Harvard Endowment's Gupta Named CIO of New York Public Library

(Bloomberg) -- Geetanjali Gupta, a senior vice president at Harvard University’s endowment, was named chief investment officer of the New York Public Library.

Gupta will manage the public library’s financial assets and endowment, valued at $1.2 billion, the library said Tuesday in a statement. She was most recently senior vice president of absolute return and public market funds at Harvard Management Co., where she helped manage portfolios valued at more than $15 billion in a variety of asset classes.

Gupta was with the Harvard endowment for more than 10 years, according to the statement. Earlier in her career, Gupta worked for Goldman Sachs Group Inc. in the investment banking division.

“She is a proven and trusted investor, with demonstrated expertise of strong long-term portfolio performance,” Tony Marx, the chief executive officer of the library, said in the statement.

Harvard’s endowment, the world’s richest at $37.1 billion, has reduced its staff, sold assets and is hiring outside money managers in order to reverse a decade of poor performance.

The New York Public Library has 92 locations and serves more than 18 million patrons annually, according to the statement.

To contact the reporter on this story: Michael McDonald in Boston at mmcdonald10@bloomberg.net.

To contact the editors responsible for this story: Mary Romano at mromano6@bloomberg.net, Alan Goldstein

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