New York University, one of the largest private colleges in the U.S., named Kathleen Jacobs as chief investment officer overseeing its $3.4 billion endowment.
Jacobs is currently managing director in the investment office at New York-Presbyterian Hospital and will replace Tina Surh, who stepped down in December, the university said in a statement on Thursday. Jacobs formerly worked at the Juilliard School’s investment office, Goldman Sachs Group Inc. and JPMorgan Chase & Co.
NYU has more than 58,000 students, and its endowment ranks 28th in size among the 100 richest colleges, according to data compiled by Bloomberg.
The university’s endowment has trailed rivals in performance. Over the last 10 years it had an annual average return of 7.6 percent. Columbia University tied with Yale University with an 11 percent yearly gain over that period, according to Bloomberg’s new endowment ranking.