Mark Baumgartner Joins Carnegie Corporation of New York as Chief Investment Officer

Wednesday, December 2, 2020

Mark Baumgartner Joins Carnegie Corporation of New York as Chief Investment Officer

Carnegie Corporation of New York has named Mark Baumgartner as its new chief investment officer following an extensive nationwide search conducted by members of the foundation’s investment committee and several investment advisors. Baumgartner will oversee the Corporation’s $3.4 billion endowment and an in-house investment team.

Baumgartner comes to the Corporation from the Institute for Advanced Study in Princeton, New Jersey, where he has been the CIO for nearly seven years, building on a significant career in investment management. He starts at the Corporation on December 2, 2020.

“We began the CIO search in September and were gratified to hear from more than 200 exceptional applicants,” said Martin Leibowitz, chair of the CIO search committee, past chair of the board of trustee’s investment committee, senior advisor to Morgan Stanley, and president of Advanced Portfolio Studies LLC. “Mark Baumgartner stood out from the start as the best fit due to his stellar performance investing in both up and down cycles as well as his leadership on the boards of several high-level mission-driven nonprofits. We are delighted to welcome Mark to the Corporation.”

“Mark Baumgartner is the only candidate to receive the unanimous approval of the selection committee, which is an outstanding show of support for his capabilities,” said Anne Tatlock, chair of the investment committee and former chairman and CEO of Fiduciary Trust Company International. “Due to the weak economy and unstable financial markets, it is critically important to have a CIO with Mark’s depth of experience. I look forward to working closely with him as we fortify the strength of our endowment and investment team.”

In 2014, Baumgartner joined the prestigious Institute for Advanced Study (IAS), a research institution, as the CIO responsible for an endowment of nearly $1 billion. During his tenure, Baumgartner outperformed benchmarks through a focus on strong investment returns and a highly analytical approach to research, assessment, and allocation. In 2019, Baumgartner’s accomplishments were recognized by his investment peers when CIO magazine named the IAS fund as its Endowment of the Year and ranked Baumgartner #8 on its list of top 20 endowment and foundation CIOs. Prior to IAS, he was an investment director with the Ford Foundation for more than four years, helping to restructure the endowment and rebuild the department following a management transition...

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