Word: hmc
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Dates: during 2000-2009
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...According to documents and e-mail records, all provided by Mack, Levine had initially assured Mack that their correspondence would remain confidential. But on July 1, HMC chief Jack R. Meyer called Mack into a meeting, in which she was presented with copies of her e-mails, according to a letter sent to Levine and Summers by Mack’s attorney...
...next day, Meyer dismissed Mack, pointing to “these baseless allegations against HMC [that you sent] to individuals outside of HMC,” the letter says...
...Harvard spokesman John D. Longbrake says that while the 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...
...Mack, a derivatives researcher for Enron before coming to HMC, says she was “shocked” by the mishandling and ignorance of derivatives at the HMC international equities division where she worked, led by Jeffrey B. Larson. At the time, Mack says, Larson’s group had only recently begun exploring more sophisticated financial instruments such as credit default swaps and capital structure arbitrage...
...year veteran of HMC, Larson delivered 11.6 percent average annual gains in his section of the Company’s portfolio for the five years prior to his departure, blowing past the 4.1 percent benchmark for his asset class, according to the Boston Globe...