DALLAS – The University of Texas Investment Management Co. (UTIMCO) Board of Directors today (Nov. 29) elected UT Regent and Dallas businessman Robert B. Rowling as chairman of the board.
Rowling, who previously was vice chairman of the UTIMCO board and currently serves as a vice chairman of The University of Texas System Board of Regents, was appointed to the UTIMCO board in 2005 and reappointed in April. He is a member of UTIMCO’s policy committee and the audit and ethics committee. He succeeds H. Scott Caven, Jr., of Houston, who resigned from the UTIMCO board today, following his recent election as chairman of the UT System Board of Regents.
Rowling is the owner and chairman of TRT Holdings Inc., a privately owned, diversified holding company in Irving, Texas. TRT owns the Omni Hotels chain and Tana Exploration Company, among other interests in public companies and real estate ventures. He holds a bachelor’s degree in business administration from UT Austin and a law degree from Southern Methodist University.
About The University of Texas Investment Management Co.
UTIMCO is a 501(c)(3) investment management corporation whose sole purpose is the management of investment assets under the fiduciary care of the Board of Regents of The University of Texas System. Created in March 1996, UTIMCO is the first external investment corporation formed by a public university system in the nation. It invests endowment and operating funds in excess of $24 billion.
UTIMCO is governed by a nine-member Board of Directors. The UTIMCO Board of Directors includes three members of The University of Texas System Board of Regents, one member selected from a list provided by The Texas A&M University System Board of Regents, the Chancellor of The University of Texas System, and four outside investment professionals appointed by the UT System Board of Regents.
About The University of Texas System
Serving the educational and health care needs of Texans for more than 125 years, the UT System is one of the nation's largest higher education systems with 15 campuses – including nine academic and six health institutions – and has an annual operating budget of $10.7 billion (FY 2008) including $2.3 billion in research funded by federal, state, local and private sources. Student enrollment exceeded 190,000 in the 2006 academic year. The UT System confers more than one-third of the state's undergraduate degrees and educates nearly three-fourths of the state's health care professionals annually. With more than 80,000 employees, the UT System is one of the largest employers in the state.
