Michael G. Trotsky, CFA, is the Executive Director and Chief Investment Officer of the Massachusetts Pension Reserves Investment Management (“PRIM”) Board, the entity responsible for investing the $62 billion Massachusetts pension fund, which contains the assets of the Massachusetts Teachers’ and State Employees’ Retirement Systems as well as the assets of approximately one hundred participating municipal and county retirement systems.
Mr. Trotsky’s work at PRIM was preceded by a 25-year career in the private sector, most recently as senior vice president and portfolio manager at PAR Capital Management, a Boston-based absolute return strategy fund. Previously, he was a senior analyst at Greenberg-Summit Partners in Boston and also served as a principal and senior vice president at Independence Investment Associates (a John Hancock subsidiary), also in Boston. Mr. Trotsky began his professional career in 1985 as an engineer at Intel Corporation in California.
Mr. Trotsky currently serves as a member of the CFA Institute Board of Governors and previously served as Chairman of the CFA Institute’s Asset Manager Code of Professional Conduct Advisory Committee. Mr. Trotsky is a member of the Boston Security Analyst Society’s Board of Directors and is a member of the Boston Economics Club. Mr. Trotsky serves on the Finance Committee at the Shady Hill School in Cambridge and is a Trustee of the Woodstock (Vermont) Ski Runners Association, one of the oldest ski racing clubs in the country.
Mr. Trotsky received a BS in electrical engineering from the University of Pennsylvania and an MBA from the Wharton School of the University of Pennsylvania.
Chris Supple’s 25-plus years of practicing law have been divided nearly equally between the public and private sectors. Chris’ government experience includes over 5 years as a federal prosecutor and 6 years in senior leadership positions with Massachusetts Governors Bill Weld and Paul Cellucci, where he also served as General Counsel to their Secretary of Administration and Finance Charlie Baker. Following that, Chris spent over 10 years in a private law practice focused on government and litigation, where his clients included businesses, nonprofits, individuals, and government agencies (including both MA PRIM and the MA Health Care Security Trust/State Retiree Benefits Trust Fund, where Chris served as outside legal counsel for 10 years). Chris began his law career at the Boston law firm of Hale and Dorr (now WilmerHale) after serving as a law clerk to a federal district court judge in Boston. Chris has litigated in state and federal courts throughout the nation, and has successfully tried over 25 cases to jury verdict, tried dozens of cases to judges sitting without juries, argued hundreds of evidentiary and non-evidentiary motions, and settled hundreds of cases by negotiated agreement. Chris is Co-Chair of the Securities Litigation Committee of the National Association of Public Pension Attorneys, and holds The Claritas® Investment Certificate awarded by the CFA (Chartered Financial Analyst) Institute. Chris served two 5-year terms on the Board of the Boston Redevelopment Authority, and for nearly a decade taught a course in Federal Criminal Prosecution at Suffolk University Law School. Chris is active in autism advocacy, and serves as a Member of the Board of Directors of the New England Chapter of Autism Speaks and Chair of its Advocacy Committee; Chris also serves as a Governor's appointment to the Massachusetts Autism Commission. Chris earned his law degree with honors from Duke University where he was a law review editor, and his BA from the College of the Holy Cross.
David Gurtz is responsible for the risk monitoring of PRIM, which includes monitoring and due diligence of investment managers as well as monitoring of internal processes. David is also responsible for the implementation of the risk measurement system. Prior to joining the PRIM Board in 2008, David was a Senior Manager at KPMG auditing clients such as hedge funds, private equity and venture capital funds. Prior to KPMG, David was a Controller for 2 years at Capstone Investments, a NASD broker/dealer that specializes in servicing hedge funds. David earned a Bachelor of Science in Accounting from Bucknell University and is a Certified Public Accountant and a Chartered Financial Analyst.
