Vice President and CIO Scott Malpass named member of the board of Vatican Bank

by Paul Browne

Scott Malpass

University of Notre Dame Vice President and Chief Investment Officer Scott C. Malpass has been named a member of the board of the Vatican Bank.

Known officially as the Institute for Works of Religion (IOR), the bank is governed by a seven-member Board of Superintendence. In addition to Malpass, European bankers Javier Marin Romano and Georg Freiherr von Boeselager were named to the board on Thursday by the Cardinals Commission of Vigilance of the IOR.

Malpass has been advising the Holy See on banking reforms initiated by Pope Francis since the first months of his pontificate.

“The appointment comes at a time when Pope Francis is more determined than ever to make the Vatican Bank a financial engine for good works around the world,” Notre Dame President Rev. John I. Jenkins, C.S.C., said. “The pope has placed enormous and well-deserved confidence in Scott’s integrity and investment acumen. Notre Dame could not be prouder.”

“I am honored to serve the Cardinals Commission of the IOR and the Holy Father in this important assignment that assists religious organizations all over the world,” Malpass said. “I am looking forward to meeting my fellow board members in the new year and working with them and the dedicated staff of the IOR on this important ministry for the Church.”

Malpass is responsible for investment of the University’s endowment, working capital, pension and life income assets of some $10.4 billion as of the fiscal year ended June 30, 2016. The Notre Dame endowment is the 12th largest in American higher education and the largest at a Catholic university.

Having served as chief investment officer since 1989, Malpass works closely with the investment committee of the University’s Board of Trustees in partnering with the most sophisticated investment management organizations throughout the world. The Notre Dame endowment has achieved top-tier investment performance over both short- and long-term time periods.

Malpass is one of 12 leading chief investment officers profiled in the book “Foundation and Endowment Investing: Philosophies and Strategies of Top Investors and Institutions,” written by Lawrence E. Kochard and Cathleen M. Rittereiser and published by John Wiley and Sons in December 2007. Malpass was the recipient of the Large Endowment Manager of the Year award from Institutional Investor magazine in 2011. In 2012, Malpass was the recipient of the Rodney H. Adams endowment award given annually by Nacubo for contributions to professional development activities in the field of endowment investment management, and was named recipient of Chief Investment Officer magazine’s lifetime achievement award in 2014.

In 2000, Malpass was the recipient of the James E. Armstrong award given annually to an alumnus who is a current employee of Notre Dame and has rendered distinguished service to the University. He is an honorary Monogram winner given by the Notre Dame athletic department, and in 2011 was selected as the Mendoza College of Business MBA Alumnus of the Year for his service to the business school in teaching innovative classes in applied investment management and global portfolio management.

Malpass is a 1984 Notre Dame graduate and received a master of business administration degree from the University in 1986. He returned in 1988 from the Wall Street firm Irving Trust Company, and became chief investment officer the following year when the University’s endowment stood at $425 million.

Malpass is a concurrent assistant professor of finance in the Mendoza College of Business at Notre Dame. In 1995, he helped develop the applied investment management course in the college for outstanding students in finance that has received extensive interest from financial services firms throughout the country. Malpass is a director or advisory council member for several investment and charitable organizations. He serves on the Investment Advisory Committee for Major League Baseball. In 2011, he was elected to the board of directors for TIFF, the investment fund for foundations. In 2012, he was elected to the board of directors for the Vanguard Group Inc.

In 2014, Malpass was part of the founding group for Catholic Investment Services Inc., a not-for-profit offering top-tier investment solutions to Catholic organizations nationally that comply with the USCCB guidelines for socially responsible investing.