cornell university chief investment officer

Cornell University funds may be used for ordinary, reasonable, and actual business-related expenses incurred in furtherance of the university's missions. A.J. PDF Standards of Ethical Conduct and Chief Financial Officer Ms. DeStefano is a 1978 graduate of Syracuse University with a bachelor of science in accounting, and a 1997 recipient of a master of business administration in finance from the Curtis Johnson Graduate School of Management at Cornell University. Cornell University2023University PrivacyWeb Accessibility Assistance. "I look forward to my continued work with them as we prepare Weill Cornell Medicine for what comes next," he added. YLP`-V`af;R$6(5(- %PDF-1.6 % Cornell University expects costs to be charged to the appropriate sponsored project account when first incurred. A key component to the institutions long-term growth centers on increasing its clinical footprint in New York. This policy is being revised and is unavailable at this time. Kenneth Miranda of the IMF Named Cornell's Chief Investment Officer Efforts are underway to identify opportunities for future clinical growth, which will have important implications for the institution as a whole: Clinical revenue is the economic engine of Weill Cornell Medicine and provides the financial oxygen for its esteemed research and education programs, he said. Karl Perman Joins GigNet, Inc. as Chief Security Officer (Photo: Business Wire) Mr. Perman has served critical infrastructure sectors as a senior advisor to assess and transform security and . About Building the new economy in Web3. New York, NY 10065 In this section: Search Committee ( see below) The Office of University Investments implements policies established by the board of trustees and its Investment Committee. Cornell University recharge entities recover some or all of the cost of their products and services through user fees, subject to the requirements outlined in this document. The university will accommodate those full- and part-time employees with valid business needs for mobile communication devices by issuing university-owned mobile communication devices. Weill Cornell Medicine is conducting a national search for the second administrative position: executive vice provost and chief operating officer. Cornell University Endowment Chief Was Paid $1.9 Million in 2018 The review process will begin immediately upon receipt of materials. Executive Vice President and Chief Financial Officer | Cornell Scott Puccino, a distinguished financial and business strategist who has dedicated three decades of his career to Weill Cornell Medicine, has been appointed the institutions chief financial officer, effective Feb 1. Miranda will manage Cornell's $6 billion investment portfolio and lead the Office of University Investments, starting July 1. In terms of approach, I tend to look at big changes, big themes, to identify market inefficiencies, growth bottlenecks and forced selling pressure that tend to generate the environment for outsized returns, he said. Interim Provost for Medical Affairs; Interim Dean of Weill Cornell Medicine, Deputy Provost and Presidential Advisor for Diversity and Equity, Chair, Vice President for Facilities and Campus Services, Vice President and Chief Global Information Officer, Chief of Staff and Special Counsel to the President, Executive Vice President and Chief Financial Officer, Vice President for Student and Campus Life, Vice President and Chief Human Resources Officer, Vice President for Alumni Affairs and Development, Vice President for Research and Innovation, Joseph Silbert Dean of the College of Engineering, Dean of the Ann S. Bowers College of Computing and Information Science, Dean of the Jeb E. Brooks School of Public Policy, Dean of the Graduate School and Vice Provost for Graduate Education, Kenneth F. Kahn Dean of the School of Industrial and Labor Relations, Rebecca Q. and James C. Morgan Dean of the College of Human Ecology, Ronald P. Lynch Dean of the College of Agriculture and Life Sciences, Harold Tanner Dean of the College of Arts and Sciences and Hans A. Bethe Professor, Charles Field Knight Dean of the Cornell SC Johnson College of Business, Dean of the School of Continuing Education, Jack and Rilla Neafsey Dean and Vice Provost of Cornell Tech, Anne and Elmer Lindseth Dean of the Samuel Curtis Johnson Graduate School of Management, Dean of the Peter and Stephanie Nolan School of Hotel Administration and E. M. Statler Professor of Hotel Administration, Austin O. Hooey Dean of the College of Veterinary Medicine, Gale and Ira Drukier Dean of the College of Architecture, Art, and Planning, Dean of the Charles H. Dyson School of Applied Economics and Management, Vice Provost for Engagement and Land-Grant Affairs, Dean, Weill