The first Environmental, Social and Governance report for Pitt’s $5.7 billion endowment is “in the process of being finalized,” officials said Wednesday.
Pitt announced Thursday that Jeffer Choudhry will serve as the University’s new chief investment officer, responsible for managing the roughly $5.6-billion Consolidated Endowment Fund.
The Investment Committee of Pitt’s Board of Trustees voted at a public meeting Thursday morning to keep the spending policy and distribution from the University’s endowment funds the same in the 2022 fiscal year.
Pitt quietly released a socially responsible investment policy statement in March, delivering another win to student activists pushing for fossil fuel divestment and endowment transparency.
Not to mince words: it is wrong that the Chancellor, who received a $669,738 base salary this year, would use sympathetic students as an excuse not to protect the jobs of the faculty and staff who support those students, often for wages less than one-twentieth of his.
Pitt’s budget, and the process to craft it, is full of jargon and specialized terminology. This guide attempts to explain how the annual University budget is put together, as well as the different pieces that compose the budget and endowment.
Pitt’s chief financial officer and senior vice chancellor, Arthur Ramicone, will retire in August after a 30-year career at Pitt, the University announced Tuesday.
Ramicone, 64, is the second senior...
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