Ann Bennett Spence

Managing Director (retired), Cambridge Associates LLC
Exeter, NH

Ann was a Managing Director at Cambridge Associates LLC, a global investment advisory firm, where she headed the Enterprise Advisory (EA) practice. For institutions with endowments, the EA practice focuses on the role of the long-term investment portfolio within the context of the institution’s business model, covering the areas of strategic planning, enterprise risk, capital campaign assessment, and Board governance. Over the course of 35 years, Ann has worked with a great many colleges, research universities, museums, hospitals, foundations, independent schools, and others with an endowment or other form of permanent capital – both in the US and in other countries. Recently, as the “outsourced chief investment officer” (OCIO) model has come to the fore, governance studies have become particularly important. Ann’s prior experience included strategy consulting at Bain & Co., financial planning as an associate dean at Harvard College, and auditing at KPMG. She retired in 2017.

Ann has served on the Governance Committee, Audit Committee, and Finance Committee of the Board of the Beth Israel Deaconess Medical Center, a Harvard teaching hospital; and is a Board member of the Endeavor Foundation in New York City, which funds liberal arts colleges. She also serves on the Advisory Council of the Stanford Center on Longevity.

Ann has an MBA from Stanford University, an MA in East Asian Studies from Harvard University, and a BA from Wellesley College. Because her father was a US Foreign Service Officer in China, Taiwan, Israel, Nigeria, and Vietnam, her upbringing was non-US. It was also bicultural, inasmuch as her mother was Chinese (from Beijing) and both parents focused their lives on Asia. Ann is married to Richard (Rick) Bowers, and she has three adult children.

Partner: Richard Bowers