The Independent Voice of Southern Methodist University Since 1915

The Daily Campus

The Daily Campus

The Independent Voice of Southern Methodist University Since 1915

The Daily Campus

The Independent Voice of Southern Methodist University Since 1915

The Daily Campus

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Condon named new SMU treasurer

In the midst of many universities facing endowment hardships with the downturn in the economy, and SMU recently launching the public portion of the second century campaign, SMU has named a new chief investment officer and treasurer, Michael A. Condon.

At such a critical junction in SMU’s finances, Condon will be responsible for oversight of the endowment, mineral interests and planned giving assets. He will plan the work of the Committee on Investments of the Board of Trustees, setting agendas, developing policies, formulating investment strategies, as well as recommending specific investment managers and vehicles for carrying out the investment program. SMU’s endowment was $1.4 billion as of June 30, 2008.

“Mike Condon’s experience in higher education investment management, particularly with sophisticated institutional portfolios much like SMU’s, makes him an excellent fit as SMU’s chief investment officer,” SMU President R. Gerald Turner said in a press release. “As we conduct The Second Century Campaign, Mike’s leadership will ensure that SMU continues the strong stewardship of significant new gifts to our endowment.”

According to Chair of the Committee on Investments of the SMU Board of Trustees John C. Tollson, the university needed someone with extensive experience to manage SMU’s larger than average endowment in these tough economic times.

“Considering the challenging economic environment facing the markets, it was very important that we find an individual with the knowledge, leadership and experience to manage SMU’s comprehensive portfolio,” said Tolleson in a press release. “I am pleased to welcome Mike Condon to SMU.”

Condon’s experience totals 17 years with funds ranging in size from $400 million to $1.5 billion. As chief investment officer at the University of Arkansas Foundation, he oversaw the investment of its $1.2 billion endowment. Prior to that, he served 10 years as chief investment officer for the Georgia Tech Foundation in Atlanta.

Under his direction, assets under the Foundation’s management grew from $400 million to $1.5 billion. In 1991, Condon joined the University of South Alabama Foundation as chief investment officer, where he managed investments totaling $377 million. Before joining that university, he was vice president and treasurer at Altus Bank.

According to SMU communications, as a senior officer of SMU, Condon will serve on the President’s Executive Council and work with leadership on matters related to endowment spending and the communication of endowment strategy and performance. He will oversee investment research and analysis, implementation, risk management, accounting, performance measurement and reporting associated with the investment process, and with the management of real estate and mineral interests.

Condon will be replacing Liz Williams, who has served as treasurer of the university since 1991 and is retiring at the end of the year.

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