Bessemer Trust’s Rebecca Patterson charged with growing, managing UF’s endowment
New York investor Rebecca Patterson, managing director and chief investment officer for the 110-year-old wealth management firm Bessemer Trust and widely recognized as one of the “most powerful women in finance,” has been chosen to oversee the University of Florida’s endowment.
Patterson, a UF alumna, will serve a six-year term as chair of the University of Florida Investment Corporation (UFICO). In that position, she works with a 12-member board of directors of industry leaders to manage the university’s $1.57 billion endowment. Those investments are designed to safeguard the endowment’s strength as permanent funding streams for scholarships, professorships and other UF programs. She succeeds UF alumnus Andrew Banks, founder and chairman of the private equity investment firm ABRY Partners. Banks began serving as chair in July 2012.
“As the University of Florida rises in stature and continues to be one of the nation’s very best universities, we absolutely must grow our endowment and successfully manage our investments,” UF President Kent Fuchs said. “Having Rebecca Patterson follow Andrew Banks — both of such high caliber and with such impressive credentials — is an important part of the process.”
In her role at Bessemer Trust, Patterson is responsible for more than $100 billion in assets under supervision. American Banker named her to its 2014, 2015 and 2016 lists of “The 25 Most Powerful Women in Finance.” Patterson serves on the New York Federal Reserve’s Investor Advisory Committee and is a member of the Economic Club of New York and the Council on Foreign Relations. She is also a regular contributor for CNBC.
In 2013, she joined UFICO’s board of directors. Prior to joining Bessemer, Patterson rose to chief markets strategist for J.P. Morgan Asset Management. Earlier in her career, she was a journalist in London, Rome, New York and Washington, D.C. Patterson earned a bachelor’s degree in journalism from UF in 1990 and later earned an MBA at New York University and master’s in international economics and politics at Johns Hopkins University.
“Rebecca is a proven superstar. Her contribution of time and talent to the oversight and management of the endowment has earned her great respect among the board and staff of UFICO. There’s no doubt that with her leadership, UFICO will continue achieving new levels of investment excellence. The University of Florida is very fortunate to have her leading the strategic direction of the endowment,” UFICO Chief Executive Officer William Reeser said.
The University of Florida’s mission is to prepare our students to lead and influence the next generation and beyond for economic, cultural and societal benefit. One of the nation’s largest public universities, UF is the only member of the Association of American Universities in the state of Florida. Teaching, research and scholarship, and service span all of the UF’s academic disciplines and represent its commitment to be a premier university that the state, nation and world look to for leadership.