Kenneth G. Lay and Donald W. Lindsey were named to the investment advisory committee of the $39 billion Virginia Retirement System, Richmond. Mr. Lay is deputy treasurer and director banking, capital markets and financial engineering at the World Bank; Mr. Lindsey is chief investment officer at George Washington University. They replaced Charles Walker and Doyle Hull, whose terms expired.
The Virginia Legislature also named Edwin T. Burton III, an economics professor at the University of Virginia, Charlottesville, to the board. Mr. Burton was chairman of the pension fund's board of trustees. He replaces Mr. Walker, who also was a member of the board.