July 23, 2021

The financial services and investment firm that manages Fordham University’s $8.3 billion endowment and $1.5 billion endowments announced on Monday it has hired a new chief executive.

The university said John G. Fowler will assume the post in early 2019, three months after he left as president of the firm’s investment arm.

The university announced his appointment in April, and he took office in September.

Fordham has invested $4 billion in private equity funds since 2010, with the largest investment in 2016, the school said.

It also invested in a new, publicly traded stock offering, called the Fordham Global Investment Corporation.

Ford is one of the biggest beneficiaries of the JOBS Act, which passed in January.

Under the JOBs law, companies that invest in a number of industries or are otherwise engaged in a broad range of activities are subject to an annual investment tax credit worth at least 75% of their adjusted gross income.

Companies with annual adjusted gross incomes of $100 million or more get the credit for at least one of four categories: direct investment, non-U.S. direct investment and other foreign investment.

The Fordham Investment Corporation also is a U.S.-based subsidiary of Ford.

The move comes at a time of heightened scrutiny of financial firms and the federal government’s efforts to curb them.

The JOBS act also has prompted Ford to review its tax returns, which were previously kept confidential, as part of a broader effort to determine whether it has a legitimate claim to a refund on the investment.

Last week, the university asked for $50 million in state and federal relief from a $2.3 million settlement the U.K. government reached with the university in 2015.

The settlement requires Fordham to disclose the amount of tax credits it has received and the tax credits paid by investors in its endowment.

Fordham is one among the nation’s largest endowees.

Ford was not immediately available for comment.