Peter H. Ammon has been named chief investment officer for the University of Pennsylvania. Currently a director in the Yale University Investments Office, he will begin his new duties at Penn on July 1. Ammon will be responsible for overseeing management of the University's endowment and pension plan, which were valued on June 30, 2012, at $6.8 billion and $1 billion, respectively.
 
"Peter is a remarkably talented investment manager with impressively wide and successful experience across asset classes," Penn President Amy Gutmann said. "He is the right person to lead Penn’s talented investment team and to maximize long-term returns, manage risk and generate the resources that help support our highest priorities, including our commitment to an all-grant, no-loan financial-aid program for undergraduates and our innovative interdisciplinary teaching and research initiatives.”
 
At Yale, Ammon has had deep involvement with asset allocation, domestic and foreign equities, absolute return and the timber portfolio.
 
“I look forward to partnering with the Investment Board, senior leadership and talented staff of the Office of Investments to help Penn generate the resources to support the University’s mission,” Ammon said.
 
"Peter has an extraordinary track record and a sophisticated understanding of the opportunities and challenges confronting investors today,” said Penn Executive Vice President Craig R. Carnaroli. “Penn’s endowment continues to grow, due both to strong performance and to the record-breaking success of our $4.3-billion Making History campaign, during which we raised over $1.9 billion in new gifts and pledges to the endowment. With Peter’s leadership, we will continue to put these gifts to work to maximally benefit Penn students and faculty now and in the years, decades and generations ahead.”
 
Ammon succeeds Kristin Gilbertson, who stepped down in 2012 after eight years heading Penn’s investments office. David Harkins, Penn’s managing director for public markets, has been serving as interim chief investment officer.
 
Prior to joining Yale in 2005, Ammon worked at the Princeton University Investment Company. He graduated from Princeton with an undergraduate degree in politics and holds an M.B.A. and a master’s in international relations from Yale. He is a CFA Charterholder.