Commonfund elects chair of board of trustees

Robert Litterman has been elected chair of the Commonfund board of trustees. Dr. Litterman succeeds outgoing board chair, Brad Gallagher, who is stepping down to focus on his business interests.


Commonfund announced today that Robert Litterman has been elected Chair of the Commonfund Board of Trustees. Dr.
Litterman succeeds outgoing Board Chair, Brad Gallagher, who is stepping down to focus on his business interests.

Bob Litterman has been a member of the Commonfund Board of Trustees since 2009, and most recently has served as the Chair of the Audit and Risk Committee.

“Bob and I have worked closely together on the Board for the last five years, and he will bring great insight and leadership to our Board and the entire Commonfund organization,” noted Verne Sedlacek, Commonfund President and CEO. “I am also very grateful to Brad Gallagher for the nine years that he has served on the Commonfund Board. He has contributed greatly to Commonfund and our clients.”

Mr. Litterman added, “It has been a great honor to serve the mission of Commonfund as a member of the Board for the last several years. Our Board is rich in its diversity, expertise and commitment to this great organization and its clients. I am grateful to my fellow Board members for the trust they have put in me as Board Chair.”

Mr. Litterman spent 23 years at Goldman, Sachs & Co. in research, risk management, investments and thought leadership roles. He oversaw the Quantitative Investment Strategies Group. During his tenure at Goldman, he researched and published a number of groundbreaking papers in asset allocation and risk management. He is the co-developer of the Black-Litterman Global Asset Allocation Model, a key tool in investment management. Bob was one of the original inductees into Risk Magazine’s Risk Hall of Fame, the recipient of the Nicholas Molodovsky Award from the CFA Institute, the S. Donald Sussman Award from the MIT Sloan School of Management, and the 2013 Risk Manager of the Year Award from the Global Association of Risk Professionals.

Mr. Litterman is actively involved in the nonprofit community and serves on the Boards of Trustees of the Sloan Foundation, the World Wildlife Fund, and the Robert Wood Johnson Foundation. Dr. Litterman also serves as the Executive Editor of the Financial Analysts Journal.

About Commonfund

Commonfund was founded in 1971 as an independent nonprofit investment firm with a grant from the Ford Foundation. Directly or through its subsidiaries­Commonfund Capital and Commonfund Asset Management Company­ Commonfund today manages nearly $25 billion for endowments, foundations and pension funds. Among the pioneers in applying the endowment model of investing to institutional investors, Commonfund provides extensive investment flexibility using independent investment sub-advisors for discretionary outsourcing engagements, single strategies and multi-asset solutions. Investment programs incorporate active and passive strategies in equities and fixed income, hedge funds, commodities and private capital. All securities are distributed through Commonfund Securities, Inc.
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