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Montana's Blast From the Past

Traders Magazine, April 2005

Nina Mehta

Joe Kennebeck made history recently when he joined the Montana Board of Investments. He became the first equity trader at the state pension fund as it began a technology makeover. "Until I got here there was no equity trading position. It was a function of the portfolio manager," Kennebeck says. "It was his side duty." The pension fund, which has about $4 billion in equities under management, has one domestic equities portfolio manager and six analysts. Kennebeck now executes trades in-house for the fund's domestic large-cap and mega-cap equity portfolio. The fund's international equities and small-cap portfolios are managed externally.

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