Dear Friends and Colleagues,
We are very pleased to announce the appointment of Sam Gallo as our new chief investment officer (see article for bio). Sam will be coming to us from PricewaterhouseCoopers where he is currently a managing director. I wish to express my thanks to David Saunders and the entire Investment Committee for their good work with this search. Also, our appreciation goes to Charles Skorina, our San Francisco-based executive search consultant, who did a very good job in identifying candidates and managing the search process. Kevin Dalmut, Tom English, and Carrie Browne have done an outstanding job of "holding down the fort" during the transition, and a special thanks also to board member Neil Moskowitz, who provided leadership in an interim CIO consulting role.
Speaking of Kevin Dalmut, we have a rising star in our midst - In May, Kevin was named to the "Forty under [Mostly] Forty" by Asset International CIO Magazine. Kudos to Kevin for receiving this distinguished honor.
This month sadly has also proved to be one of partings: We have learned of the resignations of three of our vice presidents: Sue Gladhill of the University of Maryland, Baltimore (UMB); Gains Hawkins at the University of Maryland Eastern Shore (UMES); and B.J. Davisson at Frostburg State University (FSU). In addition, we will soon bid farewell to Brodie Remington at the University of Maryland, College Park, who announced his departure last fall.
Sue is concluding a 32-year career at UMB. Starting at UMB as an instructor of social work, she moved into government relations and ultimately was named Chief Government Affairs and Communications Officer and Vice President. Under her leadership, Sue successfully raised funds and cleared the path for a number of buildings on the campus, and she established an institutionally-related foundation which has assets of just under $200 million at this time. Sue has overseen a successful major campaign that will raise at least $650 million by the end of this year. We are all very sad to see Sue retire but we know that, given her substantial talents, she has many opportunities lying ahead of her.
This spring, B.J. announced that he is leaving Frostburg to take a position at George Washington University. B.J. has done so much while at Frostburg, and his departure will truly be mourned. He led the campus not only to successfully completing its campaign, but exceeding the $15 million goal by more than $1 million. He also strengthened the foundation board, worked with staff to raise the sights of the Frostburg program, and put structures in place for the next campaign. While we hate to see him go, we wish B.J. the best in his new role.
Gains is retiring after nine years at UMES. Like B.J., Gains has built a strong program from smaller beginnings and has led the institution to successfully complete -- and exceed -- its campaign goal of $14 million (total raised to-date is $15.6 million). During his tenure, he secured the largest gift ever to UMES -- $3 million from Richard Hazel. We wish Gains the best for a long and rewarding retirement.
And finally, while I've already written about Brodie in a previous message, I cannot finish this note without emphasizing the value of the long and productive professional partnership that we have enjoyed over the years. Under his leadership over the past 12 years, the University of Maryland, College Park raised $1.2 billion - an average of $100 million per year! College Park is currently close to completing its $1 billion campaign, with $935.3 million raised through March of this year. Brodie will be missed by colleagues and donors alike, and we hope that we will see him from time to time after his departure.
I have personally enjoyed working with each of the vice presidents, and we are grateful for their tremendous contributions to the betterment of their respective campuses.
As always, please contact me at firstname.lastname@example.org
with any questions or comments.
Leonard R. Raley