Dartmouth College has named Alice Ruth as its new chief investment officer to oversee its $4.5 billion endowment, as well as additional college funds of approximately $1 billion.
“I am grateful for the opportunity to serve Dartmouth. It is an inspiring institution and has had a significant impact on my life,” said Ruth, who is an alum from the class of 1983, and has been a member of the trustees’ Investment Committee since 2011. “I look forward to having a part in building the college’s future.”
Ruth will begin work in April in Dartmouth’s investment office, located in Boston, where she will manage a staff of 13.
Ruth, who is replacing Pamela Peedin, has spent the last eight years as chief investment officer for Willett Advisors in New York City. Willett manages the philanthropic assets of former New York City Mayor Michael Bloomberg and Bloomberg Philanthropies.
“Alice’s accomplishments are legendary in the investment community,” said Dartmouth President Phil Hanlon. “We are thrilled to welcome her back to Dartmouth.”
Ruth was also previously CIO for the Gordon and Betty Moore Foundation, where she led 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. Ruth started her career at Morgan Stanley as an economic analyst, focused primarily on Federal Reserve and monetary policy. She is also a trustee of Deerfield Academy in Deerfield, Mass., and of the U.S. Ski Team Foundation.
Peedin, who had been Dartmouth’s CIO for six years, announced in November that she would step down to spend time with her husband and their two teenage sons before they go to college.
According to Dartmouth, the average annualized endowment returns for three-, five-, and 10-year periods ending June 30, 2016, have been 8.7%, 8.8%, and 7.2%, respectively.
By Michael Katz