Leadership Team
John DeMairo
President and Chief Executive Officer
jdemairo@segalrc.com
Mr. DeMairo is the President and Chief Executive Officer of Segal Rogerscasey and has over 25 years of investment consulting experience. He is located in the firm’s New York office and also serves on the Board of Directors for The Segal Company.
In addition to his management responsibilities, Mr. DeMairo serves as lead investment consultant to several major multiemployer, public and corporate plan sponsor clients, providing consulting services and expertise to defined benefit, defined contribution and other types of investment programs. He provides expertise in the development of investment strategies, the selection of investment managers and the measurement and evaluation of investment performance.
Mr. DeMairo is a magna cum laude graduate of St. John’s University, where he received a BS in Quantitative Analysis in 1985 and an MBA in Finance in 1988. Mr. DeMairo is a member of the Investment Management Consultants Association (IMCA) and the International Foundation of Employee Benefit Plans (IFEBP). He is a regular participant in the American Federation of Labor and Congress of Industrial Organizations’ (AFL-CIO) Investment Consultant Advisory Board.
Timothy Barron, CAIA
Chief Investment Officer
tbarron@segalrc.com
Mr. Barron is the Chief Investment Officer of Segal Rogerscasey, responsible for management of the firm’s research department and oversight of all investment activities. Mr. Barron was previously President and CEO of Rogerscasey and its head of Research. He joined Rogerscasey in 2002 and has 35 years of experience in the investment industry.
Before joining Rogerscasey Mr. Barron was Director of U.S. Institutional Client Development at Muzinich & Co., a high yield bond investment specialist firm. Prior to that, he was a Principal at Morgan Stanley Dean Witter Investment Management. He was a Managing Director and Senior Consultant at BARRA RogersCasey, where he led a team providing consulting services to a variety of clients and had held a similar role at Watson Wyatt Asset Consulting. Mr. Barron was also the Chief Investment Officer for the Virginia Retirement System, and the Executive Director of the City of Richmond Retirement System.
Mr. Barron has a BA in Philosophy from Emory University and an MBA in Finance from Georgia State University. He holds the CAIA designation and is a member of the CAIA Association. Mr. Barron is the past chairman of the Finance and Investment Committees of the Girl Scouts of Southwestern Connecticut and has been a team co-captain for the Ridgefield Relay for Life.
Senior Vice Presidents/Principals
Seth Almaliah, CFA
Senior Vice President
salmaliah@segalrc.com
Mr. Almaliah is a Senior Vice President and Consultant in Segal Rogerscasey’s New York office with nearly 15 years of investment consulting experience. He consults to both defined benefit and defined contribution plans.
Mr. Almaliah serves as lead investment consultant to many multiemployer and public funds. His responsibilities include assisting clients in the development of investment policy and asset allocation strategy, the selection of investment managers and custodians, and the evaluation of investment performance. Mr. Almaliah also conducts investment manager due diligence and performs asset liability modeling. Mr. Almaliah is a member of the firm’s Asset Allocation Committee.
Prior to joining Segal Rogerscasey, Mr. Almaliah worked at CIBC Oppenheimer. He graduated from Hofstra University with a BS in Industrial Engineering and holds the Chartered Financial Analyst (CFA) designation.
Jeffrey C. Boucek, CFA
Senior Vice President
jboucek@segalrc.com
Mr. Boucek is a Senior Vice President and Consultant in Segal Rogerscasey’s Atlanta office. He has nearly 30 years of sales and management experience. Mr. Boucek has worked with both consulting and financial services firms across the corporate, public sector and multiemployer markets. He is responsible for consulting, client relationship management and new business development.
Prior to joining Segal Rogerscasey, Mr. Boucek held senior roles at Mercer Investment Consulting and Towers Perrin (now Towers Watson). Mr. Boucek graduated magna cum laude with a BS in Business and Accounting and an Economics minor from the University of Pittsburgh. He earned a Master of Public Management degree from Carnegie Mellon University. He holds the Chartered Financial Analyst (CFA) designation and is a member of the CFA Institute and the Pittsburgh Society of Financial Analysts.
