Board of Directors: Biographies

Paul Cavazos, American Beacon Advisors

Chair: Mr. Paul Cavazos

Senior Vice President and Chief Investment Officer, American Beacon Advisors

Paul Cavazos joined America Beacon Advisors as chief investment officer and senior vice president in June 2016. Mr. Cavazos is responsible for overseeing corporate pension plan investments and the investment sub-advisors to the American Beacon Funds. His comprehensive background includes leading defined benefit and defined contribution plans, conducting investment manager searches, due diligence and risk-control oversight.

Before joining American Beacon, Mr. Cavazos served as chief investment officer and assistant treasurer at DTE Energy Company in Detroit. He was responsible for the development of asset allocation strategies, as well as fiduciary oversight for DTE’s $10 billion in retirement trust assets. In 2014, Mr. Cavazos received the prestigious CIO Industry Innovation Award of the Year from Chief Investment Officer magazine. Previously, Mr. Cavazos served as chief investment officer at Navistar, where he was responsible for all investment aspects of the company’s $5 billion in retirement trust assets. His experience also includes investment and finance roles at The Boeing Company and Chrysler Corporation.

Mr. Cavazos earned a B.S. in Finance from Oakland University in Rochester, Michigan. He also holds an MBA in Finance from The University of Texas at Austin.

Rob Sparling, Dow Inc. 

Vice Chair: Mr. Rob Sparling

Chief Investment Officer, Dow Inc.

In his role as Chief Investment Officer since late 2015, Rob Sparling and his team are responsible for assets of approximately $40B, which includes assets for defined benefit plans, defined contribution plans, other employee benefit plans, and captive insurance companies. 

The Dow Portfolio Investments Team manages pension assets in several countries, including the US, Canada, the Netherlands, the United Kingdom, Germany, Switzerland, and Belgium, and works collaboratively by sharing best practices and strategies to source top quartile performance.  The Dow Team employs active and passive strategies, including in-house asset management and derivative overlays for tactical asset allocation, and various strategies to manage to duration targets

Mr. Sparling serves on several Dow committees including the Investment Committee for the DB plans in the US, the Canadian Finance Committee, the UK Trustee Board, the 401(k) Savings Plan Committee. As a director of Liana, Dow’s captive insurance subsidiary, Mr. Sparling chairs the Liana Finance Committee.

Mr. Sparling joined Dow Inc. in 1995 after earning his MBA degree in Finance at Carnegie Mellon University’s Tepper School of Business, and a BSE in Naval Architecture and Marine Engineering from The University of Michigan in 1989.  He earned the Chartered Financial Analyst designation in 2000.

Mr. Sparling stays active in his community and serves as an adjunct professor and has taught various finance classes to graduate and undergraduate students at local state and private universities.  Mr. Sparling also serves on the Board of the Midland Center for the Arts and has been a member of the investment committee for the MidMichigan Health System since 2017.

Angela Buk, DTE Energy 

Treasurer: Ms. Angela Buk

Chief Investment Officer & Assistant Treasurer, DTE Energy

Angela Buk joined DTE Energy as Chief Investment Officer and Assistant Treasurer in 2016. Ms. Buk works with DTE leadership in the fiduciary oversight of $12 billion in benefit plan, nuclear decommissioning, and foundation assets. Prior to joining DTE, Ms. Buk led the Alternative Investments team in the Treasury Asset Management Group at Fiat Chrysler Automobiles (FCA). She also served as a senior auditor with Deloitte LLP, performing audits of pension plans, financial institutions and real estate firms, servicing Fortune 500 clients. She has a comprehensive background in alternative investments, defined contribution plan design, investment operations, compliance, and risk management.

Ms. Buk received her bachelor's and master's degrees from the University of Michigan, Ross School of Business. She holds a CPA and is a Level II candidate in the Chartered Alternative Investment Analyst program. In addition to her role as Treasurer on the CIEBA Board of Directors, she currently serves as a board member in a charitable capacity for both the Hudson Webber Foundation Finance Committee and the Community Foundation for Southeast Michigan Investment Committee.

