Lou Fernandes was named chief investment officer of The Museum of Modern Art in New York.
Mr. Fernandes will "oversee the museum's investment office and work closely with the investment committee of the board of trustees to strategically manage the diversified investment portfolio for MOMA's endowment, pension and retirement plan," said a news release Tuesday.
Mr. Fernandes "brings more than two decades of finance and investment experience to MOMA, including expertise in building teams, constructing and managing investment portfolios, and partnering with managers across asset classes," said James Gara, MOMA's chief operating officer, in the news release.
Officials at MOMA could not be immediately reached about Mr. Fernandes' predecessor.
According to its latest annual report, MOMA had total assets of about $1.5 billion as of June 30.
Mr. Fernandes was formerly at New York University, where he served as managing director of investments for its $5.3 billion endowment. An NYU spokesman said in an email that Mr. Fernandes’ last day was Dec. 21. “While at NYU, he was responsible for equity long-short, absolute return, and tangible assets strategies. He was highly esteemed and was a valuable team member at NYU,” the spokesman said.
“We are close to making a formal announcement about his successor,” he added.
