The EVP is the chief . The Office of University Investments implements policies established by the board of trustees and its Investment Committee. 2021 Reports. Note: On occasion, the Office of University Investments or the Office of Trusts, Estates, and Gift. 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. I also feel proud to be leaving a stronger and more professional investment office than the one I found when I arrived.". CU Foundation Funds 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 It is the responsibility of each operating unit to use, account for, and report such program income properly. 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 hb``` r@(JQ(*rwA Community Preservation Corporation . A recognized leader in the community development finance industry, Rafael E. Cestero brings more than 30 years of experience in tackling the most pressing housing challenges cities across the nation are facing. A university device must be authorized by a dean or vice president, and must be purchased and serviced under the, Cornell Universitys Board of Trustees delegates significant procurement authority for the acquisition of goods and services from external sources on the universitys behalf. "After three-and-a-half interesting and enjoyable years at Cornell and in Ithaca, my family and I have decided to return home to the United Kingdom," said Walsh. Asset Allocation October 7, 2022 Yale Endowment Gains 0.8%, Duke, Cornell Post Small Losses in 2022. 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. Currently, senior investment officers Cody Danks Burke and Roger Vincent are serving as interim co-CIOs. Puccino has served as assistant vice provost for financial planning and institutional reporting for the past decade, and has held numerous leadership positions in budget and finance over his 30-year career at Weill Cornell Medicine. Aditya Misra. 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. 3 0 obj All inquiries and materials will be held in confidence. He was then named CIO in May 2012. At the same time Im very focused on managing the risk and the downside protection of the portfolio through quantitative techniques.. 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. 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. 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. Leadership | Board of Trustees | Office of the President | Office of the Provost | Senior Administration. East Hill Office Building Individuals engaged in developing and maintaining university policies must follow the requirements outlined in this document for drafting, approving,. Edwards, who stepped down from the post March 31. A.J. Policy Number: 4.11. x\Yo~7G(JE v"E&n/#;693\Y(QM-,sjqY]WWZ]^J~_=VoO{|X||juL^'I *VfHH|]h{.oHR$7G$?0L8 The chief investment officer manages day-to-day operations of Cornells long-term investments and appoints investment managers, monitors the overall investment program and manages the office. This policy establishes these circumstances and the procedures for making such advances. Jq3oPgK2Gs7(WUg\ Edwards has served as senior investment officer since March 2008. It had become apparent that his style of conducting business is inconsistent with Cornell's policies and expectations. Miranda earned a doctorate in economics from the University of Chicago in 1986 and a Bachelor of Science in foreign service from Georgetown University in 1981. Zh4=4GdgasVvMosT+ti @@SGc09(FeDXK] (I+'C-toYpgO9",& s -- ? Its been an absolute blessing to work for Steve Cohen; hes been an outstanding leader and an incredible mentor to me.. 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. Miranda will report to trustee Donald Opatrny 74, chair of the Investment Committee, and Joanne DeStefano, Cornells executive vice president and chief financial officer. Executive Vice President and Chief Financial Officer | Cornell University Division of Financial Affairs About Us Business Tools Our Policies Contact forms CU policies training KFS Support e-SHOP Executive Vice President and Chief Financial Officer There is currently no content classified with this term. Cornell University Office of Investments About the Investment Office The Investment Office is responsible for implementing policies established by the University Board of Trustees and its Investment Committee. The effectiveness of this effort is dependent on the development of periodic review of comprehensive plans. Cornell University requires salary confirmation for individuals paid with sponsored funds, federal appropriations, or committed cost sharing. The EVP is the chief financial and administrative officer responsible for directing theservices in support of the academic mission. (Acting) Chief Technology Officer (Apr 2022 - Jul 2022) Headed multiple departments of Corporate Strategy, Product Development, Process Improvement, Innovation and Sustainability, and Business Research + Reshaped EXIM's bank strategy towards Thailand Development Bank, focusing on investment to drive trade, competitiveness, and sustainability Each operating unit is responsible for following university procedures to achieve accurate capital asset reporting and compliance with government requirements. Under Walsh's tenure, Cornell's endowment successfully avoided many of the liquidity problems that affected those of its peers last year. Cornell University provides telephone service for individuals undertaking mission-related activities. To accomplish his vision, he will work closely with colleagues in those offices, along with those from Human Resources; Information and Technology Services; and Capital Planning. In this section: Search Committee ( see below) James Walsh, chief investment officer in Cornell's Investment Office, has announced he will be leaving the university to return to England at the end of this academic year. %PDF-1.6 % He will also work closely with Joanne DeStefano, chief financial officer of Cornell University. 0 The Investment Office helps support the Universitys mission of being a top research university that provides accessibility to students. *Y1M/O[5hi%H S`nm_,FWs ?=&^Vjz*TNs`a'4 ],*s:S^,L+\cuSF{pr_SyaBsKMbe[x\RXX+dEx-aeI>nXW*TV 20-Apr-2016 10:05 AM EDT , by Cornell University. Get Cornell news delivered right to your inbox. 