Berea College appoints first chief investment officer to oversee endowment stewardship

BEREA, Ky. — Berea College has appointed Joshua “Josh” Shannon, CFA, as its first chief investment officer, establishing a new leadership position focused on the long-term stewardship of the College’s endowment.

Berea’s endowment supports the College’s fully funded education model and the faculty, staff and programs that make student success possible. 

President Cheryl L. Nixon and Samantha Earp, chair of the Berea College Board of Trustees, announced the appointment, which reflects the importance of the endowment to the College’s distinctive educational model and its commitment to ensuring that financial resources continue to support its mission for generations to come.

“Berea College’s endowment is more than a financial resource — it is fundamental to our promise to provide every student with a fully funded degree,” Nixon said. “As we expand our commitment, responsible, long-term stewardship of these resources becomes even more important. Josh brings the experience and mission-centered perspective that will help us sustain this promise for generations of Berea College students.”

Shannon brings more than 25 years of investment experience to Berea. He most recently served as deputy chief investment officer at Hershey Trust Co., where he helped oversee a multi-asset investment portfolio supporting the Hershey Trust and, particularly, Milton Hershey School. The school provides a cost-free education to students from low-income families from pre-kindergarten through high school.

At Hershey Trust, Shannon helped lead investment strategy, asset allocation, portfolio construction, risk management and investment team development. He also worked closely with trustees and organizational leadership.

Earlier in his career, Shannon held investment leadership roles with Goldman Sachs Asset Management and Honeywell Capital Management and began his career at JPMorgan. He earned a degree in economics from Lafayette College and holds the Chartered Financial Analyst designation.

“I am deeply honored to join Berea College and help steward the resources that make its extraordinary mission possible,” Shannon said. “One of the great privileges of my career has been the opportunity to work in support of institutions that change lives through education, and Berea’s history and commitment to expanding educational opportunity are truly remarkable. I am excited to work alongside Berea’s leadership and trustees to continue building an investment program worthy of that mission and one that serves the College and its students for generations to come.”

For many years, Berea has partnered with Hirtle & Co., a chief investment officer firm, for investment management and expertise. The College’s leadership and Board of Trustees expressed appreciation for the firm’s partnership and the role it has played in supporting the endowment. 

Berea and Hirtle & Co. will work through a phased transition designed to maintain continuity and keep the College’s long-term mission at the center of the process.

Shannon will be based in the greater New York City area, providing proximity to investment partners and financial markets while maintaining close connections with Berea College leadership and the campus community.