As Deputy Chief Investment Officer, Sarah leads the PRIM Board’s asset allocation and investment research initiatives across all asset classes, and oversees PRIM’s Public Markets investment programs, which include construction of the plan’s portfolio allocations, and oversight of the Domestic Equity, International Equity, Emerging Markets Equity, Core Fixed Income, and Value-Added Fixed Income asset classes. Prior to joining the PRIM Board in 2011, Sarah was an Associate Portfolio Manager with Boston Advisors and an Assistant Vice President/Analyst with Wellington Management Company. Sarah holds a Master of Business Administration from Boston University’s Graduate School of Management, and a BA in German and Business from the University of New Hampshire. She holds the Chartered Financial Analyst and Chartered Alternative Investment Analyst designations, is a member of the CFA Institute, the CAIA Association, the Boston Security Analysts Society, and the Boston Economic Club. Sarah also serves on the Advisory Board for Girls Who Invest and the Board of Directors for the University of New Hampshire.
Mr. Bailey brings a quarter century of experience in private equity, including time at High Vista Strategies, an endowment investment fund, and Lucent Asset Management, where he headed the private equity group. Both are in Boston. Mr. Bailey also worked at Deutsche Bank and J.P. Morgan in New York.
Mr. Bailey was graduated from Northwestern University in Evanston, Ill.
He is a resident of Winchester.
Anthony joined PRIM in January of 2006. As Chief Technology Officer, Anthony’s responsibilities include managing and maintaining PRIM’s information technology infrastructure and providing information technology strategy, oversight and planning. Prior to joining PRIM Anthony spent over 20 years working in the financial services industry in a variety of capacities including project management, investment operations, operational accounting, systems integration and information delivery. Anthony represents PRIM on the Institutional Investors, Financial Technology Forum.
Anthony holds The Claritas® Investment Certificate awarded by the CFA (Chartered Financial Analyst) Institute, and is a Microsoft SharePoint 2010 Administration Certified Professional. He earned his Bachelor of Science in Computer Information Systems from Bentley University in Waltham, Massachusetts.
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Eric holds a Ph.D. in Business Economics from Harvard University with a concentration in Behavioral Finance and spent seven years as a portfolio co-manager at Lee Munder Capital Group. He also worked at Independence Investments and Charles River Associates. Eric currently teaches a pair of graduate finance courses at Brandeis University.
Tim Schlitzer directs the investment activities for PRIM’s allocation to real estate and timberland. Tim’s responsibilities include portfolio oversight and manager selection for PRIM’s direct real estate, REIT and timberland investments. He also oversees 13 current manager relationships in both the private and public real estate and timber markets. Tim joined PRIM in 2005 and was previously employed by Grubb & Ellis, a publicly traded commercial real estate services company. He has received an MBA from Northeastern University in Boston, MA and holds a Bachelor of Arts Degree from the University of Massachusetts in Amherst, MA. He is a Counselor of Real Estate, holds the Chartered Financial Analyst designation, is a member of the CFA Institute, and the Boston Security Analysts Society.
Paul Todisco returned to the PRIM staff on September 15, 2008 after a six-year hiatus. During that time, Paul served as the Executive Director of Health Care Security Trust (“HCST”), the endowment created by the Commonwealth to invest a portion of the annual payments Massachusetts receives from the landmark 1998 tobacco settlement that arose from a class action suit between 46 states and the big tobacco manufacturers. Between his service at HCST and PRIM, Paul has four decades of experience in the public investment fund arena. Having originally joined PRIM in 1984 as a seminal member of the staff, Paul played an integral role in developing PRIM’s modern client service program, in particular, working on legislative strategy that led to the passage of a bill that created the highly successful “Segmentation” program. Prior to joining PRIM, Paul served as Staff and Research Director for the Joint Committee on Public Service in the Massachusetts Legislature from 1982-1984, where he advised the Committee members on legislation concerning public pensions, collective bargaining, civil service, and state and municipal administrative matters. He is a graduate of Suffolk University (B.S. cum laude 1976).