Financial Services >> Analyst Interviews >> February 16, 2004
SCOTT C. WESTPHAL is the Managing Director of Cornerstone Real Estate
Advisers' Real Estate Securities Investment Management unit and is
responsible for the creation and management of real estate securities
portfolios for the firm's institutional clients. This unit is also
responsible for providing research services for Mass Mutual's affiliated
family of financial service companies, as well as other Cornerstone
business units. Prior to joining Cornerstone in 1999, Mr. Westphal
served as Executive Vice President and Portfolio Manager for JLW Capital
Management, a wholly owned subsidiary of Jones Lang LaSalle. His
principal responsibilities were the creation and management of real
estate securities portfolios for institutional clients. Previously, He
served as Senior Vice President for Cohen & Steers Capital Management,
the largest dedicated US real estate securities investment manager,
where he spent four years developing portfolio strategies for
institutional investors and served as a member of the Investment
Committee. Prior to his position at Cohen & Steers, Mr. Westphal was a
portfolio manager for the IBM Retirement Fund's $2.5 billion real estate
portfolio, where his responsibilities included investments in direct
properties, joint ventures and REITs. He was also responsible for the
first property for share exchange negotiated with a publicly traded US
REIT. Mr. Westphal received his BS in Corporate Finance and Accountancy
from Northern Illinois University. He is Chartered Financial Analyst and
a Certified Public Accountant. Mr. Westphal is a member of the
Association of Investment Management and Research, American Institute of
Certified Public Accountants, New York Society of Securities Analysts
and the National Association of Real Estate Investment Trusts. Profile
EVELYN LEON INFURNA is a Vice President in Cornerstone's Real Estate
Securities Investment Management unit and is responsible for the
management of real estate securities portfolios and investment research.
Prior to joining Cornerstone in 2000, Ms. Infurna was a sellside equity
research analyst with Deutsche Banc Alex. Brown (DBAB) and its legacy
companies where she worked her way up from the associate level in 1995
to Director and co-head of a six-person research team in 2000. Her
primary responsibilities were to recommend and maintain investment
opinions on the multi-family, industrial, storage, and manufactured
housing groups as well as various diversified REIT stocks. During her
tenure at DBAB, Ms. Infurna was frequently quoted in The Wall Street
Journal, New York Times and various other industry publications. She was
also a guest lecturer at New York University's Master's in Real Estate
program. Her real estate analyst skills were initially honed at Mutual
of New York where she was an asset manager for three years and during
her three-year experience with Greystone Realty Corporation as an
associate working on acquisitions, development and asset management. Ms.
Infurna holds a Master's in Business Administration from Northwestern
University's J.L. Kellogg Graduate School of Management and a Bachelor
of Science degree from New York University's Stern School. She is a
member of the New York Society of Securities Analysts, AIMR and NAREIT. Profile
Advisers?
Mr. Westphal: Cornerstone Real Estate Advisers is a wholly owned
subsidiary of Mass Mutual, which is an old-line
