Chip Mason selected to chair trustee board

The Johns Hopkins University Board of Trustees selected Raymond A. "Chip" Mason, founder of Legg Mason, Inc. financial services, to serve as its chair-elect. Mason will serve a one-year term as chair-elect before taking over for current chair Michael Bloomberg, whose six-year term will end in May 2002.

"He is one of the most thoughtful and brilliant and foresighted people on the board, and that's quite a statement," said Shale D. Stiller, chairman of the Nominating Committee, the committee responsible for choosing Mason. He was selected for his involvement at Board meetings as well as his success in running Legg Mason, Stiller explained.

While there had been many options for the position, ultimately Mason was chosen unanimously, Stiller said.

Mason feels his leadership powers have prepared him for the appointment, although he admitted following Bloomberg may be difficult. Mason said he is less financially endowed, for example.

"As I've indicated to Michael for quite some time, there is [substantially] less ink in my pen than his," said Mason.The Board of Trustees chair is someone who has been actively involved with the Board as a whole and shows outside leadership abilities, according to Jerome Schnydman, Board secretary.

"Someone who cares deeply about Johns Hopkins, someone who has been very active on the board and has done a good job on the board - those are the broad based things that would lead one to be considered to be chairman," said Schnydman.

According to committee bylaws, the chair can serve for only one six-year term and must serve as chair-elect for a year prior. The dozen-person Nominating Committee chooses a slate of officers, which is approved by 62 members of the full board.

Mason "has done a wonderful job as chair of investment committee," said Schnydman. "He has a great insight as to how an organization should work."

Although Mason never attended Hopkins, the University interests him because of the impact it has on the community, Mason explained.

"It is, I'd say, arguably, the most important thing in the city and state.. If my goal is to be helpful to this region, this is the institution that is making the biggest impact," said Mason.

The role of undergraduates is important, according to Mason, although the school needs to continue letting them create their own identity.

"The undergraduate side itself sort of needs to have its own life and not get lost in this great institution.. Hopkins was founded on a system that was a graduate system," said Mason. While the University has taken strides towards improving undergraduate life such as renovating dorms and building the Mattin Arts Center, he feels progress should continue, though he said it is still too early to discuss specifics.

Mason said he remembers his undergraduate experiences fondly.

"I think that college tends to be. one of the great experiences, if not the greatest experience of your life," said Mason. The amount of freedom I had, the ability to direct my life the way I want to direct it.. That's the way most people should enjoy and envision college."

Mason graduated from the College of William and Mary in 1959 with a Bachelors degree in Economics. He founded Mason and Company in 1962, now the Baltimore-based Legg Mason financial services.