Advisory Board & Management

Advisory Board & Management

Since its inception in 2002, the Brandes Institute has benefited from the guidance and insights provided by our Advisory Board members. Reflecting a mix of Brandes colleagues and investment industry leaders, the Board currently consists of 25 members worldwide who are responsible for:

  • Developing research hypotheses and methodologies and helping to prioritize projects
  • Assisting in the analysis of findings
  • Writing and editing research reports that communicate results
  • Identifying other progressive thinkers for collaboration opportunities

In addition, Advisory Board members may serve as mentors on specific projects or work closely with Brandes colleagues, consultants and academics on projects in which they have strong interest. They also may be invited to present Institute findings at seminars or conferences.

External Board members are considered permanent members of the Board, while internal Board positions are designed as 2-year terms.  The goal of having both permanent and “rolling” Board members is to provide continuity, depth and breadth of experience, and fresh insights and perspectives.

We believe we have created a dynamic group of inquisitive thinkers who, through regular meetings, an ongoing exchange of ideas and the periodic publication of findings, contribute to meaningful work that benefits our industry.


Our Mission

Investigate potential opportunities arising from structural and behavioral factors in global markets.

We strive to further establish the Brandes Institute as a leading, trusted source of useful information and practical guidance within the investment industry.


Management


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Bob Schmidt
Manager, Brandes Institute

Bob Schmidt oversees project research and analysis, development of publications and presentations, and special events for the Brandes Institute, a division of the firm that seeks to develop ideas and research to expand the investment community’s understanding of market behavior and portfolio management.

Mr. Schmidt’s roles prior to joining Brandes include Head Writer with Nicholas-Applegate Capital Management, Associate Vice President with Western Financial Corp., and Editor for PRNewswire. Mr. Schmidt earned a BA (magna cum laude) from Duquesne University and an MA from California State University, San Marcos. His relevant experience began in 1990, and he joined Brandes Investment Partners in 2000.

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External Advisory Board Members - Asia-Pacific


David Iverson BI

David Iverson
Head of Asset Allocation, Guardians of New Zealand Superannuation

David Iverson is Head of Asset Allocation with the Guardians of New Zealand Superannuation Fund. In this role, he is in charge of the team that supports the Fund’s long-term benchmark (reference portfolio) and the strategic tilting programme. The team is also responsible for the risk-capital allocation (risk budgeting) across the Fund’s other value-add activities.

Prior to starting with the Fund, he was Director of Institutional Investment Services and Quantitative Research at Goldman Sachs JB where he was responsible for advising equity fund managers and for the sales of institutional pension products to New Zealand-based institutional funds.

His other previous positions were Head of Consulting with Russell Investment Group's Institutional Investment Services Division in New Zealand, Regional Risk Manager with ING Investment Management (Asia-Pacific), and Equity and Quantitative Strategist with ABN Amro New Zealand.

Mr. Iverson is a member of the CFA Society and EDHEC-Risk Institute International Advisory Board. He is also the author of Strategic Risk Management: A Practical Guide to Portfolio Risk Management (Wiley-Finance, 2014).

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Dr. Geoff Warren
Associate Professor at the Australian National University and Fund Convenor of the
Student Managed Fund 

Dr. Geoff Warren is Associate Professor for the College of Business and Economics at ANU. An active researcher, he previously was Research Director with the Centre for International Finance and Regulation (CIFR) where he was responsible for furthering CIFR’s internal program. His research is focused on investment-related areas, including superannuation, fund management, portfolio construction, asset pricing and valuation.

Prior to pursuing an academic career, he spent over 20 years in investment markets, including three years as the Director of Capital Markets Research at Russell Investments; as an analyst, Chief Strategist and Head of Research with investment bank Ord Minnett / JP Morgan Australia; and as an equity portfolio manager at AMP Capital. He also currently sits on the Salvation Army Investment Advisory Board and the Atlas Infrastructure Macro Advisory Board. Geoff earned a doctorate in Finance from the Australian Graduate School of Management and a Bachelor of Commerce (Honours) with the University Medal from the University of New South Wales.

