University of Michigan hires managing director to co-head marketable securities portfolio

Wafa Wei joined University of Michigan's investment office as managing director of investments and co-head of the $6.8 billion marketable securities portfolio of the university's $11 billion long-term endowment.

In this new position, Ms. Wei shares oversight of the portfolio with Michael Haessler, director of investments, said Lauren Thorne, a spokeswoman, in an email.

Ms. Wei, a University of Michigan graduate who grew up in UM's base, Ann Arbor, was chief operating officer of Nipun Capital, an Asian equities manager. A call placed to the firm seeking Ms. Wei's replacement was not returned by press time.

Prior to Nipun Capital, Ms. Wei was managing director of the marketable securities portfolio at Stanford Management Co., which manages the $22.4 billion endowment of Stanford University, Palo Alto, Calif.