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Office of Investments Team

Rich Robben, CFA® 

Executive Director, Office of Investments

The Executive Director provides general direction to the fixed income, equity and alternative asset divisions and serves as the primary adviser to the KRS Investment Committee. Mr. Robben also assists in developing policies and procedures to safeguard the Systems' assets.

Mr. Robben received his Bachelor of Arts degree in Business Administration and Management from Bellarmine University in Louisville. He is also a Chartered Financial Analyst® (CFA) Institute charterholder. CFA members must annually certify that they will abide by the CFA Code of Ethics because of their industry designations.


Joe Gilbert IV, CAIA 

Director of Public Equity Assets

Mr. Gilbert is responsible for the general oversight and evaluation of all domestic and international equity investments, as well as internally managed portfolios.


Andy Kiehl

Deputy Executive Director

Real Estate and Real Return Assets

Mr. Kiehl joined Kentucky Retirement Systems in 2015 and is currently Director of Investments for the Real Estate and Real Return asset classes. The portfolio may use unique investment structures and/or utilize both public and private securities.  

After beginning his career as a Financial Advisor, Mr. Kiehl advanced to regional manager of National City Investments and ultimately became Senior Market Executive.  

Over the last 18 years, Mr. Kiehl has held senior roles in the institutional investment industry including positions at INVESCO Institutional, Stable Value/Fixed Income and Co-Portfolio Manager and Credit Specialist at Deutsche Asset Management. 

Mr. Kiehl holds a B.S. in Finance, Honors from the University of Dayton, and is an Accredited Investment Fiduciary.


Anthony Chiu, CFA® 

Director of Private Equity and Alternative Assets

Mr. Chiu is responsible for managing Private Equity and Alternative Investments for the Systems.

Mr. Chiu has earned an MBA from Duke University's Fuqua School of Business and a Bachelor of Arts in Economics with honors from Stanford University. Additionally, he is a Chartered Financial Analyst® (CFA) Institute charterholder. CFA members must annually certify that they will abide by the CFA Code of Ethics because of their industry designations.


Steve Willer, CFA®

Fixed Income Division Director

Mr. Willer has over 25 years of institutional asset management experience and is responsible for managing the fixed income investments at the Kentucky Retirement Systems (KRS).

Mr. Willer joined KRS in April 2020. Previously, he was a Senior Portfolio Manager and Strategist at the Commonwealth Bank of Australia, where he was responsible for developing and implementing portfolio strategies, asset allocations and hedging strategies.


For more information about the industry designations mentioned above, click on the logos below:


KRS Board of Trustees Investment Committee​ 

The Investment Committee meets each quarter to review the work of the investments team and external money managers. The Committee presents a quarterly report to the Board of Trustees laying out investment performance, compliance reports, and any recommendations for the KRS portfolio.

The Board employs industry-leading external consultants to assist in determining and reviewing the asset allocation guidelines and the performance of both the internally and externally managed assets.

For more information about our external consultants, click on the logos below:


KRS Office of Investments Location

Louisville Office:

Kentucky Retirement Systems

Office of Investments

312 Whittington Parkway, Suite 010

Louisville, KY 40222

Phone: (502) 696-8443

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