Wake Forest University, Winston-Salem, N.C., is searching for a CIO for its $1.2 billion endowment fund to succeed Louis R. Morrell, the university's vice president for investment and treasurer, Mr. Morrell said today in an interview. University officials are conducting the search and hope to have a successor in place by July 1. Mr. Morrell, who said the work has expanded to justify hiring a separate CIO for the endowment, will remain the university's treasurer, managing about $300 million in assets.