Douglas W. Phillips and Steven M. Paul join Scripps Research Board of Directors

Finance and biomedical leaders bring decades of experience in investment strategy and drug development.

November 03, 2025

LA JOLLA, CA—Scripps Research has appointed distinguished leaders in finance and biomedical science, Douglas W. Phillips and Steven M. Paul, to its Board of Directors, bringing new expertise to its strategic oversight of research and education.

Phillips recently retired as senior vice president and chief investment officer at the University of Rochester, where he oversaw the institution’s pension and investment funds totaling more than $12 billion in combined assets. Under his leadership, the university’s investment portfolio consistently outperformed market benchmarks, reflecting a long-term approach to stewardship through changing economic conditions.

During his 25-year tenure at the university, Phillips founded and chaired the investment committee for the institution’s medical insurance company, which provides malpractice coverage for affiliated healthcare professionals. Earlier in his career, he guided the advancement and communications offices, laying groundwork for the Meliora Challenge: the largest capital campaign in the university’s history, which raised $1.37 billion.

Before joining the University of Rochester, Phillips spent 14 years as assistant treasurer and then treasurer at Williams College, where he managed the college’s investment portfolio. He also managed investment administration at Princeton University and is currently a member of the University of Pittsburgh Medical Center’s investment committee.

Beyond academia, Phillips has lent his financial expertise to several major organizations, completing three terms on Rotary International’s investment committee, where he also served as vice chair. He’s currently on the investment committee of the Templeton Foundation and has held similar roles with the American Red Cross and the New York State Common Retirement Fund.

Phillips and his wife, Diana, are active philanthropists who have supported numerous causes in the Rochester community. Throughout his career, Phillips has contributed to various local and cultural organizations, serving on the board of the Al Sigl Foundation, the Gateways Music Festival, the Rochester Philharmonic Orchestra, and the Rochester Rotary Charitable Trusts.

To recognize his exceptional stewardship of institutional endowments, Phillips was honored in 2010 with the Rodney H. Adams Award from the National Association of College and University Business Officers. In 2020, he received the Rochester Business Journal’s Icon Award for his professional accomplishments and enduring contributions to the Rochester community.

Phillips holds an MBA from Rensselaer Polytechnic Institute and BA degrees in English and Business Administration from Rutgers University.

Complementing Phillips’ background in finance and institutional management is Paul—a neuroscientist, psychiatrist and biopharmaceutical executive with decades of leadership experience across academia, industry and venture creation. Now a professor of psychiatry and neurology at Washington University in St. Louis School of Medicine, Paul formerly served as founding director of the Appel Alzheimer’s Disease Research Institute at Weill Cornell Medical College. His research has not only deepened understanding of the biological mechanisms underlying psychiatric and neurological disorders, but it’s also influenced approaches to drug development for diseases of the brain and central nervous system.

As founder of Seaport Therapeutics and co-founder of Rapport Therapeutics, Paul continues serving as board chair of both biopharmaceutical companies, which focus on developing treatments for neurological and psychiatric disorders. He’s also a venture partner at Third Rock Ventures, a healthcare investment firm that supports emerging biopharmaceutical companies. Previously, he was president and chairperson of the biotechnology company Karuna Therapeutics.

Paul is currently chairman of the board of the Foundation for the National Institutes of Health (FNIH), and The Administrators of the Tulane Educational Fund. His past service includes board positions with the Alzheimer’s Drug Discovery Foundation, the Brain and Behavior Research Foundation, and the U.S. Food and Drug Administration.

In addition, Paul devoted nearly two decades each to the National Institute of Mental Health, where he was scientific director, and to pharmaceutical giant Eli Lilly and Company, where he oversaw global research and development as executive vice president for Science and Technology and president of Lilly Research Laboratories.

Paul’s career has been recognized with the Distinguished Service Medal of the U.S. Public Health Service Commissioned Corps, the Chief Scientific Officer of the Year award (an Annual Pharmaceutical Achievement Award), and the Tulane Medicine Lifetime Achievement Award. He was also elected to the National Academy of Medicine and the American Association for the Advancement of Science.

A committed advocate for science education, Paul has made significant philanthropic contributions, including a gift to establish the Steven and Jann Paul Hall for Science and Engineering at Tulane University, and to create the FNIH Paul-Gallin Trailblazer Prize for Physician-Scientists.

Paul earned his MD, MS degrees in Anatomy and Neuroanatomy, and BA degrees in Biology and Psychology from Tulane University.

Together, Phillips and Paul bring extensive experience from academia and industry to the Scripps Research Board of Directors, where their insight will help guide the institute in its mission to improve human health through scientific discovery.

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