Word: meyering
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When Jack R. Meyer departs Harvard to start his own investment firm in the coming months, he will enter the market with a track record that’s sure to have investors lining up to hire...
After fifteen years at the helm of the Harvard Management Company (HMC), Meyer is bequeathing his successor an endowment that makes Harvard the second wealthiest nonprofit in the world, with a net worth larger than some countries...
...Meyer defends the compensation system but notes that it is less generous than most private sector firms, thus making it harder to attract managers. And HMC’s troubles may only increase with the cap on maximum compensation set by its board in March...
...Meyer, who designed HMC’s compensation system, believes it is sound. On top of a base salary around $400,000, the incentive-based system provides managers with bonuses when they outperform their benchmarks...
...Meyer says he is not confident that an academic setting can retain “world-class” portfolio managers, given what the culture of a university is willing to accept...