Cornell Medical College-Qatar, Dean, Weill Cornell Graduate School of Medical Sciences, Executive Vice Provost, Administration and Finance, Associate Vice President, Deputy General Counsel, and Secretary of the Medical College, President and CEO, Physician Organization, Senior Associate Dean, Innovation and Initiatives, Senior Associate Dean, International Affairs and Affiliations. endobj He highlighted the expertise of Director of Budget and Institutional Resources Andrew Rosenau; Senior Director of Institutional Reporting and Analytics Susan Vuong; Senior Director of Administration Thomas Blair; Controller Joseph Schwartz and his longtime assistant Nadeige Fortune. The University Board of Trustees is responsible for strategic management of all investable funds, and implements policy through the Investment Committee of the Board. The EVP is the chief financial and administrative officer responsible for directing theservices in support of the academic mission. Prior to Cornell, Walsh spent 11 years at Hermes Investment Management in London, where he became head of strategy and alternatives, after being the firm's chief economist. favorite_border. The Executive Vice President and Chief Financial Officer ("EVP" or "EVP/CFO"), reporting to the President, is the most senior non-academic officer for the university. The president is elected by the Board of Trustees and, once elected, sits as an ex officio member of the board and of all its standing committees except the Audit Committee. As the most senior non-academic officer for the university, the EVP and CFO is the chief financial and administrative officer responsible for directing the financial and administrative services in support of the academic mission. Cornell University requires salary confirmation for individuals paid with sponsored funds, federal appropriations, or committed cost sharing. endobj The effectiveness of this effort is dependent on the development of periodic review of comprehensive plans. Accordingly . Zh4=4GdgasVvMosT+ti @@SGc09(FeDXK] (I+'C-toYpgO9",& s -- ? Puccino will help evaluate the institutions real estate investments, ensuring that Weill Cornell Medicines leases for its administrative offices reflect current and future need. Walsh reports jointly to President David Skorton and Board of Trustees Investment Committee Chair Paul Gould, who said, "James has managed our endowment office professionally during a very difficult economic period, and we have appreciated his leadership. September 2021 Quarterly Report. As the most senior non-academic officer for the university, the EVP and CFO is the chief financial and administrative officer responsible for directing the financial and administrative services in support of the academic mission. 3 0 obj The president is the chief executive and educational officer of the university and is charged with responsibility for providing general supervision over all affairs of the university. He will seek to increase Weill Cornell Medicines clinical footprint throughout New York City, invest in the institutions biomedical research activities with the goal of increasing sponsored research opportunities, and oversee the financial planning for a new student residence. Cornell Universitys central administration establishes all university accounts with banks and other financial institutions using university funds. Michael Abbott, Cornell's chief investment officer, stepped down on Sunday, according to Vice President for University Communications Tommy Bruce.The reason for Abbott's departure remains . CORNELL UNIVERSITY POLICY LIBRARY POLICY 4.6 Volume: 4, Governance/Legal Chapter: 6, Standards of Ethical Conduct Responsible Executive: President Responsible Offices: Provosts/Executive Vice President and Chief Financial Officer Originally Issued: October 1996 Last Updated: February 8, 2021 Standards of Ethical Conduct POLICY STATEMENT Cornell University allows the use of approved video surveillance systems through a transparent process, subject to rules governing equipment installation and employment, and use of the resulting recorded material. The EVP is the chief financial and administrative officer responsible for directing the services in support of the academic mission. If you have a disability and are having trouble accessing information on this website or need materials in an alternate format, contactweb-accessibility@cornell.edufor assistance. Cornell University. The university does not discuss personnel matters and will have no further comment. . The positive projections for the performance of Cornell's endowment and other investments, which are exceeding expectations, will not be affected. The minimum investment amount for an FFE is $100,000. Vice President for University Communications Tommy Bruce issued the following statement May 2: Michael Abbott stepped down from his position as chief investment officer at Cornell University May 1. Get Cornell news delivered right to your inbox. 