March 23, 2015
Robert Wallace named to lead Stanford Management Company
Wallace, CEO and chief investment officer of Alta Advisers, will succeed John Powers, who announced his departure last fall.
Robert F. Wallace has been named president and CEO of the Stanford Management Company. (Photo: Courtesy Alta Advisers)
Robert F. Wallace, chief executive officer and chief investment officer of Alta Advisers, a London-based private investment firm, has been named president and chief executive officer of the Stanford Management Company (SMC).
Wallace will succeed John Powers, who announced last fall that he would be leaving his post after nine years at the helm. Wallace will begin transitioning to his new duties overseeing SMC immediately, assuming the role full time later this year.
At Alta Advisers, Wallace oversees a global, multi-asset-class investment program. Prior to joining Alta in 2005, Wallace worked at the Yale Investments Office, which manages the Yale University Endowment. He serves on the investment committee of Cambridge University.
"Rob Wallace brings expertise in global financial management, as well as an understanding of the importance of endowment management to support higher education," said Stanford President John Hennessy. "We look forward to having him join Stanford, and to his leadership of the organization that provides crucial support to the university's teaching and research mission."
Wallace said he is delighted to join SMC and the Stanford community.
"The Stanford endowment is a critical resource for the university's present and future students and scholars," Wallace said. "I am very fortunate to have the opportunity to lead Stanford Management Company and to contribute to such an important mission and institution."
The Stanford Management Company oversees more than $25 billion of endowment and trust assets, temporarily invested expendable funds, and commercial real estate investments. The income generated from SMC's work supports Stanford's research and teaching, including student and faculty support, capital improvements and infrastructure, and operational funds.
The Stanford Management Company was established in 1991 to manage Stanford's financial and real estate assets. SMC is a division of the university governed by a board of directors appointed by the Stanford University Board of Trustees.
"Rob is a proven investor and senior manager, who brings experience in international investment management as well as a deep understanding of universities. We are so pleased to have him lead the Stanford Management Company," said Bruce Dunlevie, chair of the SMC Board of Directors.
Powers, who will work closely with Wallace during the transition, also praised the selection. "I've known Rob for many years and have great respect for his work. He is an excellent choice to lead the SMC team."
Wallace graduated summa cum laude from Yale University with a degree in economics.