Catherine Keating, a leading investment manager at banking giant JPMorgan Chase & Co., was named Monday as the new chief executive officer of Commonfund, the financial house that oversees $25-billion in assets for endowments and foundations, Bloomberg reports. She will take office at Commonfund in February, replacing outgoing CEO Verne Sedlacek.
Ms. Keating heads JPMorgan's Americas investment unit, which manages some $700-billion in assets, and previously led the company's U.S. Private Bank. She is chair of the board of trustees at Villanova University in Philadelphia, her alma mater. Mr. Sedlacek, who will stay on as a Commonfund adviser through the transition, called her "a great choice," adding, "Catherine brings lots of investment experience and nonprofit experience."