Michigan State University has hired their first chief investment officer
Michigan State is on a roll.
In college football they're rated number three in the country and still in contention for the national championship. And, they're undefeated and rated number one in early-season basketball.
Not bad; but we've got even bigger news.
My friend Philip Zecher has just been appointed MSU's first-ever chief investment officer, reporting directly to Dr. Lou Anna K. Simon, MSU's president. The trustees announced the appointment on Friday and Phil called me up to give me the official word.
Phil is a low-profile guy with an impressive background, but he's now moving up into a more prominent position: running $2.3 billion of the school's $2.7 billion endowment. ($400 million resides in the MSU Foundation and will continue to be run by that board.)
So, this letter may help to introduce him to the foundation and endowment community and to the asset managers who will be doing business with him.
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