Often described as the “rock star” of university fundraising with an almost unparalleled record of bringing in the big gifts that vice-chancellors dream about, Jon Dellandrea has parted company with the University of Oxford amid rumours of tensions over strategy.
His sudden departure, which will see him leave his post as pro chancellor for development and external affairs, has prompted a flurry of speculation within the sector, and a warning that Oxford has lost a star performer just weeks after announcing a £1.25 billion (Rs.10,250 crore) fundraising campaign. Dr. Dellandrea’s departure also coincides with the university’s launch of a new centrally managed investment fund, Oxford University Asset Management (OUAM).
The fund marks a change in the way the university and its colleges handle current endowments of more than £3 billion (Rs.24,600 crore). Dr. Dellandrea was recruited by John Hood, Oxford’s vice-chancellor in 2005, having proved his credentials heading a successful £500 million fundraising campaign at the University of Toronto.
As head of Oxford’s 80-strong development office, he led the university’s campaign to raise £1.25 billion since it was launched in May. However rumours have been circulating about tensions over fundraising strategy between Dr. Dellandrea and a major donor, Michael Moritz, who recently gave £25 million (Rs.205 crore) to his old college, Christ Church.
Moritz, a California-based venture capitalist, demonstrated the sway donors can have over Oxford affairs when he insisted that his old college move £100 million (Rs.820 crore) from its endowments into the OUAM, when he handed over his cheque in June. There has been no comment on Dr. Dellandrea’s departure from himself or Moritz, and Oxford issued a short statement saying simply that he was leaving “to take up international consultancies”.
A senior figure in university fundraising says Dr. Dellandrea was widely regarded a ‘guru’ within university fundraising circles and that Oxford might struggle to appoint a replacement of the same calibre.
(Excerpted and adapted from Times Higher Education Supplement)