 Ms. Cathy Swain assumed her current duties in September 2007 as Assistant Vice Chancellor for Commercial Development in The University of Texas System’s Office of Research and Technology Transfer. Her responsibilities include managing the Texas Ignition Fund (TIF) Proof-of Concept award program for U. T. inventors; coordinating U. T. System activities with the Texas Emerging Technology Fund (TETF) and Regional Centers of Innovation and Commercialization (RCICs) to contribute to economic development; sponsoring the Ideas on Fire! entrepreneurship training for faculty; promoting the U. T. commercialization story globally; enhancing communications to inspire synergies among campuses and communities; and developing strategies to access venture capital and angel investment for U. T. System startup companies.
Ms. Swain joined The U. T. System in January 2005 as Director of Investment Oversight in the Office of Finance, with a main purpose to help the Board of Regents fulfill its fiduciary duty to prudently manage more than $23 billion of U. T. System endowment and operating assets that are managed day-to-day by the University of Texas Investment Management Company (UTIMCO). She was accountable for synthesizing, interpreting, communicating and recommending improvements to complex policies and investment reporting to enhance transparency and facilitate informed decision making by the Board of Regents, the Chancellor, and Regental Directors of UTIMCO.
Ms. Swain’s significant contributions to Investment Oversight include revising all investment policies; advocating creation of the UTIMCO Board Risk Committee to oversee investment compliance, risk management, and asset classification; completing the first annual Total Cost Effectiveness Studies; coordinating the first Joint Meetings of the UTIMCO Board with the Board of Regents; creating the first official description of duties of UTIMCO directors; working with counsel to update the Investment Management Services Agreement between the Board of Regents and UTIMCO; advocating creation of Chief Compliance Officer and General Counsel staff roles; and reviewing proposed State legislation (e.g. UPMIFA, Sudan divestments).
Ms. Swain’s extensive prior career focused on investment banking and managing alternative private and venture investments primarily for large institutions. She also served a regional non-profit Community Development Corporation (CDC), initially as the VP in charge of venture capital equity (stock and convertible debenture) investments, then later as SVP and CFO. She served on the Vermont Governor’s advisory task force to form the Vermont Venture Capital Fund. With federal funding and a mission similar to the Texas ETF, the CDC achieved long term self-sufficiency. She has written and implemented several business plans; served on investment committees; managed portfolios as large as $2.0 billion; performed due diligence, valuations, and investment manager searches; served as CEO of a regional company; taught professional workshops and college courses; authored published articles; and contributed in finance industry associations.
Ms. Swain earned her BA in economics (High Distinction, Phi Beta Kappa) and MS in finance (Highest Distinction, NDEA Fellow) from the University of Illinois, and subsequently completed post-graduate studies at the Stanford University Graduate School of Business. She maintains the Chartered Financial Analyst (CFA) and Accredited Investment Fiduciary AnalystTM (AIFA®) professional designations.
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