Spider Management Announces New Chief Investment Officer

UNIVERSITY OF RICHMOND ─ William H. McLean will become president and chief investment officer of Spider Management Company, which oversees the University of Richmond’s endowment, effective Jan. 1, 2021.

McLean has served as vice president and chief investment officer of Northwestern University’s $11 billion endowment since 2002 and is one of the most respected university CIOs in the country. He previously held investment management roles at the John D. and Catherine T. MacArthur Foundation and the Duke Endowment. 

He also has a deep understanding of the opportunities and challenges facing non-profit institutions. He has served on many non-profit boards, including most recently the TIFF Charitable Foundation, The Sherman Fairchild Foundation, and the Robert R. McCormick Foundation. A Chartered Financial Analyst, McLean received his bachelor’s in economics from Davidson College and his MBA from the University of North Carolina, Chapel Hill. He and his wife Betty have three children, two of whom graduated from the University of Richmond.

McLean has served on the University of Richmond’s Board of Trustees, the University’s Investment Committee, and Spider Management’s Board of Managers in various capacities since 2012, including chair of the Spider Management Board for the last two years.

“As a long standing member of our board of trustees, and the parent of two Richmond graduates, Will believes strongly in the wise stewardship of the resources that have been entrusted to us,” said University of Richmond President Ronald. A. Crutcher. ”He is also committed to Spider’s long-term investment strategy, our talented team, and our institutional mission.”

“Will’s investment acumen and stellar professional record of success are complemented by his close familiarity with and affinity for the Spider community,” Crutcher added.

“I am excited to be joining the investment team at the University of Richmond and Spider Management. In my role on the board of trustees, I have had the opportunity to see the quality of the organization first hand and know that Rob Blandford has assembled a talented group of professionals,” McLean said. “I look forward to supporting the fine partners of Spider Management as they strive to fulfill their individual missions. I have a great deal of respect for President Ron Crutcher and his leadership team and am eager to contribute to the continued advancement of the university.”

Rob Blandford, whose undergraduate degree is from the University of Richmond, will remain as president and CIO of Spider Management until McLean’s five-year appointment begins. He will then serve as chief executive officer until June 30, 2022, helping to facilitate the leadership transition. Blandford has served as CIO since 2012 and has been with the University of Richmond since 1999.

“Rob is an outstanding investment professional who has played a lead role in the growth of the university’s endowment over the past two decades,” Crutcher said. “We are grateful for the characteristically generous teamwork that Rob is exhibiting by remaining involved in the leadership of Spider Management throughout this transition,” Crutcher said. 

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