A.J. Edwards was named chief investment officer of Cornell University's $5.3 billion endowment, confirmed Claudia Wheatley, a spokeswoman for the Ithaca, N.Y., endowment.
Mr. Edwards had been interim chief investment officer since May 2011, replacing Michael Abbott.
“A.J.'s skillful management of our Office of University Investments and his close and effective work with the investment committee of the board of trustees during the past year have been key factors in the university's ability to maintain a strong recovery from the recent economic downturn,” David Skorton, the university's president, said in a news release.
Mr. Edwards is responsible for recommending an asset allocation to the university board of trustees' investment committee, as well as risk management and the manager selection process, the news release said.
Mr. Edwards joined Cornell as a senior investment officer in 2008. He became interim CIO after Mr. Abbott left the job after only six months. “It had become apparent that his (Mr. Abbott's) style of conducting business is inconsistent with Cornell's policies and expectations,” the university said at the time.
Mr. Abbott is currently a managing partner of Terroir Capital, which invests in wineries and boutique hotels, according to the firm's website.