Thomas Britton Harris IV
Encyclopedia
Thomas Britton "Britt" Harris IV is the current chief investment officer
of the Teacher Retirement System of Texas
(TRS), the public pension for the state of Texas
. Harris was the former chief executive officer
of Bridgewater Associates
and the president
and chief investment officer of Verizon Investment Management, Verizon Communications'
employee benefit
trust
.
with a degree in finance
in 1980. He began his career at Texas Utilities, leaving to join Asea Brown Boveri. He was then named chief investment officer
of Verizon Investment Management, subsequently leaving to manage Bridgewater Associates
, at the time the largest hedge fund
in the world. Harris spent only six months at Bridgewater due to a culture fit problem, however Ray Dalio
, the firm's founder and investment manager following Harris' departure, noted that "Mr. Harris is a superstar, with an absolutely fantastic character." Following Bridgewater, Harris was appointed chief investment officer of the Teacher Retirement System of Texas
, Texas'
public pension
plan.
Harris has also served in several leadership positions in the investment community, including chairman of the Council for the Investment of Employee Benefit Assets and an advisor
to the New York Stock Exchange
. He is currently an executive professor of finance at Texas A&M University
and has served as a guest lecturer
at Harvard University
and Yale University
.
and is an active member in the Christian
community.
Chief investment officer
The chief investment officer is a job title for the board level head of investments within an organization. The CIO's purpose is to understand, manage, and monitor their organization's portfolio of assets, devise strategies for growth, act as the liaison with investors, and recognize and avoid...
of the Teacher Retirement System of Texas
Teacher Retirement System of Texas
Teacher Retirement System of Texas is a public pension plan of the State of Texas. Established more than 70 years ago, TRS provides retirement and related benefits for those employed by the public schools, colleges, and universities supported by the State of Texas and manages a more than $107...
(TRS), the public pension for the state of Texas
Texas
Texas is the second largest U.S. state by both area and population, and the largest state by area in the contiguous United States.The name, based on the Caddo word "Tejas" meaning "friends" or "allies", was applied by the Spanish to the Caddo themselves and to the region of their settlement in...
. Harris was the former chief executive officer
Chief executive officer
A chief executive officer , managing director , Executive Director for non-profit organizations, or chief executive is the highest-ranking corporate officer or administrator in charge of total management of an organization...
of Bridgewater Associates
Bridgewater Associates
Bridgewater Associates is an American investment management firm founded by Ray Dalio in 1975 and is reported to be the world's largest hedge fund company with $122 billion in assets under management. The company has 270 clients including pension funds, endowments, foundations, foreign governments...
and the president
President
A president is a leader of an organization, company, trade union, university, or country.Etymologically, a president is one who presides, who sits in leadership...
and chief investment officer of Verizon Investment Management, Verizon Communications'
Verizon Communications
Verizon Communications Inc. is a global broadband and telecommunications company and a component of the Dow Jones Industrial Average...
employee benefit
Remuneration
Remuneration is the total compensation that an employee receives in exchange for the service they perform for their employer. Typically, this consists of monetary rewards, also referred to as wage or salary...
trust
Investment trust
An Investment trust is a form of collective investment found mostly in the United Kingdom. Investment trusts are closed-end funds and are constituted as public limited companies....
.
Career
Harris graduated from Texas A&M UniversityTexas A&M University
Texas A&M University is a coeducational public research university located in College Station, Texas . It is the flagship institution of the Texas A&M University System. The sixth-largest university in the United States, A&M's enrollment for Fall 2011 was over 50,000 for the first time in school...
with a degree in finance
Finance
"Finance" is often defined simply as the management of money or “funds” management Modern finance, however, is a family of business activity that includes the origination, marketing, and management of cash and money surrogates through a variety of capital accounts, instruments, and markets created...
in 1980. He began his career at Texas Utilities, leaving to join Asea Brown Boveri. He was then named chief investment officer
Chief investment officer
The chief investment officer is a job title for the board level head of investments within an organization. The CIO's purpose is to understand, manage, and monitor their organization's portfolio of assets, devise strategies for growth, act as the liaison with investors, and recognize and avoid...
of Verizon Investment Management, subsequently leaving to manage Bridgewater Associates
Bridgewater Associates
Bridgewater Associates is an American investment management firm founded by Ray Dalio in 1975 and is reported to be the world's largest hedge fund company with $122 billion in assets under management. The company has 270 clients including pension funds, endowments, foundations, foreign governments...
