MADISON, Wis. — Keith L. Johnson resigned as chief legal counsel of the $68.2 billion State of Wisconsin Investment Board to start Pension Fund Alliance Consulting Group LLC and serve as director of a new University of Wisconsin international corporate governance initiative.
Mr. Johnson, who led SWIB's corporate governance program for the last six years, left Aug. 25, and the board is searching for a replacement. "The most competitive candidate will have experience in the investment field," although such experience isn't required, according to a SWIB statement. In the interim, Mr. Johnson's duties will be split between Teresa Lau, transaction legal services director, and Bruce Haarmann, assistant legal counsel, said Vicki Hearing, public information officer.
Pension Fund Alliance Consulting Group, which is based in Madison, will assist U.S. pension funds with corporate governance program development and implementation, and will represent foreign institutional investors on U.S. corporate governance matters, he said.
PFACg, as it abbreviates its name, also plans to provide securities litigation claim evaluation and case management "through an affiliate that is not associated with the law firms that file shareholder cases," according to a company statement.
Mr. Johnson, who is president of the firm, said he expects to announce a joint venture with another firm in corporate governance in coming weeks. He declined to elaborate.