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2013 Endowment Management Forum
February 6-8, 2013
The Waldorf Astoria
New York, NY
Overview
The program will touch on such important issues as:
- current investment trends
- regulatory and legislative actions
- global trends and directions
2013 Endowment Management Forum Preview
Who Should Attend
- Chief Financial Officers
- Endowment Chief Investment Officers
- Institutional Treasurers
- Investment and Finance Committee Board members
- Professional Endowment Fund Managers
What You'll Learn
- Better ways to communicate with your boards and committees
- Insights into inflation and its possible impact
- Exploration in depth of major, difficult issues
Prerequisites
No prerequisites and/or advance preparation required.
Course Level
Estimated CPEs
Participants will be awarded up to 15 CPE credits. CPE credits can be earned in the following categories:
Finance
Schedule
Wednesday, February 6
| 11:00 am | Pre Conference Corporate Showcase Registration |
| 12:00 pm | Pre-Conference Corporate Showcase This is an optional day of programming- Please indicate during registration if you are going to attend this event.
12:00-1:00 p.m.- A Discussion of the Outsourced CIO and Investment Office Christopher Laing, CornerStone Partners
Kevin Schuyler, CornerStone Partners David Russell, CornerStone Partners 1:00-2:00 p.m.- Europe from a European's Perspective
Andrew Kirton, Mercer
2:00-3:00 p.m.- Can Investors Have it All? Weighing the Risks, Liquidity, and Returns of Private Equity Cheryl Maliwanag, Pathway Capital Management
James Wilson, Muskingum University 3:00-3:30 p.m.- Refreshment Break Sponsored by Fund Evaluation Group
3:30-4:30 p.m.- Benefit of Investing in Real Assets
Jim Bethea, University of Iowa Foundation
Nolan Bean, Fund Evaluation Group 4:30-5:30 p.m.- Asset Allocation in a Low-Return Environment
Marvin Barth & Scott Wise, Covariance Capital Management |
Thursday, February 7
| 7:45 am | Continental Breakfast- Exhibits Open |
| 7:45 am | Registration |
| 8:45 am | Welcoming Remarks Speaker(s): |
| 9:00 am | NACUBO-Commonfund Survey Review Speaker(s): |
| 9:30 am | Three Patterns to Deception and a Radical Path to Truth Speaker(s): Pam Meyer, author of LieSpotting.
Studies reveal that we encounter an average of 10-200 lies per day. Meyer’s presentations combine her extensive training and research with soft skills and business acumen to deliver an interactive presentation teaching attendees how to recognize the facial expressions, gestures and language of deception. Attendees leave a Meyer's presentation armed with tools for better buying, protecting, interviewing and negotiating.
The Leadership Series is supported by a generous contribution from TIAA-CREF. |
| 10:30 am | Refreshment Break- Exhibits Open |
| 10:45 am | Current Outlook and Forecast Speaker(s): |
| 11:45 am | Lunch |
| 1:00 pm | The View from Washington, DC Speaker(s): |
| 2:00 pm | Panel Discussion: How do we juggle and carry out all three- "Buy…Sell…and Spend…What?" Speaker(s): |
| 3:00 pm | Refreshment Break |
| 3:30 pm | Crash Risk: Investor Psychology and Opportunities Speaker(s): |
| 4:30 pm | Recognizing Major Change Speaker(s): |
| 5:30 pm | Networking Reception- Exhibits Open |
Friday, February 8
| 7:15 am | Continental Breakfast- Exhibits Open |
| 7:15 am | Registration |
| 8:15 am | Key Macro Issues Facing the Developed World and Emerging Markets - Medium-Term Investment Implications Speaker(s): |
| 9:30 am | Round Table Discussion for Endowments between $100-$500 million Speaker(s): These groups will have targeted discussions, facilitated by experienced participants, of the problems, challenges and solutions that they have faced in recent years. Emphasis will be placed upon a practical exchange of both problems and specific remedies for these problems PLEASE NOTE: These sessions are not open to members of the press and media. |
| 9:30 am | Round Table Discussion for Endowments less than $100 million Speaker(s): PLEASE NOTE: These sessions are not open to members of the press and media. |
| 9:30 am | Round Table Discussion for Endowments more than $500 million Speaker(s): PLEASE NOTE: These sessions are not open to members of the press and media. |
| 10:45 am | Refreshment Break |
| 11:15 am | Risk Management in a Dangerous Time Speaker(s): |
| 12:30 pm | Program Ends |
Hotel
The Waldorf Astoria
As one of the first 'grand hotels' to combine elegance with luxurious amenities and services, The Waldorf Astoria has been world renowned for over a century.For our guests' convenience, we offer luxurious guest rooms and select, spacious suites. Cheerful bedrooms, oversized marble bathrooms and original Art Deco motifs give our rooms a delightful residential ambience.
The Waldorf stands as a unique dining destination, with four distinctive restaurants, three lounges, and, of course, 24-hour room service. Superior hotel amenities and services include booking privileges at the incomparable Guerlain Spa at the Waldorf Astoria.
Hotel guests are encouraged to explore the hotel, a New York City landmark, considered an extraordinary living Art Deco museum.
Visit the The Waldorf Astoria website for details, including restaurants, amenities, and nearby attractions.