, at the time the largest hedge fund
Hedge fund
A hedge fund is a private pool of capital actively managed by an investment adviser. Hedge funds are only open for investment to a limited number of accredited or qualified investors who meet criteria set by regulators. These investors can be institutions, such as pension funds, university...
in the world. Harris spent only six months at Bridgewater due to a culture fit problem, however Ray Dalio
Ray Dalio
Ray Dalio is an American businessman and founder of Bridgewater Associates.-Early Life and Education:...
, the firm's founder and investment manager following Harris' departure, noted that "Mr. Harris is a superstar, with an absolutely fantastic character." Following Bridgewater, Harris was appointed chief investment officer of the Teacher Retirement System of Texas
Teacher Retirement System of Texas
Teacher Retirement System of Texas is a public pension plan of the State of Texas. Established more than 70 years ago, TRS provides retirement and related benefits for those employed by the public schools, colleges, and universities supported by the State of Texas and manages a more than $107...
, Texas'
Texas
Texas is the second largest U.S. state by both area and population, and the largest state by area in the contiguous United States.The name, based on the Caddo word "Tejas" meaning "friends" or "allies", was applied by the Spanish to the Caddo themselves and to the region of their settlement in...
public pension
Pension
In general, a pension is an arrangement to provide people with an income when they are no longer earning a regular income from employment. Pensions should not be confused with severance pay; the former is paid in regular installments, while the latter is paid in one lump sum.The terms retirement...
plan.
Harris has also served in several leadership positions in the investment community, including chairman of the Council for the Investment of Employee Benefit Assets and an advisor
Advisor
An advisor is normally a person with more and deeper knowledge in a specific area i.e. a specialist and may refer to:-Finances:*Commodity trading advisor, any person who engages in the business of advising others...
to the New York Stock Exchange
New York Stock Exchange
The New York Stock Exchange is a stock exchange located at 11 Wall Street in Lower Manhattan, New York City, USA. It is by far the world's largest stock exchange by market capitalization of its listed companies at 13.39 trillion as of Dec 2010...
. He is currently an executive professor of finance at Texas A&M University
Texas A&M University
Texas A&M University is a coeducational public research university located in College Station, Texas . It is the flagship institution of the Texas A&M University System. The sixth-largest university in the United States, A&M's enrollment for Fall 2011 was over 50,000 for the first time in school...
and has served as a guest lecturer
Lecturer
Lecturer is an academic rank. In the United Kingdom, lecturer is a position at a university or similar institution, often held by academics in their early career stages, who lead research groups and supervise research students, as well as teach...
at Harvard University
Harvard University
Harvard University is a private Ivy League university located in Cambridge, Massachusetts, United States, established in 1636 by the Massachusetts legislature. Harvard is the oldest institution of higher learning in the United States and the first corporation chartered in the country...
and Yale University
Yale University
Yale University is a private, Ivy League university located in New Haven, Connecticut, United States. Founded in 1701 in the Colony of Connecticut, the university is the third-oldest institution of higher education in the United States...
.
Personal
Harris is married and has four children. He currently lives in Austin, TexasAustin, Texas
Austin is the capital city of the U.S. state of :Texas and the seat of Travis County. Located in Central Texas on the eastern edge of the American Southwest, it is the fourth-largest city in Texas and the 14th most populous city in the United States. It was the third-fastest-growing large city in...
and is an active member in the Christian
Christian
A Christian is a person who adheres to Christianity, an Abrahamic, monotheistic religion based on the life and teachings of Jesus of Nazareth as recorded in the Canonical gospels and the letters of the New Testament...
community.