Dartmouth College today named
Alice Ruth as chief investment officer to manage its $4.5
billion endowment and $1 billion of assets tied to other
Ruth served as founding CIO of Bloombergs family
office and charitable funds operation, Willett Advisors, from
2008 until December, according to her LinkedIn
profile. She has also served on Dartmouths investment
committee since 2011. A spokesperson for the university said
Ruth will resign her member role.
Hiring internal investment staff from the governance
committee is unusual, without precedent in the many senior
hires elite endowments have made in recent years.
The universitys current CIO, Pamela Peedin, chose to
step down to spend more time with her family, according to
Dartmouth, which in November
announced its search for her replacement. She will work
part-time through June, the end of its fiscal year, to assist
Ruth with transitioning the Boston-based investment office and
its staff of 13, the spokesperson said.
Ruth begins her new job in April, reporting to Phil
Hanlon, president of Dartmouth in Hanover, New Hampshire.
Alices accomplishments are legendary in the
investment community, he said of Ruth, an alumnus of the
Ivy League university. We are thrilled to welcome her
back to Dartmouth. The investment committee chair Richard
Kimball likewise highlighted Ruths stellar track
record, though the highly secretive Willett Advisors has
never released performance figures for its portfolio under
Dartmouth, like most of its peers, suffered a small loss
last year. The universitys investments lost 1.9 percent
in fiscal 2016, but had gained 8.7 percent on an annualized
basis over the previous five years.