Investor Advisory Group Members

Mary M. Bersot

CEO and Chief Investment Officer
Bersot Capital Management LLC
Larkspur, CA

Mary M. Bersot is CEO and Chief Investment Officer for Bersot Capital Management LLC, which she founded in 2006. Bersot Capital Management provides investment management services to individuals, families, foundations and endowments. Prior to that, she was a Managing Director and Co-Chief Investment Advisor of the Large Cap Team at Dresdner RCM (f/k/a Rosenberg Capital Management), managed stock portfolios for Taft Hartley Pension and Health and Welfare plans at McMorgan & Company, and served as part of Citicorp Trust of California's global private bank. She started her career at Wells Fargo Bank where she managed investments for some of the bank's largest and most complex family trusts.

Curtis L. Buser

Managing Director and Chief Financial Officer
The Carlyle Group
Washington, DC

Curtis L. Buser is the Chief Financial Officer and a Managing Director at The Carlyle Group where he is responsible for the financial reporting for the firm and its funds. Prior to joining The Carlyle Group, he spent 19 years in public accounting, working for two years as an audit partner with Ernst & Young, LLP, and 17 years at Arthur Andersen, LLP. Formerly, he served on the Financial Accounting Standards Board’s Advisory Council.

T. Grant Callery

Oversight and Governance Solutions, LLC
Bethesda, MD

Grant Callery is a Principal at Oversight and Governance Solutions, LLC. He formerly was Executive Vice President and General Counsel at the Financial Industry Regulatory Authority (FINRA) where he served as the principal advisor to FINRA’s Board of Governance and executive management on corporate and governance matters. He is a member of the Board of Trustees for Marietta College, serves on the Council of Board Chairs, an advisory group to the Association of Governing Boards of Universities and Colleges, and is on the board of the FINRA Investor Education Foundation.

Joseph V. Carcello

Emeritus Professor, Emeritus Director of the Neel Corporate Governance Center, Department of Accounting and Information Management
University of Tennessee
Knoxvlle, TN

Joseph V. Carcello is the Emeritus Professor of accounting at the University of Tennessee, and the Cofounder and Emeritus Director of the University of Tennessee's C. Warren Neel Corporate Governance Center. He received the Bank of America Leadership award in 2014, The Tennessee Society of CPAs Distingished Achievement in Accounting Education award in 2010, the UT National Alumni Association Outstanding Teacher award in 2009, and Beta Alpha Psi's Business Professional of the Year award in 2008. He is a past recipient of the Robert Beyer Gold Medal for his performance on the Certified Management Accountant examination. He was named by Business Week s a "prominent faculty" in its ranking of undergraduate business programs, and as one of the "most influential" individuals in accounting and finance by Business Finance magazine for four consecutive years, the only academic to be so recognized. 

Dr. Carcello has performed extensive research on corporate governance, primarily related to audit committees, and has consulted with, and provided training to, corporate audit committees. He also has served as an expert in judicial proceedings to evaluate required corporate governance reforms at public companies. He co-authored a study that was sponsored by the Committee of Sponsoring Organizations (COSO) on fraudulent financial reporting in the United States between 1987 and 1997, and was a member of the team that conducted a COSO-sponsored study of fraud from 1998 through 2007. Dr. Carcello testified before the U.S. Treasury Department's Advisory Committee on the Auditing Profession, and has served as a member of the PCAOB Standing Advisory Group, which advises the board on standard-setting activities. He is a certified public accountant, certified management accountant and certified internal auditor.

Kevin G. Chavers

Managing Director
New York, NY

Kevin G. Chavers is Managing Director and a member of BlackRock's Government Relations and Public Policy Group. He previously served on the Financial Markets Advisory Group within BlackRock Solutions. Before joining BlackRock, Mr. Chavers was a Managing Director at Morgan Stanley, where he served as Senior Relationship Manager and headed the global mortgage operating businesses, and served as Vice President in the Mortgage Securities Department at Goldman Sachs & Co. Mr. Chavers formerly served as President of Ginnie Mae in the Clinton Administration and as Majority Staff Counsel to the United States Senate Committee on Banking, Housing and Urban Affairs. He began his career with the law firm of Milbank, Tweed Hadley and McCloy in New York.

Linda de Beer

Former Chair of the Consultative Advisory Group (CAG) of the International Auditing and Assurance Standards Board (IAASB); Non-Executive Director, Independent Reporting and Corporate Governance Advisor, and Visiting Professor, School of Accountancy
University of Witwatersrand
Johannesburg, South Africa

Linda de Beer serves as a non-executive director on the board of three companies listed on the Johannesburg Stock Exchange (JSE) and has been serving on listed company boards for the past nine years. She typically chairs the audit committees but also has experience on other board committees, including remuneration, nomination, risk, IT and investment oversight. She has also been a Deputy Chair and a lead independent director of listed company boards; she is the chair of a private treasury company of a listed company board.

