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PROFILE: Scott Wise became the president of the Houston-based Cullen Foundation in January 2017. A Rice University announcement about his hiring shared:
Wise, who was elected to the Rice University Board of Trustees last year, was previously the founding president and chief investment officer of Covariance Capital Management, a full-service investment boutique that specializes in customized endowment management services for nonprofit organizations, including educational and health care institutions and foundations. He was also the founding president of Rice Management Company and served as Rice’s chief investment officer for 21 years. He received a Bachelor of Arts degree in economics from Rice, where he was co-captain of the Rice baseball team and a four-year letterman.
His TIAA Covariance bio shares:
Scott serves as Special Advisor to Covariance, sitting on both Covariance's Board of Directors and Investment Committee. Prior to Covariance, Scott spent 21 years in the role of chief investment officer of Rice University (July 1989-June 2010). At Rice, Scott was responsible for the management and oversight of all investment matters, including asset allocation, sourcing investment opportunities, investment manager selections/monitoring and investment performance. In this capacity, Scott broadened the endowment’s asset allocation to include venture capital, private equity and hedge fund investment portfolios, as well as real estate, timber and oil/gas investments. Additionally, he worked with banks on securities custody, cash management and other banking matters, and developed and monitored endowment spending policy.
During Scott’s tenure as chief investment officer, the assets under management of the Rice University endowment increased from approximately $990 million in 1989 to $3.8 billion in 2010. In recognition of the endowment’s success, John Baschab and Jon Piot dedicated a chapter of their 2010 book, Outperform: Inside the Investment Strategy of Billion Dollar Endowments, to Scott’s investment philosophy and the Rice endowment’s notable track record. In 2006, Scott was a finalist for Institutional Investor magazine’s Award for Excellence in Investment Management by Endowments.
Scott has served on the Board of Directors for HCC Insurance Holdings, Inc. (NYSE listed), the Investment Advisory Board to the Texas State Comptroller and the Board of Trustees for St. John’s School and Episcopal High School. Scott received his Masters in Professional Accounting from The University of Texas at Austin and his B.B.A. in Economics from Rice University.