PHILADELPHIA  Kristin A. Gilbertson has been named chief investment officer for the University of Pennsylvania, according to Craig Carnaroli, senior vice president for finance at Penn.  Gilbertson will begin her new duties on August 15.

Gilbertson was previously Managing Director, Public Equities at Stanford Management Company in Menlo Park, California.

In her new role, Gilbertson will be responsible for overseeing management of the University's $3.9 billion endowment.  Her responsibilities will include assisting Penn's Investment Board in formulating investment strategy; identifying new investment opportunities; evaluating manager performance; and overseeing the investment of Penn's $600 million pension plan.

"Kristin is a talented investment manager with a wealth of experience in developing successful and innovative investment strategies," Carnaroli said.  "She is the ideal person to lead Penn's Office of Investments as it strategically manages the University's assets to maximize investment returns and position Penn to meet the financial challenges that lie ahead."

At Stanford Management Company, Gilbertson was responsible for the public equity and long/short portfolios for Stanford University's $9.8 billion endowment.

"I am delighted that Kristin will be joining Penn as chief investment officer," said Penn  President-elect Amy Gutmann, who will  assume the post July 1.  "She is a highly skilled and successful investment analyst with a keen understanding of the challenges faced by large diverse organizations in today's global economy."  

Prior to joining Stanford in 2002, Gilbertson spent 10 years at the World Bank in Washington D.C., where she was most recently a Principal Investment Officer and Strategist in the Investment Management Department. Gilbertson managed U.S. and International Equity portfolios and was also active in all asset allocation decisions for the $10 billion pension portfolio and the $1 billion medical benefits portfolio.

"We are indeed fortunate to have attracted someone with Kristin's depth and breadth of experience in the financial sector, both on a national and international level," said Howard Marks, Penn trustee and chair of Penn's Investment Board.  "As head of the investment board, I look forward to working with her as we develop new strategies to grow the Universitys endowment and increase investment returns."

Prior to being recruited into the Investment Management Department in 1998, Gilbertson served as an Urban Economist for the Europe and Central Asia Region of the World Bank and was responsible for municipal finance and infrastructure investments in the former Soviet Union.  Gilbertson joined the World Bank in 1992.

She received her Bachelor of Arts degree in Economics from Harvard University in 1987, and a Master of Business Administration degree from Stanford University in 1992.  Gilbertson is also CFA charterholder.