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External Advisory Board Members - Europe


Wim Antoons

Wim Antoons
Head of Asset Management at Bank Nagelmackers

Wim Antoons is Head of Asset Management at Bank Nagelmackers. In this role, he oversees the investment process for the private banking and fund of funds businesses. He established the firm's value investment philosophy and its open architecture fund platform. He is also co-manager of the Nagelmackers Funds and manager of the Nagelmackers Privilege Fund. Before joining Nagelmackers, he worked for 6 years in the unit-linked business at BNP Paribas Bank, responsible for the selection of value equity funds. He earned a Master of Commercial and Financial Sciences at the Hogeschool-Universiteit Brussel (EHSAL) and has 22 years of investment experience.

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Peter Branner 
CEO of SEB Investment Management

Peter Branner has more than 20 years of investment experience and currently serves as CEO of SEB Investment Management. He is responsible for the overall investment process at the firm and its broad range of mutual funds covering all major asset classes.

Previously, Mr. Branner was Chief Investment Officer of Fortis Investments’ Multi Management Division based in London. Before this he served as Managing Director of IKANO Fund Management in Luxembourg and held other investment positions within the IKANO Group. Mr. Branner was also the Investment Director at a major bank in Denmark, where he started his career in 1987.

Mr. Branner graduated from Copenhagen Business School with a BSc in economics, a MSc in economics and a graduate diploma in business administration. He is also a member of the Board at Key Asset Management in London and of SIFA, the Swedish Investment Funds Association.

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Philip E. Read 
Former Chairman of the British Coal Staff Superannuation Scheme Trustee Board

Having served 9 years as a Trustee, in September 2014, Philip Read stepped down as the non-executive Chairman of the Trustee Board, appointed by the U.K. Government, to the British Coal Staff Superannuation Scheme, with assets of £9 billion. He is currently a part-time Senior Adviser in the Investment Management Division of Goldman Sachs.

Mr. Read retired in February 2009 from Metal Box Pension Trustees Limited where, along with his fellow trustees, he was responsible for reviewing the investment management structure of the assets of the Metal Box Pension Scheme, which then amounted to some £1.5 billion. Mr. Read became U.K. Pensions Manager at CarnaudMetalbox Group U.K. Limited in 1999.

Previously, Mr. Read was Pensions Manager at the General Electric Company, plc. He also served as a Consulting Actuary in both the United Kingdom and South Africa. In the United Kingdom, Mr. Read was a partner with Towers Perrin; in South Africa, he was a partner in a leading firm of consulting actuaries in Johannesburg.

Mr. Read has a BSc (Hons) degree in Physics from Rhodes University in South Africa. He is a Fellow of the Institute and Faculty of Actuaries (FIA) and is a Fellow, and a past Vice President, of the Pensions Management Institute (FPMI) in the United Kingdom.

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External Advisory Board Members - North America


Machel Allen, CFA
President & Chief Investment Officer, Metis Global Partners

Machel Allen is the President and Chief Investment Officer at Metis Global Partners. She leads the firm’s business strategy efforts as well as the investment team responsible for researching and managing the firm’s portfolio strategies. Ms. Allen's investment career spans more than 20 years, including ten years with Brandes Investment Partners where she led the quantitative investment team that designed and implemented the investment process used by Metis today. Prior experience includes Lord Abbett, as an Equity Analyst to international and domestic portfolios, as well as institutional investment consulting roles at LCG Associates and Watson Wyatt. Ms. Allen earned an MBA in Investments from the Robinson Business School at Georgia State University (GSU) as well as a BBA in Finance from GSU. She is a Past President and Board Director of the CFA Society San Diego and is a member of the Chicago Quantitative Alliance (CQA).

