Key Takeaways
- • A Midwestern foundation has appointed its first-ever chief investment officer (CIO), a role created to oversee the institution's endowment.
- • The appointment fills a vacancy left when the foundation's previous investment head departed earlier this year.
- • The former investment head left to pursue work aligning capital with climate solutions and equitable economies.
- • The hire gives the endowment a single dedicated investment executive for the first time.
Summary
Financial Investment News reports that a Midwestern foundation has named its first-ever chief investment officer, a post created to oversee the institution's endowment. The appointment places investment decision-making for the endowment under one dedicated executive for the first time.
The move follows the departure of the foundation's previous investment head earlier this year. That executive left to pursue work aligning capital with climate solutions and equitable economies.
Details on the new CIO's background, the size of the endowment, and any planned changes to its asset allocation or manager selection were not reported in the available coverage.
The move follows the departure of the foundation's previous investment head earlier this year. That executive left to pursue work aligning capital with climate solutions and equitable economies.
Details on the new CIO's background, the size of the endowment, and any planned changes to its asset allocation or manager selection were not reported in the available coverage.
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