Following a nationwide search, Rice University has named alumnus John Lawrence ’97 as its new chief investment officer (CIO) and president of Rice Management Co. (RMC), effective immediately. Lawrence, who has served as the interim CIO since October 2024, steps into the role after a distinguished career at RMC, where he has worked since 2012.
As deputy CIO, Lawrence played an integral role in overseeing the university’s investment management function, which is responsible for managing the endowment, currently valued at $8.1 billion. The Rice endowment ranks among the top 20 of U.S. private research universities, and the annual distribution from the endowment is the largest single revenue source for the university’s operating budget, supporting approximately 40% of Rice’s annual operating expenses.
“Rice University’s endowment is essential to our long-term financial sustainability and ability to support critical initiatives such as national-leading generous student financial aid and the expansion of research programs that advance the nation and the world,” President Reginald DesRoches said. “John has been a key, invaluable leader at RMC for over a decade, helping guide the organization to best-in-class, risk-adjusted returns. His deep knowledge of Rice’s values, commitment to excellence and track record of success make him the ideal person to lead RMC as we continue to enhance the financial strength of our university for generations to come. His promotion also is a testament to the depth of leadership at Rice and our commitment to recognizing and advancing outstanding individuals from within.”
Lawrence, who holds a Bachelor of Arts degree in managerial studies from Rice and an MBA from the University of California, Los Angeles’ Anderson School of Management, said he is enthusiastic about the opportunity to lead the university’s investment strategy. Prior to joining RMC, Lawrence spent 12 years in public equity investments, including as a principal and portfolio manager at Transamerica Investment Management in Los Angeles and a senior analyst at Tudor Pickering & Holt, where he focused on energy securities.
“As a Rice alumnus, I am honored and enthusiastic to take on this role with my alma mater and where I’ve had the privilege to work alongside some of the brightest minds in investment management,” Lawrence said. “I would like to thank chairman Rob Ladd, President DesRoches and the search committee for this opportunity. I’m tremendously motivated to build upon the success of my predecessors Allison Thacker and Scott Wise and look forward to working with RMC chairman Bart Broadman and the RMC board. Our goal is to be the preeminent endowment in the world in terms of performance, people and reputation.”
Rice’s investment strategy focuses on maintaining a highly diversified portfolio that seeks to deliver long-term returns while managing risk across various asset classes, including venture capital, private equity, publicly traded equities, natural resources, fixed income, cash and real estate. RMC operates independently but is governed by a board of directors appointed by the Rice Board of Trustees.
“John’s strong track record, extensive investment management experience and knowledge of and commitment to Rice values as an alumnus makes him ideally positioned to lead the endowment at this important time in Rice history,” said Robert T. Ladd ’78, chair of the Rice Board of Trustees.
Lawrence succeeds Thacker ’96, who stepped down from her position in September and continued to serve as a special adviser during the transition period. The university worked with executive search firm Spencer Stuart to fill this leadership role.