Word: hmc
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Dates: during 2000-2009
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...departure of several top managers from Harvard Management Company (HMC) over the past year has raised new questions about the University’s use of in-house investment professionals...
...When Mr. El-Erian arrives he will assess the current portfolio and in consultation with the HMC Board make any adjustments he deems necessary,” Longbrake wrote...
Meyer left with 30 of HMC’s 175 employees, including top bond managers David Mittelman and Maurice Samuels, former HMC vice president for emerging markets Edward DeNoble, and former HMC chief risk officer Michael Pradko. After weathering criticism, primarily sparked by the Class of 1969, over the compensation of HMC’s top managers, they departed late September to establish Convexity...
Meyer still served as a paid advisor to HMC after his departure. The University did not comment on whether or not Meyer remains in this position and has divulged few details about Meyer’s involvement...
...There is no connection" between Harvard's investment in Convexity Capital Management and the arrival of the University's new endowment manager, according to Harvard spokesman John Longbrake. The print and original online versions of the Feb. 7 news article, "Ex-HMC Chief Opens $6B Fund," incorrectly reported that Harvard would wait until the arrival of endowment manager Mohamed A. El-Erian in mid-February before it commits money to Convexity. According to Longbrake, "the commitment is made" to invest $500 million in Convexity, which is led by El-Erian's predecessor, Jack R. Meyer...