David Gilmoredeputy chief investment officer of the Harry and Jeanette Weinberg Inc. Foundation, Owings Mills, Md., will assume the role of chief investment officer effective Sept. 1, a news release said Monday.
Mr Gilmore will replace the current CIO Jonathan Crochetwho retires August 31. The changes were originally announced in mid-November, but specific transition dates were not disclosed at that time.
Mr. Gilmore and Mr. Hook joined the foundation in 2014, and the foundation’s assets grew from $2.1 billion to $3.3 billion during that time, according to the press release.
Since joining the foundation, Mr. Gilmore has served as Chief Investment Officer and Deputy CIO. Previously, Mr. Gilmore worked with Mr. Hook in building the investment office at Ohio State University and was also a partner at Gerber Taylor Capital Advisors, an independent investment advisory firm.
Prior to joining the foundation, Mr. Hook served as CIO for two universities: Baylor University and Ohio State.
“The Weinberg Foundation warmly congratulates Jonathan Hook for his distinguished tenure, including the development and growth of the investment team, as well as his integration into the foundation’s overall operations,” said Fay Hartog-Levin, president of the foundation, in the press release. “We also celebrate David Gilmore’s smooth transition to the role of CIO, reflecting the foundation’s commitment to continuity and planning, as well as internal advancement.”
The foundation does not plan to fill the role of deputy CIO; instead, the investment team’s transition plan includes adding two new positions before Mr. Hook retires, Mr. Gilmore said in a statement. The foundation has already made one such hire with the addition of an investment operations analyst, and the second position will focus on research, analysis and day-to-day portfolio management, Gilmore added. . The search for the latter position will begin in the coming months, he said.
“The Weinberg Foundation is confident that this expansion of the investment team will set the foundation for continued asset growth, as well as corresponding increases in grantmaking serving people experiencing poverty,” said Mr. Gilmore.