Spotlight on AIM Alumni

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mark santeroThe National Rural Electric Cooperative Association (NRECA) has selected Mark Santero to serve as president and CEO of the association’s investment management subsidiary, RE Advisers. Mark was also voted CEO of Homestead Funds, the mutual fund company created by NRECA, by the Homestead Funds’ board of directors and appointed to serve on that board.

My new role is a truly unique opportunity.

Mark Santero

Mark brings more than 30 years of experience in investment management to RE Advisers. Most recently, he was the CEO at Dreyfus Corporation, a subsidiary of BNY Mellon Investment Management. He also has served as chief operating officer at BNY. Mark joined AIM in 1991 when he joined the Institutional Group working for Abbot Sprague. Initially, Mark worked in North Carolina at the NCNB's offices on behalf of AIM Distributors. Mark helped run the funds for AIM and prospected the New York and Boston areas one week a month.

In 1994, Mark moved his family to Houston to assume the sales manager position. “When we got off the plane Bruce, Kathy and Ann were there waiting for me and my family and welcoming us. The relationships I made at AIM remain strong. We still try to get together, and Neal named our get togethers TGIF – Thank God for Institution Friends. We always mix in golf, as that is a bond that ties us together. We also love telling old stories. For my first meeting with the group, we met for strategic planning at a bungalow in The Woodlands. I had just joined the firm and did not know anyone. I walk in and find out I am sharing a room. That night, I go out to the living room intending to sleep on the couch as my room-mate was snoring. Neal was already on the couch, having found that his roommate also snored. I remember I did not get very much sleep on that trip, and there I was trying to make a good impression,” recalls Mark.

institutional groupThe Institutional Group reunited in 2016: Mark, Bill, Abbott, Bill, Neal, Pat and Bruce


RE Advisers has tremendous potential to help rural electric cooperatives and their employees by providing exceptional money management at an affordable cost.

Mark Santero

Mark credits Ted Bauer and Bob Graham for his successes. “Besides my Dad, the most influential person in my life was Ted,” said Mark. “Just watching and being around Ted influenced my own development. Second was watching Bob’s style. I attribute a lot of my success to emulating those two. Ted wrote the book, People are the Product, and we lived it every day.”

“My new role is a truly unique opportunity,” said Mark. “RE Advisers has tremendous potential to help rural electric cooperatives and their employees by providing exceptional money management at an affordable cost. I’m excited to be a part of that mission.”

 “Mark brings exceptional vision and leadership to this position,” said NRECA CEO Jim Matheson. “His extensive experience and understanding of investor needs will help position the business for future growth and success. Providing access to top-quality financial products and trusted money managers is an important part of NRECA’s service to members.”

I credit Ted Bauer and Bob Graham for my successes. Just watching and being around Ted influenced my own development. Second was watching Bob’s style. Ted wrote the book, People are the Product, and we lived it every day.

Mark Santero

The National Rural Electric Cooperative Association is the national trade association representing more than 900 local electric cooperatives. From growing suburbs to remote farming communities, electric co-ops serve as engines of economic development for 42 million Americans across 56 percent of the nation’s landscape. As local businesses built by the consumers they serve, electric cooperatives have meaningful ties to rural America and invest $12 billion annually in their communities.

RE Advisers, a subsidiary of NRECA, directs $10.3 billion in assets as of March 31, 2018. Based in Arlington, Virginia, the company manages stocks, bonds and mutual funds for a wide range of clients, including investors in the Homestead mutual funds, institutions, pension plans and a model portfolio program sponsor. Homestead Funds are distributed by RE Investment Corporation.


tn0 4c63570dbd368 gif 200300 Herman Walter Kluge passed away June 2, 2018. Herman’s family and friends held a memorial celebration of his life on Saturday, June 16, 2018 at 2:00p.m.

Herman's career spanned 42 years in facility management, property management, corporate real estate and project management. Of those 42 years, he worked at AIM and Invesco for 14 years and eight months. Most recently, Herman was Senior Vice President of Corporate Real Estate and Property Management for Amegy Bank.

In addition to enjoying a successful career, from the age of 13 Herman's most abiding lifetime passion was music. Herman loved making music with friends and he enjoyed performing. He shared that in addition to his career, he “spent even more years performing music in Houston and around Texas.”

An obituary was published in the Houston Chronical and you can leave a tribute on the Bradshaw Carter Tribute Wall.

nancy profileNancy Ann Beck-Deane, age 56, of Sugarland, Texas passed away peacefully at home on Wednesday, May 30th, 2018 surrounded by her loving family. Nancy was born on May 28th, 1962 in Warren, Ohio. She moved with her family to Houston in 1977 and graduated from J. Frank Dobie High School in 1980.

Nancy later earned a B.B.A. From the University of Houston and spent several years in Management at Continental Airlines. In 1994, she joined AIM Management Group (later Invesco) which become her professional and personal home for the rest of her life. She cherished the friendships she made over the years. As travel was a major part of her responsibilities, her network of fun and fascinating acquaintances was extensive.

Nancy’s generosity extended to many charitable and educational organizations, including St. Anne’s School, St. Agnes Academy, St. Thomas High School, Bauer College of Business at UofH, and South Texas College of Law. She was a Lifetime Committeeman with the Houston Livestock Show and Rodeo (Health Committee) and proud supporter of The Houston Police Foundation, Dress for Success, Casa de Esperanza, and Baylor Foundation for Teen Health.

