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Institution picks financial director
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by Mary Duke
Thursday, December 6, 2007
The Wisconsin Alumni Research Foundation selected a new foundation director of investments, the foundation announced Wednesday.
Carrie Thome, former associate director of investment, has worked in WARF since 2001, and her new position includes managing an investment portfolio worth an estimated $1.8 billion.
According to WARF managing director Carl Gulbrandsen, the foundation started looking for a new candidate when former director Tom Weaver left the foundation late April for a position with Morgan Stanley, a financial advisory company.
"The foundation recognized her as being the perfect person for the important position of director," said Janet Kelly, WARF communications director.
"We made [Thome] interim director of the group in April, and the work she did in that time was great," Culbrandsen said. "She really stepped up the task and proved herself to the management team and entire foundation."
Thome's years of experience at WARF — along with prior work as assistant portfolio manager at the State of Wisconsin Investment Board — have made her an expert in financial management, Kelly said.
Thome received a bachelor’s degree in finance and real estate and a master’s degree in finance from the University of Wisconsin.
"She made my job of hiring a director, which could have potentially been a stressful task, extremely easy," Culbrandsen said.
As official director of WARF investments, Culbrandsen said Thome will be expected to oversee the foundation's entire investment portfolio. WARF is an independent and non-profit foundation with the goal of supporting University of Wisconsin research.
Although completely separate from the university, the two institutions work closely with one another. The foundation puts innovations of UW's laboratories on the marketplace in order to benefit the institution and inventors.
"WARF has a large portfolio of well over 1.5 billion dollars," Culbrandsen said. "Our managing team is required to make sure that this money is used responsibly, following the policies put into place by the investment committee board."
Culbrandsen emphasized the importance of having knowledgeable and dependable employees working for WARF.
"The success of the foundation depends on the strength of those who work here," Culbrandsen said. "Managing the finances, which enable important academic research, is no small responsibility."
In the last year, WARF provided UW with more than $50 million for research. Since 1925, the foundation has given $915 million to fund research, programs and other initiatives.
"Managing a portfolio as large as the one WARF has calls for excellent leadership," said Culbrandsen. "Thome's experience has prepared her well for this position."
Anonymous (December 7, 2007 @ 9:29pm):
Judging by the lede, this is a story about a ... foundation?
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