Scott Malpass, CIO of Notre Dame (Art by Chris Buzelli)Scott Malpass, whose leadership at the University of Notre Dame has surpassed a quarter-century, will be honored with CIO’s Lifetime Achievement Award at a December 8 dinner in New York.
He joins the ranks of Texas Teachers CIO Britt Harris, Strategic Investment Group Founder Hilda Ochoa-Brillembourg (2012), and NISA Investment Advisors’ Jess Yawitz and Bill Marshall (2011).
Malpass began his reign as CIO of the Catholic university in 1988 at 26 years of age. As an investor, he grew alongside the endowment, both becoming among the most respected in the institutional universe. What was a $453 million fund at the time of Malpass’ appointment is now the 12th largest educational endowment in the United States at $9 billion. Over every time horizon, from one-year returns onwards, his investment office has outperformed its peers, allowing top-notch students regardless of background to attend one of the nation’s best institutions. And the industry has noticed.
“A lot of the things we take for granted as asset owners, including major direct alternatives investments and even just an orientation to equities—Malpass and small handful others had to invent them,” says Karl Scheer, the 39-year-old University of Cincinnati CIO. He credits Malpass’ success at Notre Dame to three fundamental factors.
Finalists in all 2014 Industry Innovation Award categories will be revealed Monday, September 13.
First, “a steady application of principals, which has resulted in really outstanding performance over time,” Scheer says. “He believes in certain fundamentals, and continues to hammer away at them.”
Second, longevity. Every investor familiar with Notre Dame—and the university’s leadership itself—understands the rare and irreplaceable advantage of a major talent dedicating his entire career to one institution. And Malpass’ commitment to Notre Dame extends past its portfolio. He teaches classes, advocates for the investment office, hires and mentors new graduates, and has rarely missed the chance to cheer on the school’s famous football team in 26 years of home games.
Finally, for a CIO with every right to an ego, those who know him say Malpass remains startlingly approachable and down-to-earth. “I called him one time, shortly after starting at Cincinnati, and after the first or second ring he picked up the phone himself,” says Scheer. “He is so approachable: You can’t believe you’re speaking with the Scott Malpass.”
Legions of other young asset owners have similar stories. Randy Kim, head of the $2 billion Hilton Foundation and a self-confessed “Subway Alumnus” of Notre Dame, recalls seeing Malpass and his team after a home game in South Bend, Indiana. He approached the CIO, who welcomed Kim into the group. “That personal friendship over a shared love for a college football team has developed into strong professional admiration,” he says, “built over 50-plus ensuing Saturdays in the fall.”
“I have very few role models and Scott is one of them,” Kim concludes. That so many other asset owners—young and established alike—view Malpass the same way is reason enough to name him 2014’s Lifetime Achievement Award winner. There are many more.
Be there at the Industry Innovation Awards on December 8 at the New York Public Library to congratulate Malpass on a standout career and a lifetime of making a difference.
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