Katharine Krieger Appointed CIO of J. Paul Getty Trust

Katharine Krieger

The J. Paul Getty Trust announced that it has hired Katharine Krieger to fill its vacant CIO position. Krieger has been the CIO of the Eli and Edythe Broad Foundation and family office since 2017.

As CIO, Krieger will oversee the $8.6 billion endowment’s investments across all activities of the Getty’s operations. Krieger will succeed James Williams, who announced his retirement last fall and had been CIO of the Getty since 2002. Krieger’s appointment is effective April 15.

The J. Paul Getty Trust supports the operations of the Getty Museums and awards grants in support of “research and preservation of the visual arts” across art history, conservation, museum and archival collections, and professional development, according to the Getty website. The trust has awarded $530 million in 9,500 grants since 1984.

“While it is difficult to say goodbye to my friends and colleagues at Broad, it is an honor and privilege to join Getty and help advance its global mission of supporting visual art and cultural heritage,” Krieger said in a press release. “I am committed to building upon the investment office’s strong foundation to secure and strengthen Getty’s financial well-being and ensure its continued impact on the world.”

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Before the new role at Getty, she worked at Broad Foundation and family office, which includes the Broad Art Foundation, for 21 years, where she was appointed CIO in 2017.

Previously, Krieger was a consulting associate at Cambridge Associates. She earned a B.A. in economics from Colby College and is a CFA charter holder.

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Tags: Foundations, J. Paul Getty Trust, Katharine Krieger

Jon-Michael Consalvo

The Carnegie Corp. of New York this week announced it will promote Jon-Michael Consalvo to CIO.

Consalvo is currently a managing director in the investment office and has been at the philanthropic fund since 2009. He will succeed Mark Baumgartner, who stepped down in September 2023 to become CIO of the Dalio Family Office. Consalvo’s appointment is effective March 1.

Having joined Carnegie Corp. as an analyst in 2009, Consalvo rose to managing director in 2020. According to the announcement, Consalvo was instrumental in doubling the foundation’s assets to $4.2 billion.

Consalvo was named a CIO NextGen in 2022, when Baumgartner noted his contributions to Carnegie Corp.

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“JM is a true culture carrier for Carnegie, having been with the foundation for over a decade now,” Baumgartner said in 2022. “He joined Carnegie from business school in 2009 and rose through the ranks, taking on more and more responsibility on the investment team, most recently as a managing director overseeing the Corporation’s private markets partnerships in 2020. His thoughtful, composed and reserved personality veils a terrific sense of humor which endears him to the broader team and to program staff at the Corporation.”

Consalvo earned a bachelor of science degree in finance and economics from the NYU Stern School of Business and an MBA from the Wharton School at the University of Pennsylvania. He is also a CFA charter holder.

“I am humbled to follow in the footsteps of many great investors who have built a sterling reputation for our investments office,” Consalvo said in a statement. “It is an honor to support the foundation’s dedicated grantmaking team under the leadership of Dame Louise Richardson, and I am truly thankful for the support of my colleagues, the board of trustees, and the guidance of our Investment Committee. I look forward to generating great results for the organization and building on its investment strategy to further the foundation’s vital work.”