Room Rate
Single: $249.00
Double: $249.00
For reservations, call 212.355.3000.
Rates are guaranteed until 1/16/2013, subject to availability.
Please review our registration policies.
Please Note: NACUBO professional development programs are often sell-outs. Please secure air and hotel reservations only after confirmation of registration.
Speakers
Marvin Barth
Portfolio Strategist
Covariance Capital Management
SHOW FULL BIO » Marvin is the Senior Investment Manager - Portfolio Strategist of Covariance. As such, Marvin works with Covariance’s President and Chief Investment Officer, Co-Chief Investment Officer, and Chief Risk Officer to establish appropriate strategic asset allocations and lead consideration of tactical shifts in the asset allocation based on economic and market risks. Marvin possesses a breadth and depth of financial experience spanning liquid markets, private markets, multiple asset classes, academia, and a variety of market-focused policy roles. Prior to Covariance, Marvin was the Chief Investment Strategist at Tennenbaum Capital Partners, a boutique credit manager of private, closed-end distressed and special situation investments. Marvin brought a “top-down” perspective to the firm’s “bottom-up” investment process and ran a fully discretionary global macro hedge fund. Earlier in his career, Marvin was the Global Currency Economist for Citigroup, responsible for the bank’s medium-term foreign exchange views and advising institutional clients globally on currency investments and exposures. Additionally, Marvin has equity research experience at boutique equity manager Nicholas Applegate Capital Management. Much of Marvin’s career has been in market-oriented policy roles. From 2006-2008, Marvin was the U.S. Department of the Treasury’s Chief Economist for International Affairs where he advised the Secretary of the Treasury on U.S. dollar policy, oil and commodity prices, international financial and economic developments, and led an interagency team assessing foreign financial and economic risks. Earlier, Marvin was an international financial and emerging markets economist at the Federal Reserve Board in Washington, DC, and at the Bank for International Settlements in Basel, Switzerland. Marvin has a Ph.D. and M.A. in Economics from the University of California, San Diego; and a B.A. in Economics from the University of California, Berkeley.
Portfolio Strategist
Covariance Capital Management
SHOW FULL BIO » Marvin is the Senior Investment Manager - Portfolio Strategist of Covariance. As such, Marvin works with Covariance’s President and Chief Investment Officer, Co-Chief Investment Officer, and Chief Risk Officer to establish appropriate strategic asset allocations and lead consideration of tactical shifts in the asset allocation based on economic and market risks. Marvin possesses a breadth and depth of financial experience spanning liquid markets, private markets, multiple asset classes, academia, and a variety of market-focused policy roles. Prior to Covariance, Marvin was the Chief Investment Strategist at Tennenbaum Capital Partners, a boutique credit manager of private, closed-end distressed and special situation investments. Marvin brought a “top-down” perspective to the firm’s “bottom-up” investment process and ran a fully discretionary global macro hedge fund. Earlier in his career, Marvin was the Global Currency Economist for Citigroup, responsible for the bank’s medium-term foreign exchange views and advising institutional clients globally on currency investments and exposures. Additionally, Marvin has equity research experience at boutique equity manager Nicholas Applegate Capital Management. Much of Marvin’s career has been in market-oriented policy roles. From 2006-2008, Marvin was the U.S. Department of the Treasury’s Chief Economist for International Affairs where he advised the Secretary of the Treasury on U.S. dollar policy, oil and commodity prices, international financial and economic developments, and led an interagency team assessing foreign financial and economic risks. Earlier, Marvin was an international financial and emerging markets economist at the Federal Reserve Board in Washington, DC, and at the Bank for International Settlements in Basel, Switzerland. Marvin has a Ph.D. and M.A. in Economics from the University of California, San Diego; and a B.A. in Economics from the University of California, Berkeley.
Nolan Bean
Managing Principal
Fund Evaluation Group, LLC
Managing Principal
Fund Evaluation Group, LLC
Jim Bethea
Director of Investments
University of Iowa
Director of Investments
University of Iowa
Dean W. Currie
Vice President Business & Finance
California Institute of Technology
Vice President Business & Finance
California Institute of Technology
Charley Ellis
Partner
The Partners of 63
SHOW FULL BIO » Charles D. Ellis’s professional career centered on Greenwich Associates, the international strategy consulting firm he founded in 1972. It grew in the 30 years he was Managing Partner to serve the leading firms in over 130 professional financial markets around the world. He now serves as a consultant on investing to large institutional investors, government organizations, and wealthy families, as a director of several small businesses and as Managing Partner of a pro bono partnership of nearly 100 Harvard Business School classmates and friends. Charley chairs the Whitehead Institute for Biomedical Research, where he also chairs the investment committee, and is a Trustee of the Robert Wood Johnson Foundation, where he chairs the finance committee. He served as a successor trustee of Yale University, where he chaired the investment committee, as trustee of Phillips Exeter Academy and Eagle Hill School, and as an Overseer of the Stern Schools of Business at New York University. He has also served on the Visiting Committee of the Harvard Business School. A graduate of Exeter and Yale College, Charley earned an MBA (with distinction) at Harvard Business School and a Ph.D. at New York University. The author of 16 books, including The Partnership: The Making of Goldman Sachs, Joe Wilson and the Creation of Xerox, CAPITAL, and Winning the Loser’s Game and, with Burt Malkiel, Elements of Investing, he has taught the advanced course in investment management at both Yale School of Management and Harvard Business School, and he is one of 11 individuals honored for lifetime contributions to the investment profession.
