Institutions &
Non-Profits

Madison offers a holistic approach to investment solutions, outsourced CIO services and fiduciary management for institutional investors including non-profits and corporations. 

Your organization’s mission, governance structure and unique financial situation drive our recommendation for a custom solution to help achieve your organization’s goals. Our spectrum of service and support includes: board and committee communication, formulation of investment and spending policies, asset allocation support and traditional portfolio management.


Our Process

Your investment solution begins with our needs-based assessment, a consensus-building approach that formalizes your team’s expectations of Madison. Through this analysis we explore the specifics of your group’s risk tolerances, return needs, spending obligations, growth goals and educational needs.
Once we finalize your expectations of our team, we delve further into the investment strategy of your solution through a comprehensive asset allocation study. The results of this study provide the foundation for a long-term strategic investment plan, which also includes investment education, investment policy review and development of an appropriate spending policy.


Maya Bittar, CFA®
Disciplined Equity Portfolio Manager/Analyst
Steve Cherrier, CFA®
Insurance Portfolio Manager
Dave Geisler
Disciplined Equity Portfolio Manager/Analyst
David Hottmann, CFA®
CPA, Portfolio Manager
Alyssa Johnson
Investment Analyst
Jeffrey Matthias, CFA®, CIPM®
Portfolio Manager
Edward Meier
Portfolio Manager
Donald Miller, CFA®
Head of Insurance Solutions, Insurance Portfolio Manager
Patrick Ryan, CFA®
Head of Multi-Asset Solutions, Portfolio Manager
Courtney Dean
Director of Client Relations

Maya Bittar, CFA®

Disciplined Equity Portfolio Manager/Analyst
Contact

Maya, CFA, specializes in customized portfolio management for Madison’s high net-worth relationships. Maya also serves on our Customized Solutions team working with Insurance Asset Management. Maya began her career at First Wisconsin Bank (U.S. Bank) in 1986. After her early years in credit analysis, Maya moved to the investment business. From 1993 to 1998, Maya co-managed the Firstar Growth & Income Fund. Subsequent to her time at Firstar, Maya worked at Wellington Management Company for sixteen years as a portfolio manager on several strategies including Core Equity, Strategic Growth and Focused Equity. In addition to portfolio management, her role included fundamental research and client service. Prior to joining Madison in 2018, Maya served as a multi-sector analyst on the global equity team at Artisan Partners, LLC., focusing on companies in the United States, Europe and Japan. Maya holds a BBA (Accounting), an MBA (International Business) and an MS (Finance) from the University of Wisconsin-Madison including participating in the Applied Security Analysis Program.

Steve Cherrier, CFA®

Insurance Portfolio Manager
Contact

Mr. Cherrier, CFA, has over 35 years investment management experience in managing insurance company, bank and trust fixed income portfolios. For the past 24 years he was the Chief Investment Officer for Blue Cross Blue Shield of North Carolina, where he managed over $4 billion in assets. Mr. Cherrier has considerable experience in insurance company asset allocation, risk analysis, regulatory and total return management. He holds a BS degree in Finance from St. Cloud University and holds the CFA designation. He has served as an officer and board member in the North Carolina Financial Analyst Society and President of the BCBSNC Credit Union.

Dave Geisler

Disciplined Equity Portfolio Manager/Analyst
Contact

Dave specializes in customized portfolio management for Madison’s private client relationships. Dave also serves on our Customized Solutions team working with Insurance Asset Management. Dave has been working in the financial services industry since 2004 and prior to joining Madison, he worked at Lateef Investment Management, Artisan Partners and Cowen and Company. Dave graduated from University of California, San Diego with a BA in Economics, Highest Distinction, and an MBA from University of California, Berkeley with certificates in Management of Technology, and Entrepreneurship.