Doug Brown, Exelon Corporation

Senior Vice President and Chief Investment Officer, Exelon

Douglas J. Brown joined Exelon Corporation as Senior Vice President and Chief Investment Officer in November 2009.  As Chief Investment Officer, Doug leads a team of professionals responsible for managing all investment activities including pension funds, nuclear decommissioning trusts, defined contribution plans and other employee benefit trusts totaling $45 billion.  He is a member of Exelon’s Corporate Investment Committee and the Exelon Foundation Board of Directors.

In 2012, Doug was named Large Corporate Pension Manager of the Year by Institutional Investor.  The award recognizes institutional investors whose innovative strategies and fiduciary savvy have resulted in impressive returns.  From 2013 through 2019, he was named to Chief Investment Officer Magazine’s Power 100 list of most influential asset owners.

Prior to joining Exelon, Doug was Chief Investment Officer at Chrysler LLC with responsibility for all asset management activities globally, including pension funds, defined contribution plans and other employee benefit trusts totaling $30 billion.  Chrysler’s $20 billion U.S. pension fund has been consistently among the top performing funds.

Doug’s career with Chrysler and its affiliates began in 1983.  He was advanced to positions of increasing responsibility, including Treasurer for DaimlerChrysler Canada and Director, Corporate Finance and Capital Markets for DaimlerChrysler Corporation.  He was a member of the Chrysler LLC Investment Committee and previously served on the DaimlerChrysler Investment Committees in the United States, Germany and Canada and on the Board of Directors and Investment Committee for the DaimlerChrysler Insurance Company. 

Doug is a member of the Economic Club of Chicago and is on the Board of the Committee on Investment of Employee Benefit Assets (CIEBA) in Washington, DC.  From 2018 to 2020, he served as Chairman of the CIEBA Board of Directors.  Doug also serves on the Board of Trustees of the Goodman Theatre in Chicago and on the Board of Directors of the William G. McGowan Charitable Fund.  From 2013 to 2015, Doug served on the Board of the CFA Society of Chicago.

Doug was born in Paterson, New Jersey and holds a B.A. in economics from Albion College and an MBA from the University of Detroit Mercy. 

Ernie Caballero, United Parcel Service

Ernie is the Chief Investment Officer for UPS.  Ernie has the fiduciary responsibility for all aspects of the investment portfolios for UPS’ Single Employer Defined Benefit Plans.  Assets under management are in excess of $50 billion.  Prior to this he was domiciled in Europe, between Brussels & London, overseeing various aspects of the UPS businesses.  While in Belgium, he held the roles of CFO for UPS Europe & Emerging Markets Strategy Coordinator for Europe, the Middle East, India and Africa.  While living in London, he was responsible for Treasury Operations, Risk Management, and Mergers Acquisitions within the Europe, Middle East and Africa Asia Pacific Regions.  He has held many other Audit, Finance, & Treasury leadership positions throughout his career.

Caballero is a current board member of CIEBA and Chair of the CIEBA Defined Benefit Committee.  He is a Certified Internal Auditor and a Certified Investments and Derivatives Auditor.  He also holds an MBA in Finance from Kennesaw State University, GA, an MBA in Total Quality Management from Dowling College, NY, and a BS in Electrical Engineering/Industrial Technology from SUNY Farmingdale.

Robin Diamonte, United Technologies Corporation

Diamonte joined United Technologies Corp. as Chief Investment Officer in December 2004. She is responsible for overseeing UTC’s $69B in global retirement assets. This includes $31B in domestic pension plans, $9B in foreign pension plans and $29B in the defined contribution plan. Diamonte serves on UTC’s Finance Council and is an executive sponsor for UTC’s Finance Inclusion Forum. Robin will be the CIO for Raytheon Technologies after the merger in 2Q 2020 responsible for over $100B in global assets.

Prior to joining UTC, she spent thirteen years with Verizon Investment Management. She served as Managing Director of Global Investments, responsible for asset allocation and management for their $40B pension plan.

