Mark Baumgartner was named chief investment officer of Carnegie Corp. of New York, effective Wednesday, confirmed spokeswoman Celeste Ford in an email.
Mr. Baumgartner is responsible for overseeing the corporation's $3.4 billion endowment and an in-house investment team.
He replaced Kim Lew, who on Nov. 2 became president and CEO of Columbia Investment Management Co., which manages the $11 billion endowment of Columbia University, New York.
Mr. Baumgartner was CIO of the Princeton, N.J.-based Institute for Advanced Study's $800 million endowment. He was replaced by Jeffrey L. Gatto, the institute's investment director, confirmed IAS spokesman Lee Sandberg in an email.