Uncategorized | 10:52 am | May 3, 2011 | By Alison Griswold

Cornell’s chief investment officer steps down

Cornell’s chief investment officer has departed abruptly after just six months on the job, the Cornell Sun reported.

Michael Abbott, who assumed his post in November 2010, stepped down on Sunday according to Cornell’s Vice President for University Communications Tommy Bruce. No reasons have yet been given for Abbott’s departure, Bruce told the Cornell Sun that the university would not comment on the matter, and more than a dozen staff at the Cornell Office of University Investments could not be reached by the Sun or declined comment Sunday.

As chief investment officer, Abbott headed the Office of University Investments, which manages Cornell’s $5.2 billion endowment. Yale’s chief investment officer is David Swensen GRD ’80, and its endowment is valued at $16.7 billion.

Correction: May 4, 2011

An earlier version of this article stated that the name of Cornell’s former chief investment officer was Michael Schmidt. This is incorrect, as his name is in fact Michael Abbott.

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