Key Takeaways
- • RWJBarnabas Health, New Jersey's largest academic health care system, appointed Kathleen Jacobs as Chief Investment Officer, effective January 9, 2024, per a November 20, 2023 company announcement.
- • Jacobs will direct investment strategy for the $8 billion health system, reporting to Frank Pipas, Executive Vice President and Chief Financial Officer.
- • Her purview covers the Long Term Investment Portfolio, Short Term Capital Reserve Portfolio, Foundation Portfolios and Endowments, and ERISA Plan Assets, including employee retirement plans.
- • Jacobs most recently served eight years as Chief Investment Officer of New York University, where the company says she institutionalized the endowment and generated returns significantly exceeding benchmarks.
Summary
RWJBarnabas Health has appointed Kathleen Jacobs as Chief Investment Officer, effective January 9, 2024, according to the system's November 20, 2023 announcement. The role oversees investment strategy for the system's $8 billion portfolio. Jacobs will report to Frank Pipas, Executive Vice President and Chief Financial Officer, and will be responsible for formulating a strategic vision for the investment portfolios that aligns with the system's mission, goals, and risk tolerance. The company described the new position as reflecting systemwide growth and a prioritization of strategic investment.
Jacobs' purview includes the Long Term Investment Portfolio, the Short Term Capital Reserve Portfolio, Foundation Portfolios and Endowments, and the system's ERISA Plan Assets, which include employee retirement plans. Pipas said the role will evolve as the system continues to expand, and that Jacobs' background is suited to its needs.
Jacobs most recently served as Chief Investment Officer of New York University for eight years, leading the Investment Office and overseeing all of the university's endowments. The company says she transformed and institutionalized the NYU endowment and generated investment returns significantly exceeding benchmarks. She also served on the Investment Committee for the NYU and NYU Langone Medical Center retirement plans.
Before NYU, Jacobs was a Managing Director in the Office of Investments at NewYork-Presbyterian Hospital. Beginning in 2008, she helped build the hospital's first investment office and held a leading role in asset allocation and fund manager selection across asset classes. Earlier, she was Senior Investor for the Juilliard School's endowment and spent a decade in investment roles of increasing responsibility at Goldman Sachs and J.P. Morgan. She holds a Bachelor of Science in Business Administration from Bucknell University, magna cum laude.
RWJBarnabas Health serves an eight-county area with five million people through twelve acute care hospitals, three children's hospitals, and a range of behavioral health, home care, and ambulatory services. The system employs more than 38,000 people and 9,000 physicians and is affiliated with Rutgers University.
Jacobs' purview includes the Long Term Investment Portfolio, the Short Term Capital Reserve Portfolio, Foundation Portfolios and Endowments, and the system's ERISA Plan Assets, which include employee retirement plans. Pipas said the role will evolve as the system continues to expand, and that Jacobs' background is suited to its needs.
Jacobs most recently served as Chief Investment Officer of New York University for eight years, leading the Investment Office and overseeing all of the university's endowments. The company says she transformed and institutionalized the NYU endowment and generated investment returns significantly exceeding benchmarks. She also served on the Investment Committee for the NYU and NYU Langone Medical Center retirement plans.
Before NYU, Jacobs was a Managing Director in the Office of Investments at NewYork-Presbyterian Hospital. Beginning in 2008, she helped build the hospital's first investment office and held a leading role in asset allocation and fund manager selection across asset classes. Earlier, she was Senior Investor for the Juilliard School's endowment and spent a decade in investment roles of increasing responsibility at Goldman Sachs and J.P. Morgan. She holds a Bachelor of Science in Business Administration from Bucknell University, magna cum laude.
RWJBarnabas Health serves an eight-county area with five million people through twelve acute care hospitals, three children's hospitals, and a range of behavioral health, home care, and ambulatory services. The system employs more than 38,000 people and 9,000 physicians and is affiliated with Rutgers University.
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