Tina Surh will resign as chief investment officer of New York University, effective Dec. 31, said university spokesman John Beckman.
Ms. Surh, who has been CIO since 2009, has been responsible for overseeing the school’s $3.5 billion endowment.
The university staff will conduct a search for a successor. Marty Kelly, director of investments, will take over the responsibilities in the interim starting on Jan. 1 until a successor is named.
At press time, Mr. Beckman did not know where Ms. Surh was going or when a successor is expected to be named.
For the five years ended Sept. 30, the endowment achieved an annualized return of 8.5%, vs. its long-term policy benchmark return of 7.1% for the same period. For the calendar year-to-date through September, the endowment returned 6.2%, outperforming its benchmark by 350 basis points.