant 2

Jeff DeAngelis is the former chief investment officer of the Northwestern Mutual Wealth Management Company and former president of Mason Street Advisors. He also was a portfolio manager at Putnam Investments and Van Kampen Investments. He is currently a board and investment committee member of Cavamont Holdings, chair of the investment committee of the United Negro College Fund, and is a trustee at Carroll University in Waukesha where he serves as chair of the university’s investment committee. He is the co-founder of the Milwaukee-based non-profit Unity in Motion. Jeff, who is a CFA charterholder, earned his bachelor’s degree from Carroll University and his MBA from Marquette University.

Jeff DeAngelis

Public Member

Mr. Scott has been the Director of Finance and Administration for the City of Brookfield, Wisconsin since 1999. Prior to joining the City, he served in similar financial management positions for Milwaukee Area Technical College and the cities of Franklin and Cedarburg, Wisconsin. Before entering the public sector, he was employed as an audit manager with the accounting firm of Deloitte & Touche. Mr. Scott is a Certified Public Accountant and is also recognized as a Certified Public Finance Officer and Certified Government Financial Manager by the Government Finance Officers Association (GFOA) and Association of Government Accountants, respectively.

Mr. Scott joined the Governmental Accounting Standards Board (GASB) on July 1, 2025. From June 2015 to December 2021, he served as the chairperson of the Governmental Accounting Standards Advisory Council (GASAC), the formal advisory body to the GASB, having previously served as GFOA’s representative to the GASAC starting in 2011. Mr. Scott served on the GFOA Executive Board from 2007-2010 (including ex-officio membership on the GFOA Governmental Debt Management Committee); served as vice chair of the national GFOA Committee on Cash (Treasury) Management; and is a past president of the Wisconsin Government Finance Officers Association. He was appointed by Wisconsin Governor Tony Evers as the local government member on the State of Wisconsin Investment Board in August 2024. From 2011 to 2025, Mr. Scott served as secretary/treasurer of the board of directors of Cities and Villages Mutual Insurance Company, a risk pool providing insurance and risk management services to Wisconsin municipalities. Mr. Scott holds a Bachelor’s degree in Business Administration from the University of Arizona and is a graduate of the GFOA Advanced Government Finance Institute.

Robert Scott

Local Government Member

John Voelker was appointed to secretary of the Department of Employee Trust Funds (ETF) in 2021 after serving as the agency’s deputy secretary since 2014. He has more than 30 years of public service experience. Immediately prior to joining ETF, he served 11 years as the Wisconsin director of state courts. During his 22 years with the court system, John also served as the assistant to the chief justice and as a senior policy analyst. A native of Menasha, Wis., he holds a bachelor’s degree from the University of Wisconsin-Oshkosh.

John Voelker

Non-educator, WRS participant 1

Management Council

Edwin joined SWIB in 2018 as managing director, asset and risk allocation. He was appointed executive director/chief investment officer in April 2021. Before joining SWIB, Edwin was managing director, strategic tilting, at Canada Pension Plan Investment Board (CPPIB). Prior to joining CPPIB in 2013, Edwin spent 13 years in asset allocation, currency, and risk management as a portfolio manager at William Blair & Company, managing member at Singer Partners LLC, and managing director and head of asset allocation at UBS Global Asset Management. Earlier in his career, Edwin was an economist at Lehman Brothers, Primark Decision Economics, and Putnam Investments, and he also briefly managed a commodity trading adviser and a quantitative equity strategy. Edwin holds a bachelor’s degree in economics from Cornell University and a PhD in economics from Northwestern University.

Edwin Denson

Executive Director/Chief Investment Officer

Rochelle joined SWIB in 2015 as its chief legal counsel before becoming deputy executive director/chief operating officer.  Throughout her more than 20-year career, she has led and advised organizations on board governance and legal matters, daily operations, and strategic transitions and planning.  Prior to joining SWIB, she was a shareholder in the corporate practice group at the law firm Godfrey & Kahn, S.C., and she served as the managing partner of the firm’s Madison office. She earned her law degree from Chicago-Kent College of Law and a bachelor’s degree in journalism and mass communication from the University of North Carolina-Chapel Hill.

Rochelle Klaskin

Deputy Executive Director/Chief Operating Officer

Eric is SWIB’s Chief Legal Counsel, leading the Legal and Compliance teams at SWIB. Eric joined SWIB in 2019 as Senior Legal Counsel before his promotion in 2024. He has spent his entire career helping guide companies and their executives—including numerous financial services firms—through high-stakes and sensitive matters. Immediately prior to joining SWIB, Eric was an attorney and led the privacy function at a leading global EdTech software firm. Before that, he was a partner at Perkins Coie LLP, an AmLaw 50 firm, and Michael Best LLP. After graduating law school from the University of Wisconsin, Eric clerked first for Chief Justice Shirley Abrahamson of the Wisconsin Supreme Court and then for Judge Richard Wesley of the U.S. Court of Appeals for the Second Circuit. Eric earned a Master of Arts from California State University-Los Angeles and a Bachelor of Arts from the University of Denver.