474 0 obj <> endobj The Committee establishes. GigNet Names Karl Perman as Chief Security Officer endobj Kelly E. Cunningham Chief of Staff and Special Counsel to the President Joanne M. DeStefano Executive Vice President and Chief Financial Officer Ryan T. Lombardi Vice President for Student and Campus Life Christine D. Lovely Vice President and Chief Human Resources Officer Joel M. Malina Vice President for University Relations Kenneth M. Miranda Jq3oPgK2Gs7(WUg\ The Executive Vice President and Chief Financial Officer ("EVP" or "EVP/CFO"), reporting to the President, is the most senior non-academic officer for the university. "Cornell is a wonderful place. . This policy does not apply to any advance payment required by a vendor. Walsh has been responsible for managing the university's investments since 2006 and directing an office that grew to 25 people from 17 during his tenure. We are fortunate to hire someone of Kens caliber. Its been an absolute blessing to work for Steve Cohen; hes been an outstanding leader and an incredible mentor to me.. Chief investment officer announces he will leave Cornell Chief Investment Officer. In addition, device holders are required to, Executive Vice President and Chief Financial Officer, Personal and Private Activity Using University Property and Facilities, Accepting Credit Cards to Conduct University Business, Charging Directly to Sponsored Projects Costs that are Normally Considered Indirect, Advances (Including Petty Cash and Accounts Receivable), Safekeeping of Financial Assets, Including Cash, Checks, and Securities, Establishing and Maintaining Accounts at Banks and Financial Institutions, Formulation and Issuance of University Policies, Responsible Use of Video Surveillance Systems, Management of Keys and Other Access Control Systems. 7qNa6z)( Mr. Girish V. Reddy (Chair): Mr. Donald C. Opatrny: Mr. J. Allen Smith (Vice-Chair): President Martha E. Pollack Cornell University: Mr. Douglas Braunstein Hudson . CU Foundation Funds We have a great team, he said. Executive Vice President and Chief Financial Officer | University Policy Cornell University hiring Executive Vice President and Chief Financial Director of the IMFs investment office since 2000, Miranda also has been a member of the Cornell University Board of Trustees Investment Committee since February 2012. Cornell's colleges and schools encompass more than 100 fields of study, with locations in Ithaca, New York, New York City and Doha, Qatar. Cornell University funds may be used for ordinary, reasonable, and necessary business-related travel expenses incurred in furtherance of the university's missions. Executive Vice President and Chief Financial Officer Scott Puccino Appointed Chief Financial Officer of Weill Cornell It had become apparent that his style of conducting business is inconsistent with Cornell's policies and expectations. Edwards has served as senior investment officer since March 2008. Further, the university expects all members of the university community who are accountable for financial, Cornell University uses its property and facilities, primarily, to further its mission of learning, discovery, and engagement. Cornell University invites applications and nominations for the position of Executive Vice President (EVP) and Chief Financial Officer (CFO). Joanne DeStefano is the Executive Vice President (EVP) and Chief Financial Officer (CFO) for Cornell University. Given his experience in global investing, Miranda said he expects to globalize the return streams of the endowment. He has a clear understanding of todays complex and rapidly changing investment environment, said Opatrny. Office of University Investments. He will also work closely with Joanne DeStefano, chief financial officer of Cornell University. Presidential Advisor for Diversity and Equity, Ann S. Bowers College of Computing and Information Science, Samuel Curtis Johnson Graduate School of Management, Peter and Stephanie Nolan School of Hotel Administration, College of Architecture, Art, and Planning, Charles H. Dyson School of Applied Economics and Management, Weill Cornell Graduate School of Medical Sciences. Cornell University acquires, records, inventories, maintains, and disposes of capital assets. Here are the highlights: Endowment growth This policy includes a chain of command, Cornell University requires that departments and units maintain control of all devices and systems that provide access to university facilities and vehicles. Cornells endowment is in very good hands, DeStefano said. He also lauded colleagues Assistant Vice Provost for Operations and Support Services