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

Maureen Kelliher, Chair 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 30-year veteran of the wealth management and trust business, he has led the wealth management businesses for local community banks in New Hampshire since 2002. He is 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. He also serves on the boards of the New Hampshire Higher Education Loan Corporation and the 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®) and a CERTIFIED FINANCIAL PLANNER^TMprofessional. Brian serves on the finance committee for the Pope Memorial SPCA in Concord, NH. He lives in Hopkinton.
Christine Clinton-Catlin 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.
Michael McMahon Active NHRS Member \| Appointed: February 2020
Mike McMahon has been a member of Hampton Fire Rescue for over 25 years, rising to the rank of Chief. During this time, he has served in a variety of financial and investment roles. He has spent nearly 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.
Open Public Member \| Appointed:

Maureen Kelliher, Chair 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 30-year veteran of the wealth management and trust business, he has led the wealth management businesses for local community banks in New Hampshire since 2002. He is 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. He also serves on the boards of the New Hampshire Higher Education Loan Corporation and the 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®) and a CERTIFIED FINANCIAL PLANNER^TMprofessional. Brian serves on the finance committee for the Pope Memorial SPCA in Concord, NH. He lives in Hopkinton.
Christine Clinton-Catlin 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.
Michael McMahon Active NHRS Member \| Appointed: February 2020
Mike McMahon has been a member of Hampton Fire Rescue for over 25 years, rising to the rank of Chief. During this time, he has served in a variety of financial and investment roles. He has spent nearly 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.
Open Public Member \| Appointed:

Independent Investment Committee

IIC Members

Maureen Kelliher, Chair

Paul Provost

Brian Bickford

Christine Clinton-Catlin

Michael McMahon

Open