Other graduates of elite prep schools may return to teach. Amy Falls went back to Phillips Academy Andover (she was in the class of 1982) in 2005 to manage money.
As the schools first official CIO, Falls, a former II-ranked Morgan Stanley high-yield bond analyst, introduced sophisticated management techniques to Andovers endowment program. With that school assignment now completed, Falls, 46, is leaving to become CIO and vice president for investments at New Yorks Rockefeller University.
A virtual think tank of a school, Rockefeller already has a robust investment program for its $1.8 billion endowment (more than twice the size of Andovers). Falls, however, looks forward to addressing what she sees as the most pressing challenge for all endowments: creating a truly global portfolio. It is very hard to do, she says, because you want to make the right investment with the right partners and the right countries at the right time.
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