Commonfund, the leading investment manager for not for profit investors, has named J.P. Morgan executive Catherine M. Keating as Chief Executive Officer (CEO), the Company announced.
Ms. Keating brings two decades of senior investment management experience at J.P. Morgan, most recently as Head of Investment Management Americas, as well as a longstanding commitment to not for profits, including as current Chair of the Villanova University Board of Trustees. Ms. Keating will succeed Verne Sedlacek, Commonfund CEO since 2002, who will remain with the company in an advisory capacity to ensure a smooth leadership transition. Ms. Keating is expected to start in February, 2015.
In her position as Head of Investment Management Americas, J.P. Morgan, Ms. Keating was responsible for overseeing one of the largest providers of investment management services with more than $700bn in client assets. In addition to her Investment Management responsibilities, Ms. Keating held several firm-wide positions, including Co-chair of the Fiduciary Risk Committee, Director of the JPMorgan Chase Foundation, and Executive Sponsor of the firm’s Women’s Interactive Network.
“On behalf of our entire Board, I am honored and extremely pleased to welcome Catherine as Commonfund CEO,” said Dr. Robert Litterman, Commonfund Board Chair. “We conducted an exhaustive search and interviewed many outstanding candidates. However, we all agreed that Catherine’s proven leadership in asset management, track record for building and leading teams and commitment to working with non for profit organizations, along with her open and direct management style, made her the ideal candidate for the position.”
“I am thrilled to join Commonfund, as I have long admired its mission and success over the past four decades. I look forward to joining the team, and working together to focus on the unique needs of endowment and foundation investors,” said Catherine Keating.
While at J.P Morgan, Ms. Keating also served as CEO, U.S. Private Bank, Global Head, Wealth Advisory and Fiduciary Services, and Region Head of the Mid-Atlantic Private Bank.
Prior to J.P. Morgan, Ms. Keating was a Partner at the law firm Morgan, Lewis & Bockius LLP. She earned a JD from University of Virginia School of Law, and a BA from Villanova University.
Ms. Keating’s nonprofit experience, in addition to Chair of the Villanova University Board of Trustees, includes the Boards of the Girl Scout Council of Greater New York, and the Inner-City Scholarship Fund.
Dr. Litterman added that “The Commonfund Board is grateful to Verne Sedlacek for his decade-long devotion to the firm. Verne joins us in welcoming Catherine to Commonfund.”