Board of Trustees
Mr. Brennan is Chairman Emeritus and Senior Advisor of The Vanguard Group, Inc., one of the world’s largest investment companies with assets under management of more than $5 trillion. Mr. Brennan served as Chief Executive Officer of Vanguard from 1996 to 2008 and Chairman of the Board from 1998 to 2009. He was elected President in 1989 after joining Vanguard in 1982.
Mr. Brennan is a director of American Express, Guardian Life Insurance Company; and Rockefeller Capital Management, chairman of the University of Notre Dame's Board of Trustees; chairman of the Vanguard Charitable Endowment Program; a past chairman of the Investment Company Institute, the Financial Industry Regulatory Authority (FINRA) and the Financial Accounting Foundation.
Mr. Brennan graduated from Dartmouth College and received an M.B.A. from Harvard Business School. He has received honorary degrees from Curry College, Mt. Aloysius College, and Drexel University.
Tom joined CIS as Chief Executive Officer in 2019, and has been a Trustee of CIS since its founding in 2014. He is a retired Partner of William Blair & Company, a global asset management and investment management firm, where he managed five fixed income business units serving institutional clients, and originated and managed asset management relationships with major institutional investors, including large public employee pension funds. Before joining William Blair, Tom practiced law for 23 years at a major law firm, where he was a partner and chaired the firm’s largest department.
Tom is a seasoned fiduciary, serving in leadership roles on the boards of CIS, the Vanguard Charitable Endowment Program, the Big Shoulders Fund, which supports Chicago’s inner-city Catholic schools, Illinois Institute of Technology (Vice Chair), Rush University Medical Center, the Chicago Botanic Garden, the CORE Foundation and the Forest Preserve Foundation.
Tom is a graduate of The Law School of The University of Chicago. He attended the University of Pennsylvania and received his B.A. from Northwestern University.
Mr. Jeton is a co-founder and the former CEO of CIS. Prior to this appointment, Mr. Jeton spent 15 years in private equity, most recently as Chief Operating Officer of a portfolio company of Devonshire Investors, the private capital arm of Fidelity Investments, and as Chief Operating Officer of Apax Partners’ U.S. operations in New York.
He began in private equity as Partner and Chief Financial Officer of Heritage Partners, a middle-market buyout firm in Boston. He started his career in finance at the First National Bank of Boston, where he had extensive domestic corporate banking experience and was a senior executive in the bank’s units in France, Japan, Australia and Nigeria.
Mr. Jeton has served on the board of Marymount International School, Paris (part of the Religious of the Sacred Heart of Mary network of schools) and A Better Chance, Inc. (Andover, MA chapter). He is a graduate of Dartmouth College and earned his M.A. from Boston University.
Scott C. Malpass is Vice President and Chief Investment Officer at the University of Notre Dame, responsible for investment of the University's endowment, working capital, pension and life income assets of some $12.5 billion. The Notre Dame Endowment is the 12th largest in American higher education and the largest at a Catholic university. Mr. 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. Mr. Malpass is a director or advisory council member for several investment and charitable organizations. 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. Mr. Malpass was also recently appointed by His Holiness Pope Francis to the Board of Superintendence of the Institute for the Works of the Religious, commonly referred to as the Vatican bank.
Mr. Malpass is a 1984 Notre Dame graduate and received a master of business administration degree from the University in 1986.
Joan Payden, is the President and Chief Executive Officer of Payden & Rygel, the global investment management firm that she founded in 1983. Payden has overseen the firm’s international expansion and its growth to more than $120 billion in assets under management.
In 1992 the firm launched Payden & Rygel Investment Group, a family of mutual funds, of which she is chairman and chief executive officer. Subsequently many of these strategies were duplicated in UCITS funds domiciled in Ireland. In 1998 Payden & Rygel Global Ltd. was founded in London. At the same time, the firm established Metzler/Payden LLC, its joint venture with Metzler Bank, Germany’s oldest private bank.
Joan serves on the UCLA Anderson School board of advisors, and is a trustee of the University of Southern California and Loyola Marymount University. She is also a member of the board of the Town Hall of Los Angeles, the Los Angeles Sports Council, the California Chamber of Commerce, and the Natural History Museum of Los Angeles. She is past chairman of the Investment Counsel Association of America.
She holds the Chartered Financial Analyst designation. She is a graduate of the Advanced Management Program at Harvard Business School and earned a BA from Trinity Washington University in Mathematics and Physics.
Since 2004, Paul Schott Stevens has served as President and CEO of the Investment Company Institute (ICI). Founded in 1940, ICI today is the leading association of regulated funds offered to investors in the US and other jurisdictions worldwide; ICI members manage total assets of more than US$28 trillion. Stevens has steered ICI during some of the most challenging times in its history, through the financial crisis and beyond. He has led ICI’s efforts on a series of crucial issues – money market fund reform, passage and implementation of the Dodd-Frank Act, regulatory efforts to address systemic risk, and critically important tax and fiscal issues. In response to the globalization of fund investing and regulation, he directed the launch of ICI Global and the expansion of ICI’s international activities through offices in London and Hong Kong. He has been a vocal champion of the role of investment funds and defined contribution plans in providing for retirement. From 2014-17, he served as Chairman of the International Investment Funds Association, an organization consisting of ICI and all its counterpart associations worldwide.
Stevens is a member of the executive committee of ICI’s Board of Governors and a director of ICI Mutual Insurance Company. He was ICI’s General Counsel from 1993-97. He practiced law in Washington for many years, most recently as a partner in the financial services group of Dechert LLP. In addition, he served in a variety of senior positions at the White House and Department of Defense, including as Special Assistant for National Security Affairs to President Ronald Reagan and chief of staff of the National Security Council. Upon leaving government service, he received the Defense Department’s Medal for Distinguished Public Service, its highest civilian decoration.
Stevens has been involved in a range of professional, cultural, community and church activities. From 2006-17, he was a member of the Finance Council of the Catholic Diocese of Arlington, and served as Chairman of the Council’s Investment Committee. He received a B.A., magna cum laude, from Yale University and a J.D. from the University of Virginia.
Advisor to the Board
Mr. Flannery joined TIFF in 2003 and serves as Chief Executive Officer with overall responsibility for all of the organization's activities. Prior to joining TIFF, Mr. Flannery spent 14 years at Delaware Investments, where he was Executive Vice President, supervising multiple departments and playing a key role in the firm's transition from a domestic to a global investment management firm. He holds a BS summa cum laude in sociology from Saint Joseph's University and a JD from Harvard Law School. Mr. Flannery serves on the Investment Committee of the Financial Industry Regulatory Authority (FINRA) and on the Compensation Committee of Mercy Investment Services Inc., a non-profit investment firm serving the Sisters of Mercy. He also serves on the board of The Nelson Foundation.