Patrick Gallagher; Chief Information Officer Dr. Curtis Cole; Assistant Vice Provost for Capital Planning Dmitri Konon; and Managing Director of Business Systems and Operations Adam Garriga. Ms. DeStefano began her tenure with the university in 1990 as the general accounting manager for the contract colleges, having held several positions with progressive responsibility within the finance division, most recently vice president for finance and CFO. Leadership | Board of Trustees | Office of the President | Office of the Provost | Senior Administration. Account Reversion; KFS Payment Processing E-docs (DV, PREQ, PCDO) Cash Deposits at Year-End; Revenue and Expense Year-End Accruals; Deadlines; Business Service Centers. His high-level expertise in long-term investments means he is poised to meet Cornells unique needs, goals and risk tolerance. Choi, the Stephen and Suzanne Weiss Dean of Weill Cornell Medicine. Search for Executive Vice President and Chief Financial Officer Units of the university that have activities that generate unrelated business income will be charged all applicable income taxes. Cornell University requires anyone handling cash, checks, or securities on its behalf to safeguard these assets by applying appropriate internal controls, and that securities be managed in compliance with the bylaws of the Board of Trustees. In the year and a half since Kenneth Miranda stepped up to lead Cornell's investment office as chief investment officer, the team has reported strong endowment returns, implemented new investment strategies for 2017, and completed phase one of a move to New York City. Nationally, she is a member of the National Association of College and University Business Officers (NACUBO), and has held board of director positions with the Kuali Foundation and the Council on Governmental Relations (COGR). Cornell University will form a university-related subsidiary or affiliate, or acquire a controlling interest in a separate entity, only if there is compelling legal and/or business justification. In the unlikely event that a unit must ask the university to establish and maintain a separate account, the university requires the unit to institute, The university will accommodate those full- and part-time employees with valid business needs for mobile communication devices by issuing university-owned mobile communication devices. Edwards, who stepped down from the post March 31. Chief Investment Officer Abruptly Steps Down - The Cornell Daily Sun Report this profile Report Report. March 2021 Quarterly Report. Contacts . The Investment Office is responsible for implementing policies establishedby the University Board of Trustees and its Investment Committee. Tel: 646-973-4400 1155 Avenue of the Americas Suite 1850 New York, NY 10036 investment@investment.cornell.edu corefixed@investment.cornell.edu At the same time Im very focused on managing the risk and the downside protection of the portfolio through quantitative techniques.. . Leadership | Cornell University 1 0 obj <>/ExtGState<>/XObject<>/ProcSet[/PDF/Text/ImageB/ImageC/ImageI] >>/Annots[ 29 0 R] /MediaBox[ 0 0 612 792] /Contents 4 0 R/Group<>/Tabs/S/StructParents 0>> The core team of professionals in the university's investment office is already working effectively with the investment committee of the Cornell Board of Trustees to implement a smooth transition and ensure that the university meets its investment targets. Executive Vice President and Chief Financial Officer | Cornell University Division of Financial Affairs Home Business Tools forms CU policies training KFS Support e-SHOP Executive Vice President and Chief Financial Officer There is currently no content classified with this term. 1300 York AvenueBox 314 Senior Leadership | Leadership | Cornell University He is a chartered financial analyst. ", Skorton added, "Working with the Investment Committee, James helped the university weather the downturn and begin to regain much needed equilibrium in its investment performance. Asset Allocation October 7, 2022 Yale Endowment Gains 0.8%, Duke, Cornell Post Small Losses in 2022. Note: On occasion, the Office of University Investments or the Office of Trusts, Estates, and Gift. This policy establishes these circumstances and the procedures for making such advances. Aditya Misra. Visionary leadership from our dean and from the Board of Fellows have led us to this moment, and will be critical to us reaching the next level., Weill Cornell MedicineOffice of External Affairs He will also work closely with Joanne DeStefano, chief financial officer of Cornell University. I look forward to my continued work with them as we prepare Weill Cornell Medicine for what comes next, he added. R(jG=[@8} Jd?b>cD"n'Q)AYvy*)4(*6"$!8j#?i UO^ 2h. Academic and administrative units are, Cornell University organizes, coordinates, and directs available resources toward an effective response to, and recovery from, any emergency. I also feel proud to be leaving a stronger and more professional investment office than the one I found when I arrived.". I have had the honor to work with a great group of talented and dedicated people, and I've learned a lot during my time here that I will apply to new endeavors in the U.K. Office Staff | Office of University Investments She has over 20 years of administrative experience. Cornell's investment - Giving to Cornell | Cornell University Get Cornell news delivered right to your inbox. l[c.2HK@)'W@]!