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Gary Bader
Retired Chief Investment Officer, Alaska Department of Revenue

Gary Bader served as Chief Investment Officer (CIO) of the Alaska Department of Revenue which provides staff to the Alaska Retirement Management Board. Of the $45.5 billion managed by the Department of Revenue, the Alaska Retirement Management board has responsibility for $20.8 billion of defined benefit and defined contribution assets. Mr. Bader was CIO for over thirteen years. Prior to his appointment he served in numerous public office positions including Deputy Commissioner of the Alaska Department of Administration, Director of Alaska’s Division of Retirement and Benefits, Superintendent of Juneau Schools, and Chair of the Alaska State Pension Investment Board. Mr. Bader earned a Bachelor of Science in Finance from California State University and a Master’s degree from University of Alaska, Southeast.

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Edward Blodgett, CFA
Independent Investor

Before retiring in 2014, Ed Blodgett was a limited partner at Brandes Investment Partners, L.P. As a Director of Brandes’ Private Client Group, Mr. Blodgett managed the firm’s Private Client Services, Strategic Relationship Management and Private Client Portfolio Management departments. Prior to his 21 years at Brandes, Mr. Blodgett held management positions at Morgan Stanley Smith Barney and Dean Witter Reynolds. A graduate of Cornell University, Mr. Blodgett is a member of the CFA Society San Diego and has over 30 years of investment experience. Mr. Blodgett serves on the Boards of the Rancho Santa Fe Community Foundation and the Coastal Community Foundation.

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Jim Brown, CFA
Former Director, Brandes Investment Group

Jim Brown is a former member of the Brandes Global Large Cap Investment Committee, having retired from the firm in 2016. Previously, he was the leader of the firm’s Financial Institutions and Utilities Research Teams. Prior to joining Brandes, Mr. Brown was a Senior Vice President with First Interstate Bank of Texas (later acquired by Wells Fargo) where he served in various capacities, including Senior Portfolio Manager, Regional Director of investments and head of Texas private banking. His professional experience also includes 10 years as an Air Force pilot.

Mr. Brown earned his BS from the United States Air Force Academy and his MBA from Harvard Business School. His relevant experience began in 1984, and was with Brandes Investment Partners from 1996 until his retirement in 2016.

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Brian Bruce
CEO and Chief Investment Officer, Hillcrest Asset Management

Brian Bruce is CEO and Chief Investment Officer (CIO) at Hillcrest Asset Management, an investment management firm specializing in applying aspects of behavioral finance. Previously, he served as CIO for Putnam/PanAgora Asset Management and President/CIO for InterCoast Investment Group. Mr. Bruce also has served as Vice President for State Street Global Advisors. He is Editor-in-Chief at The Journal of Investing and Editor at The Journal of Behavioral Finance. He received his MBA from the University of Chicago and his MS in Computer Science from DePaul University.

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Barclay Douglas

Barclay Douglas
Founder, Criterium Advisors

Founded in late 2007, Criterium Advisors is a consulting firm providing investment and strategic counsel to both institutional fund sponsors and money managers. Douglas's prior industry experience separates into three, nearly equal, eight-year periods. Joining Kansas City based consultant DeMarche Associates in 1983, Barclay was the lead consultant on 19 institutional relationships. Moving to Philadelphia in 1991 to work for Delaware Investments, his role evolved by 1994 into EVP, responsible for the firm’s institutional business. In 1998 Barclay joined Baring Asset Management as President and CEO, heading their efforts in North America. His primary interests and activities over time have focused on understanding the variety of investment philosophies, approaches, and implementation strategies that correlate to superior performance in total fund portfolios, and the essential qualities within asset managers that drive their ability to generate excess returns. Barclay attended the Ohio State University, the University of Arizona, and graduated from the University of Iowa in Philosophy and Financial Economics.

