ARLINGTON, Va. – The National Rural Electric Cooperative Association (NRECA) has selected Mark Santero to serve as president and CEO of the association’s investment management subsidiary, RE Advisers. Santero was also voted CEO of Homestead Funds, the mutual fund company created by NRECA, by the Homestead Funds’ board of directors and appointed to serve on that board.
Santero brings more than 30 years of experience in investment management to RE Advisers. Most recently, he was the CEO at Dreyfus Corporation, a subsidiary of BNY Mellon Investment Management. He also has served as chief operating officer at BNY.
“Mark brings exceptional vision and leadership to this position,” said NRECA CEO Jim Matheson. “His extensive experience and understanding of investor needs will help position the business for future growth and success. Providing access to top-quality financial products and trusted money managers is an important part of NRECA’s service to members.”
“This is a truly unique opportunity,” said Santero. “RE Advisers has tremendous potential to help rural electric cooperatives and their employees by providing exceptional money management at an affordable cost. I’m excited to be a part of that mission.”
The National Rural Electric Cooperative Association is the national trade association representing more than 900 local electric cooperatives. From growing suburbs to remote farming communities, electric co-ops serve as engines of economic development for 42 million Americans across 56 percent of the nation’s landscape. As local businesses built by the consumers they serve, electric cooperatives have meaningful ties to rural America and invest $12 billion annually in their communities.
RE Advisers, a subsidiary of NRECA, directs $10.3 billion in assets as of March 31, 2018. Based in Arlington, Virginia, the company manages stocks, bonds and mutual funds for a wide range of clients, including investors in the Homestead mutual funds, institutions, pension plans and a model portfolio program sponsor. Homestead Funds are distributed by RE Investment Corporation.