Marc A. Schwartz was named chief investment officer of the $3 billion Broad Foundations, effective Aug. 9, confirmed spokeswoman Karen Denne.
He succeeds Peter Adamson, who left April 1 to become CIO for the personal and foundation assets of talk-show host Oprah Winfrey.
Mr. Schwartz will work directly with Eli Broad, the foundations’ founder, and will help manage the portfolios of the foundations as well as the Broad family.
Mr. Schwartz was managing director, principal and vice president of Reservoir Capital Group. A Reservoir spokesman could not be reached for comment.
