The Alfred P. Sloan Foundation has named Elizabeth Hewitt, current managing director of public investments for the Robert Wood Johnson Foundation as its CIO.
Hewitt will replace outgoing CIO William Petersen, who retired earlier this year. Selected after a six-month search, she is set to begin her new position on or about November 2, the foundations aid.
As CIO, Hewitt will be responsible for managing the New York-based foundation’s $1.9 billion endowment and leading the investment staff.
“Elizabeth Hewitt is a first-class investor with extensive experience managing diversified asset portfolios and a proven track record of successful fund manager selection and oversight,” the Sloan Foundation’s investment committee chair said.
The foundation’s President Paul Joskow praised Hewitt’s “decade-long history of working productively and effectively” in the foundations world.
“She not only understands markets, she understands how to work collaboratively with trustees and foundation management to craft effective investment strategies for the foundation’s endowment,” he added.
Prior to spending nine years at the $10.2 billion Robert Wood Johnson Foundation, Hewitt was a senior vice president for Lazard Asset Management. She also worked as a hedge fund analyst for the Torrey Funds, and as a wealth management associate at the US Trust Corporation.
Hewitt holds degrees from the University of St. Andrews in Scotland and Hamilton College.