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April 25, 2006
Contact: Marilyn S. LeFeber,
(810) 238-5651,
info@mott.org
C.S. Mott Foundation Names New Chief Investment Officer
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Michael J. Smith
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FLINT, Mich. -- Michael J. Smith, associate vice president-investments and investment manager, has been promoted to vice president and chief investment officer of the Charles Stewart Mott Foundation. He succeeds Robert E. Swaney, who is retiring May 1 after a 31-year career with the Foundation.
Smith, 57, joined the Foundation in 1978 as an investment manager. He subsequently was named assistant vice president-investments and associate vice president-investments, and has been responsible for equities, fixed income and real estate portfolios. The Foundation's in-house investment office, based in Detroit, manages approximately 89 percent of its $2.5-billion portfolio.
"We are very pleased that Mike has agreed to step into this critical leadership position," said Mott President William S. White. "His principles, long-term performance and loyalty are first-rate, and we look forward to the perspective he will bring to this new challenge."
Prior to joining Mott, Smith worked as a research analyst in the trust department at Detroit Bank & Trust. He holds a bachelor of science degree in engineering and a master's degree in business administration, both from the University of Michigan, and is a Chartered Financial Analyst. Smith served in the U.S. Air Force Reserve for eight years and reached the rank of captain. He is past president of the Financial Analysts Society of Detroit.
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Robert E. Swaney
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Swaney, 68, is credited with the development and diversification of the Foundation's investment portfolio. He was instrumental in guiding the Foundation's early private equity investments in some of the world's leading technology and Internet companies such as Microsoft Corp., Cisco Systems Inc. and eBay Inc. when they were virtual unknowns.
"Bob has been responsible for the growth and development of Mott's investment office into a professional and efficient operation," White said. "The hallmark of Bob's stewardship for more than three decades has been his absolute commitment to quality and integrity."
Swaney also has been an active volunteer in the philanthropic and higher education communities. He currently serves as chair of the investment committees of the Council of Michigan Foundations (Grand Haven, Mich.), Kettering University (Flint), and Independent Sector (Washington, D.C.). In addition, he also serves as vice chair of the State of Michigan Investment Advisory Committee, and is a member of investment advisory committee of the Trust for Civil Society (New York). He is also a trustee of Kettering University, and past president of the Financial Analysts Society of Detroit.
The Mott Foundation, established in 1926 by an automotive pioneer, is a private philanthropy committed to supporting projects that promote a just, equitable and sustainable society. It supports nonprofit programs throughout the U.S. and, on a limited geographic basis, internationally. Grantmaking is focused in four programs: Civil Society, Environment, Flint Area and Pathways Out of Poverty. Besides Flint, offices are located in metropolitan Detroit, Johannesburg (South Africa) and London. The Foundation, with 2012 year-end assets of $2.28 billion, made 439 grants totaling $91 million. For more information, visit www.mott.org.
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