William H. McLean was named president and chief investment officer of Spider Management Co., which oversees the $2.4 billion endowment for University of Richmond, spokeswoman Cynthia Price said.
Effective Jan. 1, he will replace Rob Blandford, who will remain as president and CIO of Spider Management, Richmond, Va., until Mr. McLean's five-year appointment begins. Mr. Blandford will then serve as CEO until June 30, 2022, to ensure a smooth leadership transition.
Mr. McLean is vice president and chief investment officer of Evanston, Ill.-based Northwestern University's $11 billion endowment. An interim vice president and CIO will be announced later in the fall, as will information about a search committee to identify Mr. McLean’s successor, Northwestern spokesman Jon Yates confirmed.