December 29, 2011
LANSING, Mich. - Gov. Rick Snyder today announced the appointments of Naif "Nick" Khouri, of Plymouth, and L. Erik Lundberg, of Ann Arbor, to the state's Investment Advisory Committee.
The committee reviews investments, goals and objectives of the state's various retirement funds and may submit recommendations to the state treasurer, or with votes, direct the state treasurer to dispose of or enter into investments.
"Nick and Erik bring extensive experience to these posts and I am confident their background, knowledge and skills will help the state continue to ensure prudent and effective investing," Snyder said.
Khouri is the vice president and treasurer of DTE Energy. He previously served as vice president and partner at Public Sector Consultants, chief deputy treasurer for the Michigan Department of Treasury, chief economist for the Michigan Senate Fiscal Agency, and an analyst for the U.S. Congressional Budget Office. Khouri serves as chair for the EEI Treasurer's Forum, Children's Hospital of Michigan Board of Directors and the Detroit Local Initiatives Support Corporation. He is a member of the Detroit Medical Center's finance committee and serves as treasurer for the Citizens Research Council of Michigan. Khouri earned a bachelor's degree in economics from the University of Michigan and a master's degree in economics from Michigan State University.
Khouri will serve the remainder of a three-year term expiring Dec. 15, 2012, filling a vacancy created by the resignation of Roger Robinson. He is also appointed chair for a term at the pleasure of the governor.
Lundberg is the chief investment officer at the University of Michigan where he is responsible for directing the university's investment programs, which includes the seventh largest endowment of a higher learning institution valued at approximately $7.8 billion. Prior to joining U of M in 1999, Lundberg held positions with Ameritech where he helped develop overall investment strategy, led global asset allocation activities and managed both U.S. and non-U.S. equity programs. He earned his bachelor's in business administration from the University of Wisconsin, his MBA from Ohio State University, and is also a chartered financial analyst through the Institute of Chartered Financial Analysts.
Lundberg will serve a term that expires Dec. 15, 2014, and replaces David Sowerby.
Both appointments are subject to the advice and consent of the Senate.
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