Stanford Endowment Manager Loses Staff Amid Strategy Changes

It didn’t take long for Robert Wallace to shake up the nation’s fourth-largest endowment at Stanford University.  Four months after the 49-year-old succeeded John Powers as head of the $25 billion Stanford Management Co., several investment employees are leaving amid strategy changes initiated by Mr. Wallace, according to a spokesman.  During 2014, Stanford’s endowment earned a 14.8% return, compared with 15.5% for endowments tracked by the National Association of College and University Business Officers, or NACUBO, and Commonfund.