Board of Trustees

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Dereck E. Davis
Chair

State Treasurer
Ex Officio member of the Board since December 17, 2021

  • Member, Administrative Committee
  • Member, Investment Committee

Treasurer Davis was born in Washington, D.C., and raised in Prince George’s County, Maryland. He attended the Prince George’s County Public School System and graduated from Central High School (1985) in Capitol Heights, Maryland. He continued his education at the University of Maryland at College Park, where he received his B.A. in Political Science (1989) and his Master’s in Public Policy (1999).

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Brooke Lierman
Vice-Chair

State Comptroller
Ex Officio member of the Board since January 16, 2023

  • Member, Corporate Governance and Securities Litigation Committee
  • Member, Investment Committee

As Maryland Comptroller, Brooke Lierman holds an ex officio seat on the Board of Trustees.

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Jamaal R. A. Craddock
Trustee since June 19, 2018

Term: August 1, 2021—July 31, 2025

  • Member, Administrative Committee
  • Member, Audit Committee

Jamaal R. A. Craddock, a ten-year veteran of the Department of Juvenile Services, was elected by active and retired members of the Employees’ Systems to represent their interests on the Board of Trustees.

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James P. Daly, Jr.
Trustee since September 11, 2020

Term: July 1, 2021—June 30, 2025

  • Vice-Chair, Investment Committee
  • Member, Corporate Governance and Securities Litigation Committee

James P. Daly, Jr., is a gubernatorial appointee to the Board.

Mr. Daly has been an active investor in Maryland based startup businesses and real estate for over 10 years. He also serves as Principal, Beckett Properties, LLC., a Maryland-based industrial real estate operating business.  

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Helene Grady
Secretary of Budget and Management

Ex Officio member of the Board since January 18, 2023

  • Member, Administrative Committee
  • Member, Corporate Governance and Securities Litigation Committee
  • Member, Investment Committee

As Secretary of the Department of Budget and Management, Helene Grady holds an ex officio seat on the Board of Trustees.

Profile

Sheila Hill
Trustee since August 1, 2015

Term: August 1, 2023—July 31, 2027

  • Vice-Chair, Corporate Governance and Securities Litigation Committee
  • Member, Investment Committee

Sheila Hill started her career as a state employee in 1987 with the Department of Public Safety and Correctional Services as a Correctional Officer. She served as president of AFSCME Local 1319 at the Patuxent Institution from 1997 until her retirement in 2012. Ms. Hill also served on the Executive Board of AFSCME Maryland and chaired the Maryland AFSCME Corrections Steering Committee. Throughout her career she represented employee concerns about compensation, staffing and benefits before the General Assembly.

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Michael J. Howard
Trustee since June 10, 2022

Term: July 1, 2019–June 30, 2023

  • Chair, Investment Committee
  • Vice-Chair, Audit Committee
  • Member, Corporate Governance and Securities Litigation Committee

Michael J. Howard, CPA, is a gubernatorial appointee to the Board.

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Richard E. Norman
Trustee since August 1, 2014

Term: August 1, 2022—July 31, 2026

  • Chair, Administrative Committee
  • Member, Audit Committee
  • Member, Investment Committee

Richard E. Norman retired at the rank of Captain from the Maryland State Police after 28 years of service. Mr. Norman joined the Maryland State Police in January 1977 and after graduation worked as a uniformed road patrol officer for two years. He then worked as a criminal investigator for the next 18 years specializing in narcotics, white collar crime and child abuse investigations. Mr. Norman also served as the Assistant Commander of the Rockville Barrack for three years. In 1994 he became a licensed Certified Public Accountant and was assigned to the Budget and Finance Section, overseeing the department’s budget. Mr. Norman spent approximately six years as the Commander of the Budget and Finance Section of the Maryland State Police.

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Douglas Prouty
Trustee since August 1, 2017

Term: August 1, 2021—July 31, 2025

  • Chair, Corporate Governance and Securities Litigation Committee
  • Member, Investment Committee

Douglas Prouty was elected by members and retirees of the Teachers’ Systems. An English teacher at Richard Montgomery High School in Rockville, Mr. Prouty has taught in Montgomery County Public Schools for more than two decades. In addition to serving as the county’s Career Lattice Coordinator he is an at-large member of the Board of Directors for the Maryland State Education Association. He also served as President of the Montgomery County Education Association from 2009 to 2015.

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Michelle RhodesBrown
Trustee since August 1, 2023

Term: August 1, 2023—July 31, 2027

  • Member, Corporate Governance and Securities Litigation Committee
  • Member, Investment Committee

Michelle RhodesBrown is a gubernatorial appointee to the Board of Trustees of the Maryland State Retirement and Pension System.

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Martin Noven
Executive Director of the Maryland State Retirement and Pension System

July 1, 2021—Present

Martin Noven is Executive Director of a multi-employer pension system that administers retirement, disability and death benefits for more than 400,000 active, vested and retired Maryland State and municipal government employees, teachers, state troopers, correctional officers, law enforcement officers, judges and legislators. In this role, he also oversees an investment fund valued at nearly $67 billion. Mr. Noven took office July 1, 2021.