August 14, 2000
Treasurer of the UC Regents resigns
By Michael Reese
UC Office of the President
Patricia A. Small announced her resignation in mid-August as treasurer of the
Regents of the University of California.
Small explained that, after five years as the Regents' chief investment officer and
after nearly 29 years of service at the University of California, she now wishes
to explore different challenges and opportunities in the evolving new economy. However,
at the request of the Regents, she has agreed to continue her current duties until
a new treasurer is named, but until no later than Dec. 31, 2000.
Regents Investment Committee Chair Judith L. Hopkinson stated: "Patricia Small
has ably served the University of California for three decades. Most recently, as
treasurer, she has helped the Regents guide the university's investment funds to
their current strong position. Building on this achievement, our recently adopted
comprehensive asset allocation plan will guide our investment program going forward."
Regents Chairman S. Sue Johnson, speaking on behalf of her fellow Regents, assured
university employees of a smooth transition.
"Patricia Small has contributed in the last five years to a remarkable long-term
record of performance for the university's investments," she said. "As
we move forward, we do so from a position of strength that will help ensure the continued
safety and success of these funds under a new treasurer."
Small added: "I am proud of what I have helped to accomplish over these last
29 years, including as treasurer of the Board of Regents. During this period, the
university's assets have grown from less than $1 billion to $58 billion. In the last
five years, assets have increased by $25 billion, and we have established a strong
record of safety and performance for the university's investments. I leave with confidence
that the Regents and the Treasurer's Office will continue to ensure that the pension
funds and the benefits the university provides its employees, along with the university's
endowment, will enjoy a strong, secure future."
