Tina Surh was named chief investment officer of the $2.5 billion New York University endowment.
Ms. Surh, who was acting CIO, has overseen the fund since her predecessor, Maurice Maertens, retired last year, the Manhattan school said Tuesday in an e-mailed statement. Ms. Surh, who joined NYU in 2005 as director of investments, was promoted to deputy CIO in 2008.
NYU said in November that its fund investments fell 11% in the year ended Aug. 31, compared with an 18% drop for the S&P 500 index, including dividends, for the same period. The university added to its bond investments and reduced stock holdings.
NYU claimed in a December 2008 lawsuit in New York State Supreme Court in Manhattan that it lost more than $24 million after money manager J. Ezra Merkin and his funds invested with fraud operator Bernard Madoff. The university’s lawyers have the right to legal fees for the suit, a New York State judge ruled in March.