Thomas Conroy stepped down from his position as CIO of the Children's Hospital of Philadelphia, which has $1.5 billion in total assets. Details were not immediately available on Mr. Conroy's replacement and John Ascenzi, spokesman, could not provide comment by press time. Mr. Conroy was named senior managing consultant at PFM Advisors, where he will focus on consulting to hospitals, endowments and foundations, said John Spagnola, PFM managing director. The position is new, said Mr. Spagnola, adding that PFM hired a dedicated consultant to service its growing base of non-profit clients. Mr. Conroy will also coordinate PFM's internal research efforts and head the firm's alternative investment research.