Francis X. Lilly

Francis X. Lilly is Chief Executive Officer and Chairman of the Board of Independent Fiduciary Services, Inc. Mr. Lilly is either directly involved or involved on a supervisory level regarding all three IFS products, (i.e., retainer consulting, Operational Reviews, and fiduciary transactions). He is active across a wide range of subjects including developing investment policy, selecting investment managers and working closely with boards of trustees on matters of special concern.

Mr. Lilly brings a broad expertise with analysis and regulation of investment activity by pension funds. Prior to forming Bear Stearns Fiduciary Services in 1985, Mr. Lilly was the Solicitor of Labor (General Counsel) at the United States Department of Labor, appointed by the President in 1983. In this position, Mr. Lilly was responsible for all legal activity of the Department, including its enforcement of the fiduciary provisions of ERISA. Prior to his confirmation as Solicitor by the U.S. Senate, Mr. Lilly served as Deputy Solicitor of Labor in 1982 and as Acting Associate Counsel to the President, The White House, in 1981. Before his public service, Mr. Lilly practiced law in Washington.

Mr. Lilly received his undergraduate degree from Duke University and his law degree from the Columbus School of Law, Catholic University of America.