University of Chicago appoints Andy Ward as chief investment officer

Andy Ward, an accomplished investment veteran, has been appointed vice president and chief investment officer at the University of Chicago, effective Oct. 20.

Ward comes to the University from the Boeing Company, where he has served as vice president and chief investment officer since 2009. In that role, he was responsible for investing and managing the $135-plus billion in assets of the company’s employee benefit plans.

He previously has served as Boeing’s managing director of investment strategy and asset allocation for the company’s retirement plans, as well as director of alternative investments. Prior to Boeing, Ward worked at Aon Corporation, managing the underwriting assets of its insurance subsidiaries; and he also served as a management consultant for A.T. Kearney.

Ward is also a University of Chicago graduate, having earned his MBA in 1997 from the Booth School of Business.

“The University is fortunate to welcome someone with Andy’s leadership and expertise,” said President Paul Alivisatos. “Andy has a well-established background in building high-performing investment teams, and I am confident he will help the University achieve its ambitious goals.”

Ward will be responsible for managing the University’s endowment, which was valued at $8.6 billion at the close of FY21 and is projected to be more than $10 billion today. He will lead the investment office’s stewardship of the University’s investment assets, which provide robust support for the University’s long-term education and research mission.

In his new role, Ward will work closely with the University’s Investment Committee and manage a 29-person team in the Office of Investments.

“I am honored for the opportunity to return to the University of Chicago,” Ward said. “I look forward to leading a world-class investment team at one of the world’s leading research universities.”

Ward earned a bachelor’s degree in marketing from Indiana University in 1992 and earned his MBA from UChicago in 1997, with concentrations in finance and economics. 

Ward replaces Mark Schmid, who retired as CIO on Sept. 1 after serving in the position since 2009.