Financial Services Industry People in the News

Schlifske will succeed Zore as Northwestern Mutual’s CEO; Rauh joins investment firm; Williams will succeed Finley at helm of Milwaukee Public Museum

Schlifske will succeed Zore as Northwestern Mutual’s CEO

The board of trustees of Northwestern Mutual Life Insurance Company has elected John Schlifske to be the company’s next chairman and chief executive officer.

Schlifske, currently president, will become CEO on July 1 and chairman and CEO on Aug. 1 after the retirement of Edward Zore, currently chairman and CEO.

"It’s an honor to follow in the footsteps of so many dedicated leaders who have built this company," Schlifske said. "Ed Zore will be leaving Northwestern Mutual in an exceptionally strong position, after significantly growing the business and guiding our organization through the worst economic meltdown of our lives. That speaks to his leadership and the strength and stability of Northwestern Mutual."

Zore, who has been CEO since 2001, will continue to serve on the board after his retirement.

"John Schlifske is a great leader and has the vision to make Northwestern Mutual even stronger," Zore said. "He brings to the role a keen understanding of our business and the passion to do what’s right for our policyowners and clients."

Schlifske joined Northwestern Mutual in 1987 as an investment specialist and began to hold positions of increasing authority in the securities and real estate departments. He then led the Northwestern Mutual investment products and services business as executive vice president from 2004 to 2008 before serving as president and CEO of Northwestern Mutual subsidiary Russell Investments from 2008 to 2009. He was appointed Northwestern Mutual president in 2009.

Schlifske, 51, grew up in Shorewood. He received a bachelor’s degree in economics from Carleton College in Northfield, Minn., in 1981, and a master’s degree in finance and accounting from the Kellogg Graduate School of Management at Northwestern University in Evanston, Ill., in 1983.

The Northwestern Mutual board also named Gary "Skip" Poliner, 56, president and chief risk officer, effective Aug. 1. Poliner is currently executive vice president, chief risk officer and a member of the company’s board of trustees. He will report to Schlifske.

Rauh joins investment firm

Hirtle, Callaghan & Co., one of the nation’s largest privately held investment firms, has hired veteran Milwaukee banker James Rauh to be its regional managing director and head of its Chicago office.

Rauh brings more than 30 years of investment leadership experience, to his new position at the company, which is based in West Conshohocken, Pa.

Rauh spent the last 13 years in senior leadership positions at Northern Trust Company. He most recently served as executive vice president and head of the Advisory Services Group for the company’s Personal Financial Services division. Additionally, he served as a director of Northern Trust Global Advisor, Inc., and a director and registered principal of Northern Trust Securities Inc. He previously oversaw Northern Trust’s Milwaukee office.

Before joining Northern Trust, Rauh served on the management committee of Samuel C. Johnson’s bank holding company, Johnson Financial Group. Rauh was president of both Johnson Trust Company and Johnson Asset Management.

Rauh also spent more than 20 years with Robert W. Baird & Co. Inc. in Milwaukee, where he served as senior vice president, director and member of several committees.

"I’m delighted to welcome Jim Rauh to Hirtle Callaghan," said Jonathan Hirtle, chief executive officer. "We continue to grow, because our clients continue to place their trust in our business model. The Hirtle Callaghan culture emphasizes service, logic, discipline and integrity, and we are very pleased that Jim has joined our team."

Hirtle Callaghan manages $20 billion in assets. Founded in 1988, the company’s clients include family groups, endowments, foundations and pension funds.

Williams will succeed Finley at helm of Milwaukee Public Museum

The Milwaukee Public Museum has named veteran banking executive Jay Williams to be its next president and chief executive officer.

The museum board unanimously voted to approve the appointment of Williams, who will leave his position as chairman of PrivateBank-Milwaukee and assume his new position on July 1.

Williams will succeed Dan Finley, who plans to leave the position and move to California.

The museum is operated by the nonprofit Milwaukee Public Museum Inc., but its building and exhibit collections are owned by Milwaukee County.

“Jay Williams is an outstanding pick as the next president of the Milwaukee Public Museum,” said Milwaukee County Executive Scott Walker. “I’ve worked with him on business and charitable projects, and he always performs well. I am ready to work with Jay to continue to make our museum one of the best in the world.”


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