Endowments and Foundations

New York Public Library taps Harvard executive as new CIO

Geetanjali Gupta was named chief investment officer of the New York Public Library, according to a library news release Tuesday.

Ms. Gupta, who starts work on Feb. 26, will be responsible for the library's $1.2 billion endowment, the news release said.

Ms. Gupta replaces Todd Corbin, who left in the spring "to pursue other professional opportunities," Ayofemi Kirby, a spokeswoman for the library, wrote in an email. "The library immediately began the search after Corbin's departure."Ms. Gupta has been with the Harvard Management Co., Boston, for more than 10 years, most recently serving as senior vice president of absolute returns and public market funds and responsible for more than $15 billion in assets, the news release said. HMC oversees Cambridge, Mass.-based Harvard University's $37.1 billion endowment. Harvard officials could not immediately be reached for information on a replacement.

"She is a proven and trusted investor, with demonstrated expertise of strong long-term portfolio performance," Tony Marx, the library's president and CEO, said in the news release.