The Boston Foundation has announced that Jerrold (Jerry) Mitchell has been named Chief Investment Officer of the Foundation, effective immediately. In this new position, Mitchell will be responsible for the Foundation’s investment activities, overseeing the Foundation’s $675 million endowment.
“We are extremely fortunate to have an individual with Jerry Mitchell’s wealth of knowledge and experience at the highest levels in the investment arena to fill this vital role at the Boston Foundation,” said Paul S. Grogan, President and CEO of the Boston Foundation. “Jerry has also been actively involved in the civic and nonprofit arenas, taking positions of high responsibility in a number of organizations that make significant contributions to the community.”
In his new position at the Boston Foundation, Mitchell will be making recommendations regarding the Foundation’s strategic and tactical asset allocation, and work closely with the Boston Foundation’s Investment Committee. He will advise the Foundation on the selection of outside money managers, oversee internal money management efforts, and address the potential use of new investment vehicles.
At the beginning of his career, Mitchell joined the Wellington Management Company and stayed there for more than 27 years, becoming a Partner. At Wellington, he was the manager of domestic and international equity portfolios for pension funds, endowments, foundations and mutual funds. He was also the founder and director of the international department.
In 1995 he made the decision to leave Wellington and pursue a lifelong dream of attending divinity school. He received his MTS from Harvard Divinity School in 1997 and a D. Min degree from Episcopal Divinity School in 2001.
Following divinity school, he went back to his roots and became an investment advisor for the Alaska State Pension Investment Board and the Alaska Permanent Fund Corporation. In 2001, he became Chief Investment Officer for the Massachusetts Pension Reserves Investment Management Board, where he oversaw the management of the Commonwealth’s $37 billion fund for state workers.
Gail Snowden, Vice President for Finance and Operations at the Foundation, welcomes Mitchell’s long history of investment management experience, as well as his more recent decision to attend divinity school. “Jerry brings two very strong interests to his work here at the Boston Foundation, both extremely valuable. We can certainly make good use of his background in investment management, and he will also be contributing to the greater good of the community in a significant way. It’s a perfect fit.”
Mitchell has a BA from Yale University and a JD from Harvard Law School.
* * *
The Boston Foundation, one of the nation’s oldest and largest community foundations, has an endowment of almost $675 million, made grants of $51 million to nonprofit organizations, and received gifts of $41 million last year. The Boston Foundation is made up of 750 separate charitable funds, which have been established by donors either for the general benefit of the community or for special purposes. The Boston Foundation also serves as a civic leader, convener, and sponsor of special initiatives designed to build community. For more information about the Boston Foundation and its grant making, visit www.tbf.org , or call 617-338-1700.