Commonfund, an investment manager, has appointed Bradford Gallagher as chairman of the board of trustees. He succeeds Laurance Hoagland, who retires after a 12-year term. Charles Pippin has also stepped down from the board after a 12-year term. Gallagher has been on the board since 2005, and is a former managing director of Fidelity Investments and founder of Spyglass Investments.