TIFF Investment Management has hired former Goldman Sachs Group partner Kane Brenan as president, ending a search to fill the position as part of its succession planning.
Brenan, who previously led Goldman’s global portfolio solutions group, will start his new role April 13, according to a statement Thursday from TIFF. The Radnor, Pennsylvania-based firm, which manages assets for nonprofit groups including endowments and foundations, had begun its search for a president in the fall.
“At almost the same time, Mr. Brenan announced his intention to leave Goldman Sachs to return to the Philadelphia area, where his family lives,” TIFF said in the statement. “The stars aligned,” the firm said, as it then spotted a “talented industry veteran” with a passion for nonprofit work to eventually replace its chief executive officer Dick Flannery.
Brenan had worked at Goldman Sachs for more than two decades, helping some of the bank’s largest pension and endowment clients in an outsourced-chief investment officer capacity, according to TIFF. In its search for a president, the firm relied on George Wilbanks, an executive recruiter specializing in asset management.
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“TIFF represents two remarkably motivating pursuits — non-profit work and investing,” Brenan said in the statement. “I am looking forward to getting started.”
The firm has clients across the U.S, including public benefit groups, private foundations, and educational institutions, according to its website. Flannery has worked at TIFF since 2003.