John M. Dickson
Senior Vice President
jdickson@segalrc.com
Mr. Dickson is a Senior Vice President in Segal Rogerscasey’s Atlanta office and has over 30 years of experience in the investment industry. He provides advice on asset allocation, manager selection and portfolio construction to some of the firm’s largest corporate, health care, public and not-for-profit clients. Mr. Dickson has served on various committees within the firm during his tenure and currently serves on the Manager Review Committee, which provides oversight of the Research teams manager review process. Prior to his current position, Mr. Dickson served as the CEO of CRA Rogerscasey.
Prior to rejoining Segal Rogerscasey in 2001, Mr. Dickson was a senior member of the Investment Consulting team at Mercer Investment Consulting, where he served as a WorldWide Partner and Principal. As a member of their Board of Directors, he helped shape the National and Global direction of their Investment Consulting Practice. Mr. Dickson also served as the Practice Leader for Mercer's investment consulting activities throughout the South and Southwest. Prior to that, he worked as the Managing Director of SEI Capital Resources' Southern Region. Mr. Dickson began his consulting career with A.G. Becker, a predecessor to Rogerscasey.
Mr. Dickson received his BS degree in Business Administration with an emphasis in Finance from Arkansas State University and his GSCFM Certification from Stanford University. After graduation, he played professional basketball for the New Orleans Buccaneers of the American Basketball Association. He has been a member of numerous investment organizations including the Southern Employee Benefits Council, National Council on Teacher Retirement, National Association of State Retirement Administrators and National Foundation of Employee Benefit Plans. He also remains active in several local organizations in the Atlanta area.
William L. Eckman, CFA
Senior Vice President
leckman@segalrc.com
Mr. Eckman is a Senior Vice President in Segal Rogerscasey’s Atlanta office with over 22 years of experience in investment consulting. His duties include relationship management and delivery of professional investment advice. He works with clients to understand and achieve their investment objectives, policies, risk control procedures and manager performance. His expertise includes traditional long-only and alternative investment manager search as well as asset allocation and ALM studies. He works with corporate defined benefit and defined contribution clients, public plans, foundations and endowments. Mr. Eckman is also a member of the firm’s Fiduciary Investment review Committee, which provides oversight for fully discretionary relationships.
Prior to joining Segal Rogerscasey, Mr. Eckman was Managing Director of Sales with The Travelers and directed the firm's southeastern marketing effort. He began his career at The Watson Wyatt Company as an Analyst then became a Senior Consultant prior to his departure.
Mr. Eckman graduated from the University of Tennessee, with Honors, in Commercial Design and holds an MBA from Florida International University. He holds the Chartered Financial Analyst (CFA) designation and is a member of the Atlanta Society of Financial Analysts.
Peter Gerlings
Senior Vice President, Investment Solutions
pgerlings@segalrc.com
Mr. Gerlings is the Senior Vice President, Investment Solutions, in Segal Rogerscasey’s Boston office. He has over 20 years of institutional investment experience. He is responsible for Segal Rogerscasey’s Multi-Manager Solutions platform, which includes MasterManagerSM, target-date retirement funds and model portfolios for financial intermediaries. Mr. Gerlings is also a member of the firm’s Manager Review Committee, which evaluates both traditional and non-traditional manager recommendations and the Editorial Board, which is charged with developing, leveraging and sharing our thought leadership in the investment community.
Prior to joining Segal Rogerscasey, Mr. Gerlings worked in the London office of K2 Advisors, a leading hedge fund of funds manager, and at New England Pension Consultants. Mr. Gerlings received his BA from the University of Nebraska at Omaha and his MBA from Boston University. He holds the CFA Institute’s Chartered Financial Analyst (CFA) designation as well as the CAIA designation from the Chartered Alternative Investment Analyst Association. Mr. Gerlings is also a member of the Boston Security Analysts Society.
