Word: hmc
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Dates: during 2000-2009
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...vice president for external affairs of Harvard Management Company (HMC), which manages the University’s $18.3 billion endowment, will leave HMC after 14 years to serve as Wellesley College’s first chief investment officer...
Some members of the Harvard community are critical of the HMC employees’ high earnings...
...high pay per se, it’s just that the inequality is troubling,” said Benjamin L. McKean ’02, a member of the Progressive Student Labor Movement, who is also a Crimson editor. “The same University that compensates [the HMC employees] would view the needs of 1,000 working families it employs as inconsequential...
...Meyer defended the high earnings of HMC employees, saying that external investment managers who performed at the same level as HMC investors would cost Harvard more than twice as much...
Because the HMC is a nonprofit subsidiary of Harvard, it must report the compensations of its five highest-paid employees. Nonprofit institutions using outside investment managers are not required to report these figures...