The Weinberg Foundation today detailed the planned transition within the role of chief investment officer. Current CIO Jonathan Hook will retire from the Weinberg Foundation effective August 31, 2022. He will be succeeded by David Gilmore, Deputy Chief Investment Officer. Mr. Gilmore will assume the role of chief investment officer effective September 1, 2022. The changes were announced in mid-November 2021.
Before joining the Foundation nearly nine years ago, Mr. Hook served as chief investment officer for two universities, Baylor University in Waco, Texas and The Ohio State University in Columbus, Ohio. For each organization, Mr. Hook was the first chief investment officer and established the investment office. Prior to moving to the institutional investment arena, Mr. Hook worked for 20 years in corporate and investment banking.
Since 2014, when Mr. Hook and Mr. Gilmore joined the Foundation, total assets have grown from $2.1 billion and now exceed $3.3 billion—a nearly 60 percent increase. As a result, the Foundation’s grantmaking has grown accordingly and substantially, and the Foundation expects to award approximately $140 million in grants in 2022. The Foundation has grown its investment in diverse managers to more than $500 million, and more than 30 percent of the Foundation’s investment fund managers are led by either women or people of color.
Mr. Gilmore has served as managing director of investments and, most recently, as deputy chief investment officer. Prior to joining the Foundation, Mr. Gilmore worked with Mr. Hook, helping to create The Ohio State University investment office. Mr. Gilmore also was a partner at Gerber Taylor Capital Advisors, an independent investment advisory firm.
The work of the Foundation’s investment team, based in both Baltimore and Hawaiʻi, is supported by four external investment advisors. The external advisers, together with Trustees Paula B. Pretlow and Nimrod Goor, comprise the Foundation’s Investment Advisory Committee. Mr. Goor chairs the Investment Advisory Committee. The external advisors are Jonathan Havice, Founder, DGV Solutions; Denise Olsen, Senior Managing Director, GEM Realty Capital; Reginald G. Sanders, Director of Investments, Kellogg Foundation; and Sonali Wilson, Alternatives Director, Wellington Management Company.
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