Partner
The Partners of 63
SHOW FULL BIO » Charles D. Ellis’s professional career centered on Greenwich Associates, the international strategy consulting firm he founded in 1972. It grew in the 30 years he was Managing Partner to serve the leading firms in over 130 professional financial markets around the world. He now serves as a consultant on investing to large institutional investors, government organizations, and wealthy families, as a director of several small businesses and as Managing Partner of a pro bono partnership of nearly 100 Harvard Business School classmates and friends. Charley chairs the Whitehead Institute for Biomedical Research, where he also chairs the investment committee, and is a Trustee of the Robert Wood Johnson Foundation, where he chairs the finance committee. He served as a successor trustee of Yale University, where he chaired the investment committee, as trustee of Phillips Exeter Academy and Eagle Hill School, and as an Overseer of the Stern Schools of Business at New York University. He has also served on the Visiting Committee of the Harvard Business School. A graduate of Exeter and Yale College, Charley earned an MBA (with distinction) at Harvard Business School and a Ph.D. at New York University. The author of 16 books, including The Partnership: The Making of Goldman Sachs, Joe Wilson and the Creation of Xerox, CAPITAL, and Winning the Loser’s Game and, with Burt Malkiel, Elements of Investing, he has taught the advanced course in investment management at both Yale School of Management and Harvard Business School, and he is one of 11 individuals honored for lifetime contributions to the investment profession.
Don Fehrs
Director, Research
Evanston Capital Management, LLC
SHOW FULL BIO » Don Fehrs joined hedge fund-of-funds firm Evanston Capital in May 2006 and is Principal - Risk management and Research. Prior to this, he was the Chief Investment Officer at Cornell University, where he managed the University’s investment assets, consisting of the endowment and other funds totaling in excess of $4 billion. Before joining Cornell in 1999, Don was at the University of Notre Dame, first as a member of the finance faculty and later as a Senior Investment Director. He started his career in the auditing and treasury divisions of Prudential Insurance, and has a bachelor’s degree in economics from Cornell, an MBA from Mercer University, and a Ph.D. in finance from Florida State University.
Director, Research
Evanston Capital Management, LLC
SHOW FULL BIO » Don Fehrs joined hedge fund-of-funds firm Evanston Capital in May 2006 and is Principal - Risk management and Research. Prior to this, he was the Chief Investment Officer at Cornell University, where he managed the University’s investment assets, consisting of the endowment and other funds totaling in excess of $4 billion. Before joining Cornell in 1999, Don was at the University of Notre Dame, first as a member of the finance faculty and later as a Senior Investment Director. He started his career in the auditing and treasury divisions of Prudential Insurance, and has a bachelor’s degree in economics from Cornell, an MBA from Mercer University, and a Ph.D. in finance from Florida State University.
Peg C. Ferber
Vice President Finance & Treasurer
Nazareth College of Rochester
SHOW FULL BIO » Margaret Cass Ferber is the Vice President for Finance and Treasurer at Nazareth College in Rochester, New York. She previously served as Associate Vice President for Finance and Treasurer of Rochester Institute of Technology, and in financial leadership roles at Wheaton College and the University of Rochester. She began her career with Coopers & Lybrand, and later joined their Higher Education Consulting Practice in Boston, MA. Ms. Ferber currently serves as the President of the Upstate New York College Collaboration, a 19-member consortium working together to enhance efficiency and effectiveness of service delivery at member institutions. Ms. Ferber is Past President of the Eastern Association of College and University Business Officers, and was honored to be the recipient of the association’s Distinguished Service Award in 2011. She also served a board member of the National Association of College and University Business Officers (2005-2008), and has served on a number of NACUBO committees, including the Financial Resources Strategic Planning Team (2000-2001) and the Professional Development Committee (1994 to 1995). Ms. Ferber was the recipient of the Rochester Business Journal’s Financial Executive of the Year award in the non-profit category in 2010. She has served in a variety of community organizations including the United Way of Greater Rochester, Hillside Family of Agencies, and others. Ms. Ferber holds an MBA, with honors, from Boston University, and a BS in Accounting, magna cum laude, from Binghamton University.
Vice President Finance & Treasurer
Nazareth College of Rochester
SHOW FULL BIO » Margaret Cass Ferber is the Vice President for Finance and Treasurer at Nazareth College in Rochester, New York. She previously served as Associate Vice President for Finance and Treasurer of Rochester Institute of Technology, and in financial leadership roles at Wheaton College and the University of Rochester. She began her career with Coopers & Lybrand, and later joined their Higher Education Consulting Practice in Boston, MA. Ms. Ferber currently serves as the President of the Upstate New York College Collaboration, a 19-member consortium working together to enhance efficiency and effectiveness of service delivery at member institutions. Ms. Ferber is Past President of the Eastern Association of College and University Business Officers, and was honored to be the recipient of the association’s Distinguished Service Award in 2011. She also served a board member of the National Association of College and University Business Officers (2005-2008), and has served on a number of NACUBO committees, including the Financial Resources Strategic Planning Team (2000-2001) and the Professional Development Committee (1994 to 1995). Ms. Ferber was the recipient of the Rochester Business Journal’s Financial Executive of the Year award in the non-profit category in 2010. She has served in a variety of community organizations including the United Way of Greater Rochester, Hillside Family of Agencies, and others. Ms. Ferber holds an MBA, with honors, from Boston University, and a BS in Accounting, magna cum laude, from Binghamton University.
