Word: hmc
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Meyer’s departure is the most notable in what has become a trend at HMC. Over the past eight years, Harvard has experienced an exodus of its top managers as they spin off to create their own private firms. Holding to the pattern, Meyer is taking with him four high-performing endowment managers—Edward DeNoble, David Mittelman, Michael Pradko, and Maurice Samuels—to start a private investment firm...
...Nobody at HMC likes the idea that the world knows what our compensation is,” Meyer says. “It affects the way your friends see you, the way your children are treated at school...
Meyer arrived at HMC in 1990, when it was in a state of turmoil and officials within Harvard were heavily scrutinizing...
Walter M. Cabot ’55, Meyer’s predecessor at HMC and its founder, had taken on increasing criticism in the late 1980s for declining investment returns and controversial positions in RJR Nabisco and Lomas Financial Co., among others...
Many people believed that HMC might switch to external management when Meyer arrived because of his track record of outsourcing investment responsibilities to other firms, Meyer said...