BOSTON, Dec 8 (Reuters) - JPMorgan Chase & Co executive Catherine Keating, who oversaw investment management in the Americas, is leaving the bank to become chief executive officer of Commonfund, which invests money for endowments and foundations.
Commonfund said on Monday that Keating will replace Verne Sedlacek, who announced plans to retire earlier this year after more than a decade in the position. Keating is expected to start in February.
Keating, a lawyer by training, is one of a small number of top-ranking female bankers, and was named as one of the 25 Most Powerful Women in Finance by American Banker magazine last year.
Commonfund invests roughly $25 billion for roughly 1,400 institutional clients, far less than the roughly $700 billion Keating helped oversee at J.P. Morgan as Head of Investment Management Americas. She held that position for nearly four years, and before that served as CEO of the bank’s U.S. Private Bank for nearly 7 years. (Reporting by Svea Herbst-Bayliss; Editing by Jeffrey Benkoe)