As an avid Rockets fan and season ticket holder for the last 25 years, she treasured her many friends throughout the organization. Nancy was a longtime member of Sweetwater Country Club.

Nancy is preceded in death by the love of her life, John Deane, her father, David A. Beck, and maternal and paternal grandparents. Read the full obituary here.

She is survived by her mother, Rosemary Beck, her sister, Debbie Beck, and beloved niece, Annie Beck, all of Sugarland; sister Diane Lewis (husband Gregg), and three nephews (Nick, Andy and Dan) all of Rome, Georgia; and Uncle Mark O’Malley of Gerard, Ohio.

The funeral mass was held on Saturday, June 2nd, 2018 at 11am at St. Anne’s Church in Houston, Texas. Pallbearers were Doug Bauer, Christopher Crum, Gary Crum, Jack Fields, Carl Frischling, Bob Graham, Mark McMeans, Abbott Sprague, Jim Steuve, and Greg Willbanks.

In lieu of flowers, tax deductible donations may be made to the John H. and Nancy Beck Deane Memorial Fund through the Greater Houston Community Foundation, 4550 Post Oak Place, #100, Houston, TX 77027.

charles grobCharles (Chuck) Earl Grob passed away from a lengthy illness on Thursday, May 17, 2018, surrounded by his loving family. Chuck is survived by his wife, Nancy, and children Charles and his wife Shara Grob, and Carolyn Grob. Chuck worked at AIM/Invesco from 1987-2014 as a Senior Analyst, Municipal Bonds, and worked for himself after leaving the Firm.

A memorial service and celebration of Chuck's life was held in The Chapel at Chapelwood Church on Tuesday, May 22, 2018. 

In lieu of flowers, contributions honoring Chuck can be made to:
Challenge Aspen
PO Box 6639
Snowmass Village,
CO 81615
or online at:

Houston Hospice
1905 Holcombe Blvd.
Houston, TX 77030

or the charity of your choice.

Lyman Amy squareLyman Missimer and Amy Johnson.

Lyman Missimer is enjoying retirement, particularly the fact that he no longer gets up at 5am to commute from downtown Chicago to the suburbs. “We spent a wonderful summer in Chicago, and we will be in Houston this winter. I also look forward to going to the 2018 AIM Alumni happy hour,” said Lyman. 

After being through many other different situations, AIM was always the best. The company is near and dear to my heart.

Lyman Missimer

Lyman was working at a bank in Chicago in 1995 when a head hunter contacted him. “When AIM recruited me,” recalls Lyman, “all I knew about Houston was that it was warmer and cheaper than Chicago. My wife was also able to transfer with her company, so we looked forward to the new opportunities. I was hired to be Karen Dunn Kelley’s eyes and ears. She lived in Houston while her husband Joe completed his residency. When they relocated, Karen commuted from Pittsburgh. It was a struggle to run the money market desk day to day, but Ted and Gary did not wish to lose Karen which created a role for me,” said Lyman.

“My first impression of AIM was my interview day in the summer of 1995. Karen flew me to Houston and I remember it was a long and grueling nine-hour day of interviews. I had worked at banks so far in my career; I had never met or even been on the floor with a bank chairman. On my interview day, I was invited to lunch with Ted and Gary.

On my interview day, I was invited to lunch with Ted and Gary. It was incredible that I met the founding father of the firm that day. 

Lyman Missimer

We all worked together on the 19th floor. If the founding fathers spent time with employees, that impressed me. The most important factor why I joined was Karen. I was impressed with her, her knowledge, her presence and her confidence. Karen and I have worked together for a long time, and I never regretted joining AIM.”

lyman missimer group photoThe money market team reunited in Houston in April; Lyman Missimer and Karen Dunn Kelley flew in from Chicago.

“Another memory I recall happened shortly after I started. There was an employee meeting, and I did not know what to expect. I had a conflict, so I was on my way to the elevator to go to my other appointment. Mr. Bauer asked was I going to the employee meeting; he told me if you don’t go to the AIM employee meeting you are not an AIM employee. So, I turned around and attended the meeting. I learned my lesson that Mr. Bauer cares,” said Lyman.

The family moved back to Chicago in 2013 as part of a restructuring that Greg McGreevey initiated. Lyman worked in fixed income and while most of the team moved to Atlanta, he was put in charge of the municipal business in Chicago.

In April of this year, both Lyman and Karen were in Houston to catch up with the money market team with whom they had worked in prior years. They planned the team event around the AIM Alumni happy hour. “Both events were fun,” said Lyman. “While I did not work for Karen all the time I was at the firm, we remained friends. I was at Karen’s son’s wedding this summer where I saw Dawn and other AIM folks.”

said Lyman. 

Karen Dunn Kelly was unanimously confirmed by the U.S. Senate to serve as Undersecretary of Commerce reporting to Wilbur Ross.

Karen also retired from Invesco in 2017, and was hired to work for Wilbur Ross in the Department of Commerce as Undersecretary of Commerce for Economic Affairs. She started in August after her unanimous confirmation by the U.S. Senate. Ross first connected with Karen and Invesco when the firm purchased his company. Through the negotiations, Ross got to know and respect Karen. Consequently, he reached out to ask her to join his team.

It’s a cliché, but AIM was more like a family than a business.

Lyman Missimer

“Ted, Gary and Bob worked in the three corner offices; you always saw them and knew they cared. As the firm grew, that changed but it was always a good time. I will always remember it” said Lyman.