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Zev Frishman
Chief Investment Officer at Morneau Shepell Asset & Risk Management Ltd.

Previously, Mr. Frishman was EVP & CIO with Open Access Ltd. (OAL). During his tenure at OAL he was responsible for managing institutional portfolios as well as capital accumulation plans and was instrumental in significantly increasing the firm’s asset base.

With more than 35 years of experience in investment management (more than half of which was in senior positions with the Ontario Teachers’ Pension Plan), Mr. Frishman is well versed in all aspects of fund management, e.g. development of policies, strategic and tactical asset allocation, risk management, portfolio construction and selection of external managers. He is also a frequent conference speaker on investment management topics. 

In 2010 Mr. Frishman received both the Benefits Canada award for outstanding achievement and recognition as one of Canada's "Top 25 Most Influential Plan Sponsors."

In addition to his role with the Brandes Institute, he is a board member with the Canadian Investment Review. He also served for 5 years as a board member and treasurer of a not-for-profit organization.

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James Herrington, CFA, CAIA
Private and Public Equity Investment Officer, West Virginia Investment Management Board

James Herrington is currently the Private and Public Equity Investment Officer at the West Virginia Investment Management Board (WVIMB), the state’s $18 billion pension fund. He is the Head of Public Equity, a position which involves manager selection and monitoring. And he is the Head of Private Equity, with direct responsibility for building the private equity portfolio, a new program when Mr. Herrington joined WVIMB in 2008.

Mr. Herrington started his investment management career in 1985, and graduated from business school in 1992. In his professional discipline, he has worked as a securities analyst, exclusively for the first seven years, a corporate credit analyst for a then top-ten international bank, as well as a private client and portfolio design manager for a then billion dollar AUM Registered Investment Advisory firm in New York City. In April 2002, he created his own company, Herrington Investment Solutions, Inc., which serves the individual needs of his clients, offering them strategic solutions, portfolio management, and financial planning.

Mr. Herrington earned his B.A. from Emory University, with full double majors in Economics and Political Science, and his M.B.A. from Georgia Tech, majoring in Investments. Originally from Pittsburgh, he graduated from Shady Side Academy. He holds a Paralegal Certificate from the University of Pittsburgh, and has graduated from the Institutional Limited Partners Association (ILPA) Institute.

Mr. Herrington volunteers with the ILPA, specifically the Education Committee. This group produces the curriculum and content for the annual conference, webcasts, and the ILPA Institute. He also currently serves as the co-leader of the CFA Society of Pittsburgh’s Endowments and Foundations Conference.

As a CFA Charterholder, Mr. Herrington is a member of the CFA Institute and its local society in Pittsburgh. Prior to that, he had been a member of the CFA societies in Los Angeles and Orange County, and was among the founding members of, and board member for, what was then known as the Southern Nevada society. Mr. Herrington was a member of the New York (City) Society of Securities Analysts for over ten years, beginning right after business school. In 2015, he completed the CFA Institute’s Continuing Education Program’s 10-year Milestone. Mr. Herrington has recently been named as the Secretary of the CFA Society Pittsburgh, a Board-level position.

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Robert M. Maynard 
CIO, Public Employee Retirement System of Idaho

Robert M. Maynard is currently Chief Investment Officer for the Public Employee Retirement System of Idaho. Previously he served as Deputy Executive Director of the Alaska Permanent Fund Corporation and as Assistant Attorney General for the state of Alaska.

In addition to his duties for the Idaho Retirement System, Mr. Maynard serves on the Board of Directors for a number of investment-related organizations, including the College of Western Idaho Foundation and the Boise State University Foundation. He also serves on the Board of Advisors for the Alaska Permanent Fund Corporation.

Mr. Maynard is also on the Board of Directors of the City Club of Boise, the Boise Public Schools Education Foundation and was a National Trustee for the Boys and Girls Clubs of America.

