Board and Leadership

George Walker has served for 14 years as Chairman and CEO of Neuberger Berman, a private, independent, employee-owned investment manager founded in 1939. The firm manages $443 billion of equities, fixed income, private equity and hedge fund portfolios for global institutions, advisors and individuals. With offices in 26 countries, Neuberger Berman has been named by Pensions & Investments as the #1 Best Place to Work in Money Management (firms with more than 1,000 employees) finishing either first or second each of the last nine years. In 2021, UNPRI named the firm a Leader, a designation awarded to fewer than 1% of investment firms for excellence in ESG practices. Previously, George spent 14 years at Goldman Sachs where he was a member of the firm’s Partnership Committee. George’s current board service includes the Partnership for New York City (Vice Chair) and the Trinity School. George earned a BA, BS and MBA from the University of Pennsylvania.

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Yie-Hsin Hung is the President & Chief Executive Officer of State Street Global Advisors (SSGA). Hung was named one of the 100 Most Influential Women in US Finance by Barron’s in both 2020 and 2021 and was named among the 25 Most Powerful Women in Finance by American Banker in 2021, the fifth consecutive year she has received this award. She currently serves on the Board of Trustees of Northwestern University, the Executive Committee and Board of Governors of the Investment Company Institute, and the Board of Directors of the Turtle Beach Corporation. Hung earned her MBA from Harvard University and BS in Mechanical Engineering from Northwestern University.

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Eric J. Pan is the President and Chief Executive Officer of the Investment Company Institute (ICI), the leading association representing the global asset management industry with offices in Washington DC, Brussels, and London. ICI’s mission is to strengthen the foundation of the asset management industry for the ultimate benefit of the long-term individual investor.

Mr. Pan also chairs The International Investment Funds Association, the body of national and regional associations representing investment funds in all parts of the world.   

Mr. Pan previously served as the Director of the Office of International Affairs at the US Commodity Futures Trading Commission and head of international regulatory policy at the US Securities and Exchange Commission. He represented both market regulators in international standard-setting bodies, including the International Organization of Securities Commissions (IOSCO) and Financial Stability Board (FSB), and in regulatory dialogues with European and Asian counterparts. He chaired several international committees and working groups. 

In addition to his government service, Mr. Pan was a Managing Director of Rock Creek Global Advisors LLC, a leading international economic advisory firm in Washington DC, and Director of the Heyman Center on Corporate Governance and professor at the Benjamin N. Cardozo School of Law in New York where he wrote extensively about financial regulation and corporate law. He began his career practicing corporate and international law with Covington & Burling in Washington DC.

Mr. Pan is an honors graduate of Harvard College, the University of Edinburgh, and the Harvard Law School. He is a member of the American Law Institute and an adjunct professor at Columbia Law School in New York where he also was a Senior Research Fellow at the Center for Law and Economic Studies. He serves on the Editorial Board of Oxford University Press’s Journal of Financial Regulation. His opinion pieces in recent years have appeared in The Financial Times, The Wall Street Journal, Le Monde, Les Echos, South China Morning Post and Risk.net.

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Rochelle (Shelly) Antoniewicz, Chief Economist, at the Investment Company Institute, conducts research on the structure and trends of the ETF and mutual fund industries and on financial markets in the US and globally. Shelly also contributes to analysis on financial systemic risks and conducts economic analysis on the impacts of proposed laws and regulations governing funds. Shelly has been with ICI since 2005, serving as senior economist, senior director of industry and financial analysis, and deputy chief economist. Prior to joining ICI, Shelly spent 13 years as a staff economist and senior economist at the Federal Reserve Board. She has a PhD in Economics from the University of Wisconsin, Madison. 

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Donald C. Auerbach is the Chief Operating Officer of the Investment Company Institute. As COO, he manages the Institute’s administrative functions, coordinates the committees of the Board of Governors, and serves as Treasurer of ICI PAC. Prior to becoming COO in 2019, he was Co-Head of the Institute’s Government Affairs department, representing the association on Capitol Hill and before several Administrations. Auerbach joined ICI after serving on the staff of the US House of Representatives, Committee on Financial Services and in the office of Congresswoman Carolyn Maloney. Prior to the Hill, he was a staff member at Federal Financial Analytics, a Washington consultancy. He holds a BA in history from UCLA, a JD from the American University’s Washington College of Law, and an MBA from the University of Virginia’s Darden Graduate School of Business Administration.

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Paul G. Cellupica is the General Counsel of the Investment Company Institute (ICI).  As the chief legal officer of ICI, he represents ICI on legal and regulatory matters and leads a talented legal team with extensive expertise in securities law and regulation, ERISA, tax law applicable to funds, and other disciplines. He has over 27 years of experience in securities law and related fields, including in a variety of senior legal leadership roles in both the public and private sectors. From 2018 to 2021 he served as Deputy Director and Chief Counsel of the Division of Investment Management at the US Securities and Exchange Commission, where his office was responsible for responding to requests for legal and policy guidance, evaluating applications for exemptive relief, and engaging with international regulators on matters related to asset management. Cellupica also was Executive Vice-President and Deputy General Counsel for US Regulatory matters at Pacific Investment Management Company (PIMCO); General Counsel for Securities Law at Teachers Insurance and Annuity Association of America (TIAA); and Chief Counsel for the Americas at MetLife, Inc. He is a graduate of Harvard College and Harvard Law School and was a law clerk at the US Court of Appeals for the Sixth Circuit.

