Board of Directors

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.

Vice Chair: Mr. Rob Sparling

Global Director for Portfolio Investments, Dow Inc.

Rob Sparling is the Global Director for Portfolio Investments and is based in Midland, Michigan, at the company global headquarters.  As Global Director for Portfolio Investments, Rob is the Chief Investment Officer (‘CIO’) for the company’s pension plans and acts as a named fiduciary for those plans.

Rob and his team are responsible for assets of approximately $40 B when including defined benefit, defined contribution, other benefit plan assets and captive insurance company assets.  The Portfolio Investments team consists of 20 individuals responsible for managing pension assets in several countries, the largest of which include the US, Canada, the Netherlands, the United Kingdom, Germany, Switzerland and Belgium.  The team members are located in both Midland, MI and Horgen Switzerland.

Rob is a member of the Investment Policy Committee (the fiduciary body managing pension and post-retirement benefits for the company), the 401(k) Savings Plan Committee (the fiduciary body managing the defined contribution plan) is a director of Liana, the company’s captive insurance subsidiary and chairs the Liana Finance Committee.

Prior to his role as CIO, Rob was Global Director of Financial Risk Management, the team responsible for managing risks brought about by changes in currency exchange rates, interest rates and certain key commodity prices.  In addition, investment activities are managed within the unit including short-term liquidity management and publicly traded equities.  The FRM team is a diverse team of 12 finance professionals representing several different nationalities located in four centers: Midland, Horgen, Singapore, and Sao Paulo.

In addition to his role leading the FRMU, Rob led a team responsible for closing capital markets transactions necessary to consummate the merger of Blue Cube Spinco and Olin Corporation in a Reverse Morris Trust.  On an ongoing basis, Rob offers analysis and decision support for capital structuring decisions related to potential M&A transactions and has worked on pivotal capital markets projects for Dow including common equity issuance, public debt issuance, convertible preferred equity issuance to Berkshire Hathaway, Kuwait Investment Authority, Paulson & Co and Haas Family Trusts.

Prior to his position as Global Director of FRM, Rob was the Director of North American Risk Management and has held several different positions within Treasury and Portfolio investments including Global Investment Manager, Interest Rate Risk Manager, FX Risk Manager, Fixed Income Portfolio Manager, and Financial Planning Manager.

Rob joined the company in 1995 in the Treasury Department after completing his MBA degree at Carnegie Mellon University’s Tepper School of Business with concentrations in Finance, Strategy and Marketing.

Prior to pursuing his graduate degree, Rob worked as a Naval Architect in Washington, D.C. where he was part of a team specializing in feasibility studies and preliminary design for a variety of commercial and military ships.

Rob received his BSE in Naval Architecture and Marine Engineering from The University of Michigan in 1989 and the Chartered Financial Analyst designation in 2000.

Rob gives back to the community in a variety of ways.  In recent years, Rob has taught various finance classes to graduate and undergraduate students at Saginaw Valley State University and Northwood University.  He also serves on the Board of the Midland Center for the Arts, was appointed Treasurer in 2017, previously chaired their Finance Committee and chaired the Investment Committee between 2012 and 2017.  Additionally, Rob joined the investment committee for the MidMichigan Health System in 2017.

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.  

JaySecretary: 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.



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Robin Diamonte Raytheon Technologies Corporation
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Robert Hunkeler International Paper Company
Susan Ridlen Eli Lilly & Company
Carol Tusch International Paper Company
Andrew Ward The Boeing Company
Elaine Washington Eastman Chemical Company