Xavier Gabaix
Martin J. Gruber Professor of Finance
New York University
SHOW FULL BIO » Xavier Gabaix is Martin J. Gruber Professor of Finance at New York University’s Stern School of Business. He received his undergraduate degree in mathematics from the Ecole Normale Supérieure (Paris) and obtained his PhD in economics from Harvard University in 1999. His research focuses on asset pricing, executive compensation, macroeconomics, and the causes and consequences of seemingly irrational economic behavior. In 2009 The Economist selected him as one of the top eight young economists of the decade. He received the Fischer Black prize given every two years to the best financial economist under 40, the Bernacer prize given to best European economist under 40 working in macroeconomics and finance, and the Lagrange Prize for research on complex systems. His research has been published in the American Economic Review, Econometrica, the Quarterly Journal of Economics, the Journal of Finance, and Nature. He is a Research Associate of the National Bureau of Economic Research and of the Center for Economic Policy Research.
Martin J. Gruber Professor of Finance
New York University
SHOW FULL BIO » Xavier Gabaix is Martin J. Gruber Professor of Finance at New York University’s Stern School of Business. He received his undergraduate degree in mathematics from the Ecole Normale Supérieure (Paris) and obtained his PhD in economics from Harvard University in 1999. His research focuses on asset pricing, executive compensation, macroeconomics, and the causes and consequences of seemingly irrational economic behavior. In 2009 The Economist selected him as one of the top eight young economists of the decade. He received the Fischer Black prize given every two years to the best financial economist under 40, the Bernacer prize given to best European economist under 40 working in macroeconomics and finance, and the Lagrange Prize for research on complex systems. His research has been published in the American Economic Review, Econometrica, the Quarterly Journal of Economics, the Journal of Finance, and Nature. He is a Research Associate of the National Bureau of Economic Research and of the Center for Economic Policy Research.
Bob Huth
VP for Business Affairs & CFO
Stetson University
VP for Business Affairs & CFO
Stetson University
William Jarvis
Managing Director
Commonfund
SHOW FULL BIO » William F. Jarvis, Managing Director, Commonfund Institute, is responsible for the Institute’s research, written analysis and client publications. A financial services executive and attorney, Bill has worked with J.P. Morgan, where he spent 13 years as an investment banker in New York and Tokyo; Greenwich Associates, where he advised leading investment management firms and led the fielding of the first Commonfund Benchmarks Study; and Davis Polk & Wardwell, where he provided legal advice to global banks and securities firms. Prior to joining Commonfund in 2006, Bill served as Chief Operating Officer of a privately-held hedge fund manager based in New York City. Bill holds a B.A. in English Literature from Yale University, a J.D. from the Northwestern University School of Law, and an M.B.A. from the J.L. Kellogg Graduate School of Management.
Managing Director
Commonfund
SHOW FULL BIO » William F. Jarvis, Managing Director, Commonfund Institute, is responsible for the Institute’s research, written analysis and client publications. A financial services executive and attorney, Bill has worked with J.P. Morgan, where he spent 13 years as an investment banker in New York and Tokyo; Greenwich Associates, where he advised leading investment management firms and led the fielding of the first Commonfund Benchmarks Study; and Davis Polk & Wardwell, where he provided legal advice to global banks and securities firms. Prior to joining Commonfund in 2006, Bill served as Chief Operating Officer of a privately-held hedge fund manager based in New York City. Bill holds a B.A. in English Literature from Yale University, a J.D. from the Northwestern University School of Law, and an M.B.A. from the J.L. Kellogg Graduate School of Management.
Kevin Kenny
Chief Investment Officer
The Carlyle Group
SHOW FULL BIO » Mr. Kenny co-founded Emerging Sovereign Group in 2002. Prior to co-founding ESG, Mr. Kenny had ten years of experience at Morgan Stanley from 1990 to 1992 and 1994 to 2002. Mr. Kenny was Managing Director and Head of Global EM Debt Trading and Syndicate from 1996 to 2002, with additional oversight of Global Research from 1999 to 2002. From 1994 to 1996 he was Head Trader of the Eastern Europe, Africa and Asia time zones. He was the senior risk manager as Head of Global Trading since 1996, and assumed oversight of Emerging Market Research in 2000. Mr. Kenny received a BA in Political Science from Duke University in 1989 and an MBA from the Wharton School at the University of Pennsylvania in 1994.
