WesCorp News
DeMichele Joins WesCorp as new Chief Investment Officer
Please welcome Joe DeMichele as the newest addition to our senior management team. As Chief Investment Officer, DeMichele will direct WesCorp's Investment operations, providing comprehensive balance sheet, liquidity and investment related products and services to WesCorp's members.
DeMichele has been actively involved in the financial markets for more than 25 years. Before joining WesCorp, he served as Managing Partner for Allegiance Advisors LLC, where he was responsible for managing credit-oriented structured product investments. He also was a member of the Allegiance Capital Investment Committee.
Prior to that, DeMichele was a vice president at Delaware Investments, where for six years he handled various asset/liability management activities, including portfolio analysis, structured product investing, and secondary derivatives trading. In 1990, he joined Conseco Capital Management, managing its mortgage-backed securities and life insurance and annuity client portfolios. He began his career on the trading desk at Merrill Lynch and Salomon Brothers.
He has been a frequent speaker at financial conferences, and has also been published in numerous industry journals and periodicals.
DeMichele holds a bachelor's degree in economics from the University of Pennsylvania.
He lives with his wife and two children in Laguna Beach, Calif.
Town Hall Series To Update Members
This year, we are replacing our Annual Meeting and Future Forum educational conference with a series of Town Hall meetings located throughout the western U.S. The kick-off meeting is set for May 18 at the Sheraton Fairplex Hotel in Pomona, Calif.
The Town Hall meetings are your chance to meet our new CEO, Phil Perkins, and the rest of the leadership team face to face. In these meetings, we'll go over the March financials, the 2008 audit, and insights into our overall performance. We will also provide an outlook on the current economic environment and the likelihood of a recovery in 2009.
Click here to view an introduction from Phil.
Dates and locations:
May 18: Sheraton Fairplex Hotel, Pomona, Calif.
May 20: Travis Credit Union, Vacaville, Calif.
May 21: Fresno County Federal Credit Union, Fresno, Calif.
May 27: Silver State Schools Credit Union, Las Vegas, Nev.
May 29: Patelco Credit Union, San Francisco, Calif.
June 3: Boeing Employees Credit Union, Tukwila, Wash.
June 4: Capital Educators Federal Credit Union, Boise, Idaho
June 9: HawaiiUSA Federal Credit Union, Honolulu, Hawaii
Click here to register.
But What About The Swine Flu?
Spend a few minutes looking at the news today and you will inevitably hear a report about the swine flu sweeping across the globe. With Mexico seemingly earmarked as the epicenter, the virus has since grown domestically and internationally.
While the Centers for Disease Control (CDC) expects more cases to surface in the days ahead, it believes that communication with the public and the protective measures taken by individuals so far are having a profound effect on mitigating the risk of the situation. Countries are sharing data and are evaluating the DNA information in efforts to develop a high yield candidate vaccine virus.
Along with the CDC, officials at WesCorp are closely monitoring the situation as well. Our Incident Command Team has been activated and we are working our pandemic management and communication plan developed and tested more than two years ago. The objective of the plan is to ensure a safe and healthy environment for all of WesCorp, while maintaining a continuous and uninterrupted level of service for our members.
Rest assured that we will keep you informed on plans surrounding our upcoming May 18 gathering in Pomona, Calif., along with the series of town hall meetings set to follow soon after throughout the country. As these event dates draw nearer, WesCorp will be providing additional information and if necessary, alternatives to the meetings, based on the assessments of our Incident Command Team in concert with instructions from the CDC in Atlanta.
For now, however, the meetings are still a "GO." During the weeks ahead, look for additional updates on Member Center and on our Web site.