Spider Management Announces New Chief Investment Officer
UNIVERSITY OF RICHMOND ─ The Board of Trustees of the University of Richmond and the Spider Management Board of Managers have appointed Karen Horn Welch as the chief investment officer of Spider Management, effective July 1.
Spider Management oversees the University of Richmond’s endowment and manages assets on behalf of more than two dozen other non-profit organizations as an outsourced chief investment officer (OCIO) provider. Will McLean, the current president and chief investment officer, will remain in the role of president through December 31, 2026.
Welch has served as a leader at Spider Management since joining the organization in 2016. As director and then managing director of investments, she worked across the portfolio on public equity, private equity, real estate, and asset allocation. Welch was appointed deputy chief investment officer in January 2024, and she has increasingly taken a leadership role in asset allocation and investment decisions across asset classes. Welch has played a key role in building the team and works closely with the University of Richmond and Spider’s non-profit clients and their investment committees.
Prior to joining Spider Management, Welch worked at Stanford Management Company for nearly a decade, where she served as director of portfolio strategy and previously as director of public equity. Prior to Stanford, Welch worked at the David and Lucile Packard Foundation, Stanford Graduate School of Business, Harvard University, and J.P. Morgan.
Welch holds a master’s in public administration with a focus on international economics from Harvard University and a Bachelor of Arts with honors in economics and international relations from Bucknell University. She is a CFA Charterholder and a member of Phi Beta Kappa. She serves on the Investment Subcommittee of CommonSpirit Health Board of Stewardship Trustees, and the St. Christopher’s School Foundation Board.
“Karen’s promotion to the CIO role is part of a strategic succession plan that the University of Richmond leadership and Spider Board have developed over several years,” University of Richmond Investment Committee Chair Hiter Harris said. “I am confident Karen will continue Spider Management’s history of excellence.”
“I am honored to be selected as the next chief investment officer, and I am committed to building upon the strong foundation that Will and my predecessors have laid,” Welch said. “It is a privilege to lead the talented investment team to grow and protect the endowments of our non-profit partners and the University of Richmond to support their missions for current and future generations.”
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ABOUT SPIDER MANAGEMENT
Spider Management is the first university-owned investment office to provide its services to non-affiliated endowments and foundations. Through an innovative model, Spider Management provides a select group of endowments and foundations the ability to invest alongside the University of Richmond’s endowment, thereby increasing the collective scale for all organizations. The investment strategy is designed for organizations oriented toward the preservation of capital and long-term performance. For more information, visit www.spiderinvests.com or contact SpiderInvestors@richmond.edu.