Collette Chilton Named Chief Investment Officer

Media contact: Noelle Lemoine, communications assistant; tele: (413) 597-4277; email: [email protected]

WILLIAMSTOWN, Mass., August 16, 2006 — Williams College has announced the appointment of Collette Chilton to the new position of chief investment officer.

Beginning in October, she will oversee management of the college’s endowment (of approximately $1.5 billion), supervise its investment office, and serve on its Senior Staff group.

“We are excited to appoint to this new position someone of Collette’s intelligence and experience,” Williams President Morton Owen Schapiro said. “She will be a great addition to Williams.”

Chilton currently serves as president and CIO of Lucent Asset Management Corporation, where she is responsible for funds totaling more than $40 billion. She also advises the Board of Directors of Lucent Technologies on investment policy and asset allocation, risk management, and regulatory compliance; manages a 23-member investment and operations staff; and manages relationships with consultants, external actuaries, a custodian bank, investment managers, and external legal counsel.

She previously served as CIO of the Pension Reserves Investment Management Board and of the Massachusetts State Teachers’ and Employees’ Retirement Systems Trust.

Chilton earned a bachelor of science in the political economy of natural resources at the University of California, Berkeley, and an M.B.A., with a concentration in finance, at Dartmouth’s Amos Tuck School of Business Administration.

Until now, the Williams endowment, one of the largest in the country among liberal arts colleges, has been managed on a volunteer basis by the Finance Committee of the college’s Board of Trustees. The volume and complexity of overseeing an increasingly large portfolio, however, rendered that model unsustainable.

“With a chief investment officer, Williams will for the first time have an experienced professional overseeing on a day-to-day basis an operation of great importance to all that we do at the college and all that we’ll be able to do in the future,” Schapiro said. “We’re fortunate to be able to put such a large responsibility into such capable hands.”

As is typical with such positions, Chilton will be based in a financial capital, in her case Boston, and have an office on the Williams campus in Williamstown, Mass., where she will spend significant time.

“I consider this a once-in-a-lifetime opportunity to be involved in the entrepreneurial start up of a new operation,” Chilton said. “And Williams is such a fantastic school; I look forward to becoming part of the college community.”