Alex Banker was appointed to run Yale University’s $31.2 billion endowment on an interim basis following the death this week of longtime Chief Investment Officer David Swensen.

Yale President Peter Salovey plans to announce a process for appointing a successor, university spokeswoman Karen Peart said Friday in an emailed statement.

Banker joined the endowment in 1997 and oversees risk management and capital markets activities.

Prior to coming to Yale, he was a senior manager at Coopers & Lybrand in Boston. He received an undergraduate degree from Trinity College in 1983 and an MBA from Harvard University in 1991.

Read more: Yale’s Swensen Leaves Legacy of Proteges Across Investing

Swensen, who died Wednesday at age 67 after a long battle with cancer, ran the endowment since 1985. He was credited with changing the model for institutional investing, moving away from traditional stocks and bonds and into private equity, hedge funds and venture capital.