As a committee of the Mercy Investment Services Board of Directors, the Investment Committee is responsible for implementing the investment policy adopted by the Board. This responsibility includes approving investment objectives and strategy; selecting the funds offered to participants; engaging, retaining and replacing Investment Advisers, the Investment Consultant, and the Custodian; regularly monitoring fund performance; and ensures that the Investment Advisers comply with the investment policies and fund objectives.
The Investment Committee includes members of the Sisters of Mercy, chief financial officers of several Sisters of Mercy Communities and others with backgrounds in such areas as ethics, social justice and institutional investing.
Arthur Borduas (Chairperson)
Jesse Bean
Suzanne Elliott, RSM
Sheila Hartnett-Devlin
Patricia Mary Hespelein, RSM
Michelle Maidt
James Peppiatt-Combes
Edward Rodgers
Michael Rohs
Jesse J. Bean served as vice president, treasury services for Catholic Healthcare West until his retirement in 2007. Previously, Jesse served as corporate treasurer and director of investor relations for System Industries, Inc., a publicly held technology firm. Jesse holds an AB from Occidental College and a MBA from Saint Mary’s College. He currently serves on a number of boards and/or their committees including the Board of Trustees of Catholic Charities USA; Investment Committee of Catholic Health Initiatives; Finance Board for the Adrian Dominican Sisters; and Consulting Board for the Good Steward Investment Fund.
Arthur J. Borduas, CFA, is vice president of R.M. Davis, Inc., a Portland, Maine, registered investment adviser overseeing $2 billion of assets on behalf of individuals, nonprofits and corporations. Art’s professional career spans 40 years. Prior to joining his current firm in 1986, Art held leadership positions in investment research and portfolio management with Union Mutual Life Insurance Co. (now Unum) and was trust investment officer for Maine National Bank. Art is a graduate of Boston College and a Chartered Financial Analyst. He has served on many community boards, including St. Joseph’s College of Maine, the Catholic Foundation of Maine, the Investment Advisory Committee of the Maine State Public Employees Retirement System and the Diocese of Portland Finance Council.
Suzanne Elliott, RSM, is special assistant to the president for mission and planning at Georgian Court University in Lakewood, New Jersey. In this position she serves on the president’s administrative team and is responsible for the oversight of mission-related services, human resources, information technology, and the implementation of strategic planning. Sr. Suzanne also spent more than 14 years in community leadership. She is a past member of the Institute Finance Committee and the Institute Search Committee for the Institute chief financial officer and chief investment officer.
Sheila Hartnett-Devlin, CFA, joined American Century Investments as client portfolio manager and vice president in December 2008. Her previous experience includes 3 years as managing director and senior portfolio manager for Cohen Klingenstein & Marks, a U.S.-based investment management firm specializing in large and small/mid cap U.S. growth mandates for institutional and high net worth clients. Prior to that, Sheila spent 25 years at Fiduciary Trust Company International in New York, most recently as executive vice president and global equity investment manager. She also chaired the firm's Global Investment Committee and was the chief global equity strategist. Sheila is a CFA charterholder and a member of the New York Society of Security Analysts. In addition, she serves on the boards of South Jersey Industries, Mannington Mills and Mercy Investment Program.
Patricia Mary Heseplein, RSM, at the time of her retirement in 2009, held the position of vice president for mission integration at UPMC Mercy. She holds a bachelor’s degree in education from Carlow University and a master’s degree in business administration from the University of Notre Dame. Over a span of 53 years, Sr. Patricia Mary worked in education, finance and administration for various organizations. For 13 years she served in the leadership of the Sisters of Mercy, as vice president and then as president of the Pittsburgh Sisters of Mercy. Sr. Patricia Mary currently serves in volunteer ministry in Pittsburgh. She continues to serve on the board of directors of Carlow University, McAuley Ministries, and Holy Cross Hospital in Florida.
Michelle A. Maidt, CFA, is the principal and chief investment officer of Carnegie Capital Advisors, a wealth management firm in Charlotte, North Carolina, which she co-founded in 1997. Prior to that, Michelle was a vice president at Royal Sun Alliance Insurance. Her experience includes fixed income management, head of equities, asset liability management and portfolio strategist. Michelle has a bachelor of science degree in accounting from Brooklyn College, CUNY and a master’s in business administration from Rutgers University. Michelle serves as a board member of several organizations in her community including the Sisters of Mercy of North Carolina Foundation and WFAE, an affiliate of National Public Radio.
James Peppiatt-Combes has more than 40 years of financial, administrative, operating and engineering experience in a variety of industries including health care and technology. He has worked at Trinity Health (Mercy Health Services) since 1988, first as chief financial officer and, since 2005, as chief development officer. James holds a bachelor’s degree in industrial engineering from Illinois Institute of Technology and a master of business administration degree from Harvard Business School. He has extensive experience on the boards and committees of several nonprofit organizations throughout the United States and Ireland.
Edward J. Rodgers is partner with Merion Investment Partners, LP. Previously, Edward was managing director at Wachovia Securities – Co-Head, Defense & Aerospace sector; and Head Mid-Atlantic Corporate Banking. During his 40-year career as an EVP at First Fidelity Bank & First Union, he managed specialty lending groups that include communications, healthcare, and financial institutions. He is a director of Mercy Health System of Pennsylvania, a former member of the Audit Committee of Catholic Health East, a former member of the Investment Committee of Catholic Health East and a former director of Elder Trust Healthcare, a publically-held REIT. Edward holds a bachelor’s degree from La Salle College.
Michael Rohs, CFA, joined Sena Weller Rohs Williams, LLC as a partner in 1968. He graduated from Xavier University, Cincinnati, Ohio in 1960 with a bachelor’s degree in economics and political science. Mike is a member of the Cincinnati Society of Financial Analysts, CFA Institute and the National Association of Business Economists. He has served on the boards of numerous civic and nonprofit organizations including Catholic Healthcare Partners, Inc., and as chairman of the Finance Committee of Mercy Health Care System.
