Last Tuesday Wellesley College announced that current Brandeis Chief Investment Officer Deborah Foye Kuenstner would be leaving Brandeis in February to assume the same position at Wellesley College.Kuenstner started at Brandeis at the beginning of 2007 as chief investment officer, after the "Investment Committee and Administration decided that the size and sophistication of the [University's investment] portfolio called for a dedicated in-house investment team," Executive Vice President and Chief Operating Officer Peter French told the Justice by e-mail.

"Debby joined Brandeis to build our investment office, which she accomplished, hiring an excellent team," French wrote in an e-mail to the Justice.

Wellesley began its search for a new chief investment officer last March after Wellesley's former Chief Investment Officer Jane Mendillo announced that she was leaving the school to head Harvard's endowment, Kuenstner explained.

Kuenstner attended Wellesley College as an undergraduate and said that was part of her motivation for wanting to work there.

"Brandeis is a great place; there is a fabulous investment committee here. I built a great team, but Wellesley is my place-it's my school," she said.

Kuenster said that she is going to continue her duties as chief investment officer at Brandeis until February and will remain available to the Student Union's new Committee on Endowment Ethics and Responsibility if it comes to her with questions.

The purpose of the committee, whose members are currently being selected, is to research and make recommendations to the Board of Trustees with regard to targeted divestment, new investment, changes in investment levels and shareholder resolutions. Committee members were supposed to meet with Kuenstner if they had questions about investment recommendations.

"I made the offer, and it still stands," Kuenstner said.

Student Union President Jason Gray '10 said that CEER was going to continue to move ahead as planned.

"We will have to speak to the new chief investment officer once the new chief investment officer comes, but I think that it's okay timing because we are building the committee this semester and doing a lot of preliminary work that will involve research and building a list of all the questions to ask regarding our investments. Hopefully the integration will be smooth between an outgoing chief investment officer and an incoming chief investment officer," Gray said.

Senator for the Class of 2011 Alex Melman told the Justice by e-mail, "Since CEER expects to work closely with the CIO, we hope that the new [CIO] will be open to CEER's work and strongly consider environmental and social ethical considerations, as well as community involvement in proxy voting decisions."

In the upcoming months, Brandeis will begin its search for a new chief investment officer. Kuenstner said she will play a limited role in determining whom to hire.

"I won't be in a decision-making capacity but I know more than anybody else at the University about potential candidates, so I certainly will suggest people, and I'll talk to whatever executive search firm [the University] hire[s]," Kuenstner said.

Peter French explained in an e-mail to the Justice that "the first step in a search process is the preparation of a job description and qualifications. Once that has happened, the search begins and candidates apply for the job. It is too early to know if there will be candidates for the position from Brandeis. Several trustees, President Reinharz and myself will be involved in the selection."

Gray expressed confidence that the transition in hiring a new chief investment officer will be an easy one.

"Peter French is on the ball and will make sure that everything works smoothly. I have complete confidence in that. I wish [Kuenstner] the best of luck, and I hope for a smooth transition, especially in the financial climate that we have today. I am confident that everything will be fine," Gray said.

French expressed a similar confidence in the process of finding a new chief investment officer.

"We will move quickly to ensure that the investment of the endowment is properly staffed, and I do not foresee any disruptions to the program," French wrote in his e-mail.