Chief Investment Officer
The Carlyle Group
SHOW FULL BIO » Mr. Kenny co-founded Emerging Sovereign Group in 2002. Prior to co-founding ESG, Mr. Kenny had ten years of experience at Morgan Stanley from 1990 to 1992 and 1994 to 2002. Mr. Kenny was Managing Director and Head of Global EM Debt Trading and Syndicate from 1996 to 2002, with additional oversight of Global Research from 1999 to 2002. From 1994 to 1996 he was Head Trader of the Eastern Europe, Africa and Asia time zones. He was the senior risk manager as Head of Global Trading since 1996, and assumed oversight of Emerging Market Research in 2000. Mr. Kenny received a BA in Political Science from Duke University in 1989 and an MBA from the Wharton School at the University of Pennsylvania in 1994.
Lawrence Kochard
Chief Information Officer
University of Virginia Investment Management Company
SHOW FULL BIO » Lawrence Kochard is the Chief Executive Officer / Chief Investment Officer of UVIMCO. As Chief Executive Officer, Larry provides leadership for all aspects of UVIMCO’s operations and serves as UVIMCO’s primary representative to the University, related foundations and the public. As Chief Investment Officer, Larry is responsible for the investment management of UVIMCO’s Long Term Pool, overseeing the asset allocation, portfolio management, risk management and manager selection activities of the investment staff. Prior to joining UVIMCO, Larry served as Chief Investment Officer at Georgetown University. From 2001 to 2004, he was Managing Director of Equity and Hedge Fund Investments for the Virginia Retirement System. From 1997 to 2000, he taught in the McIntire School of Commerce at the University of Virginia, first as an adjunct and later full time as an assistant professor. Larry received his BA in Economics from the College of William & Mary, an MBA from the University of Rochester, and an MA and PhD in Economics from the University of Virginia. He is a CFA charter holder.
Chief Information Officer
University of Virginia Investment Management Company
SHOW FULL BIO » Lawrence Kochard is the Chief Executive Officer / Chief Investment Officer of UVIMCO. As Chief Executive Officer, Larry provides leadership for all aspects of UVIMCO’s operations and serves as UVIMCO’s primary representative to the University, related foundations and the public. As Chief Investment Officer, Larry is responsible for the investment management of UVIMCO’s Long Term Pool, overseeing the asset allocation, portfolio management, risk management and manager selection activities of the investment staff. Prior to joining UVIMCO, Larry served as Chief Investment Officer at Georgetown University. From 2001 to 2004, he was Managing Director of Equity and Hedge Fund Investments for the Virginia Retirement System. From 1997 to 2000, he taught in the McIntire School of Commerce at the University of Virginia, first as an adjunct and later full time as an assistant professor. Larry received his BA in Economics from the College of William & Mary, an MBA from the University of Rochester, and an MA and PhD in Economics from the University of Virginia. He is a CFA charter holder.
Christopher Laing
Managing Director
CornerStone Partners, LLC
Managing Director
CornerStone Partners, LLC
John J. Lively
Subject Matter Expert
NACUBO
Subject Matter Expert
NACUBO
Cheryl Maliwanag
Director
Pathway Capital Management LLC
Director
Pathway Capital Management LLC
Pamela Meyer
Certified Fraud Examiner and Best Selling Author of LieSpotting
Certified Fraud Examiner and Best Selling Author of LieSpotting
John A. Palmucci
Vice President for Finance Emeritus
Loyola University Maryland
SHOW FULL BIO » JOHN A. PALMUCCI retired on June 30, 2010 as the Vice President for Finance and Treasurer at Loyola University Maryland where he served in that capacity since 1994. He served as the College’s Chief Financial Officer and Corporate Treasurer, reporting to the President. John participated as a member of the executive management team of Loyola University, providing leadership and direction for a major operating division enabling fulfillment of the institution’s mission and goals through sound fiscal management, prudent stewardship of resources and student-centered delivery of services. Prior to his position at Loyola University he held the position of Vice President, Fiscal Affairs at Merrimack College from 1980 to 1994. For eight years prior to his tenure at Merrimack College, John served as Registrar and Dean of Administration at Northern Essex Community College. John also held a variety of positions at Northeastern University for six years including Director, Undergraduate Program; Assistant Dean, College of Business Administration; Assistant Director of Student Activities and he also served as an Instructor of Accounting, College of Business John maintains involvement with several professional organizations in a variety of leadership capacities such as the National Association of College and University Business Officers, Eastern Association of College and University Business Officers, the Association of Jesuit College and University Business Officers, Middle States Commission on Higher Education, the New England Association of Schools and Colleges, The Education Resource Institute, the Investment Management Institute, The Opal Financial Group, The Archdiocese of Baltimore Audit Committee and The Associated Sulpicians Finance Committee. He was awarded the EACUBO Distinguished Service Award in 2000 and the NACUBO Distinguished Business Officer Award in 2003. He received the John Henry Newman Medal at the Loyola University commencement exercises on May 15, 2010. John received his B.S., Business Management and his M.B.A. from Northeastern University.
