Vice President for Investments appointed

William Spitz, a national authority on endowment asset allocation and spending policy, has been named Vice President for Investments, with primary responsibility for managing investment of the University's $2 billion endowment. Spitz received his M.B.A. from the University in 1974 and since 1985 has served as treasurer at Vanderbilt University. He begins his duties at the University on March 1.

"The University's endowment is the foundation of our financial strength, and its management is of critical importance to our continuing success in teaching and research," said President Sonnenschein. "We are fortunate that a financial manager of Bill's ability and integrity has accepted the responsibility to care for and develop this precious asset."

Spitz is currently chairman of the Common Fund, an organization established to improve asset management for small schools and colleges by pooling their investments and gaining access to the highest quality asset management. The fund currently manages $17 billion in assets for more than 1,200 schools. Spitz has been a member of the Common Fund Board since 1990.

Among his other professional activities, he is also a trustee and former chairman of Endowment Advisors Inc., a trustee of Endowment Realty Investors Inc., and a director of The Bradford Fund, Diversified Trust Company, and Breathe America Inc.

In addition to his professional publications, Spitz has written several books for a popular audience, including Save Smart for a Secure Future (Macmillan, 1998), and Get Rich Slowly: Building Your Financial Future Through Common Sense (Macmillan, 1992).

Spitz received his B.A. from Vanderbilt in 1973 and his M.B.A. from Chicago the following year. He worked as a senior research officer at Citibank in New York City for three years and in 1978 was named vice president at M.D. Sass Investors Services. In 1979 he moved to Wertheim Asset Management Corporation, where he served as vice president and director of research, and in 1985 he became president and chief investment officer of NSR Asset Management Corporation. Later in that year he was appointed treasurer at Vanderbilt.

At Vanderbilt, he was responsible for managing that university's endowment, currently valued at $1.4 billion, and he served as a member of the Chancellor's Management Group.