Board

Justice Mary Seminara-Schostok

Chairwoman
Justice Mary Seminara-Schostok

Chairwoman

Justice Mary Seminara-Schostok is the chairwoman for the Illinois State Board of Investment and was elected to the Board in 2013. She is also the Chair of the Judges’ Retirement System.

Justice Schostok is the former president of the Illinois Judges Association, sits on many legal committees and is a frequent speaker on legal topics. Additionally, she is on the Board of Directors for Carmel Catholic High School in Mundelein, IL. Justice Schostok is the founding member and a board member for The Michael Matters Foundation, which assists individuals diagnosed with brain cancer.

Justice Schostok received her B.S. from Youngstown State University and her J.D. from Capital University Law School.

Treasurer Michael W. Frerichs

Vice Chair
Treasurer Michael W. Frerichs

Vice Chair

Michael Frerichs, State Treasurer of Illinois, has served on the Illinois State Board of Investment since 2015.

Treasurer Frerichs was elected to office in November 2014 as the 74th person to serve in this role where after spending just under one year in office, he was elected by his peers across the country to be on the National Association of State Auditors, Comptrollers and Treasurers' Executive Committee. Treasurer Frerichs’ initiatives have centered on encouraging savings plans for college and trade schools, increasing financial education among all ages, removing barriers to a secure retirement, and protecting residents from predatory companies.

Treasurer Frerichs graduated with a B.A. from Yale University and continued on to attend National Cheng Kung University in Taiwan where he studied Mandarin Chinese while teaching English courses.

Gisela Attlan

Recording Secretary
Gisela Attlan

Recording Secretary

Ms. Gisela Attlan is a real estate adviser at Engel & Völkers Chicago who specializes in residential transactions. Prior to residential real estate, Ms. Attlan worked for 14 years at Nuveen, a global asset management firm, where she was responsible for developing and managing the business in Latin America and the international client segment in the U.S. She previously worked in the areas of marketing and product strategy. Ms. Attlan started her career in 1994 in Buenos Aires, Argentina, doing international business for a large industrial group.  Ms. Attlan earned her Master of Business Administration in finance from Sawyer School of Management and her bachelor’s degree in marketing from Argentine Business University (U.A.D.E).

*Appointee’s term expires on May 31, 2021

Comptroller Susana A. Mendoza

Member at Large
Comptroller Susana A. Mendoza

Member at Large

Susana A. Mendoza, Illinois State Comptroller, has served on the Illinois State Board of Investment since 2016.

Prior to her statewide election, she made history by becoming the first woman ever elected as Chicago City Clerk. Originally elected in 2000 as the youngest member of the 92nd Illinois General Assembly, she was most notably recognized for her leadership and legislation on social services, education, law enforcement, job creation and animal welfare.

Comptroller Mendoza attended Truman State University, formerly Northeast Missouri State University, where she earned her Bachelor’s degree in Business Administration.

Terrence Healy

TRUSTEE
Terrence Healy

TRUSTEE

Terry Healy was a student at Loyola University in Chicago in 1972 when he landed his first job as a union construction laborer after joining Local 2. He received a bachelor’s degree major in accounting then began employment with Illinois Bell Telephone Company until 1983 when he became an auditor for LIUNA. Within two years he was promoted to Assistant Regional Manager of the former Chicago Region until 1993 when he became the Great Lakes Regional Manager. At LIUNA's 21st Convention in 1996, Terry was elected Vice President and has held this title ever since. He is a trustee for two labor-employer trusts and LIUNA’s Pension, Health & Safety and Training & Education Funds. He remains committed to labor-management cooperation, apprenticeship, training and education. He has served as an Illinois State AFL-CIO Vice President since 1994 and chaired the State of Illinois Procurement Policy Board from 2004-09.

Senator Robert Martwick

TRUSTEE
Senator Robert Martwick

TRUSTEE

Robert Martwick Jr. is a member of the Illinois Senate and has served the 10th District in this capacity since 2019. He is currently the Chairman of the General Assembly Retirement System and also practices as an attorney at the firm of Finkel, Martwick & Colson, P.C.

Prior to his experience above, Senator Martwick served as a Representative for the 19th District. He began his legal career as an Assistant State's Attorney in the Cook County State's Attorney's Office. During his 5 years, he prosecuted various crimes including Delinquent Child Support, DUI and general misdemeanors, and spent 18 months as the lead prosecutor of the Domestic Violence Unit at the 2nd Municipal District courthouse.

