Word: hmc
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Continuing a three-year-old trend, nine analysts from the Harvard Management Co. (HMC) announced earlier this month that they would leave HMC to start their own investment firm...
...members of the Select Equity Group, which manages nearly $5 billion in domestic equities for HMC, will leave this weekend to found Adage Capital Management...
...HMC President Jack E. Meyer said the split was “friendly,” and that the Select team will be sorely missed at the investment firm...
Phil Gross and Robert Atchinson, the heads of the Select Equity team and two of HMC’s most senior analysts with 18 and 16 years experience at HMC respectively, will head up the new venture...
...With globalization and consolidation likely to continue, HMC is unlikely to avoid controversy entirely—but the University seems just as likely to overlook the occasional blow-up as long as the money keeps coming...