Sid Browne resigned as chief investment officer of the $1.2 billion consolidated investment pool of Yeshiva University, New York, according to a source with knowledge of the situation who asked not to be identified.
The university will launch a search for a new CIO, the source said.
J. Michael Gower, Yeshiva’s CFO and vice president for business affairs, declined to comment on the Dec. 24 resignation. Mayer Fertig, a university spokesman, wrote in an e-mailed response to questions “this falls under the category of a personnel matter and as matter of policy, we really cannot comment on those at all.”
Mr. Browne left the university to take another job in the investment management industry, the source said. Mr. Browne did not return phone calls seeking information about his plans.
Mr. Browne was Yeshiva’s first CIO, joining the university in August 2009. Mr. Browne was appointed after Yeshiva University lost about $110 million tied to the Bernard Madoff scandal, mostly through hedge funds controlled by money manager J. Ezra Merkin, a former Yeshiva trustee and former chairman of the university’s investment committee. Mr. Browne had been CIO at hedge fund manager Brevan Howard U.S. Asset Management.