Nearly half of the endowment is permanently restricted by donors to the support of student financial aid. Mike Hussey joined Bates in 2012 and oversees or supports a variety of institutional projects on behalf of the President. Year in and year out, working with her team and the investment committee, Paula has produced consistently outstanding investment returns, outpacing virtually every other college and university endowment in the nation over the short, medium, and long term, Bowdoin College president Clayton Rose said in a statement. Jun 2018 - Aug 20183 months. Smith, who has served as the university's co-chief investment officer ad interim since March 2020, was chosen following an extensive national search. Can an 'Agreement to Agree' Support Expectation Damages? The speech was well-received, and the school year proceeded. 30. President Kim Cassidy and the Board of Trustees deserve credit for that bold vision. Accordingly, we wanted to list only CIOs who were the managers-of-record for that period so that pay could be usefully compared to performance. Chief Investment Officer at Bowdoin College New York, New York, United States. Druckenmiller Says Alternatives Fueled Bowdoin's 14.4% Gain Were convoluted, but were consistent. From 2004 to 2008, Bryant was associate director of investments at the Carnegie Corporation of New York, one of the nations oldest private foundations, where he worked with Chief Investments Officer D. Ellen Shuman, a member of the Bowdoin Class of 1976. It would be highly misleading to ascribe that comp to Mr. Narvekar, so we didnt. Volent previously worked for Yale University CIO David Swensen and managed Bowdoins endowment alongside billionaire investor and Bowdoin College Investment Committee Chair Stan Druckenmiller, an alumnus of the college. Other distributions restricted by donors are used to support professorships and instruction, lectureships, museums, the library and book purchases, and technology. It has been a great honor to oversee Bowdoins endowment, said Volent. Chief Investment Officer (CIO): Overview of Executive Role - Investopedia Bowdoin College's long-time chief investment officer Paula Volent is stepping down. NYU's Endowment Fund provides a permanent source of capital to support the University's mission and programs. (Barker) Bordo. Vice President for Institutional Affairs. Copyright 2023 Asset International, Inc. All Rights Reserved. Four Bowdoin students are working in municipal government this summer in the nearby town of Topsham. This content is from:
Ernst & Young Systems and process consulting Lyndbergh Simelus email address & phone number | Recorded Future Data In 2015 Paula Volent, Bowdoin College's chief investment officer, managed a hefty 14.4% return on the Maine liberal arts college's then- $1.4 billion endowment. The contracts at the larger endowments are often custom-crafted in negotiations between employer and employee, and no two are exactly the same. Financial services and technology are . from the University of New Hampshire. In the aftermath of the January 6 attack on the Capitol, the College is presenting a series of discussions with leading experts on the current state and futu. The endowment provides a permanent source of funding for such purposes as financial aid, faculty chairs, scholarly research and writing, student . Read Bio . For all of those things that we understand to be the liberal arts and the power of it, shes demonstrated that you can have success in one area and then have the capabilities, the skills, the underlying education to be able to pivot and then have success in another.. As an extra, added bonus for those who have read this far, lets take a quick look at CIO vs. presidential pay at a few major schools. Harold Alfond Foundation Board of Trustees Middlebury Institute of International Studies at Monterey This support includes enabling expanded access, subsidizing tuition for every student, paying for the best teachers and facilities, creating knowledge and supporting basic operations. Were not going to do any deep mathematical analysis here, but certain patterns are pretty obvious. Download pdf of bio. But its been like pulling teeth in many places. She will leave Bowdoin having brought the value of the endowment to $1.8 billion as of the end of the last fiscal year, 387 percent growth from when she started. Total Salary includes financial earnings, benefits, and all related organization earnings listed on tax filing. Bowdoins investment return, while negative, compares favorably with equity and bond markets, which registered losses in the double digits over this very challenging period, said Bowdoin President Clayton Rose. Paula Volent, a leading investment manager who oversaw Bowdoin College's $2 billion endowment for two decades, has been named Rockefeller's next vice president and chief investment officer. In the early 2000s, as Williams' endowment rose above the $1 billion mark, we knew our increasingly complex portfolio and expanding group of outside investment managers would eventually require full-time professional oversight. Thats about standard for a company of this size in this industry. Despite the courts ruling, we believe disclosure of the Incentive Plan will put U-M at a competitive disadvantage, a school spokesman said. The corresponding data for most public schools is often fresher, but its scattered among various and often quirky databases in various jurisdictions with various disclosure rules. Total comp: considerably more than 990 filing, Some observations and a quick look at CIO vs. presidential pay, We mostly follow the industry-standard AUMs reported to NACUBO, but we depart from them in a few cases. The Foundation and Endowment Intelligence article, citing an unnamed source, said that the College "plans to relocate the investment staffsometime in the next few months." [II Deep Dive:The Endowment Location Conundrum]. No credit card required. Starting right in the middle of the dot-com bubble, Volents first task was damage control; she managed to hold losses to just $15 million of the endowments $465 million valuation when she first