Friday, November 2, 2001

Kamehameha Schools’
chief investment
officer quits

His is the latest in a string
of high-level departures

By Rick Daysog

The Kamehameha Schools' top asset manager submitted his resignation today.

Wendell Brooks, the chief investment officer of the $6 billion charitable trust, informed the estate managers that he will be stepping down, several people close to the trust said.

Brooks could not be reached for comment and a spokesman for the trust also could not be reached.

Brooks' abrupt announcement is the latest in a string of top-level departures at the trust. Chief Administrative Officer Gerald Morihara recently stepped down and asset manager Sanford Murata has announced he is leaving.

Brooks, who joined the trust in February 2000, was the estate's first chief investment officer.

The creation of the position was part of a number of court-sanctioned reforms initiated by the trust in response to a grueling audit by the Internal Revenue Service.

The IRS had threatened to revoke the estate's tax-exempt status.

As chief investment officer, Brooks was in charge of running a multibillion dollar investment portfolio which once included large stakes in the Goldman Sachs investment banking firm, banking interests in California and China and extensive mainland real estate holdings.

Brooks previously served as president and chief executive officer of Chaney Brooks & Co., one of Hawaii's largest property management firms.

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