Mr. Maynard graduated from Claremont Men’s (now Claremont McKenna) College and received his JD from the University of California, Davis School of Law

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William J. Raver 
Managing Director, Alban Row Investments, LLC

After serving as Corporate Treasurer of Young & Rubicam, Inc. and Cadbury Schweppes, Inc., William J. Raver moved to the buy side of global capital markets, becoming Director of Research at Evaluation Associates, then Managing Director/Chief Operating Officer of Verizon Investment Management ($65 billion in assets under management (AUM)) and finally CEO/Chief Investment Officer of the National Railroad Retirement Investment Trust ($32 billion in AUM). Today he manages his own firm, Alban Row Investments, providing consulting and advisory services to retirement plans, endowments, foundations and money managers. He also serves as a Director or Investment Committee Member for a number of financial institutions, including a NYSE-listed insurance company. Mr. Raver holds an MBA in International Business from the Wharton School at the University of Pennsylvania (where he was a Joseph P. Wharton Fellow) and a BA in International Affairs from Lafayette College, where he has served as a trustee and alumni association president.

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Kim Shannon, CFA 
President & Chief Investment Officer Sionna Investment Managers

Kim Shannon is the founder of Sionna Investment Managers. She is responsible for the firm’s investment strategy and corporate strategic direction. As Chief Investment Officer, she leads and motivates the portfolio managers and analysts on the investment team. Prior to founding Sionna, Ms. Shannon was Chief Investment Officer and Senior Vice President for the Canadian affiliate of a large multinational investment firm. Ms. Shannon earned her Bachelor of Commerce and Economics and her MBA at the University of Toronto and holds the CFA designation. Ms. Shannon has served on numerous community and industry boards and is currently the Chair of the Chartered Financial Analysts Seminar Board of Regents. She has over 28 years experience in the industry.

Ms. Shannon was awarded the Morningstar Fund Manager of the Year for 2005. Further, Ms. Shannon was awarded the RBC Canadian Woman Entrepreneur Award and the WXN’s Canada’s Most Powerful Women Top 100 Award in 2007.

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Internal Advisory Board Members - North America, Europe and Asia-Pacific


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Mauricio Abadia
Senior Analyst

Mauricio Abadia is an analyst on the Utilities Research Team, covering the global electric, gas and diversified utilities sectors. He is also a voting member of the Emerging Markets Investment Committee.

Prior to joining Brandes, Mr. Abadia was a Senior Consultant with Deliotte. He earned an MBA (with honors) from the Haas School of Business at the University of California, Berkeley and a BS in systems engineering (with distinction) from the University of Virginia. His relevant experience began in 2006. He joined Brandes Investment Partners in 2010 and is fluent in Spanish.

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Bryan Barrett, CFA
Analyst

Bryan Barrett is an analyst on the Industrials and Financial Institutions Research Teams, covering global capital goods and commercial services companies, as well as global banks, insurance, holding companies and capital markets firms.

Prior to joining Brandes, Mr. Barrett completed the Research Associate program at Brandes Investment Partners on the Financial Institutions Research Team. He earned a BA in philosophy (with honors) and a BA in economics from the University of Southern California. His relevant experience began in 2008 and he joined Brandes the same year.

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Rhonda Berger
Director, Institutional Client Portfolio Management

Rhonda Berger is a member of the Investment Oversight Committee, which monitors the processes and activities of the firm’s investment committees. She leads the firm’s Institutional Portfolio Management Team, which works with institutional clients and their consultants to provide insights and interpretation of the firm’s portfolio strategies and investment philosophy, and coordinates with investment committees to ensure that the firm accommodates client-specific guidelines and considers existing portfolio allocations when implementing investment decisions.

Previously, Ms. Berger was a Product Specialist for the firm’s Mid Cap strategies. Prior to joining Brandes, she was a Managing Director in international equities with Dresdner Kleinwort Benson where she oversaw the Japanese Equity Research Sales Desk. Ms. Berger earned her BA in economics from Wellesley College and her MBA with a concentration in finance from the Stern School of Business at New York University. Her experience began in 1988, and she joined Brandes Investment Partners in 2002.

