Allison K. Thacker ’96, Rice University’s chief investment officer (CIO) and president of the Rice Management Company (RMC), will step down from her position Sept. 30. Thacker, who served the university with steady leadership and remarkable success, will continue as a special adviser as the university engages in a nationwide search for her successor. Deputy CIO John Lawrence ’97 will serve as interim CIO during the transition.
A proud alumna, Thacker joined Rice in 2011 and has overseen the university’s endowment fund, which consistently ranks in the top 20 endowments of private research universities in the U.S. and funds approximately 40% of the university budget.
During her tenure, the endowment’s market value grew from $4.2 billion to $8.1 billion, while contributing $3.8 billion to the university budget. Endowment returns of 9.2% annualized exceeded the benchmark returns of 7.1% and a passive benchmark of 35% U.S. stocks, 35% international stocks and 30% bonds which returned 7% over the same period.
“Serving as the chief investment officer at my alma mater has been the honor of a lifetime,” Thacker said. “My deep loyalty to Rice and its mission has been my driving force. I am immensely proud of the endowment's performance, which has not only strengthened our financial foundation but also supported the success of countless students. As I step down, I carry with me the satisfaction of knowing that our efforts have made a meaningful impact on the university I hold so dear.”
Thacker earned a Bachelor of Arts degree in economics with honors from Rice and received an MBA from Harvard. She was named one of “Houston’s 50 Most Influential Women of 2014” by Houston Woman Magazine. Prior to Rice, Thacker spent 11 years with RS Investments, a San Francisco-based investment firm specializing in public equities.
“On behalf of the Rice University Board of Trustees, I extend our deepest gratitude to Allison for her leadership and dedication over the past 13 years,” said Robert T. Ladd ’78, chairman of the board of trustees. “Her stewardship has positioned the university on solid financial footing for future success.”
Thacker expressed that her greatest pride lies in how endowment returns have strengthened the university’s longstanding commitment to financial aid through The Rice Investment, which has played a major role in making Rice one of the most affordable private schools in the country.
“We are grateful for and proud of Allison's contributions to Rice as both a graduate and our chief investment officer, with her work profoundly impacting our students and programs,” Rice President Reginald DesRoches said. “As we wish her well in her future endeavors, we look forward to building on what Allison accomplished while striving for even greater successes in the years to come.”
Interim CIO John Lawrence joined the Rice Management Company in 2012 and has worked closely with Thacker to lead the investment management function of the organization. Previously, Lawrence worked in public equity investments, spending 12 years at Tudor, Pickering and Holt covering energy securities. He has a Bachelor of Arts degree in managerial studies from Rice and an MBA from UCLA.
“Allison led the Rice Management Company to more than a decade of best-in-class risk adjusted returns,” said Bart Broadman, a member of the board of trustees, chair of the Rice Management Company committee and the managing director of Astignes Capital in Singapore. “Moreover, she did so while always doing what was best for Rice in the long run — such as assembling an outstanding team of professionals who can carry on where she leaves off. Allison is deservedly thought of as a role model at Rice and in the industry.”
“At Rice, our commitment to ensuring affordability for outstanding students of all income levels depends on the strength of our endowment,” said Bobby Tudor, former chairman of the board of trustees and chair of the 2011 search committee that selected Thacker. “The outstanding performance produced under Allison's leadership has allowed us to not just maintain that commitment, but strengthen it. Her impact will be felt by students for generations to come.”