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Jane L. Mendillo, who worked at Harvard Management Company (HMC) for 15 years until her departure to run Wellesley College’s investments in 2002, will return as HMC’s CEO this July, the University announced last week...
...former vice president of external investments at HMC revamped Wellesley’s investment strategy, creating its first investment office, and helped the school’s endowment earn an average annual return of 13.5 percent during her five-year tenure. Wellesley’s investments grew by almost a quarter in 2007 and nearly matched HMC’s results...
...Mendillo’s appointment comes after years of instability at HMC, beginning with the 2005 departure of the company’s long-time CEO Jack R. Meyer, who left to launch a hedge fund amid heated criticism over his multimillion dollar compensation—and took 30 HMC employees with...
...move comes just over six months after HMC's previous chief, Mohamed A. El-Erian announced he would step down. Robert Kaplan, a former vice chairman at Goldman Sachs and a professor at the Harvard Business School, has acted as interim CEO since January 1 and, the University says, will now serve on HMC's board of directors...
When El-Erian assumed leadership of HMC in 2006, the firm was severely in need of rebuilding, having lost more than 30 employees when the previous CEO, Jack R. Meyer left to form his own hedge fund with $500 million in seed money from the University...