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John Emling is Chief Government Affairs Officer of the Investment Company Institute. He leads the Institute’s outreach to Congress and other policymakers on financial services, tax, pension, and other issues affecting regulated funds and their more than 100 million investors. He brings nearly 30 years of government affairs experience to this position, having served in the White House, at the US Department of the Treasury, on Capitol Hill, and in the private sector. Most recently, he served as head of government affairs for Broadcom Inc., where he built their government affairs practice, expanded their legislative and regulatory advocacy, and acted as executive director of Broadcom PAC. From 2011 to 2018, he was managing director for federal government affairs at Citi where he significantly contributed to bipartisan legislative changes in the Dodd-Frank Wall Street Reform and Consumer Protection. Before Citi, he held leadership positions at the Glover Park Group and Retail Industry Leaders Association. Leading up to and during the 2008 global financial crisis, Emling was deputy assistant and a special assistant to President George W. Bush in the White House Office of Legislative Affairs. Emling also was appointed to the post of deputy assistant secretary for legislative affairs at the Treasury Department in the Bush administration, where he focused on various issues, including tax reform, budget, and pension matters. Earlier in his career, Emling worked on Capitol Hill as chief of staff to former Representative Eric Cantor, and he served at the Senate Republican Policy Committee. Emling graduated from Villanova University with a BA in political science and government.

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Jill is a human resources professional with over 20 years of experience. She leads the human resources team that creates and leads employee engagement initiatives, implements talent management strategies to recruit and retain top talent, designs and administers organizational benefits, and promotes mental and physical wellness initiatives. Before joining ICI, she worked as Chief People Officer at the Municipal Securities Rulemaking Board where she planned, developed, and directed all aspects of the human resources function. Her areas of expertise include coaching and counseling, facilitation, managing change and delivering presentations on interpersonal skills. Jill is passionate about the people who bring organizations to life. Jill received a bachelor’s degree from Slippery Rock University. She is a member of the Society of Human Resources and HR Certification Institute. Her certifications include Professional in Human Resources (PHR) and SHRM Certified Professional (SHRM-CP).

Thomas T. Kim is Managing Director of the Independent Directors Council. In leading IDC, Kim advances the governance, education, communications, and public policy priorities of independent directors on the boards of mutual funds, exchange-traded funds, closed-end funds, and other regulated investment companies. Before joining IDC, he served as senior vice president at the Mortgage Bankers Association, where he led strategy, public policy, governance, and member engagement across the organization’s commercial real estate finance membership. Previously, he managed regulatory and policy matters affecting capital markets and mortgage investments as associate general counsel at Freddie Mac. Earlier in his career, Kim worked as an attorney at the Investment Company Institute. He received his BA, summa cum laude, from the University of California, Irvine; JD from the UCLA School of Law, where he served as a law review editor; and LLM, with distinction, from Georgetown Law School. 

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Jeff Naylor is the Investment Company Institute's Chief Industry Operations Officer. Naylor is responsible for ICI support of members’ technology, cybersecurity, fund accounting and reporting, securities operation, fund distribution and shareholder service functions. He and his colleagues focus on convening members to identify optimal practices for regulatory compliance, achieving operational excellence, all while supporting and protecting individual investors. While at ICI, he has led industry operations implementation activities for various SEC, CFTC, and DOL rulemakings and currently leads ICI efforts addressing market disruption and intermediary oversight. Since March 2023, Naylor has directed ICI’s co-leadership (with SIFMA and DTCC) of the industry’s move to T+1 settlement. Naylor has a diverse background in fund operations and distribution, including systems development, sales, operations, and product management. Prior to ICI, he worked with full-service mutual fund transfer agent DST Systems, Inc. (now SS&C) and financial systems provider SunGard (now FIS). He holds an MBA from the University of Kansas and undergraduate degrees in business administration and psychology from Graceland University.

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Erica Elliott Richardson is Chief Strategic Communications Officer of the Investment Company Institute. Before joining ICI, Richardson served as a managing director at FTI Consulting, where she led the financial services public affairs practice. Previously, Richardson served as the director of the Office of Public Affairs at the Commodity Futures Trading Commission (CFTC), where she was responsible for strategic communications and brand management. Richardson began her career in Washington on Capitol Hill as a communications director with the House Financial Services Committee during the 2007–2009 financial crisis and Dodd-Frank legislative process, prior to serving as the top spokesperson for the Office of the Majority Whip in the House of Representatives. Richardson holds bachelor’s and master’s degrees from Auburn University and a doctorate in law and policy from Northeastern University; she wrote her doctoral thesis on the potential legislative and regulatory frameworks for virtual currency in the United States.

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Tracey Wingate is the Chief Global Affairs Officer at ICI, where she oversees all aspects of ICI’s international policy and regulatory engagement. She began her career at ICI as Chief of Staff to ICI President and CEO Eric J. Pan. With more than 16 years of experience as a financial regulator, she has a long track record of successfully addressing complex regulatory challenges. Before joining ICI, Wingate served as associate director of the Office of International Affairs (OIA) at the US Commodity Futures Trading Commission (CFTC), leading the CFTC’s international engagements and providing strategic advice and counsel to the CFTC chair and commissioners on an array of complex domestic and international policy initiatives. In this capacity, Wingate helped lead the successful negotiations on cross-border equivalence for US central counterparties. For her work at the CFTC, she was awarded the Chairman’s award for outstanding service. Previously, she served as special counsel in the CFTC’s Division of Clearing and Risk and as a senior trial attorney in the Division of Enforcement. She began her legal career at Arnold & Porter LLC in Washington, DC. Wingate is a graduate of the University of Virginia and Tulane University School of Law.