Scott Puccino Appointed Chief Financial Officer of Weill Cornell He will also work closely with Joanne DeStefano, chief financial officer of Cornell University. Prior to Cornell, Walsh spent 11 years at Hermes Investment Management in London, where he became head of strategy and alternatives, after being the firm's chief economist. In the year and a half since Kenneth Miranda stepped up to lead Cornell's investment office as chief investment officer, the team has reported strong endowment returns, implemented new investment strategies for 2017, and completed phase one of a move to New York City. CORNELL UNIVERSITY POLICY LIBRARY POLICY 4.6 Volume: 4, Governance/Legal Chapter: 6, Standards of Ethical Conduct Responsible Executive: President Responsible Offices: Provosts/Executive Vice President and Chief Financial Officer Originally Issued: October 1996 Last Updated: February 8, 2021 Standards of Ethical Conduct POLICY STATEMENT Vice President for University Communications Tommy Bruce issued the following statement May 2: Michael Abbott stepped down from his position as chief investment officer at Cornell University May 1. Senior Investment Officer: Sean Graham Senior Investment Officer, Operations (Head of Operations) Mihir Meswani Senior Investment Officer: Anthony Thai, CFA Senior Investment Officer: Roger B. Vincent Jr. Senior Investment Officer: Sean Olesen, CFA, CAIA Investment Officer: Andrew Park, CFA, FRM Investment Officer We have a great team, he said. At such times, the university has a prescribed method for evaluation and communication of these changes to university staff, faculty, and students. The University Board of Trustees is responsible for strategic management of all investable funds, and implements policy through the Investment Committee of the Board. Puccino was also instrumental in conceptualizing and implementing the institutions expanded scholarship program that provides debt-free education to medical students in financial need. 2 0 obj Search for Executive Vice President and Chief Financial Officer Cornell University invites applications and nominations for the position of Executive Vice President (EVP) and Chief Financial Officer (CFO). 2iTm P8 2022 Outsourced-Chief Investment Officer Survey Units of the university that have activities that generate unrelated business income will be charged all applicable income taxes. He is the third CIO to resign in the last six years. Miranda will manage Cornells $6 billion investment portfolio and lead the Office of University Investments, starting July 1. March 2021 Quarterly Report. At the same time Im very focused on managing the risk and the downside protection of the portfolio through quantitative techniques.. A national search firm will lead that effort, and Mary Opperman, vice president for human resources, will coordinate the search and the transition for the university. Joanne DeStefano is the Executive Vice President (EVP) and Chief Financial Officer (CFO) for Cornell University. Report this profile Report Report. Under Walsh's tenure, Cornell's endowment successfully avoided many of the liquidity problems that affected those of its peers last year. <> It had become apparent that his style of conducting business is inconsistent with Cornell's policies and expectations. This policy establishes these circumstances and the procedures for making such advances. Cornell University Archives | Chief Investment Officer <>/Metadata 1599 0 R/ViewerPreferences 1600 0 R>> Further, the university expects all members of the university community who are accountable for financial, Cornell University uses its property and facilities, primarily, to further its mission of learning, discovery, and engagement. The president is the chief executive and educational officer of the university and is charged with responsibility for providing general supervision over all affairs of the university. Currently, senior investment officers Cody Danks Burke and Roger Vincent are serving as interim co-CIOs. Executive Vice President and Chief Financial Officer | University Policy Choi, the Stephen and Suzanne Weiss Dean of Weill Cornell Medicine. x\Yo~7G(JE v"E&n/#;693\Y(QM-,sjqY]WWZ]^J~_=VoO{|X||juL^'I *VfHH|]h{.oHR$7G$?0L8 The effectiveness of this effort is dependent on the development of periodic review of comprehensive plans. KP}Gz%Xxk+0 #IR}67|JLA]zetUmJ3ZOHM' OZx /)B66J&_}M$c()1Qw[f4^+XBYm}*PIRD z.Ajx4.r7U'TJBUW|@,,8 ?IT$.d[eS5))b`AD`@[I$Lpk9h <> Given his experience in global investing, Miranda said he expects to globalize the return streams of the endowment. Cornell University Investment Office - LinkedIn Individuals engaged in developing and maintaining university policies must follow the requirements outlined in this document for drafting, approving,. Cornell University 's chief investment officer was paid almost $1.9 million in 2018 as he spearheaded efforts to turn around the underperforming endowment. Miranda will report to trustee Donald Opatrny 74, chair of the Investment Committee, and Joanne DeStefano, Cornells executive vice president and chief financial officer. Im thrilled hes joining my senior leadership team and look forward to continuing to work closely with him as we realize our vision for Weill Cornell Medicines long-term growth and success., Im honored to serve Weill Cornell Medicine as its chief financial officer, Puccino said. Weill Cornell Medicine is conducting a national search for the second administrative position: executive vice provost and chief operating officer. A recognized leader in the community development finance industry, Rafael E. Cestero brings more than 30 years of experience in tackling the most pressing housing challenges cities across the nation are facing. He will succeed these financial responsibilities from