For Immediate Release
Wednesday, 6 September 2000
STATE TREASURER NAMES
MERRILL LYNCH’S KENNEMUR
First Woman Tapped for State Investment Panel
Columbia, SC – State Treasurer Grady L. Patterson, Jr., today announced he has appointed Mary M. Kennemur, First Vice President and District Director with Merrill Lynch & Co., to be his representative on the South Carolina Budget and Control Board Investment Panel. The Investment Panel makes recommendations to the Budget and Control Board regarding South Carolina’s $19 billion pension fund. Mrs. Kennemur will be the first woman to participate on the panel.
"I look forward to working with Mary on making our strong State Retirement System even stronger," Patterson said. "Mary is already a great asset to the State of South Carolina’s financial community, now she will be an invaluable asset to all of our citizens."
Patterson continued: "My office has long been a guardian of the South Carolina Retirement System. I feel like Mary’s presence on the Panel will ensure we have the best assessment and advisory group to work with when making our decisions. We found the best person for this position, and we’re proud she has agreed to serve."
"I think that we can help provide some steady guidance in a market that has been less than certain lately," Kennemur concluded. "I have twenty years of financial experience to draw upon. With more state funds being placed in equities each year, I will be conscientious in my judgements, and diligently work to provide common-sense solutions to Treasurer Patterson, and the Budget and Control Board."
Mary M. Kennemur will serve as the State Treasurer’s Appointment on the Investment Panel for a term of two years.
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For more information contact:
David A. Adams, 803/734-0380