Josh Kaplan was named senior director, hedged strategies, at Ascension Health, St. Louis.
He will manage the hedge fund allocation in the health-care system's $15 billion in pension and operating assets, he said in a telephone interview.
Ascension spokeswoman Trudy Hamilton did not return phone calls requesting additional information.
Mr. Kaplan was chief investment officer at Drexel University, Philadelphia, responsible for the university's $451 million endowment. His duties will partially be handled by Catherine Budd Ulozas, the university's associate vice president for finance and director of investments, according to a Drexel news release. She will work with Thomas J. Elzey, Drexel's senior vice president for finance, CFO and treasurer, to oversee the endowment.