University of Florida Foundation Inc., Gainesville, is searching for a chief financial officer for its $900 million fund. Qualifications include investment, management and accounting experience. The board is considering giving the CFO greater responsibility over day-to-day oversight of the fund's investments, said Peter H. Landauer, associate controller, who oversees investments now and reported to the previous CFO.
"Investments are our largest asset," Mr. Landauer said. "If we were able to attract someone with an investment background, that person could become more involved," he said.
"We have a thin investment staff," he said, consisting of an investment coordinator involved in back-office operations and himself. "We could use more help," especially considering the size of the fund, which is all externally managed, he added.
Anyone interested in the CFO position can apply to Susan G. Goffman, search chair, at the foundation.
Kenneth E. Hillier, who was CFO, was arrested in September at the foundation. He pleaded not guilty in his recent arraignment on a charge of grand theft from the foundation, said Gilbert Schaffnit, partner with the Gainesville law firm of Schaffnit and Fletcher, which is representing him. Mr. Schaffnit declined to discuss the amount or the context of the alleged theft, although Mr. Hillier is alleged to have taken $700,000.
Foundation officials declined to release information on Mr. Hillier. Mr. Landauer said Mr. Hillier didn't have an investment background and focused on budget and control issues, although he did oversee the investment staff. The investment committee of the board recommends investment decisions.
No interim CFO has been named.