Kane Brenan was named president of TIFF Investment Management, a Radnor, Pa.-based not-for-profit organization managing $6.7 billion for foundations, endowments and other charitable institutions.
Mr. Brenan became president on Monday as part of the firm's succession planning, since TIFF CEO Dick Flannery plans to retire in the coming months, the spokeswoman said in an April 10 email.
Mr. Brenan will report to Mr. Flannery and the board of directors as president, a new position at TIFF. He will shadow the chief executive officer "for a number of months and eventually assume the position of CEO upon Dick's retirement," the spokeswoman said.
Mr. Flannery's retirement is expected to occur before the end of the year, depending on the impact of the coronavirus pandemic, the spokeswoman added.
Mr. Brenan was previously a partner, global head and co-chief investment officer of the global portfolio solutions group at Goldman Sachs Asset Management, New York.
He was at Goldman Sachs for more than 20 years and worked with some of Goldman's largest pension and endowment clients in an outsourced chief investment officer capacity, a news release from TIFF said.
Mr. Brenan retired in December, a spokesman at GSAM said in an email, noting that Greg Calnon is now global head of global portfolio solutions.