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 positive projections for the performance of Cornell's endowment and other investments, which are exceeding expectations, will not be affected. Prior to joining Cornell University in 2021, she worked at the School of Health Sciences and Human Performance at Ithaca College. hT[o0+~TuvB Im thrilled hes joining my senior leadership team and look forward to continuing to work closely with him as we realize our vision for Weill Cornell Medicines long-term growth and success., Im honored to serve Weill Cornell Medicine as its chief financial officer, Puccino said. 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. This policy is being revised and is unavailable at this time. He will also capitalize on the institutions $1.5 billion Were Changing Medicine campaign for long-term growth. It had become apparent that his style of conducting business is inconsistent with Cornell's policies and expectations. Edwards has spent eight years at the $6 billion endowment, first joining as a senior investment officer. % A key component to the institutions long-term growth centers on increasing its clinical footprint in New York. 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 does not discuss personnel matters and will have no further comment. 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 review process will begin immediately upon receipt of materials. We are fortunate to hire someone of Kens caliber. Cornell University funds may be used for ordinary, reasonable, and necessary business-related travel expenses incurred in furtherance of the university's missions. Miranda will manage Cornells $6 billion investment portfolio and lead the Office of University Investments, starting July 1. Office of University Investments. A national search firm will lead that effort, and Mary Opperman, vice president for human resources, will coordinate the search and the transition for the university. endobj Miranda succeeds A.J. rPgyL:tFP/Hh>.rWE"h?`EJp7f`q;:8$qxP3Sg\.VgDw`;P. A university device must be authorized by a dean or vice president, and must be purchased and serviced under the. 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 . Formerly, he was a senior adviser on George Washington Universitys Committee on Investments. Chief Investment Officer A.J. Weill Cornell Medicine is conducting a national search for the second administrative position: executive vice provost and chief operating officer. Newswise ITHACA, N.Y. - Kenneth Miranda, director of the International Monetary Fund's (IMF) investment office, has been . 317 Day HallCornell UniversityIthaca, NY 14853. 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 . . The review process will begin immediately upon receipt of materials. <> The Investment Office's well-established senior leadership team will manage the office in the interim until a new chief investment officer is named. 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. Policy Number: 3.24. 1300 York AvenueBox 314 These stewards of, Cornell University formally approves, issues, and maintains in a consistent format, official university policies in a central policy library. l[c.2HK@)'W@]!$xB8K@! The Investment Office is responsible for implementing policies establishedby the University Board of Trustees and its Investment Committee. A recent expansion of physician services across the city has yielded an almost 40 percent increase in clinical revenue in the past five years, Puccino said. 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. Executive Staff Assistant. Cornell University2023University PrivacyWeb Accessibility Assistance. She has over 20 years of administrative experience. The campaign, launched in June 2021, will enable Weill Cornell Medicine to invest in all three parts of its mission, which includes a precision health enterprise, updated biomedical research space and a new student residence. "After three-and-a-half interesting and enjoyable years at Cornell and in Ithaca, my family and I have decided to return home to the United Kingdom," said Walsh. 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 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. 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. 2022 Outsourced-Chief Investment Officer Survey EVP and CFO Joanne DeStefano is the Executive Vice President (EVP) and Chief Financial Officer (CFO) for Cornell University. This is an amazing trajectorywere firing on all cylindersand we want to keep up the momentum so that we dont plateau, he 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. Joanne DeStefano is the Executive Vice President (EVP) and Chief Financial Officer (CFO) for Cornell University. 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. December 2021 Quarterly Report. So far in fiscal year 2010, Cornell's endowment performance is up 10 percent, after losing more than a quarter of its value in fiscal year 2009, as was the case with many of the university's peers in the wake of the 2008 financial crisis. 395 Pine Tree Road, Suite 330 4 0 obj He will also work closely with Joanne DeStefano, chief financial officer of Cornell University. 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. 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 . Cornell University expects its units to maintain accurate and complete inventories of their space, through the procedures contained herein. 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. We have a great team, he said. <> For more information see our quarterly endowment reports. A recent . Accordingly . The Committee establishes. hbbd```b``SA$S:X$L`x& f`!dVSf7@fU#d$;>f`bd`b``$ > Chief Investment Officer. 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. 2iTm P8 The University Board of Trustees is responsible for strategic management of all investable funds, and implements policy through the Investment Committee of the Board. favorite_border. Cornell University, through its operating units, generates income as a result of sponsored projects or federal appropriations. 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.