During more than 45 years in investment management industry for U.S. and non-U.S. firms, Holly Miller has developed an unusually broad understanding of the investment management industry across different types of organizations, functions, investment vehicles, and investment types. She has focused on operations, technology, and large-scale change management initiatives across traditional and alternative strategies. Ms. Miller is a recognized expert in operational risk, service provider engagement and oversight, and regulatory policy. Leveraging her deep domain knowledge, clarity of thought, and her ability to distill and communicate complex issues, Ms. Miller has developed a reputation for constructive and candid feedback, using probing questions to challenge ideas and decisions.
Most recently at the SEC, Ms. Miller advised commissioners, directors, and staff on a broad array of policy, rulemaking, examination, and enforcement issues. She was particularly involved in the oversight of the US markets’ successful transition to T+1 settlement, advising the chair and multiple division directors on approaches, risks, and issues, engaging with industry and other regulators, and identifying and monitoring key metrics to evaluate progress and risks.
During her tenure at Nuveen, TIAA’s $1 trillion investment management arm, Ms. Miller was a senior managing director and global head of investment operations, managing a 154-person team with a $64 million annual budget. She was a member of the oversight committees for the firm’s two fund families and the TIAA General Account. She also served on a variety of product, risk, and trade error committees across the organization. Ms. Miller led the design and implementation of an aggressive five-year, $24 million initiative to create “One Nuveen” by integrating investment affiliates, and chaired the governance committee to harmonize policies, committees, and processes.
In earlier roles, Ms. Miller served as a strategy, operations, and IT consultant to investment managers, first for Citisoft and later starting her own firm building a client list that included Blackstone, Morgan Stanley, SEI, and Dimensional Fund Advisors. She was the COO for a complex $17 billion investment management firm with 14 affiliates, and she was the business owner for an emerging middle-office outsourcing business at SEI, where she grew that business from nine clients with 205 portfolios and $2.4 million annual revenue to eleven clients with 3,065 portfolios and $14.6 million annual revenue in 26 months.
Ms. Miller studied computer science at the University of Virginia. She co-authored The Top Ten Operational Risks: A Survival Guide for Investment Managers and Hedge Funds (Dec 2010). She has served on the board of governors of a private, co-ed K-12 day/boarding school in Virginia and on three different co-op boards in New York City.
