The university has launched its search for its next cio after its investment head left at the beginning of the year to join an investment and wealth management firm’s outsourced cio business.
The trust company has issued an RFP seeking investment consultants for its 11 endowment funds due to the contract expiration of its incumbent provider, which is allowed to rebid.
The fund will see its deputy cio retire at the end of the year after more than 27 years of service and add a cio from a nearby fund to its investment team.
The college has hired another investment director following a search from last year as it sought to build out its investment team.
The plan approved transitioning to a new program manager in the third quarter as its previous provider was acquired earlier this year.
The university’s board of trustees voted to dissociate from 90 companies that are active in the thermal coal or tar sands segments of the fossil fuel industry in early September as part of its goal to achieve net-zero greenhouse gas emissions in its endowment.
The organization hired an investment advisor in the third quarter following a search from late 2021.
The v.p.s joined the firm’s client solutions team and will focus on nonprofits and pension plans, respectively.
The institution has released its third annual Diversified Returns report and found that the number of substantially diverse firms surveyed declined, while the number of majority diverse firms remained static year-over-year.
Endowments and foundations’ have seen substantial asset growth in recent years, “straining the system, including investment staff, IT, and various support functions,” but 71% of surveyed cios said they did not need to add more personnel.