Senator Martwick earned his Law Degree from The John Marshall Law School and his Bachelor of Arts degree in Economics from Boston College.

Elizabeth Sanders

Trustee
Elizabeth Sanders

Trustee

Ms. Elizabeth Sanders has over 35 years of experience in the banking and investment management industry. Most recently, she spent 20 years as a Managing Director and Client Relationship Manager at UBS Asset Management, where she was responsible for client relationships with institutional investors, until her retirement in 2016. She previously served as Chief Investment Officer of the Iowa Public Employees' Retirement System for nearly five years. Ms. Sanders began her career in the institutional trust and asset management business at the Northern Trust Company and Harris Bank. She earned a Master of Business Administration in finance from DePaul University, a Bachelor of Science in psychology from St. Lawrence University, and the Chartered Alternative Investment Analyst (CAIA) professional designation.

*Appointee’s term expires on June 1, 2023

Michael Tarnoff

Trustee
Michael Tarnoff

Trustee

Mr. Michael Tarnoff retired in 2015 as the Executive Vice President and Chief Financial Officer of the Jewish Federation of Metropolitan Chicago (Federation), a position he held for 36 years. He continues to serve as a consultant to the Federation and many other 501(c)(3) charitable organizations. Mr. Tarnoff has served on the boards of Michael Reese Health Trust, Howard Area Community Center, Ness Healthcare and First Nonprofit Insurance Companies, as well as the FASB (Financial Accounting Standards Board) Nonprofit Advisory Committee. Mr. Tarnoff received his Master of Business Administration at Booth School at the University of Chicago.

*Appointee’s term expires on May 31, 2021

Jaye Williams

Trustee
Jaye Williams

Trustee

Ms. Jaye Williams is a seasoned financial executive and management consultant having spent more than 35 years in the public and private sectors managing and delivering large complex engagements and strategic initiatives. Ms. Williams provides a broad range of consulting, client management and product development strategies as a Managing Principal for EKI Digital where she blends her business acumen and strategic management experience. During the Obama administration, Ms. Williams served as Assistant Commissioner and Chief Financial Officer for US Customs and Border Protection, the largest operation in the US Department of Homeland Security. She received her Master of Business Administration from Northwestern University and a BS in Finance from the University of Illinois, Champaign-Urbana. She has also studied at Harvard University’s John F. Kennedy School of Government where she completed the Executive Education Program for Senior Managers in Government.

*Appointee’s term expires on July 14, 2022

Committees

EXECUTIVE

Board Chairwoman Justice Mary Seminara-Schostok
Vice Chair, Treasurer Michael W. Frerichs
Recording Secretary, Gisela Attlan
Member-at-Large, Comptroller Susana A. Mendoza

AUDIT & COMPLIANCE

Chairwoman Justice Mary Seminara-Schostok
Gisela Attlan
Terrence Healy
Comptroller Susana A. Mendoza
Michael Tarnoff

INVESTMENT POLICY

Chairman Michael Tarnoff
Gisela Attlan
Terrence Healy
Elizabeth Sanders
Justice Mary Seminara-Schostok
Jaye Williams

EMERGING MANAGER

Chairwoman Gisela Attlan
Treasurer Michael W. Frerichs
Senator Robert Martwick
Comptroller Susana A. Mendoza
Jaye Williams

DEFINED CONTRIBUTION

Chairman Senator Robert Martwick
Treasurer Michael W. Frerichs
Comptroller Susana A. Mendoza
Elizabeth Sanders
Justice Mary Seminara-Schostok
Jaye Williams

ISBI Team

Johara Farhadieh

Executive Director/Chief Investment Officer

Johara Farhadieh

Executive Director and Chief Investment Officer

Johara Farhadieh serves as the Executive Director and Chief Investment Officer of the Illinois State Board of Investment (ISBI), where she has dedicated over 13 years of her career. She oversees a $20.0 billion defined benefit fund and a $5.0 billion defined contribution plan on behalf of 156,000 beneficiaries. In her leadership position, Mrs. Farhadieh is responsible for overseeing all investment operations, managing and executing ISBI’s investment policies, and assisting the Trustees in the strategic direction of ISBI. In addition, Mrs. Farhadieh leads the continued effort of promoting diversity, equity, and inclusion within ISBI.

