Dartmouth's Daily Blog
News, commentary, criticism and praise for the College on the Hill, enlivened with history, culture and travel when we feel so moved.
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All in the Family: CIO Alice Ruth ‘83
Following the departure of the College’s Chief Investment Officer Pam Peedin ‘89 (T ‘98) — who let it be known on November 9 that she would leave this June — the administration put together a search committee:
The College has hired executive search firm David Barrett Partners to assist with the search. Kimball, a founding general partner of the growth equity firm Technology Crossover Ventures, will chair the search committee and work with search committee members Trustee Beth Cogan Fascitelli ‘80 and Alice Ruth ‘83, both members of the board’s investment committee. [Emphasis added]
And today Dartmouth News announced the name of our new CIO: Alice Ruth ‘83. The College’s press release describes Ruth’s background as follows:
She comes to Dartmouth from Willett [Advisors], which, since its inception in 2010, has been the investment adviser for former New York Mayor Michael Bloomberg’s Bloomberg Family Office and the Bloomberg Family Foundation. Prior to Willett, she served in the same capacity for Bloomberg at Quadrangle Group.
Before Quadrangle, she was chief investment officer for the Gordon and Betty Moore Foundation, where she led and shaped a $6 billion portfolio. Prior to Moore, she spent 12 years at Montgomery Securities as a senior managing director and co-director of equity research. As a consumer stock analyst for Montgomery, Ruth was recognized a number of times by The Wall Street Journal and named by Institutional Investor’s as a “Home Run Hitter.” Ruth started her career at Morgan Stanley as an economic analyst, focused primarily on Federal Reserve and monetary policy.
The information that Dartmouth News did not give us is that ex-Trustee Diana Taylor ‘77 (2008-2016) is Mike Bloomberg’s partner, and that Ruth is not the first person to migrate from Willett Advisors to the College. You’d think that the Trustees would be up front about this kind of conflict of interest.
Beyond those facts, sources indicate the Phil Hanlon is so desperate to kick the stalled capital campaign into gear that he is currying favor with Michael Bloomberg by offering bolt holes to his ex-employees. Will favors like that help elicit a large donation? Who knows? But do you think that former New York Mayor Bloomberg, a legendary, no-nonsense, tough guy (#6 on the Forbes 400 with a net worth of $49.3 billion; #8 in the world) is going to be impressed by Phil?
Addendum: There appears to be a veritable pipeline from Willett Advisors to the College’s endowment office. Kelsey Morgan ‘02, T’08 spent 26 months with Willett before making his way to the College’s employ. At least a couple of other College staffers previously worked for Willett, too.
Addendum: The CIO position is usually the most highly paid position at the College. Here are the figures for the top earners in 2014 (click on the image to enlarge it):
Addendum: Institutional Investor comments, ahem, on Alice Ruth’s hiring by the College:
August 14, 2013
Breaking: Of Crips and Bloods and Memories of Ghetto Parties
History repeats itself, first as tragedy and then as farce, or sometimes it just repeats itself. From the New York Times on November 30, 1998: At Dartmouth College, white students at a ”ghetto party” dressed…
June 25, 2013
Dean of the College Charlotte Johnson’s War on Students Part (2/2)
Part 1, Part 2 Today’s post again recounts the events that befell the Freshman. However, the content of the Hanover Police department report reproduced in this space yesterday is supplemented by information from my own…
October 18, 2009
When Love Beckoned in 52nd Street
We were at San Francisco’s BIX last evening, enjoying prosecco, cheese, and a bit of music. A full year of inhabitation in Northern California has unraveled to me no decent venue for proper lounging, but…
October 9, 2009
D Afraid of a Little Competish
So our colleague and Dartblog writer Joe Asch informed me that the D has rejected our cunning advertising campaign. Uh-oh. The Dartmouth is widely known as a breeding ground for instant New York Times successes,…
September 4, 2009
How Regents Should Reign
As Dartmouth alumni proceed through the legal hoops necessary to defuse a Board-packing plan—which put in unhappy desuetude an historic 1891 Agreement between alumni and the College guaranteeing a half-democratically-elected Board of Trustees—it strikes one…
August 29, 2009
Election Reform Study Committee
If you are an alum of the College on the Hill, you may have received a number of e-mails of late beseeching your input for a new arm of the College’s Alumni Control Apparatus called…
- The Dartmouth College Case
- 2007 Trustee Election
- Dartmouth Constitution
- Sunday Morning Sinatra
- The Indian Wars
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