Key Takeaways
- • Berea College has appointed Joshua "Josh" Shannon as its first chief investment officer, a new dedicated role overseeing the endowment that funds its fully funded education model.
- • Shannon most recently served as deputy chief investment officer at Hershey Trust Co., where he helped oversee a multi-asset portfolio supporting Milton Hershey School, and has more than 25 years of investment experience.
- • The appointment begins a phased transition away from Hirtle & Co., a chief investment officer firm that had managed the college's investments for many years, with continuity maintained during the handover.
- • Shannon will be based in the greater New York City area, positioned near investment partners and financial markets while remaining connected to Berea's leadership and campus.
Summary
Berea College, the Kentucky institution known for its fully funded education model, has named Joshua "Josh" Shannon as its first chief investment officer, according to The Lane Report. The newly created position is dedicated to overseeing the endowment that underpins the college's commitment to providing every student with a fully funded degree. President Cheryl L. Nixon and Samantha Earp, chair of the board of trustees, announced the appointment on November 5, 2026.
Shannon brings more than 25 years of investment experience. He most recently served as deputy chief investment officer at Hershey Trust Co., where he helped lead investment strategy, asset allocation, portfolio construction, risk management and investment team development for a multi-asset portfolio supporting the Hershey Trust and, in particular, Milton Hershey School, a Pennsylvania institution that provides cost-free education to low-income students from prekindergarten through high school. His responsibilities also included working closely with trustees and organizational leadership. Earlier in his career, Shannon held investment leadership roles at Goldman Sachs Asset Management and Honeywell Capital Management, and began his career at JPMorgan. He earned an economics degree from Lafayette College and holds the Chartered Financial Analyst designation.
Nixon said the endowment is "fundamental to our promise to provide every student with a fully funded degree," adding that responsible, long-term stewardship becomes more important as the college expands its commitment. Shannon said he was honored to help steward resources supporting institutions that change lives through education.
The appointment also initiates a transition in Berea's investment management arrangements. The college has worked with Hirtle & Co., a chief investment officer firm, for many years. Berea and Hirtle & Co. will carry out a phased transition designed to maintain continuity while keeping the college's long-term mission central to investment decisions. College leaders and trustees publicly expressed appreciation for the firm's work. Shannon will be based in the greater New York City area, which provides proximity to investment partners and financial markets while he maintains close ties to Berea's leadership and campus community.
Shannon brings more than 25 years of investment experience. He most recently served as deputy chief investment officer at Hershey Trust Co., where he helped lead investment strategy, asset allocation, portfolio construction, risk management and investment team development for a multi-asset portfolio supporting the Hershey Trust and, in particular, Milton Hershey School, a Pennsylvania institution that provides cost-free education to low-income students from prekindergarten through high school. His responsibilities also included working closely with trustees and organizational leadership. Earlier in his career, Shannon held investment leadership roles at Goldman Sachs Asset Management and Honeywell Capital Management, and began his career at JPMorgan. He earned an economics degree from Lafayette College and holds the Chartered Financial Analyst designation.
Nixon said the endowment is "fundamental to our promise to provide every student with a fully funded degree," adding that responsible, long-term stewardship becomes more important as the college expands its commitment. Shannon said he was honored to help steward resources supporting institutions that change lives through education.
The appointment also initiates a transition in Berea's investment management arrangements. The college has worked with Hirtle & Co., a chief investment officer firm, for many years. Berea and Hirtle & Co. will carry out a phased transition designed to maintain continuity while keeping the college's long-term mission central to investment decisions. College leaders and trustees publicly expressed appreciation for the firm's work. Shannon will be based in the greater New York City area, which provides proximity to investment partners and financial markets while he maintains close ties to Berea's leadership and campus community.
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