STAND. COM. REP. NO. 1849

                                   Honolulu, Hawaii
                                                     , 1999

                                   RE:  GOV. MSG. NO. 218
                                        




Honorable Norman Mizuguchi
President of the Senate
Twentieth State Legislature
Regular Session of 1999
State of Hawaii

Sir:

     Your Committee on Commerce and Consumer Protection, to which
was referred Governor's Message No. 218, submitting for study and
consideration the nomination of:

BOARD OF TRUSTEES, EMPLOYEES' RETIREMENT SYSTEM

     G.M. No. 218       RICHARD L. HUMPHREYS, for a term to
                        expire January 1, 2005; 

begs leave to report as follows:

     Three individuals, while not present, submitted testimony in
support of the nomination.

     Upon review of the statement submitted by the nominee, your
Committee finds that the nominee is a volunteer, willing to serve
without compensation, who will assist in administering the
functions of the Board of Trustees of the Employees' Retirement
System with compassion and commitment.

     Your Committee notes as follows with respect to the specific
qualifications of the nominee:

     Richard L. Humphreys is a partner in Altres Financial, L.P.,
and has over thirty years experience in banking and finance in
Hawaii and California.  Mr. Humphreys has served as Hawaii
Chairman of Bank of America, President of Hawaiian Trust Company
and First Federal Savings and Loan, and Executive Vice-President
of Bank of Hawaii and AMFAC Financial.  The nominee's community
service activities include serving on the boards of the Aloha

 
a                                                     GM218
                                   STAND. COM. REP. NO. 1849
                                   Page 2


United Way, Augustine Foundation, Convention Center Authority,
and Hawaii Nature Center. 

     As affirmed by the record of votes of the members of your
Committee on Commerce and Consumer Protection that is attached to
this report, your Committee, after full consideration of the
background, character, experience, and qualifications of the
nominee, has found the nominee to be qualified for the position
to which nominated and recommends that the Senate advise and
consent to the nomination.

                                   Respectfully submitted on
                                   behalf of the members of the
                                   Committee on Commerce and
                                   Consumer Protection,



                                   ______________________________
                                   BRIAN KANNO, Co-Chair



                                   ______________________________
                                   BRIAN T. TANIGUCHI, Co-Chair

 
a                                                     GM218