In 2013, Robin was appointed by President Obama and served as a member and chair of the Advisory Committee for the Pension Benefit Guaranty Corporation for six years. Ms. Diamonte has been an Independent Director of Morningstar, Inc. since December 2015. She also serves on the board for the Committee on Investment of Employee Benefit Assets (CIEBA), representing more than 100 of the country’s largest private sector retirement funds on fiduciary and investment issues in Washington. Robin is also a current member of the investment committee for Miss Porters School. Diamonte earned a Bachelor of Science degree in electrical engineering and her MBA in finance from the University of New Haven.

Alayne Gatti, Comcast NBCUniversal Spectacor

Alayne Gatti is the Senior Director, Global Risk and Investments at Comcast NBCUniversal.

Alayne joined Comcast NBCUniversal in 2015. Alayne works with Comcast and NBCUniversal leadership on the fiduciary oversight of all global benefit plans ($13B in assets), Corporate Owned Life Insurance (COLI) and financing of benefits (self-insuring, captive). Prior to joining Comcast NBCUniversal, Alayne worked with Avaya Inc. and Telcordia Technologies (now Ericcson). In these roles, Alayne worked with senior management in managing the company’s global Pension, Savings, Voluntary Employee Benefit Association (“VEBA”), and Rabbi (executive) Trusts and associated Plans.

Alayne attended Lehigh University for undergraduate, and received a B.S. in Business Administration and Economics. She subsequently attended St. John’s University for an M.B.A in Accounting. Alayne is a Certified Public Accountant (New Jersey). Alayne is a member of the American Benefits Council and the Committee on the Investment of Employee Benefit Plan Assets where she also serves on their board and leadership. Alayne resides in New Jersey with her husband, son and two dogs.

Robert Hunkeler, International Paper Company

Bob joined International Paper in 1997 as Vice President – Investments. In this position, he is responsible for the investment direction of IP’s $16 billion in pension, savings and other plan assets.

Prior to joining International Paper, he was Associate Director – Funds Management and Financing at Sandoz Corporation where he was responsible for pensions, cash management and other finance activities. Before that he held numerous finance positions at Ciba-Geigy Corporation. He began his career as a chemical lab technician at Ciba-Geigy’s central research facility in Basel, Switzerland.

Bob holds a bachelor’s degree in chemistry and an MBA from the University of Maryland. He is a past Chairman, and current board member, of the Committee on Investment of Employee Benefit Assets (CIEBA), a former trustee of the Greenwich Roundtable and former member of the NYSE Pension Managers Advisory Committee. He also is a past recipient of Institutional Investor’s Corporate Plan Sponsor of the Year and Small Corporate Plan Hedge Fund Investor of the Year awards.

Susan Ridlen, Eli Lilly & Company

Susan Ridlen is an Assistant Treasurer at Eli Lilly and Company, and since 2005 has operated as the Chief Investment Officer for Lilly’s $20+ billion U.S. retirement plan portfolios. Prior to this role, Susan held various financial leadership positions in Lilly Treasury, Manufacturing and the Endocrine Business Unit from 1991-2005. Ms. Ridlen received an MBA in Corporate Finance and a B.S. in Accountancy from the University of Illinois and she holds a CPA. Susan is a current board member of CIEBA and Chair of the CIEBA Investment Committee; she is also a board member and the Chair of the Investment Committee of the Indianapolis Symphony Orchestra Foundation; she is the Chair of an Indianapolis real estate partnership; and a member of the MFA IIAC.

*MFA IIAC: Managed Futures Association, Institutional Investor Advisory Council

Carol Tusch, International Paper Company

Carol Tusch is the Director of Trust Investments for International Paper’s pension and savings plans valued at over $16 billion. She is responsible for the investment oversight of all asset classes as well as asset allocation. She also serves as the Treasurer for IP’s Foundation, Employee Relief Fund and Quarter Century Society.

