Cathy Iberg, president and deputy chief investment officer of the University of Texas Investment Management Co., Austin, will retire on Friday, said Christy Wallace, a UTIMCO spokeswoman.
Ms. Iberg will not be replaced, Ms. Wallace said in a telephone interview.
Ms. Iberg joined UTIMCO's predecessor in April 1991 and filled a variety of senior management positions within the organization before adding the role of president of UTIMCO in September 2007. She continued to serve as deputy chief investment officer, assisting Bruce Zimmerman, CEO and CIO, and the rest of the investment team in managing assets for the University of Texas System and Texas A&M.
Regarding Ms. Iberg's promotion to president, “this appointment is in recognition of Cathy's long-standing dedication and contribution to UTIMCO … coupled with some additional new responsibilities. Cathy is an excellent investor with a proven track record,” Mr. Zimmerman said in an Oct. 2, 2007, UTIMCO news release.
UTIMCO managed a total of $33.9 billion as of May 31; about $25 billion of that was managed in the system's two endowment funds and the balance was in operating funds, company online documents show.