Alan Kosan, JD
Senior Vice President, Head of Alpha Investment Research
akosan@segalrc.com
Mr. Kosan is the Senior Vice President, Head of Alpha Research in Segal Rogerscasey’s Darien office and has over 20 years of alternative investment experience. The Alpha Investment Research Group is responsible for Fundamental/Quantitative Manager Research. He is a member of the firm’s Fiduciary Investment Review Committee, which provides oversight for our fully discretionary relationships.
Prior to joining Segal Rogerscasey, Mr. Kosan was the Director, Consultant Relations and Institutional Marketing for Henderson Global Investors North America. Before Henderson, he was the head of the Alternative Investment portfolios at both the Philip Morris and United Technologies Corporation pension funds. Mr. Kosan has also worked in a variety of management positions with both real estate and private investment groups. Over the course of his career, Mr. Kosan has served as an institutional limited partner or advisor to limited partners in over 90 private equity funds representing in excess of $1.1 billion of committed capital. He has also served on a number of private equity and real estate fund Advisory Boards.
Mr. Kosan has a BA, summa cum laude with distinction, from Boston University's College of Liberal Arts. He has a Juris Doctor degree from Emory University School of Law. He is a NASD licensed Series 7 and 63 Registered Representative. Mr. Kosan currently sits on the United Way of the Capitol Region and Connecticut Public Broadcasting, Inc. (CPTV) Endowment Investment Committees.
Robert A. Liberto
Senior Vice President
rliberto@segalrc.com
Mr. Liberto is a Senior Vice President in Segal Rogerscasey’s New York office with over 35 years of experience in the employee benefits field. He developed and serves as Practice Leader for DC-Connect®, a comprehensive defined contribution search and vendor selection service. As a nationally known expert on defined contribution plan design and technical administration issues, Mr. Liberto has written numerous articles on defined contribution plan issues and has been quoted in national news, business and trade publications. In addition, he frequently speaks at employee benefit seminars.
Mr. Liberto is a delegate to the Profit Sharing Council of America. As a member of the Steering Committee for the Society of Professional Asset Managers and Recordkeepers (SPARK), he was the Committee Chairman for the industry-wide RFP standardization, which developed SPARK’s “RFP Guide for Plan Sponsors.” Mr. Liberto has served on Schwab’s Institutional Pension Administrators Service Advisory Board and on the Investment Policy Committee of the National Association of Government Defined Contribution Administrators, Inc. (NAGDCA). He served in the United States Navy from 1968 to 1972.
Lawrence Marino, CFA
Senior Vice President
lmarino@segalrc.com
Mr. Marino is a Senior Vice President in Segal Rogerscasey’s Boston Office and has 20 years of investment consulting experience for all types of employee benefit plans, including Taft-Hartley, corporate and public sectors. In addition to overseeing Segal Rogerscasey’s Boston office, he serves as lead investment consultant to several major multiemployer and public plan sponsor clients. He provides expertise in the development of investment strategies, the selection of investment managers and the measurement and evaluation of investment performance.
Prior to joining Segal Rogerscasey, Mr. Marino was an asset management consultant with a well-known brokerage firm. He was the comptroller for the City of Newton and a member of the Newton Retirement Board for 18 years, the last four of which he served as Chairman.
Mr. Marino graduated from Boston College and received his MBA from Boston University. He has taught finance and accounting courses at Suffolk University, Boston University and Boston College. Mr. Marino holds the Chartered Financial Analyst (CFA) designation. He served in the United States Army from 1967 to 1969, which included a tour of duty in Vietnam.
David O’Donovan
Senior Vice President
dodonovan@segalrc.com
Mr. O’Donovan is a Senior Vice President in Segal Rogerscasey’s Chicago office with over 25 years of investment experience. He leads a team that provides consulting services to corporate and public pension plans and endowment funds. Mr. O’Donovan works with clients to build the foundations for successful investment programs, including a common understanding of the needs of the fund, a careful design of the investment structure and close attention to manager selection and monitoring. He also serves as Chair of the firm’s Manager Review Committee, which has oversight and compliance responsibility for all managers recommended by Segal Rogerscasey.