Stephen M. Cohen, executive vice provost for administration and finance, who will retire in September and whose role is being divided into two. . He currently serves as a member of the Food and Agriculture Organizations advisory committee on investments. The review process will begin immediately upon receipt of materials. James Walsh, chief investment officer in Cornell's Investment Office, has announced he will be leaving the university to return to England at the end of this academic year. A university device must be authorized by a dean or vice president, and must be purchased and serviced under the. Senior Leadership | Leadership | Cornell University Rafael Cestero, BS PAM '90 . Edwards has served as senior investment officer since March 2008. As the most senior non-academic officer for the university, the EVP is the chief financial and administrative officer responsible for directing the financial and administrative services in support of the academic mission. Note: On occasion, the Office of University Investments or the Office of Trusts, Estates, and Gift. As the most senior non-academic officer for the university, the EVP and CFO is the chief financial and administrative officer responsible for directing the financial and administrative services in support of the academic mission. endobj He has a clear understanding of todays complex and rapidly changing investment environment, said Opatrny. Senior Leadership | Leadership | Cornell University Contact | Office of University Investments Executive Vice President and Chief Financial Officer | Cornell University Division of Financial Affairs About Us Business Tools Our Policies Contact forms CU policies training KFS Support e-SHOP Executive Vice President and Chief Financial Officer There is currently no content classified with this term. Cornell's colleges and schools encompass more than 100 fields of study, with locations in Ithaca, New York, New York City and Doha, Qatar. PDF Position Specification - president.cornell.edu %PDF-1.6 % Phone: (646) 962-9476, Pregnant Patients with Anxiety Have Altered Immune Systems, Differences in Animal Biology Can Affect Cancer Drug Development. Asset Allocation October 7, 2022 Yale Endowment Gains 0.8%, Duke, Cornell Post Small Losses in 2022. Cornell University hiring Executive Vice President and Chief Financial We are immensely proud to have Ken leading our investment team. Miranda succeeds A.J. He will also capitalize on the institutions $1.5 billion Were Changing Medicine campaign for long-term growth. This policy replaces University Policy 3.3, Travel Expenses for Concur Users and travel portions of University Policy 3.2.1,. PDF Standards of Ethical Conduct and Chief Financial Officer Policy Number: 3.24. Vice President for University Communications Tommy Bruce issued the following statement May 2: Michael Abbott stepped down from his position as chief investment officer at Cornell University May 1. Cornell University may change its operating status during and surrounding periods of inclement weather. Current-Year Long-Term Investment Pool Rates; Prior-Year Long-Term Investment Pool Rates; Investing in the Long-Term Investment Pool; Investment Glossary; Year-End. September 2021 Quarterly Report. endstream endobj startxref His high-level expertise in long-term investments means he is poised to meet Cornells unique needs, goals and risk tolerance. Director of the IMFs investment office since 2000, Miranda also has been a member of the Cornell University Board of Trustees Investment Committee since February 2012. Executive Vice President and Chief Financial Officer | Cornell University Division of Financial Affairs Home Business Tools forms CU policies training KFS Support e-SHOP Executive Vice President and Chief Financial Officer There is currently no content classified with this term. Chief Executive Officer . Young Cho, CFA - Chief Financial Officer - Swirlds Labs - LinkedIn This includes understanding workload and cost implications of the cost-sharing commitment; determining when cost sharing is necessary and appropriate; and accurately recording and reporting. She has over 20 years of administrative experience. Funds must be invested for a minimum of five years. Get Cornell news delivered right to your inbox. Chief Investment Officer Abruptly Steps Down - The Cornell Daily Sun Back Submit. Formerly, he was a senior adviser on George Washington Universitys Committee on Investments. Efforts are underway to identify opportunities for future clinical growth, which will have important implications for the institution as a whole: Clinical revenue is the economic engine of Weill Cornell Medicine and provides the financial oxygen for its esteemed research and education programs, he said. YLP`-V`af;R$6(5(- Leadership | Board of Trustees | Office of the President | Office of the Provost | Senior Administration. The president is elected by the Board of Trustees and, once elected, sits as an ex officio member of the board and of all its standing committees except the Audit Committee. Nationally, she is a member of the National Association of College and University Business Officers (NACUBO), and has held board of director positions with the Kuali Foundation and the Council on Governmental Relations (COGR). Edwards, who stepped down from the post March 31. hT[o0+~TuvB Puccino has served as assistant vice provost for financial planning and institutional reporting for the past decade, and has held numerous leadership positions in budget and finance over his 30-year career at Weill Cornell Medicine. . endobj December 2021 Quarterly Report. Cornell University provides telephone service for individuals undertaking mission-related activities. Community Preservation Corporation . A key component to the institution's long-term growth centers on increasing its clinical footprint in New York. 0 In this section: Search Committee ( see below) The EVP is the chief . EVP and CFO Joanne DeStefano is the Executive Vice President (EVP) and Chief Financial Officer (CFO) for Cornell University. "I look forward to my continued work with them as we prepare Weill Cornell Medicine for what comes next," he added. stream I also feel proud to be leaving a stronger and more professional investment office than the one I found when I arrived.". Executive Staff Assistant. 