Conn. Finance Exec. Named to Investment Post

March 16, 2009 ( - A Connecticut finance executive has been tapped as the new chairman of the state's Investment Advisory Council (IAC), which advises the state on investing its retirement and other trust funds.

A news release from Governor M. Jodi Rell said Joseph D. Roxe’s appointment was to be effective immediately and that Roxe would serve until 2011. Roxe succeeds former Chairman James T. Larkin of Greenwich, who has retired after five years of service.

According to the announcement, Roxe is chairman of Bay Holdings LLC and The Roxe Foundation, in New York City and, previously, was Senior Vice President, Director and CFO of insurance broker Johnson & Higgins and a divisional Vice President of Mobil Oil corporation.

“Joe will bring tremendous guidance and leadership to this post,” Rell said in the announcement. “The tumble that everyone has taken on Wall Street requires that we proceed as diligently as possible to protect taxpayer investments.”

The 10-member advisory council includes five public members appointed by the Governor and legislative leadership, three representatives of the state teachers’ union, and two representatives of the state employees’ union. The treasurer and secretary of the Office of Policy and Management are ex-officio members. The Governor appoints the council’s chairman.