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Peter Ammon named new CIO of University of Pennsylvania, to manage over $7B in funds

Peter H. Ammon, currently working as the director of Yale University investment office, has been appointed as the chief investment officer of the University of Pennsylvania. He will take up the new position from July 1 and in his new role, will oversee the management of the university's endowment and pension plan – valued at $6.8 billion and $1 billion, respectively, as of June 2012. Ammon will succeed Kristin Gilbertson, who stepped down as CIO last October. David Harkins, the endowment’s managing director of public markets, will continue as interim CIO until he joins the company.

Ammon joined Yale back in 2005 and prior to that, he worked with the Princeton University Investment Company. He graduated from Princeton and holds an MBA and a master’s degree in International Relations from Yale. He is also a CFA Charterholder.

At Pennsylvania, Ammon will partner with the investment board, senior leadership and the staff of the office of investments to help the university generate resources to support its mission.

“He is the right person to lead Penn’s talented investment team and to maximise long-term returns, manage risk and generate the resources that help support our highest priorities, including our commitment to an all-grant, no-loan financial aid programme for undergraduates and our innovative interdisciplinary teaching and research initiatives,” said Amy Gutmann, president of Pennsylvania University.

(Edited by Sanghamitra Mandal)

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