Word: putnam
(lookup in dictionary)
(lookup stats)
Dates: during 1970-1979
Sort By: most recent first
(reverse)
When he first began to consider the three alternatives, Putnam said he was leaning to the second alternative, but that he would carefully study all of them before making his recommendations to Bok and the Corporation. But in the course of a meeting with over 40 university financial managers and money men from almost every major foundation or pension fund--all of whom had a slightly different blend of the three alternatives--Putnam became intrigued with the idea of setting up an internal management company for Harvard. The idea was a novel one for universities and the possibilities for management...
...last fall, Putnam recommended to the Corporation that Harvard set up its own independent management company to handle most of the endowment and that the rest be divided up among several specially-selected outside firms. The decision to keep about one-third of the portfolio with outside managers resulted from a combination of factors that Putnam considered. First, President Bok expressed a very strong preference for not keeping "all of the University's eggs in one basket." Second, Putnam and Bok wanted to ensure that the University maintained close contact and good public relations with the financial world. But most...
...Corporation liked the idea and in the fall, Harvard announced that it would establish the Harvard Management Co. to take over $1 billion of the $1.4 billion endowment on July 1. Putnam's next job was to find someone to head the new company and to locate office space in Boston's financial district...
...February, Putnam announced that Walter M. Cabot '55 would become Harvard Management's first president on April 1. With that announcement and the locating of physical space for the company at 70 Federal St., Putnam's direct role in the company's affairs ended...
...that time, changes from the previous era of State Street Research and Management Co. began to surface. Bok, Putnam and Cabot--who is the nephew of former treasurer Paul C. Cabot '21--are part of a new generation in Harvard financial affairs. As such they are now more daring and interested in innovation than their predecessors at State Street. When Cabot was named, it became apparent that the younger generation was preparing to embark on some bold new ideas for financial management...