Professor de Beer is the immediate past Chair of the IAASB Consultative Advisory Group. She provides reporting and corporate governance advice to various corporations, chairs the Financial Reporting Investigations Panel of the JSE, is a member of the Quality Control Assessment Committee of the Auditor-General of South Africa and an honorary professor (professor in practice) at the University of Johannesburg.  She previously held, for 10 years, a part-time adjunct professorship at the University of the Witwatersrand.  She has recently published a book, coauthored with Mervyn King, on the future of the auditing profession, entitled, "The Auditor:  Quo Vadis?" She is a chartered accountant SA, a chartered director SA, and holds a master’s degree in taxation.  

Sarah Deans

Managing Director – Accounting and Valuation
Exane BNP Paribas
London, United Kingdom

Sarah Deans is Managing Director of Exane BNP Paribas' accounting and valuation research department. Prior to joining Exane BNP Paribas, she served as Managing Director of Citigroup's European and Middle East equity research department and head of the accounting and valuation research department, which published research for investors on a variety of accounting, audit, and tax related matters. Ms. Deans previously served as an executive director of JP Morgan's European equity research department and a director of Lehman Brothers' European equity research department. Ms. Deans began her career with Coopers & Lybrand (now PricewaterhouseCoopers LLP) in London.

Dr. Parveen P. Gupta

Department Chair and Clayton Distinguished Professor of Accounting, Department of Accounting, College of Business and Economics
Lehigh University
Bethlehem, PA

Dr. Parveen P. Gupta is the Clayton Distinguished Professor of Accounting and the former Chair of the Accounting Department at Lehigh University. Dr. Gupta previously served as an Academic Accounting Fellow in the Division of Corporation Finance at the Securities and Exchange Commission. He has written extensively on the areas of corporate governance, disclosure regulation, audit and financial reporting quality, Sarbanes-Oxley and internal controls, internal auditing, board risk oversight and enterprise risk management. Dr. Gupta began his career as a staff auditor with Walker, Chandiok & Company (now Grant Thornton LLP) in Delhi, India.

Norman J. Harrison

Managing Director
Duff & Phelps LLC
Washington, DC

Norman J. Harrison is Managing Director of Duff & Phelps in Washington. He provides counsel to investment fund managers on a wide range of operations, compliance and litigation support matters. He also advises companies on matters relating to internal investigations; compliance monitoring; corporate governance; SEC and other regulatory enforcement matters; design and evaluation of compliance programs; enterprise risk assessments; and SEC and DOJ settlement fund administration. Mr. Harrison has more than 25 years' experience in these and related areas. Before joining Duff & Phelps, Mr. Harrison was a senior managing director of FTI Consulting Inc., and previously a senior managing director of Richard C. Breeden & Co. and Breeden Capital Management LLC. Earlier in his career, Mr. Harrison was an investment banker with Stephens Inc. and Alex. Brown & Sons, and also was a member of the corporate investigative practice group at Paul, Weiss, Rifkind, Wharton & Garrison LLP. Mr. Harrison has also taught corporation law as an adjunct professor at the Washington College of Law at American University.

Michael J. Head

Texas A&M University
College Station, TX

Michael J. Head currently serves as a lecturer at Texas A&M University. Previously, he served as Special Faculty of Accounting in the Accounting Department of Creighton University's Heider College of Business. Prior to joining Creighton University, he served as the Managing Director of Corporate Audit at TD AMERITRADE Holding Corporation. Mr. Head also advised TD AMERITRADE's Corporate Risk Management Steering Committee and supporting subcommittees on governance, risk, and control issues, including the Global Information Protection Program Oversight Committee and Brokerage Risk Committee. Mr. Head has 29 years of experience in audit, finance, and accounting and has worked in various audit and accounting capacities at PricewaterhouseCoopers LLP, KPMG LLP, The Guarantee Life Companies Inc., NationsBank, FirsTier Financial, Inc., and Standard Havens, Inc. He has served as Director of The Institute of Internal Auditors, serving on and chairing the International Board's Audit Committee. Mr. Head is co-author of the 2007 textbook, "Internal Auditing: Assurance and Consulting Services," published by The Institute of Internal Auditors Research Foundation. He is a certified internal auditor, certified public accountant, certified management accountant, chartered bank auditor, and a certified information systems auditor. 

