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The 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 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.
RE Advisers has tremendous potential to help rural electric cooperatives and their employees by providing exceptional money management at an affordable cost.
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.
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.
Herman Kluge impacted the lives of many of his colleagues. It is a testament to his leadership,” said Linda Julian “that many of his former employees became his friend and stayed in touch with him and each other after leaving AIM.”
Herman spent 36 years in facility management, property management, corporate real estate and project management. Of those 36 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 his career, Herman enjoyed performing. He shared that in addition to his career, he “spent even more years performing music in Houston and around Texas.”
“It’s difficult to encapsulate more than 20 years of camaraderie, respect, joy and friendship,” said Anne Warnock. She shared that working for Herman at AIM was a joy. “He was always interesting, intelligent, fun, and a wonderful mentor,” remembers Anne. “We worked hard, but we laughed every single day. Herman could never resist a good...or even bad...pun!” she continued.
Herman had a wonderful sense of humor and if you knew him you knew his love of puns.
Everyone who knows Herman will remember he was a big fan of Elvis Presley, and for Herman’s 50th birthday, his department had a party for him, complete with Elvis mask decorations, and AIM’s own - Jeff Brown (A/V) - played the role of Elvis in a white jumpsuit.
Herman and Carol went to Paris on vacation, and Anne shares that she was in a meeting when he came back to work. Herman paged her relentlessly until she came out to find out what the emergency was - only to find that he wanted to tell her that he and Carol got engaged.
“When Y2K rolled around, we had endless meetings about the potential impact and how to deal with any problems,” said Anne. “I was in Edinburgh (six hours ahead of Houston) when midnight struck, and I phoned to wish Herman a Happy New Year. He asked me how everything was there, and I said mostly fine, but all the streetlights had gone out for several minutes when the clock struck twelve... WHAT!!! he said... until I started laughing! It might have been the only time I got one over on him!”
“On a personal level, Herman and Carol came to my wedding in Edinburgh, Scotland in May 2004. Seeing Herman in a kilt is a memory that will stay with me forever!!” said Anne who was at the Firm for 20 years when she retired in 2012.
Seeing Herman in a kilt is a memory that will stay with me forever!
Nina Smith worked for Herman in the 1990s and shared that Herman was loved by many at AIM. “Herman was one of my all-time favorite bosses. It was an honor to work for him. He was an artsy kind of guy who loved performing music with his buddies and just being his "groovy" self,” said Nina who joined AIM in 1988 and is still with the Firm.
Linda Julian echoes Herman’s sense of humor. “Herman was a truly unique individual,” said Linda. “He made the work in our department fun and professional.
Herman loved to perform and traveled around Texas. In addition to music and Elvis, Herman always enjoyed a slice of Maine Blueberry pie. He and his wife Carol often made vacation trips to Maine.
“Herman was a great mentor and dear friend,” said Linda. “His passing left many people heartbroken. He will be greatly missed.” Linda was at the Firm from 1992-2008 and her final position was Senior Facilities Administrator.
In lieu of flowers, contributions in memory of Herman Kluge can be made to the oral cancer research fund at the MD Anderson Cancer Center at www.mdanderson.org/gifts, or directly to Dr. Ann Marie Gillenwater Research, P.O. Box 4486, Houston, TX 77210-4486, or to the charity of your choice.
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.”
Nancy 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 (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:
PO Box 6639
or online at:
1905 Holcombe Blvd.
Houston, TX 77030
or the charity of your choice.