Word: hmcã
(lookup in dictionary)
(lookup stats)
Dates: all
Sort By: most recent first
(reverse)
Harvard Management Company—which oversees Harvard’s multi-billion dollar endowment—was plagued by a culture of ethical laxity, Rose said. Special relationships with funds run by former employees and the use of offshore investment companies—both used to boost HMC??s once-legendary returns—may not be illegal, but are considered to be ethically questionable by some, particularly in light of Harvard’s non-profit status...
...mail sent May 30, 2002 to Marne Levine, chief of staff for then-Harvard President Lawrence H. Summers, Mack detailed her concerns regarding what she deemed HMC??s “frightening” usage of derivatives and statistical modeling techniques, as well as the Company’s lack of a timely and portfolio-wide risk management system, high employee turnover rate, and low level of productivity in the workplace, specifically among managers...
...University does not comment on the specifics of personnel cases, “all allegations brought to the attention of the Management Company and its board are taken seriously and investigated thoroughly in order to ensure the integrity of HMC processes.” He further points to HMC??s average annual investment return of 13.8 percent over the 10 years up through 2008 as evidence of the Company’s “strong portfolio management, personnel and risk management systems...
...roughly 25 percent in the coming months. In an effort to “re-balance and re-engineer the organization,” reductions will include investment professionals as well as “back office” and support personnel, according to University spokesman John D. Longbrake. HMC??which currently employs more than 200 people—has faced heightened scrutiny in recent months as University officials prepare for a projected 30 percent decline in the endowment for the year ending June 30. Harvard’s endowment, valued at almost $37 billion last June...
...College’s Class of 1969 have called for drastically lower pay for top executives at the Harvard Management Corporation, who manage the university’s endowment. They have also requested that the managers give back their income earned during the fiscal year ending June 30, when HMC??s top six officials made a collective $26.8 million. Even given the fact that in the following four months, Harvard’s endowment plunged a record 22 percent—losing roughly $8 billion—such calls for drastically lower pay are unreasonable, as they fail...