Amy McGarrity

Chief Investment Officer
Colorado Public Employees' Retirement Association
Denver, CO

Amy McGarrity is the Chief Investment Officer of the Colorado Public Employees' Retirement Association (Colorado PERA) where she manages the risk, compliance, performance, and investment operations of the association's $44.2 billion portfolio. Previously, she was a global equity product specialist at William Blair. Before joining William Blair, Ms. McGarrity was Deputy Chief Investment Officer of Colorado PERA, where she also served as a global equity analyst and co-portfolio manager for the association's internally-managed active global portfolio. Earlier, she was the Chief Investment Officer for the Denver Public Schools Retirement System. Ms. McGarrity also has held investment positions at Buck Consultants, Prima Capital Holding, William M. Mercer Investment Consulting, and Caxton Corporation. She is a CFA charterholder and a member of the CFA Institute and the CFA Society of Colorado.

Peter H. Nachtwey

Chief Financial Officer
Legg Mason, Inc.
Baltimore, MD

Peter H. Nachtwey is Chief Financial Officer at Legg Mason, Inc. and a member of the firm's Executive Committee. He is responsible for the areas of finance, investor relations, and corporate communications. Previously, he was Chief Financial Officer and member of the Operating Committee of The Carlyle Group where he had responsibility for the firm's investor reporting, internal controls and financial management. Prior to joining Carlyle, Mr. Nachtwey was a partner at Deloitte & Touche, and served as the Northeast Regional Managing Partner for the investment management industry.

Lawrence M. Shover

Co-Founder and Chief Investment Officer
Solutions Funds Group
Lincolnshire, IL

Lawrence Shover is the Chief Investment Officer and Co-Founder of Solutions Funds Group, a mutual fund providing investors with institutional grade exposure to alternative investments. He has over 25 years of experience as a commodity, equity, currency and derivative trader. He has served as president, CEO, senior vice president of trading, and senior advisor at several commodity and option firms, as well as hedge funds. Mr. Shover recently completed the second edition to his 2010 book, "Trading Options in Turbulent Markets" (Wiley). He appears regularly as market commentator and expert on CNBC, Bloomberg Television, Fox Business and others.

Damon A. Silvers

Director of Policy and Special Counsel
Washington, DC

Damon A. Silvers is the Director of Policy and Special Counsel for the AFL-CIO. Mr. Silvers also serves on a pro bono basis as a Special Assistant Attorney General for the state of New York and is a Senior Fellow for the Roosevelt Institute. He also served as the Deputy Chair of the Congressional Oversight Panel for The Troubled Asset Relief Program until 2011. Previously, he served as the Chair of the Competition Subcommittee of the U.S. Treasury Department's Advisory Committee on the Auditing Profession and as a member of the U.S. Treasury Department's Investor's Practice Committee of the President's Working Group on Financial Markets. Prior to working for the AFL-CIO, Mr. Silvers was a law clerk at the Delaware Court of Chancery for Chancellor William T. Allen and Vice-Chancellor Bernard Balilk. Currently, Mr. Silvers is a member of the Investor Advisory Committee of the Securities and Exchange Commission and the PCAOB Standing Advisory Group, which advises the Board on standard-setting activities.

Anne Simpson

Investment Director, Global Governance
California Public Employees' Retirement System (CalPERS)
Sacramento, CA

Anne Simpson is Investment Director, Global Governance, at the California Public Employees' Retirement System (CalPERS), where she is responsible for CalPERS' corporate engagements, proxy voting, legal and regulatory advocacy, and sustainable investment work. Previously, she was the first Executive Director of the International Corporate Governance Network, founded to raise standards of corporate governance worldwide. Earlier, she was head of the Global Corporate Governance Forum at the World Bank, and, for 10 years, was joint Managing Director of PIRC Ltd, a U.K.-based investment firm advising institutional investors. Ms. Simpson has served as a Senior Faculty Fellow at the Yale School of Management. Ms. Simpson is author of "The Greening of Global Investment," published byThe Economistand co-author of "Fair Shares: the Future of Shareholder Power and Responsibility," published by Oxford University Press.

Michael A. Smart

Co-Founder and Co-Managing Partner
CSW Private Equity
New York, NY

Mr. Smart is Co-Founder and Co-Managing Partner of CSW Private Equity, which focuses on investing in leverage buyouts, recapitalizations and growth capital in consumer and general industrial lower-middle market companies. Mr. Smart is responsible for managing and allocating firm resources, sourcing, structuring, negotiating, investing and monitoring portfolio company investments as well as investor relations. Prior to finding CSW Private Equity, Mr. Smart was a Principal with First Atlantic Capital Ltd., a Managing Director of Investment Banking – Private Equity Groups at Merrill Lynch & Co., and a Partner at The Carpediem Group. Mr. Smart serves on the Board of Directors of the Advent Claymore (Guggenheim Capital) Family of Preferred Stock and High Yield Debt Closed End Funds and is a member of the Audit and Governance Committee. Mr. Smart serves as Vice Chairman of the National Association of Investment Companies.

