Scott C. Malpass, Notre Dame’s chief investment officer of 32 years, will retire June 30, University President Fr. John Jenkins announced in a press release on Friday.
During his career, Malpass was responsible for the investment of the University’s endowment and additional assets totaling $14 billion. In his 32 years, the endowment grew $425 million from 1989 to a total $12.5 billion as of June 30, 2019. Endowment spending increased $425.7 million from $19.5 million in the same time period, the press release said.
Notre Dame’s endowment provides for scholarship, research, academic programs and institutes, faculty chairs, athletics and one-third of all student financial aid.
“The University’s average annual endowment returns over the past 30 years have ranked among the best in higher education and beyond,” Executive Vice President Shannon Cullinan said. “However, I believe Scott’s greatest gift to Notre Dame is the outstanding investment team he has assembled to ensure future generations of students, faculty and staff will benefit from the exceptional stewardship of our endowment.”
The Institutional Investor Magazine named Malpass its large endowment manager of the year in 2011. Chief Investment Officer Magazine awarded Malpass its lifetime achievement award in 2014. Malpass also was one of 12 of America’s leading chief investment officers featured in the book, “Foundation and Endowment Investing: Philosophies and Strategies of Top Investors and Institutions.”
Malpass graduated from Notre Dame in 1984, and received his master of business administration degree from the University in 1986. After working for Wall Street firm Irving Trust Company for two years, Malpass returned to the University to serve as chief investment officer. Malpass also was a concurrent assistant professor of finance in the Mendoza College of Business. Additionally, Malpass holds a law degree from the UCLA School of Law and an MBA from Harvard Business School.
Michael Donovan will take up Malpass’s position. Donovan currently serves as managing director of the Notre Dame Investment Office, where he has worked for 23 years.
“It's been an honor to serve my alma mater, which, in three decades, has been able to realize magnificent aspirations that we could only dream of decades prior,” Malpass said. “That was made possible, in large measure, by the financial genius and devotion to Notre Dame of the investment team that I was privileged to assemble over the years.”
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