Capital Allocators – Inside the Institutional Investment Industry Collette Chilton – Humility and Loyalty at Williams College (Capital Allocators, EP.174)
Jan 25, 2021
Collette Chilton, the CIO of Williams College, has been a formidable force in investment management since the early '90s. She shares her inspiring career journey, from pivotal roles in public and corporate pensions to overseeing a $3 billion portfolio at Williams. The conversation delves into the significance of strategic manager selection, the evolution of asset allocation, and the importance of collaboration with alumni. Collette emphasizes humility, the value of learning from mistakes, and balancing personal well-being in a high-stress industry.
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Career Start
- Collette Chilton's entry into investing was driven by necessity after her investment banking group was eliminated.
- A lawyer friend offered her a job at MassPrim, despite her lack of investing experience, saying it would be a great learning opportunity.
Public vs. Private Funds
- Public pension funds emphasize public service and managing liabilities for retirees, unlike endowments.
- Public fund managers face intense scrutiny and potential conflicts of interest due to low pay and tempting offers.
Outlandish Offer
- At MassPrim, Chilton witnessed a manager offer a car to a client-facing employee.
- The employee justified accepting it because the firm's name was on the side, treating it like promotional swag.
