A new compensation plan for investment managers at the University of Texas Investment Management Co. is in limbo after the university's board of regents did not vote on the
proposal at the regents' Feb. 3 meeting.
Regents appointed a seven-member working group to
review the structure and
services provided by UTIMCO, which oversees the university's $15.6 billion in endowment and operating funds. The group is to report back to the board of regents by mid-April.
Board Chairman Charles Miller came away from the meeting unconvinced a vote on the compensation plan was
immediately necessary. "I see it as tabled," he said.
But Bob Boldt, UTIMCO's president and CEO, said he saw no reason for the board of
regents to hold off on the plan. "There's no reason the plan can't be put in place now," he said. He added the delay could lead some managers to leave.