David Hottmann, CFA®

CPA, Portfolio Manager
Contact

David, CFA, serves as a portfolio manager for Madison’s Multi-Asset Solutions Team, Multi-Asset Portfolios and the Madison target allocation funds. David has been working in the financial services industry for over 25 years; he joined Madison in 2009. He earned his BBA in accounting & finance from the University of Wisconsin-Madison. David is a member of the Investment Strategy Committee.

Alyssa Johnson

Investment Analyst
Contact

Ms. Johnson joined the Madison organization in 2003 and oversees the investment accounting and reporting of our Insurance Asset Management Division. She began her insurance career with Marsh & McClennan where she focused on large commercial and industrial projects. Ms. Johnson holds a B.S. in Business Management from Arizona State University.

Jeffrey Matthias, CFA®, CIPM®

Portfolio Manager
Contact

Jeff, CFA, CIPM, serves as a portfolio manager and analyst for Madison’s Fixed Income Team, specializing in tax-exempt municipal bond portfolios. Jeff has been working in the financial services industry since 1987 and joined Madison in 2011. He earned his B.S. in finance from the University of Wisconsin-Platteville and his MBA in finance from the University of Wisconsin-Whitewater.

Edward Meier

Portfolio Manager
Contact

Edward is the lead portfolio manager of Madison’s Credit Union Investment Management team. He is also a member of the Fixed Income team, which manages several active and laddered strategies. Edward focuses on building custom investment solutions with his credit union clients, many of which he has had long relationships with.

Donald Miller, CFA®

Head of Insurance Solutions, Insurance Portfolio Manager
Contact

Mr. Miller, CFA, joined our firm with over 20 years of insurance company and bank investment management experience. Mr. Miller managed both the fixed income and equity portfolios for Illinois Mutual Life Insurance Company for 15 years prior to joining Madison Scottsdale. Don also previously served as an investment officer and portfolio manager for Bank One Investment Advisors in Central Illinois. He currently holds the CFA designation and has an MBA from Bradley University in addition to his undergraduate degree in Finance from Creighton University and a General Banking degree from the University of Illinois.

Patrick Ryan, CFA®

Head of Multi-Asset Solutions, Portfolio Manager
Contact

Patrick, CFA, serves as a portfolio manager for Madison’s Multi-Asset Solutions Team, Multi-Asset Portfolios and the Madison target allocation funds. Patrick has been working in the financial services industry since 2000 and joined Madison in 2009. He earned his BBA in finance from the University of Wisconsin-Madison.

Courtney Dean

Director of Client Relations
Contact

Courtney is Director of Institutional Solutions, responsible for managing and developing Madison’s key institutional relationships. Previously, Courtney was a founding principal of an international equity boutique investment management firm, and prior to that was a national account manager in third-party distribution for Lazard Asset Management. She has a B.A. from Colgate University and an MBA from New York University’s Stern School of Business. She has been in the investment management industry for over 20 years. After many years in New York, she now resides in St. Louis.

“Madison” and/or “Madison Investments” is the unifying tradename of Madison Investment Holdings, Inc., Madison Asset Management, LLC (“MAM”), and Madison Investment Advisors, LLC (“MIA”), which also includes the Madison Scottsdale office. MAM and MIA are registered as an investment adviser with the U.S. Securities and Exchange Commission. Madison Funds are distributed by MFD Distributor, LLC. MFD Distributor, LLC is registered with the U.S. Securities and Exchange Commission as a broker-dealer, and is a member firm of the Financial Industry Regulatory Authority. The home office for each firm listed above is 550 Science Drive, Madison, WI 53711. Madison's toll-free number is 800-767-0300. | Any performance data shown represents past performance. Past performance is no guarantee of future results. | Non-deposit investment products are not federally insured, involve investment risk, may lose value and are not obligations of, or guaranteed by, any financial institution. Investment returns and principal value will fluctuate. | This website is intended to be for informational purposes only and is not intended as an offer or solicitation with respect to the purchase or sale of any security.