Word: hmcã
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...Following the group’s initial protests, Harvard sharply reduced payments to its chief investors to less than a quarter of their 2003 levels, and the scrutiny over salaries played a part in prompting an exodus of money managers that included HMC??s long-time CEO Jack R. Meyer...
...Last year, compensation for HMC??s president and top five officials summed to $26.8 million for the fiscal year ending June 30—a 20 percent increase from the previous year, but a marked drop from that of five years earlier...
...Yale Chief Investment Officer David Swensen—who makes roughly $2 million a year—has criticized HMC??s high salaries in the past, saying that such pay “tears at the fabric” of the University and leaves HMC “inherently unstable...
...Arian served as HMC??s endowment chief from February 2006 through December 2007, before stepping down to return to the California-based Pacific Investment Management Company, where he previously served as a managing director. He was replaced by Robert S. Kaplan, a management professor at Harvard Business School, who served as the interim head for the remainder of the fiscal year without paid compensation. Jane L. Mendillo, a veteran HMC employee of 15 years who left Harvard in 2002 to manage Wellesley College’s investments, returned in July to become HMC??s new chief...
...private equity portfolio. A $1.5 billion sale of its private equity holdings—nearly a third of Harvard’s investments in that sector—would mark one of the largest-ever sales of a private-equity portfolio, The Journal article said. As of June 30, HMC??s planned allocation to private equity for 2009 was up to 13 percent of the University’s endowment, or just under $4.8 billion. University spokesman John D. Longbrake declined to confirm the sale when asked about the Private Equity Week report last week, citing a standing...