Vice President for Finance Emeritus
Loyola University Maryland
SHOW FULL BIO » JOHN A. PALMUCCI retired on June 30, 2010 as the Vice President for Finance and Treasurer at Loyola University Maryland where he served in that capacity since 1994. He served as the College’s Chief Financial Officer and Corporate Treasurer, reporting to the President. John participated as a member of the executive management team of Loyola University, providing leadership and direction for a major operating division enabling fulfillment of the institution’s mission and goals through sound fiscal management, prudent stewardship of resources and student-centered delivery of services. Prior to his position at Loyola University he held the position of Vice President, Fiscal Affairs at Merrimack College from 1980 to 1994. For eight years prior to his tenure at Merrimack College, John served as Registrar and Dean of Administration at Northern Essex Community College. John also held a variety of positions at Northeastern University for six years including Director, Undergraduate Program; Assistant Dean, College of Business Administration; Assistant Director of Student Activities and he also served as an Instructor of Accounting, College of Business John maintains involvement with several professional organizations in a variety of leadership capacities such as the National Association of College and University Business Officers, Eastern Association of College and University Business Officers, the Association of Jesuit College and University Business Officers, Middle States Commission on Higher Education, the New England Association of Schools and Colleges, The Education Resource Institute, the Investment Management Institute, The Opal Financial Group, The Archdiocese of Baltimore Audit Committee and The Associated Sulpicians Finance Committee. He was awarded the EACUBO Distinguished Service Award in 2000 and the NACUBO Distinguished Business Officer Award in 2003. He received the John Henry Newman Medal at the Loyola University commencement exercises on May 15, 2010. John received his B.S., Business Management and his M.B.A. from Northeastern University.
Catherine Piez
Chief Investment Officer
Brookings Institution
SHOW FULL BIO » CATHERINE PIEZ, Chief Investment Officer at The Brookings Institution, is responsible for overseeing the investment portfolio and implementing the policies of the Investment Committee of the Board. Before coming to Brookings in 2006, Catherine spent seven years studying investment management firms while advising clients on investment management firms as a Research Consultant and Managing Director at Cambridge Associates and eleven years in a series of positions monitoring the endowment portfolio and participating in the financial administration of the Carnegie Institution of Washington. Ms. Piez is a member of the CFA Institute and the CFA Society of Washington. She has held the Chartered Financial Analyst designation since 1997 and graduated with a B.A. from Yale University in 1986. The Brookings Institution is a private, nonprofit organization devoted to independent research and innovative policy solutions. Originally founded in 1916 and reformed in 1927 to its present structure, Brookings is among the oldest and largest “think tanks” headquartered in Washington, D.C. Brookings’ mission is to conduct high-quality, independent research in the broad fields of economics, government and the political and social sciences and, based on that research, to impact public policy by promoting the public discussion and providing practical recommendations to decision-makers.
Chief Investment Officer
Brookings Institution
SHOW FULL BIO » CATHERINE PIEZ, Chief Investment Officer at The Brookings Institution, is responsible for overseeing the investment portfolio and implementing the policies of the Investment Committee of the Board. Before coming to Brookings in 2006, Catherine spent seven years studying investment management firms while advising clients on investment management firms as a Research Consultant and Managing Director at Cambridge Associates and eleven years in a series of positions monitoring the endowment portfolio and participating in the financial administration of the Carnegie Institution of Washington. Ms. Piez is a member of the CFA Institute and the CFA Society of Washington. She has held the Chartered Financial Analyst designation since 1997 and graduated with a B.A. from Yale University in 1986. The Brookings Institution is a private, nonprofit organization devoted to independent research and innovative policy solutions. Originally founded in 1916 and reformed in 1927 to its present structure, Brookings is among the oldest and largest “think tanks” headquartered in Washington, D.C. Brookings’ mission is to conduct high-quality, independent research in the broad fields of economics, government and the political and social sciences and, based on that research, to impact public policy by promoting the public discussion and providing practical recommendations to decision-makers.
Ken Redd
Director, Research and Policy Analysis
NACUBO
Director, Research and Policy Analysis
NACUBO
Jack Rich
Chief Investment Officer and President ACIMCO
Abilene Christian University
SHOW FULL BIO » Jack Rich was appointed President and Chief Investment Officer of ACIMCO (Abilene Christian University Investment Management Company) in January 2009, overseeing Abilene Christian University's investment strategies. From 1991 to 2006, he served in a variety of positions at ACU, including Executive Vice President and Vice President for finance and administration. Prior to beginning work at ACU, he worked in real estate development, banking and public accounting. Rich received a Bachelor of Business Administration from ACU and an M.B.A. from the University of Texas San Antonio. He is a CPA and earned the right to use the CFA designation in 2006. Rich serves on the boards of the Community Foundation of Abilene, Abilene Christian Schools and Kenley School.
Chief Investment Officer and President ACIMCO
Abilene Christian University
SHOW FULL BIO » Jack Rich was appointed President and Chief Investment Officer of ACIMCO (Abilene Christian University Investment Management Company) in January 2009, overseeing Abilene Christian University's investment strategies. From 1991 to 2006, he served in a variety of positions at ACU, including Executive Vice President and Vice President for finance and administration. Prior to beginning work at ACU, he worked in real estate development, banking and public accounting. Rich received a Bachelor of Business Administration from ACU and an M.B.A. from the University of Texas San Antonio. He is a CPA and earned the right to use the CFA designation in 2006. Rich serves on the boards of the Community Foundation of Abilene, Abilene Christian Schools and Kenley School.
