The University of Chicago’s Office of Investments is seeking a new managing director to add to its team of 29 professionals. The office invests the University’s endowment, operating under the guidance of the University’s Board of Trustees Investment Committee.
The University of Chicago’s Office of Investments and the Investment Committee of the Board of Trustees provide stewardship of the university’s portfolio totaling nearly $14 billion, including its $8.6 billion endowment. The endowment pool is one of the 20 largest private university endowments in the U.S. The board and its investment managers seek superior rates of return while effectively managing risk and prioritizing investment objectives congruent with the long-term goals of the University of Chicago and its affiliates.
The managing director selected will work across asset classes and strategies, informing active asset allocations, while reporting to the vice president and chief investment officer. Outside of identifying, presenting, and managing investment placements, the managing director will also monitor and manage existing relationships with external investment managers and aid in the selection of new external managers.
The office seeks someone who has experience investing across multiple asset classes with a global reach. In addition, the candidate will have a strong network in the institutional investment community. The ideal candidate will have a CFA designation, an MBA, or other advanced degree in finance, economics or another related field, and 10+ years of professional experience in investment management.
The announcement of a search for a new managing director follows the appointment of new CIO Andy Ward back in October 2021. Ward replaced the previous CIO, Mark Schmid, who retired in 2021. Schmid was awarded the University’s inaugural John Rogers Jr. Business Diversity Impact Award in 2018 and received a Lifetime Achievement Award from Chief Investment Officer in 2016. Both Ward and Schmid preceded their tenures as the CIO at The University Chicago’s Office of Investments, with a tenure as CIO of Boeing’s employee benefit plans, where Schmid emphasized training his internal staff so that they could take over leadership positions in his funds.
Related Stories:
University of Chicago CIO Mark Schmid to Retire in September
Notre Dame, University of Chicago Endowments Return 7.2%, 6.9%
University of Chicago Endowment Returns 8%
Tags: Andy Ward, Mark Schmid, University of Chicago, University of Chicago’s Booth School of Business