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 and the director of internal audit. Trustee responsibilities include establishing asset allocation, investment guidelines, and performance benchmarks. Members of the Board of Trustees are:
Chair, public member
David Stein is executive vice president and head of consumer and business banking for Green Bay-based Associated Banc-Corp, the largest bank holding company headquartered in Wisconsin. He earned his bachelor’s degree in finance and economics from St. Cloud State University and a Masters of Management degree from the J.L. Kellogg Graduate School of Business at Northwestern University with concentrations in finance and marketing.
Secretary, non-educator - WRS participant1
Bob Conlin was appointed to secretary of the Department of Employee Trust Funds (ETF) in 2012 after serving as the agency’s deputy secretary for four years. Prior to his appointment as deputy secretary he was the agency’s director of legislation, communications and planning. Before joining ETF, he served as a senior staff attorney at the non-partisan Wisconsin Legislative Council. He holds a law degree from the University of Wisconsin-Madison and a bachelor’s degree from St. John’s University.
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.
secretary of the Department of Administration
Joel Brennan was selected as the Secretary of the Department of Administration by Gov. Tony Evers and began his role on January 2019. Before his appointment, Joel served as president and chief executive officer of Discovery World in Milwaukee for 2007-2019. Prior to that, he served as the head of Milwaukee’s Redevelopment Authority. Joel also served as vice president of development and government affairs for the Greater Milwaukee Convention & Visitors Bureau (now Visit Milwaukee). Early in his career, he also worked in government relations at Miller Brewing Company. Joel has a bachelor’s degree in English from Marquette University. He was selected as a Harris Fellow at the University of Chicago and earned a master’s degree in public policy from the University of Chicago’s Harris School of Public Policy.
Mark Doll retired from a 40-year career with The Northwestern Mutual Life Insurance Company. In his recent role, he served as executive vice president and chief investment officer where he was responsible for $164 billion in general account assets and $19 billion in separate account assets. Prior to this role, he was the senior vice president-public markets. He is a University of Wisconsin-Milwaukee graduate with a finance major. He also holds a MBA from the University of Wisconsin-Milwaukee.
Barbara Nick is the president and CEO of Dairyland Power Cooperative, a utility company based in La Crosse, Wis. She has over 30 years-experience in the electric and gas industry. Additionally, she has over 25 years of board service in energy, health care and community. Barbara is also the founder and CEO of Catto Enterprises, LLC, where she provides business and executive development services in the energy and manufacturing industries. She is a communications and business graduate from the University of Wisconsin-Green Bay. She also completed Harvard Business School’s Advanced Management Program.
educator - WRS participant 2
Dave Schalow is a professor of finance at the University of Wisconsin-Stevens Point. He has taught investments and financial planning related courses for 30+ years. In addition, he is a Chartered Financial Analyst (CFA) and Certified Financial Planner (CFP). He also owned a real estate/mortgage brokerage firm for many years. Dave has had works published in many professional journals and is the author of a real estate text book. He earned his bachelor’s degree in marketing and finance, and his MBA in risk management and insurance from the University of Wisconsin-Madison. He earned his PhD in finance with minors in economics and management from the University of Arkansas.
Tim Sheehy is president of the Metropolitan Milwaukee Association of Commerce (MMAC). Prior to being named president in 1993, Tim served in various capacities with the MMAC in governmental affairs and economic development. Tim is a Ford Foundation Fellow on Regional Sustainable Development, a graduate of the Institute for Organizational Management and a certified chamber of commerce executive. He is a graduate of the University of Wisconsin-Madison with a bachelor’s degree in political science.