T. Dennis Sullivan, vice president in the public finance department at J. P. Morgan Securities in New York, will become the first president of the newly created Princeton University Investment Co., which is due to begin operating later this spring at the Ivy League school in New Jersey.

Sullivan, a 1970 Princeton graduate, said he wants to build on the "truly remarkable" performance recently exhibited by the $2-billion endowment fund.

The company's board of directors will oversee investment of the university's endowment, and Sullivan will act as liaison between the university's board of trustees and its investment managers.

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