David Russell
Managing Director
CornerStone Partners, LLC
Managing Director
CornerStone Partners, LLC
Kevin Schuyler
Director
CornerStone Partners, LLC
Director
CornerStone Partners, LLC
Paul Singer
Founder, Chief Executive Officer, and Co-Chief Investment Officer
Elliott Management Corporation
SHOW FULL BIO » Paul E. Singer is the founder and president of Elliott Management Corporation, a New York–based trading firm. Launched in 1977 with $1 million of capital, total assets under management for the Elliott funds have grown to approximately $20 billion today. The compound annual rate of return for Elliott’s flagship fund from inception through June 2012 is 14.0% net to investors, compared with 10.8% for the S&P 500 (with dividends reinvested) in the same period with roughly one-third the volatility. Elliott also has affiliated offices in London, Hong Kong and Tokyo. The Wall Street Journal has recognized Elliott for its early forecasting of the systemic economic crisis of 2008. The New York Times has written that “of all the hedge fund managers on Wall Street, [Elliott] is one of the most revered.” Mr. Singer is on the board of Harvard Medical School and of Commentary Magazine, and on the advisory board of the James Madison Program in American Ideals and Institutions at Princeton University. He is also chairman of the Manhattan Institute.
Founder, Chief Executive Officer, and Co-Chief Investment Officer
Elliott Management Corporation
SHOW FULL BIO » Paul E. Singer is the founder and president of Elliott Management Corporation, a New York–based trading firm. Launched in 1977 with $1 million of capital, total assets under management for the Elliott funds have grown to approximately $20 billion today. The compound annual rate of return for Elliott’s flagship fund from inception through June 2012 is 14.0% net to investors, compared with 10.8% for the S&P 500 (with dividends reinvested) in the same period with roughly one-third the volatility. Elliott also has affiliated offices in London, Hong Kong and Tokyo. The Wall Street Journal has recognized Elliott for its early forecasting of the systemic economic crisis of 2008. The New York Times has written that “of all the hedge fund managers on Wall Street, [Elliott] is one of the most revered.” Mr. Singer is on the board of Harvard Medical School and of Commentary Magazine, and on the advisory board of the James Madison Program in American Ideals and Institutions at Princeton University. He is also chairman of the Manhattan Institute.
Sally J. Staley
Chief Investment Officer
Case Western Reserve University
SHOW FULL BIO » Sally J. Staley Sally Staley joined Case Western Reserve University’s investment office in 2002 and became Chief Investment Officer in 2006. She manages a staff of six professionals overseeing investment of the University’s endowment and pension assets with a focus on understanding risk and managing to outcomes. She is also the principal liaison with the Investment Committee in formulating the University’s investment and spending policies and works closely with Development staff to communicate investment results and policy to donors. Sally began her career in international bond market research and institutional sales with Salomon Brothers and Merrill Lynch followed by a transition to investment management at the State of Wisconsin Investment Board where she established the public pension fund’s international fixed income program and managed an international bond portfolio. Sally later worked as Senior Consultant with the investment management consulting practice of PricewaterhouseCoopers. She holds a Master of International Affairs degree from Columbia University and a Bachelor of Arts degree from The College of Wooster where she currently serves as a Trustee and Investment Committee member. She is also a board member for Great Lakes Theater and the Saint Luke’s Foundation of Cleveland.
Chief Investment Officer
Case Western Reserve University
SHOW FULL BIO » Sally J. Staley Sally Staley joined Case Western Reserve University’s investment office in 2002 and became Chief Investment Officer in 2006. She manages a staff of six professionals overseeing investment of the University’s endowment and pension assets with a focus on understanding risk and managing to outcomes. She is also the principal liaison with the Investment Committee in formulating the University’s investment and spending policies and works closely with Development staff to communicate investment results and policy to donors. Sally began her career in international bond market research and institutional sales with Salomon Brothers and Merrill Lynch followed by a transition to investment management at the State of Wisconsin Investment Board where she established the public pension fund’s international fixed income program and managed an international bond portfolio. Sally later worked as Senior Consultant with the investment management consulting practice of PricewaterhouseCoopers. She holds a Master of International Affairs degree from Columbia University and a Bachelor of Arts degree from The College of Wooster where she currently serves as a Trustee and Investment Committee member. She is also a board member for Great Lakes Theater and the Saint Luke’s Foundation of Cleveland.
A.B. Stoddard
Associate Editor and Columnist
The Hill Newspaper
Associate Editor and Columnist
The Hill Newspaper
Judy Van Gorden
Chair, Endowment Management Forum Committee 2012
SHOW FULL BIO » Bio Judy Van Gorden is President of New Treasury Solutions, a consulting firm, and works with for-profit and not-for-profit institutions to identify and implement solutions to improve management of debt, investments and cash resources. From 2006 – 2010, Ms. Van Gorden served as the Senior Vice President, Chief Financial Officer and Treasurer of the Arizona State University Foundation, a 501(c)3 that provides fundraising and advocacy services for the benefit of ASU. Previously, she was named Treasurer and Chief Investment Officer Emerita in 2004 by the Regents of the University of Colorado after serving for eleven years in this position. At CU she was responsible for the university’s large investment and debt portfolios, and for all banking services for the CU system and campuses. She served on the University of Colorado Foundation investment committee, the board of directors of the university’s real estate supporting organizations and tech transfer supporting organizations. Prior to CU, she served as Assistant Treasurer for Cornell University and held positions in strategic planning and budgeting with a number of Fortune 500 companies. Judy has volunteered with NACUBO throughout her career, supporting their educational efforts in investment management, debt management and cash management and the NACUBO endowment study. Judy has a B.S. from Purdue University and an M.B.A. from the Wharton School of the University of Pennsylvania. She is a recipient of the Rodney Adams Award from NACUBO and the CommonFund for endowment management excellence.
