Independent Investment Committee

The Independent Investment Committee (IIC) manages investments based on the investment policy and asset allocation approved by the Board of Trustees. The IIC continuously monitors and evaluates performance, and makes determinations regarding the hiring and retention of fund managers.

The IIC was established under RSA 100-A:14-b, on January 1, 2009. The IIC, as originally constituted, consisted of three public members and up to two representatives of the Board of Trustees; legislation enacted in 2019 added an active NHRS member to the IIC as a non-voting committee member. Public members and the active NHRS member are nominated by the Governor and must be approved by the Executive Council. Trustee members are appointed by the chairperson of the Board of Trustees. By law, all IIC members must have “substantial experience in the field of institutional investment or finance.”

IIC Members

Christine Clinton-Catlin, Chair Public Member | Appointed: January 2018

Christine Clinton has been working in the investment management industry for more than two decades after cofounding Bluestone Wealth Management LLC. Prior to Bluestone, she worked as a Corporate Controller for several high-tech start-ups in the communications, finance and biotech industries in the Boston area. Christine is a CPA as well as a Chartered Financial Analyst® (CFA) charterholder. She is a member of the CFA Institute and Boston Securities Analysts Society. She lives in Dublin.

Maureen Kelliher Trustee Member | Appointed: June 2014

Maureen Kelliher has more than four decades of investment management experience. She has served as co-chief and chief investment officer for trust and investment management firms as well as money desk manager for several banks. She holds the Chartered Financial Analyst® (CFA®) designation and is a member of the CFA Institute. She lives in Dover.

Paul Provost Trustee Member | Appointed: December 2022

Paul Provost is a thirty-year veteran of the wealth management and trust business, he led the wealth management businesses for local community banks in New Hampshire from 2002 to 2024 as the president of New Hampshire Trust Company (NHTrust), a subsidiary of New Hampshire Mutual Bancorp headquartered in Concord. Paul earned a bachelor’s degree from the University of Vermont and a master’s degree in Administrative Management from Saint Michael’s College. He is a Certified Financial Planner. Paul is the board chair of Granite Edvance and he also serves on the Investment Committee for Concord Hospital Trust. He previously served as a board chair for the NH Charitable Foundation, Capital Region, and the Central New Hampshire Boys & Girls Club. He lives in Concord.

Brian Bickford Public Member | Appointed: June 2023

Brian Bickford has over 30 years of investment management experience and has been managing money in New Hampshire for more than 25 years. He is a senior vice president and director of client portfolio management at Cambridge Trust. Brian earned a Bachelor of Science degree in Business Administration at the University of Maine and a Master of Science degree in Finance at Florida International University. He is a Chartered Financial Analyst® (CFA®), a CERTIFIED FINANCIAL PLANNERTMprofessional and a Chartered Market Technician® CMT®. Brian serves on the finance committee for the Pope Memorial SPCA in Concord, NH. He lives in Hopkinton.

Open Public Member | Appointed:

Michael McMahon Active NHRS Member | Appointed: February 2020

Mike McMahon has been a member of Hampton Fire Rescue for over 30 years, where he currently serves as Fire Chief. During this time, he has served in a variety of financial and investment roles. He has spent over two decades in credit union leadership and is currently a director at Service Credit Union. Mike was a member of the 2017 Decennial Retirement Commission and serves in many other community leadership roles.

IIC Public Materials

Some documents may contain redactions of "confidential, commercial, or financial information" as allowed under NH RSA 91-A: 5, IV.