FEDERAL RETIREMENT THRIFT INVESTMENT BOARD

77K Street, NE Washington, DC 20002

FOR IMMEDIATE RELEASE

April 20, 2015

FEDERAL RETIREMENT THRIFT INVESTMENT BOARD

ANNOUNCES THE RE-CONFIRMATION OF 

MICHAEL KENNEDY AND DAVID A. JONES 

Washington, D.C. – The Federal Retirement Thrift Investment Board announced 

today that Michael Kennedy and David A. Jones were confirmed by the U.S. Senate to 

new terms. Both Mr. Kennedy and Mr. Jones will serve until 2018. Mr. Kennedy has 

been serving as a Board member since September of 2010 and as Chairman since August 

of 2011. Mr. Jones has been serving as a Board member since 2011. Mr. Kennedy and 

Mr. Jones join fellow Board members Dana Bilyeu, Ron McCray and William Jasien. 

The five presidentially appointed Board members develop and establish the policies 

governing the Thrift Savings Plan (TSP) for Federal employees. The Executive Director 

of the Board, Gregory T. Long, serves as the head of the Agency that manages the Plan. 

Mr. Kennedy said, “I believe the TSP has made significant improvement over the 

past four years and I look forward to working with my fellow Board members and the 

FRTIB employees to continually look for ways to further improve the TSP.” 

Mr. Jones stated, “I believe strongly in the TSP’s mission to allow its participants 

to retire with dignity. The TSP plays an important role in Federal employees’ retirement 

and we always look for ways to make the plan even stronger.” 

Mr. Long commented, “The FRTIB is very fortunate to have a Board comprised

of five highly experienced Members. Working with our Board members, I am confident 

that we will continually strive to improve, ensuring that TSP participants and 

beneficiaries have access to quality, low cost products and services that will help them to 

retire with dignity.”

Mr. Kennedy is a Managing Director in the Atlanta office of Korn/Ferry 

International and a member of the firm's global financial services practice, specializing in 

commercial/investment banking, capital markets, and asset management searches. He 

also co-leads Korn/Ferry's Diversity Practice. He has conducted senior-level searches in a 

wide array of investment banking and capital markets areas, including mergers and 

acquisitions, corporate finance, loan syndications, structured finance, and risk 

management. Mr. Kennedy brings broad private equity and corporate finance experience 

to his executive recruiting. Prior to joining Korn/Ferry, he owned a venture capital 
consulting firm where he advised a southeast-based private equity fund. Before founding 

his own firm, Mr. Kennedy was a Vice President in the corporate finance group at GE 

Capital Corporation, where he provided senior debt, mezzanine, and equity financings to 

companies for recapitalizations, acquisitions, and buyouts. Previous to that, he was a Vice 

President at the Wachovia Corporation in the US corporate group. He started his financial 

services career with J.P. Morgan's Investment Management Group in New York. Mr. 

Kennedy is an active member of Leadership Atlanta, the Atlanta Venture Forum, and the 

Harvard Business Club of Atlanta. He previously served as Chairman of the Board of 

Visitors of the University of North Carolina. He is also a recent member of the Board of 

Trustees of the Georgia Employees Retirement System pension fund, and is a past 

member of the Board of Trustees of the Phillips Exeter Academy in Exeter, New 

Hampshire. Mr. Kennedy holds a B.A. with highest honors in history and political 

science from the University of North Carolina at Chapel Hill and an M.B.A. from the 

Harvard Business School.

Mr. Jones, of New Canaan, Connecticut, established D.A. Jones LLC, an 

independent consulting firm and trustee for a number of families and their entities, in 

2004. Before the founding of his own firm, Mr. Jones was a managing director and the 

senior client executive at Deutsche Bank Private Wealth Management in New York. His 

other prior experiences include running his own investment advisory firm, Bannister 

Capital Management, and serving as CEO of Citicorp Securities Markets, Inc. in New 

York, where he was responsible for the firm's fixed income and foreign exchange 

businesses for North America. Mr. Jones also worked at Goldman Sachs as the fixed 

income trading manager in London. Mr. Jones has served as a member of the Treasury 

Borrowing Advisory Committee, as Vice Chairman of the Primary Dealers Committee 

and as a director of the Public Securities Association. He is a past Chairman of the Board 

of Trustees of The Jewish Home Lifecare System in New York and serves as the 

Chairman of Fund for the Aged, Inc. Mr. Jones is a graduate of Princeton University and 

the Harvard Business School.

The TSP is a retirement savings plan for Federal employees; it is

similar to the 401(k) plans offered by many private employers. 

As of March 2015, TSP assets totaled approximately $450.0

billion, and retirement savings accounts were being maintained 

for more than 4.7 million TSP participants. Participants include 

Federal civilian employees in all branches of Government, 

employees of the U.S. Postal Service, and members of the 

uniformed services. Additional information can be found at 

www.tsp.gov. 

MEDIA CONTACT:

Kim Weaver 

202-942-1641

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