 

Under Mrs. Farhadieh’s leadership, ISBI has developed into one of the nation’s leading pension funds, with key accomplishments including the restructuring of the defined benefit fund and a full re‐enrollment of the defined contribution plan. Most recently, the American Investment Council ranked ISBI’s private equity portfolio performance first among public pension funds for the ten years ending June 30, 2019.

 

Mrs. Farhadieh continues to be recognized as a thought leader on institutional investing as well as a strong advocate for diversity, equity, and inclusion in the financial industry. Most recently she was recognized by Trusted Insight as a 2020 All-Star Chief Investment Officer. In addition, she was named to Crain’s Chicago Business 40 Under 40 list for 2018.

 

Mrs. Farhadieh received her Master of Business Administration with honors from the Kellstadt Graduate School of Business at DePaul University and a Bachelor of Science in Finance from DePaul University College of Commerce.

Dipesh Mehta

Deputy Executive Director/General Counsel/Chief Compliance Officer

Dipesh Mehta

Deputy Executive Director, General Counsel, and Chief Compliance Officer

Dipesh Mehta serves as the Deputy Executive Director, General Counsel and Chief Compliance Officer at the Illinois State Board of Investment. In this position, Mr. Mehta is responsible for overseeing ISBI’s legal matters, providing a wide range of legal advice/opinions to the ED/CIO regarding investment matters and compliance with federal and state laws, as well as serving as the Secretary of the Board of Trustees of ISBI.

 

Prior to joining ISBI in 2018, Mr. Mehta advised a broad array of venture capital, private equity and start‐up firms with an acute focus on deal sourcing, legal structure, and valuations. Mr. Mehta also previously held positions at Sterling Partners, Chapman and Cutler LLP, and Aon Corporation.

 

Mr. Mehta received his J.D. from Loyola University Chicago School of Law, where he served as the Executive Editor of the Consumer Law Review and was a Rose Marie Russo Scholarship recipient. Prior to law school and under a Damen Scholarship, he earned his B.B.A. in Finance and Economics from the Quinlan School of Business at Loyola University Chicago.

Jansen Hein

Director of Operations, Accounting and Audit

Jansen Hein

Director of Operations, Accounting, and Audit

Jansen Hein serves as ISBI’s Director of Operations, Accounting, and Audit, a continuation of his entire career spent in the financial services industry. In his Director role, Jansen oversees ISBI’s in-house business operations, defined benefit plan portfolio custody operations, back office finance and accounting processes, and related internal and external reporting efforts. Jansen’s 8.5 years in public accounting and finance transformation advisory services at EY prior to joining ISBI positions him to optimize operating efficiency while ensuring compliance with necessary accounting and operating requirements.

 

His passion for capital markets and wealth management extends beyond Jansen’s ISBI role, as he serves on HOPE International’s regional board and participates in other international business development investment ecosystem activities.

 

Jansen obtained a Bachelor of Science in Accounting from Messiah College and continues to hold an active CPA license in the State of Illinois.

Scott Richards

Senior Investment Officer – Private Markets

Scott Richards

Senior Investment Officer – Private Markets

Genette Bacon-Cordova

Portfolio Officer for Financial Reporting and Accounting
Genette Bacon-Cordova

Portfolio Officer for Financial Reporting and Accounting

Nadia Oumata

Business Operations and Government Affairs Analyst
Nadia Oumata

Business Operations and Government Affairs Analyst

Mary Cahill

Business Operations and Government Affairs Analyst
Mary Cahill

Business Operations and Government Affairs Analyst

Maryann Hong

Associate General Counsel and Investment Compliance Officer
Maryann Hong

Associate General Counsel and Investment Compliance Officer

Jennifer Koelle

Investment Officer – Public Markets
Jennifer Koelle

Investment Officer – Public Markets

Polly Smith

Private Secretary
Polly Smith

Private Secretary

Alex Somolski

Assistant Investment Officer
Alex Somolski

Assistant Investment Officer

Atul Talwar

Chief Information Officer
Atul Talwar

Chief Information Officer

Renee Westfield

Administrative Assistant
Renee Westfield

Administrative Assistant