Howard Hughes Medical Institute CIO to retire
Landis Zimmerman
Landis Zimmerman, vice president and chief investment officer of the Howard Hughes Medical Institute, will retire later this year, confirmed Jim Keeley, spokesman for the $21 billion endowment.
An official departure date for Mr. Zimmerman s retirement has not been specified.
Mr. Zimmerman said in a news release that it was difficult to leave HHMI, but that he was confident that (the) endowment is in very good hands.
Mr. Zimmerman has been CIO of the institute since 2004.
HHMI has retained executive search firm David Barrett Partners to seek a replacement. Mr. Keeley added that the institute does not anticipate a gap between Mr. Zimmerman leaving and hiring a new CIO.
Smith College parts with OCIO, will manage its assets in-house
Smith College will hire internal staff to manage its endowment.
Smith College plans to hire its first chief investment officer and manage its $2 billion endowment internally after using outsourced CIO Investure LLC for 16 years.
An open letter to students, staff, faculty and alumni signed by Smith College President Kathleen McCartney and board Chairwoman Alison Overseth said the Northampton, Mass.-based school’s board of trustees “has decided to establish its own in-house investment office” after having “outsourced the management of its endowment to Investure” since 2004. The decision was made “following more than a year of deliberation.”
Why Smith College Is Moving Its Endowment In-House
The $2 billion fund, now in the market for its first CIO, decided it’s big enough to shift asset management internally.
Smith College is about to start a search for the inaugural investment chief for its endowment, which it will move to internal management after outsourcing assets for more than a decade, the school said Thursday.
A search for the chief investment officer at the women’s school in Northampton, Massachusetts, will be conducted by executive search firm David Barrett Partners, and overseen by investment committee chair Deborah Farrington, an alumna of the school.