Chair, Endowment Management Forum Committee 2012
SHOW FULL BIO » Bio Judy Van Gorden is President of New Treasury Solutions, a consulting firm, and works with for-profit and not-for-profit institutions to identify and implement solutions to improve management of debt, investments and cash resources. From 2006 – 2010, Ms. Van Gorden served as the Senior Vice President, Chief Financial Officer and Treasurer of the Arizona State University Foundation, a 501(c)3 that provides fundraising and advocacy services for the benefit of ASU. Previously, she was named Treasurer and Chief Investment Officer Emerita in 2004 by the Regents of the University of Colorado after serving for eleven years in this position. At CU she was responsible for the university’s large investment and debt portfolios, and for all banking services for the CU system and campuses. She served on the University of Colorado Foundation investment committee, the board of directors of the university’s real estate supporting organizations and tech transfer supporting organizations. Prior to CU, she served as Assistant Treasurer for Cornell University and held positions in strategic planning and budgeting with a number of Fortune 500 companies. Judy has volunteered with NACUBO throughout her career, supporting their educational efforts in investment management, debt management and cash management and the NACUBO endowment study. Judy has a B.S. from Purdue University and an M.B.A. from the Wharton School of the University of Pennsylvania. She is a recipient of the Rodney Adams Award from NACUBO and the CommonFund for endowment management excellence.
James R. Wilson
Vice President Business & Finance
Muskingum College
Vice President Business & Finance
Muskingum College
Scott W. Wise
President and Chief Investment Officer
Covariance Capital Management
SHOW FULL BIO » Scott is the President and Chief Investment Officer of Covariance. Prior to leading Covariance, Scott spent 21 years in the role of chief investment officer of Rice University (July 1989-June 2010). At Rice, Scott was responsible for the management and oversight of all investment matters, including asset allocation, sourcing investment opportunities, investment manager selections/monitoring and investment performance. In this capacity, Scott broadened the endowment’s asset allocation to include venture capital, private equity and hedge fund investment portfolios, as well as real estate, timber and oil/gas investments. Additionally, he worked with banks on securities custody, cash management and other banking matters, and developed and monitored endowment spending policy. During Scott’s tenure as chief investment officer, the assets under management of the Rice University endowment increased from approximately $990 million in 1989 to $3.8 billion in 2010. In recognition of the endowment’s success, John Baschab and Jon Piot dedicated a chapter of their 2010 book, Outperform: Inside the Investment Strategy of Billion Dollar Endowments, to Scott’s investment philosophy and the Rice endowment’s notable track record. In 2006, Scott was a finalist for Institutional Investor magazine’s Award for Excellence in Investment Management by Endowments. Scott has served on the Board of Directors for HCC Insurance Holdings, Inc. (NYSE listed), the Investment Advisory Board to the Texas State Comptroller and the Board of Trustees for St. John’s School and Episcopal High School. Scott received his Masters in Professional Accounting from The University of Texas at Austin and his B.B.A. in Economics from Rice University.
President and Chief Investment Officer
Covariance Capital Management
SHOW FULL BIO » Scott is the President and Chief Investment Officer of Covariance. Prior to leading Covariance, Scott spent 21 years in the role of chief investment officer of Rice University (July 1989-June 2010). At Rice, Scott was responsible for the management and oversight of all investment matters, including asset allocation, sourcing investment opportunities, investment manager selections/monitoring and investment performance. In this capacity, Scott broadened the endowment’s asset allocation to include venture capital, private equity and hedge fund investment portfolios, as well as real estate, timber and oil/gas investments. Additionally, he worked with banks on securities custody, cash management and other banking matters, and developed and monitored endowment spending policy. During Scott’s tenure as chief investment officer, the assets under management of the Rice University endowment increased from approximately $990 million in 1989 to $3.8 billion in 2010. In recognition of the endowment’s success, John Baschab and Jon Piot dedicated a chapter of their 2010 book, Outperform: Inside the Investment Strategy of Billion Dollar Endowments, to Scott’s investment philosophy and the Rice endowment’s notable track record. In 2006, Scott was a finalist for Institutional Investor magazine’s Award for Excellence in Investment Management by Endowments. Scott has served on the Board of Directors for HCC Insurance Holdings, Inc. (NYSE listed), the Investment Advisory Board to the Texas State Comptroller and the Board of Trustees for St. John’s School and Episcopal High School. Scott received his Masters in Professional Accounting from The University of Texas at Austin and his B.B.A. in Economics from Rice University.
Mark Zandi
Chief Economist
Moody's Analytics
Chief Economist
Moody's Analytics
Program Overview
2013 Endowment Management Forum
February 6-8, 2013
Estimated CPEs:15
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