Word: bennette
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Dates: during 1970-1979
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...Bennett retired as treasurer last July and was replaced by George Putnam '42. State Street will end 26 years of handling Harvard's endowment at a nominal fee on July...
Harvard's new financial wizards showed again this week their distrust for a long tradition of chummy money management which led George F. Bennett '33 to serve simultaneously as Harvard's treasurer, president of the company that handles the University's $1.4 billion endowment, and a director of several corporations which form multi-million segments of that portfolio...
...Bennett has always insisted to critics that his position on the boards of directors of Ford Motor Co., Middle South Utilities and Hanna Mining Co. have not interfered with his management of the portfolio as president of State Street Research and Management or with his job as Harvard treasurer...
...move to disperse the enormous sphere of power and influence built up by Bennett and his predecessor Paul C. Cabot '32, also of State Street, began last spring when Putnam was chosen to succeed Bennett and State Street and Harvard concluded it was about time to change portfolio managers...
...accuse Putnam or Cabot of contemplating a complete break from traditional norms of financial management, but they are developing a keen awareness to problems of conflict-of-interest and corporate responsibility, which Bennett always chose to ignore...