Word: hmcã
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Harvard Management Company (HMC) has long been a clandestine organization. Though it manages Harvard’s $34.9 billion endowment and its annual returns are announced each year in a closely-watched press release, HMC??s portfolio, trades, and practices are generally shrouded in secrecy...
Thanks to Mohammed A. El-Erian, HMC??s soon-departing president and CEO, HMC has been making a concerted effort to be more open. In a letter to investors two months ago, El-Erian wrote that “many of you have told us that […] we should nonetheless be more transparent about HMC??s structure, activities, and governance. We agree.” A main component of El-Erian’s program is hmc.harvard.edu, a Web site—HMC??s first—launched in September. Given...
Indeed, it would be hard to argue that new site improves the relationship between the University community and HMC. It touts the achievements of HMC, which are indeed impressive. Several tables and charts allow users to understand HMC??s profits. There is even a bare bones organizational chart which shows the seven subunits of HMC, in case you wanted to know that HMC has its own internal IT department. Yet crucial information about HMC??s structure and investments is notably absent...
...During HMC??s rebuilding efforts we have also focused on deepening our institutional and organizational roots to ensure that the Company can no longer be significantly disrupted by the departure of any individual or groups of individuals (including the CEO),” El-Erian wrote...
Benjamin J. Heller ’94, a managing director at the hedge fund HBK Investments who has known El-Erian professionally for a decade, said yesterday that El-Erian’s legacy would be his rebuilding of HMC??s internal management team in the wake of Meyer’s departure...