Word: chancellor
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...East and North Africa to a summit to debate his ambitious agenda for bolstering trade in the region, protecting the environment and cracking down on terrorism and the trafficking of contraband goods, drugs and illegal immigrants. His much touted plan for a union for the Mediterranean looks stillborn. German Chancellor Angela Merkel has worried that it could undermine the European Union; Libyan leader Muammar Gaddafi has deemed it a colonialist affront to Maghrebi pride. Yet at its core, Sarkozy's plan has an insight that is as simple to state as it is difficult to realize: that the best...
Plugging that gap means tapping a university's endowment. That "is no different from U.S. universities," says Alison Richard, vice-chancellor of Cambridge. "But our endowment isn't sufficient, so it's a real stretch." Private donations invested by Yale University are currently worth some $23 billion; the endowment fund of rival Harvard is $35 billion. Dozens of other American universities boast funds valued at more than $1 billion. Even Britain's wealthiest universities are poor by comparison. The central endowment fund at Oxford is about $1.3 billion, and Cambridge's stands at roughly $2 billion. (The universities' individual colleges...
...hope we can get our rates of return to levels comparable to the best North American universities," says John Hood, vice-chancellor of Oxford. They've some way to go. In the decade to August 2006, Oxford's central endowment delivered an annualized return of 6.7%. Over an almost identical period, an appetite for riskier investments helped Harvard's endowment return 16.7%. At Yale, the rate was 17.2%. (In a coup for Cambridge, David Swensen, the former Wall Street exec who has masterminded Yale's returns, now sits on the university's own Investment Board...
...universities by 2015, the University of Warwick - ranked 57th, according to the U.K. Times Higher Education Supplement list, as it approaches its 50th birthday - plans to permanently host branches of three or four overseas research universities on its site in the heart of England. Nigel Thrift, Warwick's vice-chancellor, won't say which universities it has in its sights; negotiations with North American and Asian institutions are ongoing. But its "International Quarter," he says, will pursue "proper, long-lasting collaborations with three or four institutions around the world, rather than...
...case at Oxford or Cambridge, where academics have a majority on both universities' executive bodies. Hood, a New Zealander with a background in business, is Oxford's first vice-chancellor to be chosen from outside the University. In late 2006, when he proposed giving lay members a slim majority on a new governing council responsible for non-academic matters, the idea was turned down by the Congregation, the parliament of Oxford dons. In the scramble to catch up with wealthier U.S. colleges, the dons' power could discourage potential benefactors. "A governing body dominated by academic members of a university," says...