Prior to joining Segal Rogerscasey, Mr. O’Donovan held several positions at A.G. Becker Funds Evaluation Service, which was subsequently acquired in 1983 by SEI, a predecessor to Rogerscasey. Most recently, he was the Head of Manager Search Services. Previously, Mr. O’Donovan was a Project Manager for the fund evaluation division in charge of the development and implementation of new performance evaluation products. He also worked for three years at McGraw-Edison & Co. as the Manager of Pension Plan Administration.
Mr. O’Donovan received his BA in Economics from the University of Notre Dame and his MBA in Finance from Loyola University.
David Pappalardo
Senior Vice President, Advisor Solutions Group Practice Leader
dpappalardo@segalrc.com
Mr. Pappalardo is a Senior Vice President and the Practice Leader for the Advisor Solutions Group in Segal Rogerscasey’s Boston office. He has over 15 years of experience in the investment industry. The Advisor Solutions group is responsible for providing a full range of consulting services to broker dealers, banks, insurance companies, registered investment advisors, multi-family offices, and other intermediaries that serve the high net worth marketplace.
Prior to joining Segal Rogerscasey, Mr. Pappalardo held senior roles in asset management, investment consulting and wealth management. Most recently, he was Senior Vice President and Global Relationship Management Leader for GE Asset Management. Prior to GE, Mr. Pappalardo was a Director of Investment Consulting for Rogerscasey. He was also previously an Assistant Portfolio Manager at Amerivest Advisory Corporation and a financial advisor at both Prudential Securities and Oppenheimer & Co.
Mr. Pappalardo graduated with a BS degree in Finance from the University of Massachusetts – Lowell. He holds the CAIA designation from the Chartered Alternative Investment Analyst Association as well as the Accredited Investment Fiduciary (AIF) designation from the Center of Fiduciary Studies.
Marc S. Procek
Senior Vice President
mprocek@segalrc.com
Mr. Procek is a Senior Vice President in Segal Rogerscasey’s Boston office. He consults to clients in a variety of investment areas including asset allocation, investment design, manager selection, and portfolio oversight for defined benefit, defined contribution, public, endowment, and health care-related funds. He is a member of the firm’s Manager Review Committee with oversight and compliance responsibility for all managers recommended by Segal Rogerscasey. He is also a member of several private equity valuation committees, which provide oversight of Segal Rogerscasey’s largest and most complex alternative investment programs and discretionary client relationships.
Prior to joining the firm, Mr. Procek was an Associate Portfolio Manager for Sanford Bernstein where he served the needs of high net-worth clients on the West Coast. He received a BA degree in Economics and Accounting from the College of the Holy Cross.
Richard Ranallo, CFA
Senior Vice President
rranallo@segalrc.com
Mr. Ranallo is a Senior Vice President and Regional Practice Leader in Segal Rogerscasey’s Cleveland office. He has over 20 years of experience covering a broad range of investment consulting functions, including financial modeling, asset allocation analysis, investment policy development and performance measurement. He also has over 10 years of experience consulting to VEBA plans. Mr. Ranallo oversees the firm’s Cleveland office and serves as the lead investment consultant to several major multiemployer and public plan sponsor clients. He provides expertise in the development of investment strategies, the selection of investment managers and the measurement and evaluation of investment performance.
Prior to joining Segal Rogerscasey, Mr. Ranallo worked at the Pittsburgh office of Towers Perrin (now Towers Watson). He also previously worked at Mellon Bank’s Pittsburgh office in their Trust department and performance measurement group.
Mr. Ranallo received an MBA in Finance from the University of Pittsburgh and a BS in Business Administration from Robert Morris University (formerly Robert Morris College). He holds the Chartered Financial Analyst (CFA) designation and is a member of the Financial Analysts Federation, the Association for Investment Management and Research (AIMR), the Cleveland Society of Security Analysts and the Pittsburgh Society of Financial Analysts.
Mr. Ranallo served as a Board Member and on the Finance Committee of the Lupus Foundation of America, Inc. (Cleveland Chapter) from 1998 to 2008.
John Ross, Jr.
