Britt Harris and the rise of the Aggies
Thomas “Britt” Harris is a highly-respected investment manager around the world. But, more importantly, he is a highly-respected investment manager in Texas. More important, still, he’s an Aggie. And, now he’s been named CEO and CIO of UTIMCO effective August 1st.
Aggies are graduates of Texas Agricultural and Mechanical University. They form a proud, but slightly aggrieved subtribe among Texans. But, at UTIMCO, their stock seems to be soaring.
The nine-member UTIMCO board traditionally includes three appointees of the University of Texas System, but only two from Texas A&M System which has always rankled the folks from College Station.
See: Texas turmoil: UTIMCO reboots, https://www.charlesskorina.com/?p=4520
Last month, UT Chancellor McRaven, who had held an ex officio seat, graciously stepped down so that the Aggies could name another board member. This month, they named Janet Handley to that seat. Ms. Handley just retired as chief investment officer at the Texas A&M Foundation. She’s a very nice lady, and the performance of her fund is chronicled in our upcoming Top 100 CIOs report. More important, she graduated summa cum laude from Texas A&M in 1975.
Then the UTIMCO board voted to rename their organization, which is now officially the University of Texas/Texas A&M Investment Management Co. That’s a bit ungainly, so the Aggies conceded that they could still call themselves UTIMCO. That’s a relief to us, because that other thing won’t fit in our charts.
For the Aggies, having one of their own in the top spot is just icing on the cake. (They’re also pleased that ex-Governor Rick Perry, still another Aggie, is now U.S. Secretary of Energy.)
Oh, and by the way, the Aggies would want you to know that the Texas TRS retirement system under Mr. Harris has outperformed UTIMCO under ex-CEO/CIO Bruce Zimmerman.
Although Mr. Zimmerman is technically a Texan, he went to Harvard, which should speak for itself.