Prior to joining International Paper in 1999, Ms. Tusch spent 16 years at Verizon were she worked in the pension area and was responsible for investments in various asset classes including stocks, bonds, private equity, real estate and timber. She was also responsible for the oversight of the savings plan investment options as well as management of the Canadian pension plan.

Carol received her MBA from University of Connecticut and has a BS in finance from Fairfield University.

Carol lives in Stamford, CT with her husband, Paul and has three children. She is currently a member of the Parish Financial Accountability Committee for the Diocese of Bridgeport and sings in the church choir at St Leo Parish in Stamford.

Jay Vivian

Jay Vivian is Secretary of CIEBA, a member of the Board of Directors, and does on-site 'real-time' surveys at CIEBA meetings. He has been a member of CIEBA since 1995, joined the Executive Committee in 2000, founded and chaired the Investment Committee in 2002, and became Vice Chair of CIEBA in 2006.  He is the retired CIO and Managing Director of the IBM Retirement Funds, and serves on advisory boards for Rebalance360 and Club Vita.  He recently stepped down from the boards of Alberta Investment Management Company, the ICMA Retirement Corporation, and United Way Worldwide.  He holds an AB in mathematics from Bowdoin College, an MBA from Harvard Business School, and a CFA® charter.


Andrew Ward, The Boeing Company

Andrew Ward is the Chief Investment Officer of the Boeing Company. He is responsible for investing and managing all of the $100+ billion in assets of the company’s employee benefit plans. Prior to this position, Mr. Ward was the Managing Director of Investment Strategy and Asset Allocation for the company’s retirement plans. In that role, he had responsibility and oversight for allocating capital to investments and developing the corresponding investment strategies. When Mr. Ward joined Boeing in 2002, he served as Director of Alternative Investments. In this role, Mr. Ward was responsible for $6.0 billion of investments in private equity, real estate, and hedge funds.

Prior to Boeing, Mr. Ward worked at Aon Corporation from 1998-2002. Mr. Ward worked in the investment arm of Aon Corporation, Aon Advisors, managing the underwriting assets of Aon’s insurance subsidiaries. Mr. Ward had a particular emphasis on alternative investment assets (private equity, real estate, and hedge funds).

Mr. Ward was a management consultant with A.T. Kearney practicing strategy and operational consulting from 1997-1998.

Mr. Ward graduated with a B.S. in Marketing from Indiana University in 1992 and graduated with honors from the University of Chicago, Graduate School of Business with concentrations in Finance and Economics in 1997. Mr. Ward also is a CFA Charterholder.

Mr. Ward resides in Western Springs, Illinois with his wife, Kerry, and three children.

Elaine Washington, Eastman Chemical Company

Elaine Washington is Director, Benefits Finance and Investments and has been in her current position since joining Eastman in 2013. Elaine’s primary responsibility is the investment management of the U.S. pension and 401(k) plans covering assets of $5.0 billion. She also provides guidance and oversight for the non-U.S. pension plans with assets of $700 million.

Over her career, she has held various treasury positions at Resolute Forest Products in South Carolina. Originally from Chicago, she has also held treasury positions at Sara Lee Corporation and FMC Corporation and various accounting positions for the International College of Surgeons.

Elaine obtained her B.A. with a major in Business Administration and concentrations in Finance and Accounting from Loyola University, and her M.B.A. with a major in Finance and concentration in International Business from Loyola’s Quinlan School of Business. She has a Certified Treasury Professional designation and is a Beta Gamma Sigma, Business Honors Society member.

Elaine is a member of Eastman’s Connect Employee Resource Group supporting the core value of inclusion and diversity and is a member of Eastman’s Black History Planning Committee. She is actively involved in the community where she is a member of the First Tennessee Bank Advisory Board, Northeast State Foundation Board, Symphony of the Mountains Board, Girl Scouts of the Southern Appalachian Board, South Central Kingsport Community Development Board and a past member of the Kingsport Chamber of Commerce. Elaine is also a member of Alpha Kappa Alpha Sorority Inc. and is active in various church-related community and ministry initiatives.

Elaine is also a graduate of the 2017 Leadership Kingsport class.