In 2018, Valbona Schwab was voted most likely future chief investment officer in II’s Next CIO competition. Now, she’s fulfilling that promise by joining Children's Health in Dallas as its new EVP and investment chief.

Schwab, who started the role on Wednesday, is the healthcare system’s first CIO since Ken Lee left Chldren’s in December 2024 to rebuild Caltech’s $5 billion investment office. Schwab will oversee the endowment-style operation that Lee designed from the ground up at Children’s. 

Schwab cited Children’s Health’s “well-invested, highly established team with a strong track record and disciplined approach” as a primary reason for joining the hospital system. “I’ve spent a large portion of my career in health care, and it’s where my passion lies," she said. “I grew up in a family of doctors, living next to a hospital, and my mother, who is a surgeon, was both my earliest inspiration and the greatest influence in my life.” 

The former Grinnell College allocator will be responsible for managing the healthcare system’s long-term investment activities, including strategy, governance, portfolio construction, manager sourcing and due diligence, and operations. She will work with the Children’s Health investment committee and report to CFO Robert Fries, who called Schwab “a proven leader with deep experience strengthening governance, building high-performing teams, and managing complex pools of capital.” 

Previously, Schwab served as deputy CIO at Grinnell College, where she restructured the institution’s $2.8 billion endowment. Prior to Grinnell, she was managing director at Beth Israel Lahey Health. She was head of research at Mass General Brigham earlier in her career.

Executive recruiting firm Rowe Global conducted the search on behalf of Children’s. “Children’s made an informed and conscientious hire with Valbona, and they made a great match for their team,” said Bill Rowe, CEO of Rowe Global. “I just think they match very well. They’re lucky to find each other.”