University of Chicago and Chicago-based Boeing Co. both announced new chief investment officers over the weekend.
Andrew T. Ward was named vice president and chief investment officer at the University of Chicago, effective Oct. 20.
Mr. Ward will oversee the investment management of the university's $10 billion endowment. He will replace Mark A. Schmid, who retired from the university on Sept. 1, a news release said Oct. 15.
Mr. Ward was previously vice president and CIO at Boeing Co., Chicago, where he oversaw its defined benefit plan and 401(k) plan, which have more than $100 billion in combined assets.
Elizabeth Tulach, Boeing's deputy CIO, is replacing Mr. Ward as CIO, Boeing spokesman Michael D. Friedman said in an email. Before arriving at Boeing, Ms. Tulach was a senior vice president at GE Capital and an assistant vice president and director of private equity at University of Chicago.
David Dohnalek, Boeing's senior vice president and treasurer, said in an internal memo shared by Mr. Friedman: "With deep investment, fund management and leadership experience both inside and outside Boeing, Liz is perfectly suited for this role and I'm confident she'll ensure our world-class Trust Investments team continues its legacy of success."
At University of Chicago, this is the second time Mr. Ward has succeeded Mr. Schmid as a CIO, having replaced him as Boeing's top investment official when Mr. Schmid left in 2009 to join the University of Chicago.
At Boeing, Mr. Ward had been managing director of investment strategy and asset allocation before his time as CIO.
In the University of Chicago news release, Mr. Ward, who graduated from the university with an MBA from the Booth School of Business in 1997, said "I am honored for the opportunity to return to the University of Chicago. I look forward to leading a world-class investment team at one of the world's leading research universities."
University spokeswoman Colleen Mastony could not be immediately reached for further information.
