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Investment Chief Named

Robert F. Wallace, chief executive officer at a London-based private investment firm, has been named to succeed John Powers as president and CEO of the Stanford Management Company. The company oversees more than $25 billion in endowment and trust assets, temporarily invested expendable funds and commercial real estate investments.

Wallace leaves Alta Advisers, where he was chief investment officer as well as CEO. Previously he worked at the Yale Investments Office, which manages that university's endowment. Powers announced in the fall that he would be departing Stanford Management Company this year after nine years as president and CEO.

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