Word: hmc
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Harvard Management Co. (HMC), the group responsible for managing Harvard's multi-million dollar endowment, is undergoing an inter review and investigating options which could weaken its ties to the University...
...review comes on the heels of reports this summer, first published in The Crimson and then in The Wall Street Journal, of the ballooning salary and compensation packages given the HMC managers, including Jonathon Jacobson, who earned $6.1 million last year...
...Boston Globe reported yesterday that Harvard is considering moving to external management of the endowment, a plan which would sell HMC to its executives or vastly change the system by which it compensates its money managers...
...University does not directly control HMC, but President Neil L. Rudenstine and Harvard Corporation member D. Ronald Daniel, Robert Stone and Richard Smith are on the HMC board, as are Vice President for Finance Elizabeth C. "Beppie" Huidekoper and Robinson Professor of Business Administration Jay O. Light...
...hard to make a distinction between the board and the University," HMC President Jack R. Meyer said...