The Museum of Modern Art has named New York University managing director Lou Fernandes as its new chief investment officer.
The museum announced Tuesday that Fernandes would lead the investment office, effective immediately. He will work alongside MoMA’s board to manage the museum’s endowment, pension, and retirement plans. As of June 30, fund assets totaled $1.48 billion.
Fernandes is replacing Tony Wai, who served as MoMA’s investment chief until mid-2022.
“We are thrilled to welcome Lou Fernandes to lead our investment office,” said James Gara, chief operating officer, in a statement. “Lou brings more than two decades of finance and investment experience to MoMA, including expertise in building teams, constructing and managing investment portfolios, and partnering with managers across asset classes.”
Prior to joining MoMA, Fernandes spent six years as managing director of investments for NYU’s endowment. Before he joined NYU, he worked at OCIO firm Hall Capital partners. He has held finance roles at Yahoo!, McAfee, and Intel Corp.
In addition to serving as MoMA’s CIO, Fernandes will continue his work as a trustee for the UC Davis Foundation and as an investment committee member at Bates College.
“I am honored to join MoMA, to lead its investment office and support its mission of connection, engagement, and education through art,” Fernandes said in a statement. “The investment portfolio’s success is a testament to the dedicated commitment of MoMA’s trustees and staff, and I look forward to working collaboratively to build on that success.”
