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Cornell endowment chief steps down

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Cornell University has announced that Michael Abbott has stepped down from his post as chief investment officer.

According to university officials, “It had become apparent that his style of conducting business is inconsistent with Cornell’s policies and expectations.”

Abbott and Cornell agreed that it is in their mutual interests to end the relationship. Abbott joined Cornell late last year and replaced James Walsh, who returned to the UK to form a new hedge fund called Cayuga Capital Partners.

A.J. Edwards assumes Abbott’s responsibilities at Cornell on an interim basis until the university has