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STANFORD -- Laurance R. Hoagland Jr. of St. Louis has been appointed chief executive officer of the Stanford Management Co., effective July 1.
Hoagland is a partner in the St. Louis investment management firm of Anderson, Hoagland and Co., which he co-founded 11 years ago. Before that, he was vice president and treasurer of Cummins Engine Co., and portfolio manager and vice president of the Irwin Management Co., a private-asset management firm in Columbus, Ind.
Hoagland, a Marshall scholar and Phi Beta Kappa graduate of Stanford, will be the first CEO of the investment company, formed in October 1990 to manage the university's $3.5 billion in investments and real estate holdings (see separate story).
James Gaither, president of the Stanford Board of Trustees, announced Hoagland's appointment.
Gaither said that Stanford was extremely fortunate to attract Hoagland to the new position. He is a person of "exceptional intellect and vision, a person with a proven record of success in the investment business, a person of great integrity and a Stanford graduate with great devotion to this institution, from which almost every member of his family has graduated."
President Donald Kennedy said that Hoagland has "just an extraordinary reputation as an extremely astute, thoughtful investment guy."
"The miracle is that we get all of this in the person of someone who has a record of family loyalty to and deep personal interest in Stanford," Kennedy said.
Pointing to the success of the investment team he soon will lead, Hoagland said that Stanford tied with the California Institute of Technology for first place in return on investment among the 20 largest university endowments for the three-year period ending June 30, 1990.
The late University Treasurer Rodney Adams "left a strong and capable organization, which gives me the luxury of being able to take some time to learn the organization and the people, then develop a plan to build on the strengths we already have," Hoagland said.
Nineteen members of Hoagland's family, including his four sons, have attended Stanford. "It's like trains passing in the night," he said of the fact that his youngest son will finish a master's degree in anthropology and leave campus in June.
Hoagland, who goes by the name Laurie, is married to the former Grace Mohns, a member of the Class of '59. She is executive director of the Network for Education, an agency created by 33 public school districts that provides professional development for educators in the St. Louis area.
Laurie Hoagland earned his bachelor's degree in economics in 1958, then took his Marshall scholarship to Oxford, where he studied philosophy, politics and economics, earning a second bachelor's degree in 1960. He then earned an MBA from Harvard in 1962.
Since 1981, he has been a director and member of the investment committee of the Board of Pensions of the Presbyterian Church (USA). He currently chairs that committee, which oversees assets of $2.5 billion.
As their contribution to Stanford's Centennial Campaign, the Hoaglands endowed in his parents' honor the Laurance and Naomi Carpenter Hoagland Prize for Excellence in Undergraduate Teaching. The prize provides a young faculty member with one quarter off to pursue activities that will enhance and improve undergraduate teaching.
In addition to Gaither and Kennedy, members of the search committee were: Claude Rosenberg, senior partner, Rosenberg Capital Management; Tully Friedman, managing partner, Hellman and Friedman; William Landreth, general partner, Goldman Sachs; John B. McCoy, chairman and chief executive officer, Banc One Corp., and a Stanford trustee; Robert M. Bass, president, Robert M. Bass Group Inc., and a Stanford trustee; and William F. Massy, chief financial officer, Stanford.
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