$xB8K@! Senior Investment Officer: Sean Graham Senior Investment Officer, Operations (Head of Operations) Mihir Meswani Senior Investment Officer: Anthony Thai, CFA Senior Investment Officer: Roger B. Vincent Jr. Senior Investment Officer: Sean Olesen, CFA, CAIA Investment Officer: Andrew Park, CFA, FRM Investment Officer Over the past four years the Investment Committee has come to value Kens astute analytical skills and his remarkably thoughtful contributions to our dialogues. 20-Apr-2016 10:05 AM EDT , by Cornell University. These stewards of, Cornell University formally approves, issues, and maintains in a consistent format, official university policies in a central policy library. The university recognizes the need for personal telephone use, but expects individuals to pay directly for personal long-distance telephone calls. Newswise ITHACA, N.Y. - Kenneth Miranda, director of the International Monetary Fund's (IMF) investment office, has been . Under Walsh's tenure, Cornell's endowment successfully avoided many of the liquidity problems that affected those of its peers last year. Miranda will manage Cornells $6 billion investment portfolio and lead the Office of University Investments, starting July 1. As the most senior non-academic officer for the university, the EVP is the chief financial and administrative officer responsible for directing the financial and administrative services in support of the academic mission. Edwards to step down. Cornell University Archives | Chief Investment Officer Ive also been fortunate to work alongside a number of really talented people at Weill Cornell Medicine, whose unwavering support have made this role possible. 4 0 obj This includes understanding workload and cost implications of the cost-sharing commitment; determining when cost sharing is necessary and appropriate; and accurately recording and reporting. Current-Year Long-Term Investment Pool Rates; Prior-Year Long-Term Investment Pool Rates; Investing in the Long-Term Investment Pool; Investment Glossary; Year-End. Chief Investment Officer Michael Abbott steps down | University x\Yo~7G(JE v"E&n/#;693\Y(QM-,sjqY]WWZ]^J~_=VoO{|X||juL^'I *VfHH|]h{.oHR$7G$?0L8 endstream endobj startxref Vice President for University Communications Tommy Bruce issued the following statement May 2: Michael Abbott stepped down from his position as chief investment officer at Cornell University May 1. The review process will begin immediately upon receipt of materials. Search for Executive Vice President and Chief Financial Officer, Chief of Staff and Special Counsel to the President; Chair, Search Advisory Committee, Charles Field Knight Dean of the Cornell SC Johnson College of Business, Vice President and Chief Human Resources Officer, Senior Associate Dean for Clinical Affairs, Weill Cornell Medicine, Chief Administrative Officer, Cornell Tech. Benjarong Suwankiri - Chief Strategy Officer (Senior Executive Vice The Investment Office helps support the Universitys mission of being a top research university that provides accessibility to students. Back Submit. In managing these funds, he made investments across a broad array of asset classes, themes, strategies and managers. %%EOF At such times, the university has a prescribed method for evaluation and communication of these changes to university staff, faculty, and students. It is the responsibility of each operating unit to use, account for, and report such program income properly. All inquiries and materials will be held in confidence. Cornell University, through its operating units, generates income as a result of sponsored projects or federal appropriations. Ithaca, NY 14850, Cornell University requires all operating units to develop their own unit-specific financial internal control plans using guidelines provided by the Office of the University Controller. Edwards will assume Abbott's responsibilities on an interim basis until the university has identified a suitable replacement. The Chief Investment Officer is responsible for the day-to-day oversight of the Investment Office, and is supported by a dedicated team of investment professionals.