Mark Warner was named interim CEO and chief investment officer of University of Texas Investment Management Co., Austin, effective immediately, by the firm's board of trustees during a meeting Thursday.
Mr. Warner began his UTIMCO career in 2007, and most recently he was senior managing director with responsibility for investment portfolios including emerging markets equity and private equity, a UTIMCO statement said.
Mr. Warner will keep his existing portfolio management and administrative duties, spokeswoman Jenny LaCoste-Caputo said in an e-mail.
Mr. Warner replaces Bruce Zimmerman, who resigned Monday after nine years at UTIMCO, during which he had oversight of the management of about $37 billion for the University of Texas and Texas A&M University systems. About $25 billion of the assets UTIMCO manages are from long-term endowment pools.
UTIMCO trustees also set up a search advisory committee and authorized the hire of an executive recruitment firm to conduct the search for Mr. Zimmerman's replacement, according to the statement.
“We have the utmost confidence in Mark Warner and his ability to provide leadership and make progress while we conduct a national search for UTIMCO's next CEO/CIO,” said Jeffery Hildebrand, chairman of the UTIMCO board and vice chairman of the UT System Board of Regents, in the statement.
