VALLEY FORGE, PA (ABNS 02/06/08) - Dr. Sumner M. Grant, executive director of The Ministers and Missionaries Benefit Board (MMBB), has announced the appointment of Candace Cox as chief investment officer, effective Feb. 4, 2008. Ms. Cox brings 27 years of experience in investment management to the position.
Well known in the institutional investment community, Institutional Investing magazine named her as one of "The Next Generation of Financial Leaders" and Plan Sponsor magazine listed her on its "Plan Sponsor Honor Roll."
Commenting on the appointment, Grant said, "Candace Cox brings great strength to MMBB's investment program. Her proven knowledge and competence as an investment professional, coupled with that of MMBB's outstanding Finance Committee, will give our members even greater confidence in our passion to be a premier provider of retirement products and services. I am delighted that we have been able to attract a person of Candace's caliber to our team."
Ms. Cox has built a distinguished career managing the investments of major pension funds, the largest of which was Bell Atlantic (formerly NYNEX) Asset Management Company, where she served as president and chief investment officer for its $54 billion in assets . Prior to that, she was principal investment officer with the New York City Comptroller's Office, with responsibility for investing $46 billion in assets for nine public pension funds.
Earlier in her career Ms. Cox invested institutional assets for major multi-national corporations, including Schering-Plough, AMF Inc. and Allied Corp. (now Honeywell).
Ms. Cox comes to MMBB from Emerald Capital Advisors LLC, a consulting company, where she will retain her managing partner status.
Ms. Cox served two terms on the Board of Directors of the American Heart Association and chairs its Investment Committee in New York. In addition, she is a member of the Board of Trustees of the American Red Cross National Endowment and is a member of the Board of Directors of the National Association of Corporate Directors.
A graduate of Rutgers University, Ms. Cox holds an M.B.A. degree in finance from New York University. She has published articles on hedge funds, board investment committees, investment time horizons and currency overlay programs for institutional investors.
Andrew C. Jayne American Baptist Churches USA Mission Resource Development http://www.abc-usa.org/