NYU CIO Steps Down
The $5.3 billion endowment has not yet named a replacement for Kathleen Jacobs.
After eight years at the helm, New York University chief investment officer Kathleen Jacobs is stepping down.
On Friday, Jacobs confirmed that she’s leaving the endowment. But she declined to comment on the steps she’s taking next in her career. Under her oversight, NYU’s endowment has grown by roughly $2.3 billion. Cynthia Nascimento, managing director of investments, is also leaving the endowment on September 30. According to a source familiar with the matter, returns for fiscal year 2023 were 11.5 percent, bringing total assets to $5.9 billion.
Jacobs began her career in investment banking, first at JPMorgan, then at Goldman Sachs. She became an allocator in 2007, when she joined the Juilliard School Endowment.
After nearly two years with the Juilliard endowment, Jacobs joined NewYork-Presbyterian Hospital. She worked there from the global financial crisis through 2015, when she joined NYU. At Presby, Jacobs played a leading role in asset allocation and manager selection.
Her departure from NYU follows that of Lou Fernandes, a high-ranking managing director who left in January to become the CIO of the Museum of Modern Art.
The move comes at a busy time for CIO departures, including James Williams from J. Paul Getty Trust, Ziad Hindo from the Ontario Teachers’ Pension Plan, Nicole Mussico from the California Public Employees’ Retirement System, and Carnegie Corp’s Mark Baumgartner.