By Josee Smith
Robert F. Wallace, CEO 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), according to the Stanford Report.
Wallace will succeed John Powers, who announced last fall that he would be leaving after nine years.
“Rob Wallace brings expertise in global financial management, as well as an understanding of the importance of endowment management to support higher education,” Stanford President John Hennessy said.
The SMC oversees more than $25 billion of endowment and trust assets, temporarily invested expendable funds and commercial real estate investments. The income generated from this work supports Stanford’s research and teaching, including faculty and student support, operational funds and capital improvements and infrastructure. The SMC was established in 1991 to manage Stanford’s financial and real estate assets and is governed by a board of directors appointed by the Stanford University Board of Trustees.
At Alta Advisers, Wallace oversees a global, multi-asset-class investment program. He graduated from Yale University with a degree in economics. Before his career in investment management, Wallace danced professionally for 16 years as a leading dancer with the American Ballet Theatre, the Boston Ballet and the Washington Ballet.
Wallace will begin transitioning into his new duties immediately, assuming the role full time later this year. Powers will work closely with Wallace during the transition.
Contact Josee Smith at jsmith11 ‘at’ stanford.edu.