Tony Sondhi

A.C. Sondhi & Associates, LLC
Maplewood, NJ

Tony Sondhi is President of A.C. Sondhi & Associates, LLC, a financial advisory services company. He also serves on the Emerging Issues Task Force of the Financial Accounting Standards Board (FASB), and Chairs the Corporate Disclosure Policy Council of the CFA Institute. Previously, he was on the Global Financial Reporting Advocacy Committee and the Financial Accounting Policy Committee of the CFA Institute; the Accounting Standards Executive Committee (AcSEC) of the American Institute of Certified Public Accountants (AICPA); the FASB Task Force on Accounting for Impairments of Long-Lived Assets; and the Statement of Cash Flows Steering Committee of the International Accounting Standards Committee. Mr. Sondhi also was an adviser to the FASB on the comparison between U.S. and International Financial Reporting Standards. He is co-author of the 2006 to 2009 editions of the CCH "Revenue Recognition Guide," and "The Analysis and Use of Financial Statements," third edition.

Judge Stanley Sporkin

Washington, DC

JudgeStanley Sporkin is a former U.S. District Judge for the District of Columbia. He retired in 2001. Judge Sporkin began working for the U.S. Securities and Exchange Commission in 1961, and served as Director of the Division of Enforcement from 1974 to 1981. Later, he was General Counsel of the Central Intelligence Agency, and a partner at Weil, Gotshal & Manges LLP. Currently, Judge Sporkin serves as Ombudsman for British Petroleum North America. He also provides mediation and arbitration services. In addition, Judge Sporkin provides counseling services on regulatory and financial matters.

Robert M. Tarola

Right Advisory LLC
Washington, DC

Robert M. Tarola is President of Right Advisory LLC and serves on the Board of Directors and audit committee of Legg Mason's Mutual Funds and NYSE-listed Vista Outdoor. Previously, he chaired the audit committee of NASDAQ-listed company, TTEC, and was the Chief Financial Officer of the NYSE-listed companies, W. R. Grace & Co., and MedStar Health, Inc., where he was responsible for all financial functions and investor relations. Mr. Tarola spent 22 years at Price Waterhouse LLP (now PricewaterhouseCoopers LLP), where he was Regional Managing Partner for a strategic industry segment, a Partner in the National SEC Services Group, and an Engagement Partner for major client accounts. Mr. Tarola served on the PCAOB Standing Advisory Group from 2007 to 2008. He is a certified public accountant, a chartered global management accountant, and a former member of the governing council of the American Institute of CPAs.

Lynn E. Turner

Managing Director, LitiNomics and former SEC Chief Accountant
Denver, CO

Lynn E. Turner has served on the Board of Trustees of mutual funds. He was appointed by governors to the board of the State of Colorado public pension fund. He has served on the boards and audit committees of public companies.  He served as the Chief Accountant at the U.S. Securities and Exchange Commission (SEC) from 1998 to 2001. After leaving the SEC, he was a Professor of Accounting and Director of The Center for Quality Financial Reporting at Colorado State University, Managing Director of Research at Glass Lewis & Co., and Senior Advisor with Kroll Zolfo Copper, the financial consulting subsidiary of Kroll, Inc. He also worked as Senior Advisor and Managing Director in the forensic accounting practice of LECG, an expert services and consulting firm. Currently, he is a Managing Director at LitiNomics, a firm that provides expert research, valuations, analyses, and testimony in complex commercial litigations. Prior to his tenure at the SEC, Mr. Turner spent 20 years at Coopers & Lybrand LLP (now PriceWaterhouseCoopers LLP) where he was a National SEC Review Partner and head of the National High Technology Audit Practice. Mr. Turner also served as a member of the U.S. Treasury Department's Advisory Committee on the Auditing Profession. He served as a member of the Investor Technical Advisory Committee of the Financial Accounting Standards Board (FASB), and is a former member of the PCAOB Standing Advisory Group, which advises the Board on standard-setting activities.

Gary G. Walsh

Principal and Portfolio Manager
Luther King Capital Management
Fort Worth, TX

Gary G. Walsh is a Principal and Portfolio Manager at Luther King Capital Management, an investment counseling firm with $15 billion under management. Prior to joining LKCM, Mr. Walsh was an adjunct professor at Texas Christian University, where he taught securities analysis. Mr. Walsh began his career working for Arthur Andersen & Co.and later for The Dexter Corporation in the corporate finance and internal audit. He is a certified public accountant and a certified financial analyst.