University of Illinois taps former Hurricane to be foundation CIO

Ellen J. Ellison was named chief investment officer of the University of Illinois Foundation, Urbana, effective Jan. 15, confirmed spokesman Don Kojich.

Ms. Ellison replaces Laura Vossman, who left the foundation about a year ago to create Vigilant Investment Solutions, a money management firm in California.

Ms. Ellison was executive director of investments at the University of Miami, Coral Gables, Fla., where she oversaw endowment and pension funds totaling $1.5 billion. Spokeswoman Margot Winick did not immediately have information on her replacement.

Doug Beckmann, a retired associate vice president with the university, had been interim CIO. Executive search firm Korn/Ferry International assisted.

Ms. Ellison will likely look to expand the foundation's internal investment team, Mr. Kojich said. The combined active endowment for the university and the foundation is more than $1.6 billion.