ERS Trustees

Photo of Craig Hester

I. Craig Hester, Chair

Appointed by Chief Justice Nathan Hecht

Craig Hester was first appointed to the ERS Board in 2005 by Chief Justice Wallace Jefferson and has been reappointed twice. 

He has been actively involved in professional investment management since 1972. Mr. Hester is a Principal at Luther King Capital Management. Prior to joining LKCM, he formed Hester Capital Management, where he acted as Chairman, CEO and Chief Investment Officer. Before that, Mr. Hester served as Director of Regional Asset Management for InterFirst Investment Management, Chief Investment Officer of the Texas Municipal Retirement System, Assistant Vice President & Trust Officer at Republic National Bank, Dallas and Senior Analyst for the Teacher Retirement System of Texas.

He currently serves on the Advisory Committee of the MBA Investment Fund, LLC of the University of Texas Graduate School of Business. Mr. Hester is a former board member of the University of Texas Investment Management Company (UTIMCO), former Investments Committee member and past chair of the University of Texas' Ex-Student's Association, former member and past chair the Investment Advisory Committee of the Employees Retirement System of Texas and former investment advisor to the Teacher Retirement System of Texas. He is the past president of the Austin Investment Association and a member and past president of the Austin/San Antonio Society of Financial Analysts and the Austin Society of Financial Analysts. He is a former member of the Board of Governors of the Investment Adviser Association (IAA), a current Board member and past chairman of the Board of Trustees of the Joe R. and Teresa Lozano Long Center for the Performing Arts, and is a former member and past chair of the Foundation for SafePlace. Mr. Hester is a member of the Executive Committee of the University of Texas Chancellor's Council and of the Littlefield Society.

Mr. Hester received his Bachelor of Business Administration and Master of Business Administration at The University of Texas at Austin. He received the Chartered Financial Analyst designation in 1977 and the Chartered Investment Counselor designation in 1992.

His term expires August 31, 2022.

Ilesa Daniels, Vice-chair


Ilesa Daniels was elected to the ERS Board in 2015. She began her career with the Texas Health and Human Services Commission in 1990 as a Texas Works Advisor. Ms. Daniels was later promoted to Case Analyst, and is currently a Program Specialist in Quality Assurance Field Services. She also mentors new employees as they begin to navigate through their careers.

Ms. Daniels is active in civic organizations in her community. She volunteers at a homeless shelter and mentors young girls in the Houston area.

Ms. Daniels holds a Bachelor of Science in Sociology with a minor in Psychology from Texas Southern University.

Her term expires August 31, 2021.


Doug Danzeiser

Appointed to fill a vacant elected seat

Douglas “Doug” Danzeiser was appointed to the ERS Board in October 2014 to fill a vacant elected position.

He is the Director of the Life & Health Lines Office in the Texas Department of Insurance (TDI), focusing on the regulation of the life and health insurance markets in Texas. He has conducted investigations of carriers and administrators, and developed legislation and regulation.

Mr. Danzeiser has been an attorney for the state since 1994, working for the Texas Attorney General before moving to TDI in 2000.

Mr. Danzeiser obtained his Bachelor of Arts from The University of Texas at Austin. He received a Doctor of Jurisprudence from the University of Texas at Austin School of Law.

His term expires August 31, 2019.


Cydney Donnell

Appointed by Governor Rick Perry

Cydney Donnell was appointed to the ERS Board in 2007. She is the Director of Real Estate Programs and an Executive Professor at the Mays Business School of Texas A&M University, where she teaches in the Finance Department. Areas of expertise include investments, real estate finance and corporate governance. She also serves as Associate Department Head of
the Finance Department.

Formerly a Principal and Managing Director of European Investors/EII Realty Securities, Inc., she served in various capacities at EII, including Chair of the Investment Committee, Portfolio Manager of the real estate securities group, and Vice-President and Analyst. Prior to joining EII, she was a real estate lending officer at RepublicBanc Corporation in Dallas.

In 2006, Ms. Donnell received the National Association of Real Estate Investment Trusts' ( NAREIT's) prestigious Industry Achievement Award which is presented to professionals who have earned a distinguished reputation within the REIT business community and are recognized for their contributions to the industry and the national trade association. Ms. Donnell also has been named one of the 100 Women Real Estate Leaders for the 21st Century by the Association of Real Estate Women. She has served on the board and institutional advisory committee of NAREIT and in various leadership capacities for the Association of Former Students of Texas A&M University and the Junior League of the City of New York.

Ms. Donnell received a Bachelor of Business Administration from Texas A&M University and an Master of Business Administration from Southern Methodist University.

Her term expires August 31, 2018.


Catherine Melvin


Catherine Melvin was elected to the ERS Board  in 2017. 

She serves as the Chief Auditor for the Texas Department of Public Safety. A career public servant, Ms. Melvin has extensive experience in Texas state governmental internal auditing, including more than 20 years' service as Chief Audit Executive. She began her career as an Auditor I and has since worked in several state agencies across various sectors, including health/human services, regulatory, statewide oversight and public safety.

A leader in both state government and the internal audit community, Ms. Melvin has served on and led numerous interagency and professional committees and task forces. She has focused her career in public service – assisting Texas state agencies in achieving their goals and objectives while being accountable to the public for efficiency, transparency, economy, effectiveness and excellence.

Ms. Melvin holds a Bachelor's degree from the University of Central Texas (now known as Texas A&M University Central Texas) with a concentration in Accounting. She is also a graduate of the Governor's Executive Development Program and of the Texas Fiscal Officers' Academy. Ms. Melvin holds the designations of licensed Certified Public Accountant, Certified Internal Auditor and Certified Law Enforcement Auditor. 

Her term expires August 31, 2023


Jeanie Wyatt

Appointed by Speaker Joe Straus

Jeanie Wyatt was appointed to the ERS Board in 2016. 

She is the CEO, Chief Investment Officer and Founder of San Antonio-based South Texas Money Management (STMM), which has offices in Austin, Corpus Christi, Houston and Dallas. Before founding STMM in 2000, Ms. Wyatt served as Executive Vice President and head of Frost Investment Services (Cullen/Frost Bankers, Inc.). She was responsible for the investment areas of nine trust departments around the state with approximately $13 billion in assets. 

Ms. Wyatt currently serves as Vice Chair of the Lady Bird Johnson Wildflower Center Advisory Board, on the Development Board of the University of Texas Health Science Center San Antonio and as a Trustee of the Southwest Research Institute. She has served on the Board of Governors of the CFA Institute, an international organization of more than 100,000 investment professionals; the Texas Pension Review Board; the National Endowment Fund Board of Trustees of the American Red Cross; and the Pension Plan Board of Trustees of the University Health System in San Antonio, among other boards.

She is the recipient of many awards and acknowledgments, including: Barron’s Top Financial Advisors by State, Top 100 Women Financial Advisors and Top 100 Independent Advisors; FT Magazine’s Top 100 Women Advisors; and induction in the San Antonio Women’s Hall of Fame.

Ms. Wyatt was a regular columnist about investing for the San Antonio Express-News and has been a special guest on “Wall Street Week with Louis Rukeyser.” She has been interviewed by The New York Times, The Wall Street Journal, Financial Advisor magazine, CNN, Fox Business News, the Associated Press and other media outlets.

A Chartered Financial Analyst, Ms. Wyatt holds an honors degree in Actuarial Science from the University of Texas at Austin and an MBA from the University of Texas at San Antonio.

Her term expires August 31, 2020.