20-Apr-2016 10:05 AM EDT , by Cornell University. Locally, Ms. DeStefano serves as a member on the Cayuga Medical Center (CMC) board of directors and executive committees and previously served as the chair of CMCs patient and quality safety committee and as the chair for the Cornell 2008 United Way campaign. Miranda earned a doctorate in economics from the University of Chicago in 1986 and a Bachelor of Science in foreign service from Georgetown University in 1981. His prior roles include serving as president of the Bank-Fund Staff Federal Credit Union, one of the 50 largest credit unions in the country by assets, where he also had several other leadership positions. James Walsh, chief investment officer in Cornell's Investment Office, has announced he will be leaving the university to return to England at the end of this academic year. Policy Number: 4.11. The Investment Office helps support the Universitys mission of being a top research university that provides accessibility to students. Ithaca, NY 14850, Cornell University requires all operating units to develop their own unit-specific financial internal control plans using guidelines provided by the Office of the University Controller. 474 0 obj <> endobj As IMF director, Miranda coordinated a focused team that oversaw the investment of approximately $11.5 billion in assets for the IMFs Staff Retirement Plan and Retired Staff Benefits Investment Account. East Hill Office Building So far in fiscal year 2010, Cornell's endowment performance is up 10 percent, after losing more than a quarter of its value in fiscal year 2009, as was the case with many of the university's peers in the wake of the 2008 financial crisis. Get Cornell news delivered right to your inbox. In managing these funds, he made investments across a broad array of asset classes, themes, strategies and managers. If you have a disability and are having trouble accessing information on this website or need materials in an alternate format, contactweb-accessibility@cornell.edufor assistance. The EVP is the chief financial and administrative officer responsible for directing the services in support of the academic mission. Accordingly, he and the university have agreed that it is in their mutual interests to end the relationship. <>/ExtGState<>/XObject<>/ProcSet[/PDF/Text/ImageB/ImageC/ImageI] >>/Annots[ 29 0 R] /MediaBox[ 0 0 612 792] /Contents 4 0 R/Group<>/Tabs/S/StructParents 0>> He will also work closely with Joanne DeStefano, chief financial officer of Cornell University. Edwards has spent eight years at the $6 billion endowment, first joining as a senior investment officer. Ms. DeStefano began her tenure with the university in 1990 as the general accounting manager for the contract colleges, having held several positions with progressive responsibility within the finance division, most recently vice president for finance and CFO. Aditya Misra. Search for Executive Vice President and Chief Financial Officer, Chief of Staff and Special Counsel to the President; Chair, Search Advisory Committee, Charles Field Knight Dean of the Cornell SC Johnson College of Business, Vice President and Chief Human Resources Officer, Senior Associate Dean for Clinical Affairs, Weill Cornell Medicine, Chief Administrative Officer, Cornell Tech. As the most senior non-academic officer for the university, the EVP is the chief financial and administrative officer responsible for directing the financial and administrative services in support of the academic mission. 505 0 obj <>stream Chief Information Officer - Weill | Cornell University Division of The minimum threshold amount will be reviewed every five years; the next review is in FY 2023 (unless guidelines change). I wish him all the best in his future endeavors.". Kelly E. Cunningham Chief of Staff and Special Counsel to the President Joanne M. DeStefano Executive Vice President and Chief Financial Officer Ryan T. Lombardi Vice President for Student and Campus Life Christine D. Lovely Vice President and Chief Human Resources Officer Joel M. Malina Vice President for University Relations Kenneth M. Miranda Ms. DeStefano is a 1978 graduate of Syracuse University with a bachelor of science in accounting, and a 1997 recipient of a master of business administration in finance from the Curtis Johnson Graduate School of Management at Cornell University. He will seek to increase Weill Cornell Medicines clinical footprint throughout New York City, invest in the institutions biomedical research activities with the goal of increasing sponsored research opportunities, and oversee the financial planning for a new student residence. Cornell University expects costs to be charged to the appropriate sponsored project account when first incurred. In the unlikely event that a unit must ask the university to establish and maintain a separate account, the university requires the unit to institute, The university will accommodate those full- and part-time employees with valid business needs for mobile communication devices by issuing university-owned mobile communication devices. These stewards of, Cornell University formally approves, issues, and maintains in a consistent format, official university policies in a central policy library.