Eric Barber

Chief Legal Counsel

Sara is SWIB’s Chief of Staff & Strategy, supporting the Executive Director/Chief Investment Officer in the efficient and effective management of the organization and the development and execution of its overall strategy. Sara is also the Interim Head of Private Markets & Funds Alpha, where she is responsible for oversight of investment teams and portfolios across private equity, private credit, venture capital, real estate, hedge funds and other externally managed accounts.

Sara joined SWIB in 2017 and served as Chief Legal Counsel from 2018 to 2023. She has spent her entire career in the investment management industry, advising asset managers on a wide variety of legal and investment matters. Prior to joining SWIB, Sara served as an associate general counsel at King Street Capital Management, a New York-based hedge fund, and as an associate at Sidley Austin LLP in its investment funds group. She earned her law degree with high honors from the University of Chicago Law School, and a bachelor’s degree with honors in political science and government from the University of Wisconsin-Madison.

Sara Chandler

Chief of Staff & Strategy, Interim Head of Private Markets & Funds Alpha

Jameson joined SWIB in 2020 as chief financial officer, bringing with him extensive investment industry and business experience. Throughout his career, he has focused on leading teams and processes critical to the support of businesses and products across all asset classes. Prior to his role at SWIB, he served as chief financial officer and head of operations for Smead Capital Management in Seattle, Washington. He also spent over 10 years at BlackRock, most notably serving as the head of BlackRock Alternative Advisors’ global fund and accounting services team. He also previously served as an audit associate for KPMG. Jameson holds a Bachelor of Business Administration in accounting from the University of Washington.

Jameson Greenfield

Chief Financial Officer

Todd Mattina, PhD is SWIB’s head economist, asset and risk allocation chief investment officer. Before joining SWIB, Todd was the senior vice president, chief economist, and co-lead of the multi-asset strategies team at Mackenzie Investments, located in Toronto. Prior to this role, Todd was vice president of portfolio construction, chief strategist and chief economist at Investment Management Corporation of Ontario (IMCO). He also served as the chief strategist and economist of asset allocation and alternatives at Mackenzie Investments. Earlier in his career, Todd worked as the deputy division chief at the International Monetary Fund (IMF) in Washington, D.C., where he focused on macro-fiscal policy. He has also worked as a portfolio manager of emerging market currencies at Canada Pension Plan Investment Board (CPPIB). Todd holds a PhD in Economics from Queen’s University in Ontario, a Master of Arts in Economics from the University of British Colombia in Vancouver, and a bachelor’s degree from Queen’s University. Todd currently serves as a board trustee of Queen’s University and chair of its investment committee.

Todd Mattina

Head Economist, Asset & Risk Allocation Chief Investment Officer

Cefe joined SWIB in 2024 as chief technology officer. He came to SWIB from Parametric, now a part of Morgan Stanley Investment Management, where he was a managing director, core platform technology. Reporting to Parametric’s co-president, he was responsible for the design, build, and management of Radius, Parametric’s next generation cloud native asset management technology platform. In addition, he ran the enterprise data, middle office, and back-office platforms teams. Prior to his move to Parametric, he was a technology leader at State Street Bank, with responsibility over global software engineering and cloud-based development. He spent 15 years with Russell Investments in varied IT roles that culminated in serving as Russell’s global head of technology. Cefe earned a bachelor’s degree from Pacific Lutheran University and a M.S., Applied Information Management degree from the University of Oregon.

Cefe Quesada

Chief Technology Officer

Mike, who joined SWIB in 2015, is the Head of Fixed Income Strategies, with overall responsibility for all internally managed fixed income portfolios. Over the past 20-plus years, Mike has worked and held leadership positions in fixed income asset management in portfolio management and quantitative research and analytics and has led efforts to develop and enhance investment processes. Prior to joining SWIB, Mike was a managing director at a boutique asset manager in Stamford, Connecticut, a principal and lead portfolio manager for multi-sector fixed income and currency at Barclay’s Global Investors (now BlackRock), senior portfolio manager and head of taxable bond funds at Charles Schwab Investment Management, and portfolio manager and head of fixed income quantitative strategies at American Century Investments. Mike started his career in the aerospace industry working as a research scientist. Mike has doctorate and bachelor’s degrees in applied mathematics, both from UCLA.

Mike Shearer

Head of Fixed Income Strategies

Nick, who joined SWIB in 2001, is the Head of Liquidity Management and Beta Implementation at SWIB, overseeing its passive public markets and short-term cash strategies as well as its trading, securities lending, financing, and collateral and liquidity management activities. Prior to his current duties, he managed SWIB’s multi-strategy, consumer staples, and international equities portfolios, and oversaw SWIB’s trading and public markets operations teams. He has a bachelor’s degree in economics with an emphasis in math from the University of Wisconsin-Madison, and he is a Chartered Financial Analyst (CFA) charterholder.

Nick Stanton

Head of Liquidity Management and Beta Implementation

Brandon Brickner, Head of Internal Audit