AUSTIN – The University of Texas Investment Management Co. (UTIMCO) Board of Directors on Thursday (Feb. 12) elected Erle Nye of Dallas as Chairman of the Board.
Nye just completed 12 years of service on The Texas A&M University System Board of Regents and was initially appointed to the UTIMCO Board in March 2005. Nye serves as the Chairman of the UTIMCO Audit and Ethics Committee.
Nye is chairman emeritus of TXU Corp. and serves on several civic boards. He holds a Bachelor of Science in Electrical Engineering from Texas A&M University, a law degree from Southern Methodist University and an honorary degree from the Baylor College of Dentistry.
“I am honored to be selected as Chairman of the UTIMCO Board of Directors by my fellow Board members. They bring unparalleled investment experience and expertise as well as the highest standards of fiduciary responsibility and commitment to UTIMCO. UTIMCO has a stellar investment record and an excellent staff of investment professionals and I look forward to leading the organization in its ongoing commitment to provide for current and future generations of Texas students, faculty and health professionals,” Nye said.
The University of Texas System Board of Regents on Thursday reappointed J. Philip Ferguson of Houston and Ardon E. Moore of Fort Worth to the UTIMCO Board of Directors. Ferguson currently serves as Vice Chairman of the Board and Moore is a member of the Compensation Committee and Policy Committee.
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 $18 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
The University of Texas System is one of the nation’s largest higher education systems, with nine academic campuses and six health institutions. The UT System has an annual operating budget of $11.5 billion (FY 2009) including $2.5 billion in sponsored programs funded by federal, state, local and private sources. Student enrollment exceeded 194,000 in the 2007 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 healthcare professionals annually. With more than 81,000 employees, the UT System is one of the largest employers in the state.