Senior Vice President, Head of Beta Research
jross@segalrc.com
Mr. Ross is a Senior Vice President in Segal Rogerscasey’s Darien office. He leads the Beta Research Group, which is responsible for defining and formulating long-, intermediate- and short-term views on strategic asset classes, anticipating macro investment themes, and formulating capital markets assumptions and objective-driven investing.
Prior to joining Segal Rogerscasey, Mr. Ross worked for International Paper, formerly Champion International Corporation as a Senior Associate in the Trust Funds Management Group. He was responsible for manager evaluations, quantitative and qualitative analysis on private equity offerings, and managing the administration of a $2 billion corporate trust fund. He also worked at Xerox Corporation as a Credit Analyst.
Mr. Ross graduated with a BS degree in Economics from the State University of New York, College at Cortland.
Ruo Tan, CFA
Chief Compliance Officer, Segal Rogerscasey Canada
rtan@segalrc.com
Mr. Tan is the President of Segal Rogerscasey Canada and is located in the Toronto office. He has nearly 20 years of experience in the investment industry. His responsibilities include investment consulting, portfolio management, investment research, investment product design and client advisory.
Mr. Tan works with a diverse clientele including corporate pension plans, endowments/foundations, private counsel operations, and wealth management programs for major financial institutions.
Prior to joining Segal Rogerscasey, Mr. Tan was Vice President, Manager Research and Portfolio Strategy, at TD Wealth Management. Previously, he was Managing Director, Investment Management, at CIBC Wealth where he was a member of the executive team and an officer of CIBC Asset Management Inc. He also served as the Chief Compliance Officer of CIBC Asset Management. Prior to that, he held a series of management positions at Merrill Lynch Investment Managers and SEI Investments.
Mr. Tan has a PhD in Operations Research from the University of Waterloo and an MBA from the MGD School of Business, McMaster University. He holds the Chartered Financial Analyst (CFA) designation, and is a registered Advisor – Portfolio Manager across Canada. He was a registered Commodity Trading Manager with OSC and also a representative with FINRA of United States (Series 7).
Christopher R. Thompson, CFA
Senior Vice President, Alpha Investment Research
cthompson@segalrc.com
Mr. Thompson is a Senior Vice President, Alpha Investment Research, in Segal Rogerscasey’s Darien office. He has over 20 years of experience in the investment industry, including over 14 years of investment manager research. The Alpha Investment Research Group is responsible for fundamental/quantitative manager research.
Mr. Thompson’s expertise includes broad market-related investment analysis/strategy and portfolio manager selection and monitoring. As the leader of the firm’s Global Equity manager research team, Mr. Thompson is responsible for asset class coverage and manager research on global developed equities (and all sub asset classes), emerging markets, environmental, social, and governance-based strategies (ESG) and currencies. He is directly involved in the design, implementation and monitoring of clients’ global equity investment programs.
Prior to joining Segal Rogerscasey, Mr. Thompson was a Vice President in Investment Research for Managers Investment Group. He was responsible for all aspects of manager search and selection and for monitoring external managers. He also gained analytical research experience at Regent Investor Services, a division of Alliance Capital Management, Morgan Stanley Dean Witter, and Dillon Read and Co., Inc.
Mr. Thompson graduated with a BA in Economics from Siena College. He holds the Chartered Financial Analyst (CFA) designation and is a member of the CFA Institute and the New York Society of Security Analysts.
Daniel Westerheide
Senior Vice President, ALM Practice Leader
dwesterheide@segalrc.com
Mr. Westerheide is a Senior Vice President in Segal Rogerscasey's Boston office with nearly 20 years of experience in pension consulting. He is the lead consultant for many clients, and is responsible for initiating projects to enhance the firm’s asset liability strategies and capabilities.
Mr. Westerheide specializes in asset liability strategies for defined benefit pension plans and is expert in capital markets theory and the application of capital markets modeling. As a leading practitioner in asset liability modeling (ALM), he has aided clients in implementing many cutting edge risk management techniques such as synthetic duration and dynamic asset allocation.
Mr. Westerheide is a member of several teams and units within the firm, including the capital markets research group, Segal’s Live Modeling Task Force, and the ALM Strategies and Techniques Training team.
