Mark Schmid, who has served as Vice President and Chief Investment Officer at the University of Chicago since 2009, has announced his intention to retire as of Sept. 1, 2021.
Under Schmid’s leadership, the investment office has stewarded the University’s investment assets and provided robust support for the University’s long-term education and research mission. Since 2009 the University’s investment performance has markedly improved compared to peers on a risk-adjusted basis. This resulted in the University’s endowment growing from $4.9 billion in 2009 to a number projected to be more than $10 billion today.
President Robert J. Zimmer thanked Schmid for his “outstanding service” to the University.
“I am grateful for all of Mark’s contributions to the University, and for his service as an insightful and trusted colleague,” Zimmer said.
Schmid’s accomplishments include creating a successful risk management framework for the University’s investments. He was instrumental in significantly increasing the diversity of the University’s external investment managers, with $1.8 billion of investment assets currently residing with minority- and women-owned firms. For his efforts, he was awarded the University’s first John Rogers Jr. Business Diversity Impact Award in 2018.
The University will launch a national search to identify the next Chief Investment Officer.