PHILADELPHIA -- Landis Zimmerman, formerly associate director of investments for the Rockefeller Foundation, has been named managing director for investments at the University of Pennsylvania, according to Kathryn Engebretson, vice president for finance at Penn. Zimmerman began his new duties on January 19.

In his new role, Zimmerman will be responsible for overseeing management of the University's endowment. His responsibilities include assisting Penn's Investment Board in formulating investment strategy; identifying new investment opportunities; and evaluating manager performance.

"Under Landis' leadership, I am confident that Penn's Office of Investments will strategically manage the University's assets to maximize investment returns and position the University to meet the financial challenges that lie ahead in the 21st Century," Engebretson said.

Zimmerman served as associate director of investments at the Rockefeller Foundation for two years before coming to Penn. Prior to that, he had served as associate director at Bear, Stearns & Co. Inc. from July 1994 until April 1996.

He had previously been a vice president at J.P. Morgan Securities Inc. from 1985 until June 1994. He began his career as assistant treasurer at Chemical Bank in 1981.

Zimmerman received an M.B.A. in Finance from Penn's Wharton School, and a B.S. in economics from Penn.