Archives: People
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Randy Lane
Randy joined NISA in 2011. He develops NISA’s proprietary financial modeling and engineering tools, assists with implementing customized strategies and supports NISA’s Strategic Portfolio Management team in maintaining hedge strategies, including completion portfolios and exposure management strategies. Randy earned a B.S. in finance from Southern Illinois University-Carbondale.
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David Murad, ASA, CERA, CFA
David manages the daily operations of NISA's Strategic Portfolio Management team in maintaining hedge strategies, including completion portfolios and exposure management strategies. He also oversees NISA’s liability analysis team in estimating liability interest rate exposure and supports the development of NISA’s proprietary financial modeling tools. David’s experience spans asset allocation, liability-driven investing and financial engineering,…
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Paul Oehrlein, CFA
Paul joined NISA in 2011. He researches, designs and implements customized investment solutions, spanning both hedging and return objectives. Paul also supports the Strategic Portfolio Management team and develops NISA’s proprietary financial modeling tools. His experience spans financial engineering, quantitative modeling and risk management with an emphasis on fixed income and derivatives strategies. Paul earned…
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Dan Scholz, CFA
With more than 25 years of investment experience, Dan develops custom strategies designed to meet client objectives and oversees the development and implementation of NISA’s proprietary financial modeling and engineering tools. He is also responsible for overseeing NISA's Strategic Portfolio Management team in maintaining hedge strategies, including completion portfolios and exposure management strategies. Dan’s experience…
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Kevin Shultz, CFA
Kevin leads the economic, market and portfolio-related client communications. He authors NISA’s economic overviews and assists with benchmark design and portfolio transitions to meet client objectives, and participates in NISA’s investment committee meetings. Prior to joining NISA in 2011, he worked at Edward Jones Investments and Group One Trading, LP. He was also an English…
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Alik Ulmasov, CFA
Alik was recruited through NISA’s internship program and joined NISA’s Investment Strategies Group in 2011. He oversees the team that develops NISA’s proprietary financial modeling and engineering tools. Alik also supports NISA’s Strategic Portfolio Management team, which maintains hedge strategies, including completion portfolios and exposure management strategies. He earned a BSBA in finance with a…
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Israel Acosta
Israel provides corporate bond credit research support to the Fixed Income and Derivatives Portfolio Management Group. Prior to joining NISA in 2015, he worked at Reams Asset Management in various areas, including credit research, corporate bond trading and portfolio management. Israel holds a B.S. in finance from Indiana State University and an MBA from Indiana…
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Mohan Balachandran, Ph.D.
Mohan leads the team responsible for signal research and generation, signal selection and weighting, and portfolio construction for the quantitative equity portfolios. He returned to NISA in 2025 after departing in 2008 to join the Teacher Retirement System of Texas, where he led the successful development and launch of its Multi-Asset Strategies Group. In addition,…
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Biswajit Bhattacharya, CFA
Biswajit oversees daily strategy implementation and monitoring in fixed income accounts, and analyzes the relative value of individual securities. He is authorized to trade fixed income securities. Prior to joining NISA in 2003, Biswajit worked as a senior financial analyst at Outsourcing Solutions Inc., where he was responsible for corporate financial analyses for three business…
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John Choe
John joined NISA in 2002. He leads the group that analyzes credit markets to develop models and produce signals used to optimize portfolio construction and systematic trades within credit portfolios. John is authorized to trade fixed income and derivative instruments. He earned an A.B. in economics from Washington University in St. Louis.