Hook named Ohio State's first chief investment officer
Jonathan D. Hook has been named vice president and chief investment officer for Ohio State, one of the nation's largest universities. In this newly created position, Hook will manage the university's $2.2 billion long-term investment pool which includes a $1.5 billion gifted endowment. He begins his new job on Aug. 1.
"Jonathan brings a proven track record to Ohio State. He created the office of investments at Baylor University and built one of the top-performing university endowments in the country," said William J. Shkurti, senior vice president for Business and Finance, to whom Hook will report in his new role.
At Baylor University, Hook served as associate vice president and chief investment officer since 2001, overseeing a $1.1 billion endowment. In 2005, Endowment and Foundation Money Management magazine named him the Endowment Officer of the Year with the best performing portfolio (25.2 percent) of all universities in the annual survey conducted by the National Association of College and University Business Officials (NACUBO).
"Ohio State's students and faculty are achieving remarkable things, and now is precisely the right moment for the University to redouble its efforts in sustaining their work," said Ohio State President E. Gordon Gee. "Jonathan Hook possesses the expertise to assure that the university succeeds in its responsibility to the public and to our financial supporters to maximize investment returns. I am confident that he will help lead us to a new level of performance," Gee said.
The position of chief investment officer was created following a review of operations of the university treasurer's office after the former treasurer retired at the end of 2006.
"Due to the size and complexity of the university long-term investment pool, investment management responsibility was separated from the university treasurer's many duties and a new position of chief investment officer was formed to ensure full-time, strategic management of the funds," Shkurti explained.
"I am most impressed by the strong stance by university leadership in pursuing a new level of prominence. Ohio State administration has the managerial talent and resources to advance its position," Hook said. "I look forward to building the investment office at Ohio State and exploring new ideas and structures in the area of endowment management."
Prior to his role at Baylor University, Hook had a 20-year career in financial services, most recently serving as senior vice president for First Union Securities in Atlanta. He received his bachelor of science from Willamette University and an MBA from Baylor University.
Ohio State's long-term investment pool was ranked 27th among all universities base upon asset size and 7th for public institutions in the NACUBO 2007 National Endowment Study. However, when NACUBO looked at the assets per full-time students, Ohio State ranked 308th among all institutions and 27th among publics. See www.nacubo.org for the full report.
Funds in Ohio State's gifted endowment are donor directed. Approximately 25 percent of the income distributed from these funds are directed to student aid, two-thirds of the endowment income distribution provides educational and academic support and the remainder are dedicated to public service and administrative support.
With total enrollment in Columbus at 52,568 students, Ohio State's main campus is the largest single campus in the nation. Ohio State is ranked as the state's best public university and 19th nationally by U.S. News & World Report. The National Science Foundation ranks Ohio State seventh among national public universities in research spending.
Established as a federal land grant institution in 1870, the university's 18 colleges teach more than 12,000 courses and offer more than 165 undergraduate majors. In addition, Ohio State has 130 fields of graduate study leading to a master's degree, 103 fields leading to a doctoral degree, and professional degrees in dentistry, law, medicine, nursing, pharmacy, optometry and veterinary medicine. An additional 7,000 students attend regional campuses, bringing the total student enrollment to nearly 60,000. The university has an annual operating budget of $4 billion.