Mr. Westerheide joined The Segal Company in 2006 when Irwin Tepper Associates, Inc. was acquired by The Segal Group. He was also previously employed by Towers Perrin.
Mr. Westerheide graduated from the University of Michigan with a BS in Actuarial Science. He has completed eight actuarial exams.
Roger S. Williams, CFA
Senior Vice President
rwilliams@segalrc.com
Mr. Williams is a Senior Vice President in Segal Rogerscasey’s Darien office and has nearly 30 years of experience in the investment industry. He leads the company’s defined contribution research efforts, assisting clients in the design of their 401(k) investment programs, identifying defined contribution service providers and giving fiduciary guidance in a changing regulatory environment. He also leads a team that provides consulting services to corporate and public pension plans, endowment funds and financial advisors. He works with clients to build the foundations for successful investment programs including a common understanding of the needs of the fund, a careful design of the investment structure and close attention to manager selection and monitoring.
Mr. Williams is a member of the firm’s Fiduciary Investment Review Committee, which provides oversight for our fully discretionary relationships, and the Defined Contribution Practices Committee, which develops the firm’s strategy and process for servicing our defined contribution clients.
Prior to joining Segal Rogerscasey, Mr. Williams worked at Olin Corporation as the Director of Pension Investments. He also held several positions at GTE Investment Management Corporation, the most recent being Senior Research Manager. Mr. Williams gained experience as Manager Pension Investments at Chesebrough-Ponds and Stauffer Chemical Company. He was an active member and past president of Pension Group East, a trade organization of pension plan, endowment and foundation sponsors.
Mr. Williams graduated with a BS in Finance from Bryant College and an MBA from Pace University. He holds the CFA Institute’s Chartered Financial Analyst (CFA) designation.
Vice Presidents and Consultants
Frank Carofano
Vice President, Director of Investment Operations and Technology
fcarofano@segalrc.com
Mr. Carofano is a Vice President and Director of Investment Operations and Technology in Segal Rogerscasey’s New York office. He has nearly 15 years of investment consulting experience and serves as lead consultant to several clients. Mr. Carofano is also responsible for managing firm infrastructure.
Prior to joining the firm, Mr. Carofano gained five years of experience working in the financial services industry at Mellon Financial. He also previously worked as a buy-side Research Analyst for the government of Singapore, for a mutual fund company, and on a currency trading desk at a multinational bank.
Mr. Carofano graduated from Hofstra University with a BA in Banking and Finance. He holds a Masters in Computer Information Systems (MCIS) from Boston University and is a credentialed Project Management Professional (PMP®).
Rafik Ghazarian
Vice President and Consultant
rghazarian@segalrc.com
Mr. Ghazarian is a Vice President in Segal Rogerscasey’s Boston office and has over 15 years of investment consulting experience. He consults to defined benefit, defined contribution and other types of investment program clients on the development of investment strategies, the selection of investment managers and the measurement and evaluation of investment performance. Mr. Ghazarian serves as lead consultant to several multiemployer, public and endowment plan sponsor clients.
Prior to joining Segal Rogerscasey, Mr. Ghazarian was a Project Manager for a major design and construction firm. He graduated from the University of Massachusetts with a BS in Mathematics and Computer Science. He received an MS in Finance from Boston College, Carroll Graduate School of Management.
Frank Picarelli
Vice President and Senior Consultant
fpicarelli@segalrc.com
Mr. Picarelli is a Vice President and Senior Consultant in Segal Rogerscasey’s New York office. He has more than 35 years of experience in all aspects of defined contribution consulting and plan administration from a banking, insurance, mutual fund and consulting firm’s perspective. Mr. Picarelli specializes in providing defined contribution plan consulting services and vendor evaluation/selection services to a diverse client base.
Prior to joining Segal Rogerscasey, Mr. Picarelli managed the installation/administration unit for a major financial institution providing daily participant recordkeeping and investment management services.
He has been quoted in numerous business and trade publications and is a graduate of Queens College, NY.