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Glenn R. Carlson, CFA
Executive Director

Glenn Carlson is a member of the firm’s Investment Oversight Committee, which monitors the processes and activities of the firm’s investment committees. Mr. Carlson earned his BA from the University of California, San Diego. His relevant experience began in 1983, and he joined Brandes Investment Partners in 1986.

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Anita Krishnamoorthy, CFA
Chief Executive Officer, Brandes Asia

Anita Krishnamoorthy is Chief Executive Officer for Brandes Investment Partners (Asia) Pte. Ltd. (“Brandes Asia”), which is headquartered in Singapore and is an affiliate of Brandes Investment Partners, L.P. She joined Brandes Investment Partners in 2015 and is responsible for developing and maintaining relationships with consultants and plan sponsors in the Asia-Pacific region. She is also an analyst on the Financial Institutions Research Team, covering companies in the Asia-Pacific region.

Her relevant experience began in 2000. She was previously a Fund Manager with Value Partners Singapore, Chief Executive Officer and Senior Research Analyst with Third Avenue Singapore, and Senior Vice President with First Eagle. 

She holds an MBA from the Wharton School of the University of Pennsylvania and a Bachelor degree in Accounting (with honors) from Nanyang Technological University.

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Oliver Murray
Managing Director, Portfolio Management and Client Services

Oliver Murray is responsible for the firm’s global client service, sales and marketing efforts. He is a member of the Senior Management Team, which is responsible for the firm's day-to-day operations and long-term strategic direction. Mr. Murray also serves as Chief Executive Officer of Brandes Investment Partners’ Canadian operation, Bridgehouse Asset Managers, and is responsible for all of the firm’s Canadian functional areas.

Prior to joining Brandes, Mr. Murray was Executive Vice President and Chief Operating Officer with Mackenzie Investments, as well as EVP Operations with Trimark Investment Management Inc. Mr. Murray is the Chair of the Ireland Fund of Canada, and is past Chair of both the Board of Directors of the Investment Funds Institute of Canada (IFIC) and FundSERV (Canada). His relevant experience began in 1996, and he joined Brandes Investment Partners in 2002.

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Dylan Turner, CFA
President and Chief Executive Officer, Brandes Investment Partners (Europe) Limited

Dylan Turner is responsible for Brandes’ business in Europe, the Middle East and Africa (EMEA). He is also responsible for developing and maintaining relationships with consultants and plan sponsors in the EMEA region.

Prior to joining Brandes, Mr. Turner was Vice President of Sales with AGF Funds Inc., serving the investment community in eastern Canada, and was an investment advisor with RBC Dominion Securities in Montreal. He holds a BComm from the University of Ottawa. His relevant experience began in 1995, and he joined Brandes Investment Partners in 2004.

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Research Director, Brandes Institute Advisory Board


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Barry M. Gillman, CFA
Research Director, Brandes Institute Advisory Board

Barry M. Gillman is the Research Director, Brandes Institute Advisory Board. He joined Brandes Investment Partners in 2002, and was a founder of the Brandes Institute as well serving as the firm’s Director of Portfolio Strategies. Since 2012, he has been Principal at Longevity Financial Consulting LLC, providing consulting services to Brandes and other financial organizations worldwide. As Research Director of the Brandes Institute Advisory Board, he continues to consult to the Brandes Institute on research projects. Prior to joining Brandes, he led a global investment consulting firm and held senior positions with investment institutions in the United States and the United Kingdom. He is a graduate of Cambridge University, a Fellow of the Institute of Actuaries (FIA) and an Associate of the Society of Actuaries (ASA). Gillman has over 40 years of investment experience, including equity and fixed-income portfolio management, marketing and business management.

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