|
NEWS SERVICES |
T 919-962-2091 F 919-962-2279 www.unc.edu/news/ news@unc.edu |
News Release
| For immediate use |
Nov. 12, 2004 -- No. 556 |
Dartmouth investment fund chief named
President, CEO of UNC Management Co.
CHAPEL HILL, N.C. – Jonathon C. King, who helped lead a highly successful growth period for the Dartmouth College endowment as chief investment officer, has been named president and chief executive officer of UNC Management Company Inc., an organization affiliated with the University of North Carolina at Chapel Hill.
King’s appointment takes effect Jan. 1, 2005.
"Jonathon King brings a wealth of experience and a proven track record of providing strategic guidance to Dartmouth’s widely respected investment office," said Timothy B. Burnett, chair of the UNC Management Company’s Board of Directors. "Our goal is to retain the university’s leadership position among our national peers, and our search committee has every confidence in Jonathon’s skills and expertise to achieve that objective in his future work with our investment team at Carolina."
UNC-Chapel Hill’s endowment passed the $1 billion mark for the first time in school history in 2000. Today, UNC’s endowment is valued at approximately $1.1 billion. The management company advises the university’s Board of Directors of the Foundation Investment Fund Inc. on how those funds are invested to provide a permanent revenue stream to support scholarships, professorships, departments and academic programs.
King has been at Dartmouth for 16 years, serving as associate vice president for investments since 1999. Dartmouth’s endowment has grown to $2.46 billion last June from $593 million in 1990. Dartmouth’s long-term (five- and 10-year) endowment investment results have ranked in the top 5 percent of college and university returns over the past decade.
At Dartmouth, King manages financial assets in endowment funds and other assets including working capital and charitable trusts. He works closely with Dartmouth’s Trustee Investment Committee to set investment strategy and make asset allocation decisions.
King was selected as part of a national search launched last spring.
Search committee members were Burnett, also a UNC trustee; Max C. Chapman Jr., chair of the Board of Directors of the Foundation Investment Fund Inc. and chairman of Gardner Capital Management Corp. in New York City; W. Allen Reed, a member of the investment fund board and president and chief executive officer of General Motors Investment Management Corp.; Nelson Schwab III, a member of the UNC Management Co. board, vice chairman of the UNC Board of Trustees and managing director of Carousel Capital in Charlotte; and Nancy Suttenfield, interim president of the UNC Management Co. since June. She also is a member of the management company board and UNC’s vice chancellor for finance and administration. The committee was assisted by Debra J. Brown of Russell Reynolds Associates, a national executive search firm.
King joined the Dartmouth Investment Office in June 1988 as associate investment officer. Previously, he was an investment officer at New England Life Insurance Co. in Boston and a staff accountant at Price Waterhouse in Hartford, Conn.
A native of Bloomfield, Conn., King earned a bachelor’s degree with Phi Beta Kappa honors from Middlebury College in 1977. He received a master’s of business administration degree from the Tuck School of Business at Dartmouth in 1983. He holds a Chartered Financial Analyst (CFA) designation, a globally recognized standard for measuring the skills and integrity of investment professionals.
King succeeds Mark Yusko, who resigned last June to pursue a private fund management business opportunity.
- 30 -
Contact: Mike McFarland, (919) 962-8593, mike_mcfarland@unc.edu