Kristen A. Gilbertson was named CIO of the $3.9 billion University of Pennsylvania endowment. Ms. Gilbertson also will be responsible for overseeing investments of the Philadelphia-based university's $600 million pension fund. Ms. Gilbertson, who takes over on Aug. 15, is replacing Landis Zimmerman, who became CIO at the Howard Hughes Medical Institute in February. Ms. Gilbertson was a managing director of public equities at the Stanford Management Co., Menlo Park, Calif., with responsibility for the public equity and long/short portfolios of the $9.8 billion Stanford University endowment. Information on a replacement was not immediately available.