Word: mittleman
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Former HMC bond manager David R. Mittleman earned $18 million in the fiscal year that ended in June, while his colleague Maurice Samuels earned $16.9 million that year. Both men, along with former HMC President Jack R. Meyer, have since left Harvard to form Convexity Capital Management, a firm which recently set an all-time record for start-up hedge funds by raising $6 billion...
...enable us to attract the most talented people,” Summers said.Some members of the Harvard community, including a group of alumni from the Class of 1969, have criticized the pay of Harvard’s fund managers. In 2003, star bond managers Maurice Samuels and David R. Mittleman were paid $35 million and $34 million, respectively.“The question of compensation should be fully open and discussed by the University community,” one of the alumni, William A. Strauss ’69, said in an interview Friday.El-Erian comes to the job well...
Harvard’s gains were once again propelled by particularly strong returns in the fixed-income sector. Maurice Samuels and David R. Mittleman, the University’s bond managers whose salaries in excess of $34 million ignited a public outcry last year, are sure to be well compensated again this year for their performance...
...while Mittleman exceeded his benchmark in domestic bonds by a similar margin as last fiscal year, he and Samuels will see a smaller paycheck after the management company board voted in March to lower its maximum compensation below last year’s top salaries...
...lowering the cap below last fiscal year’s payouts, Harvard will at least cut the salary of Maurice Samuels, who earned $35.1 million in fiscal year 2003. David R. Mittleman, who made $34.1 million, will likely also...