June 11, 1998
Vol. 17, No. 18

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    New Chief Investment Officer announced

    Philip Halpern, treasurer and chief investment officer at Caltech, has been appointed Vice President and Chief Investment Officer, President Sonnenschein announced.

    "Philip is a remarkable individual with an extraordinary background in developing and implementing investment policy," Sonnenschein said in announcing the appointment.

    Halpern will assume full responsibility in July for the University's investment activities, overseeing the University's $2.3 billion endowment. Reporting to the Trustee Investment Committee and the president, Halpern will make recommendations regarding the University's strategic and tactical asset allocation, advise on the selection of outside money managers, oversee internal money management efforts and address the potential use of new investment vehicles.

    At Caltech, Halpern managed its $1 billion endowment, in-house real estate portfolio and other treasury functions, such as insurance and financing. He previously played a pivotal role in his position as chief investment officer of the Washington State Investment Board, assisting in the successful turnaround effort of the $35 billion diversified retirement and insurance portfolios.

    Author of several technical articles on portfolio management topics, Halpern has consulted at both public and private institutions and recently advised the governments of Egypt and Kazakstan on their respective efforts to reform non-bank financial institutions. His first book, Marketing Institutional Money Management Services: Meeting the Needs of Today's Plan Sponsors and Corporate Treasurers, was published in 1995.

    Halpern received his M.B.A. from UCLA and his B.A. in anthropology from Grinnell College.