came on board. List of Bowdoin College people - Wikipedia And experience with manager search and selection in opportunistic credit is highly desirable. A native of Warwick, Rhode Island, Mills graduated cum laude with a double major in biochemistry and government from Bowdoin College in 1972. Conn. Williams hired Collette Chilton as its chief investment officer in 2006 and opened the Boston office shortly after. Craig W. Smith, a highly experienced and respected investment professional in the institutional investment industry, has been named chief investment officer of Tufts University. Investment Office Bowdoin College Names K. Niles Bryant CIO, Massachusetts Pension Fund Increases Corporate Diversity Standards. She exceeded even her mentor, the esteemed David Swensen, who was a close second with 11.7 percent. (latest available public filings), California Institute of Technology (Caltech), * Rob Wallace, Stanford, start date July 2015. Bowdoin didnt actually have an investments person [before me], so I came to Bowdoin working as the associate treasurer, Volent said. Upon graduating, he soon began working at the law firm, Debevoise . Forty-nine percent of Bowdoins first-year class receives need-based financial aid, a percentage that continues to grow. Volent brings extensive experience from her two decades at Bowdoin and her previous role as a research analyst and senior associate in the Yale University investment office from 1996 to 2000. BOWDOIN COLLEGE BRUNSWICK, ME 04011-8445 | Tax-exempt since June 1935. Read Bio Covid-19 Response Team. With the Tokyo 2020 marathon days away, we caught up with her to reflect on a few matters running-, and non-running, related. He started in April as director of investments. In Roses eyes, Volents loyalty to Bowdoin in the face of far more flashy and lucrative competing job offers over the past two decades most clearly capture her commitment to and love for the College, and this in itself is deserving of gratitude. Rather, it was the Walker Art Museum that housed her first office at the CollegeVolents first career was as a distinguished art historian and conservator, and her first job out of college was in Bowdoins museum, not its treasury. In opening the office, Bowdoin joins a group of colleges and universities that have moved their offices closer to financial centers. Orlando named chief financial officer at Bowdoin College Niles Bryant is the SVP and Chief Investment Officer at Bowdoin College. Its a really special place, and its evolved a lotthere [are] lots of new buildings and all that, but I think the whole feeling that were a community and a home is very much alive, and I treasure that. Bowdoin College - Nonprofit Explorer - ProPublica Our Trustees - Our Leadership - Knox College Satellite investment office established in New York City The Bowdoin Join our social media network for updates from our campus and our labs. Original content includes profiles and interviews with industry veterans and research on compensation and investment performance. Alice A. Ruth '83 (Photo courtesy of Alice A. Ruth '83) Highly regarded and experienced investment manager Alice A. Ruth '83 has been named Dartmouth's chief investment officer, the College announced today. She is also a council member at the Maine Coast Heritage Trust and a financial advisory committee member at the American Institute for Conservation. K. Niles Bryant will become the next senior vice president and chief investment officer at Bowdoin College, where he will be responsible for managing the College's $1.8 billion (as of June 30, 2020) endowment, the largest portion of which is permanently restricted to the support of student financial aid. WALDOBORO Jean Meredith (Bordo) Lawrence, 83, of Waldoboro, passed away peacefully on Monday, February 27, 2023. Volent went back for her Masters degree in art conservatorship at NYU and then went west, working at the L.A. County Museum of Art and San Franciscos Palace of Fine Arts as a paper conservator before starting her own private art conservation business outside of Los Angeles. Although the gross number had become public, the Detroit Free Press still sued the University to obtain details about how it was calculated. Jean's life was one of great love and devotion for her husband, David, with whom she was . Chief Investment Officer Brown University . Bloomberg. Patricia Ribeiro Promoted to Co-CIO of Global Growth Equity at American Century Investments. In the corporate world, the CEO almost always commands the big bucks. Led by Chief Investment Officer Mauricia Geissler and operating under the guidance of Amherst's Investment Committee, the Amherst College Investment Office is . WE'RE NOT ALONG: The investment office now has a satellite office in NYC. Mills added that his interlocutor aggressively opined that he would support neither Bowdoin nor his own alma mater "because of all your misplaced and misguided diversity efforts.". MIT, Bowdoin Endowments Lose 5.3%, 7.1% in Fiscal 2022 | Chief Updates on the University COVID-19 response and operations available, Clinical Research and the Rockefeller University Hospital, Chemers Neustein Summer Undergraduate Research Fellowship Program, Campaign for the Convergence of Science and Medicine, Experience Science, the Arts, and Culture, Meet the scientific leaders who are changing medicine, Peek inside our 71 biomedical laboratories, Learn more about our flexible, supportive academic programs, Learn about the breakthroughs happening every day, Hear from the worlds leading speakers and thinkers, Weve spent 122 years perfecting the bioscience institute. Chief Investment Officers are high-level executives in charge of managing their organization's investment portfolios. Michael S. Hussey. Prior to his work in the field of investments, Bryant was an associate at the New York City law firms of Dewey Ballantine and Winston & Strawn. A member of the company's Senior Leadership Team, he leads the Finance and Risk function responsible for the company's financial management and planning, budgeting, actuarial, investment risk and operations, enterprise risk management and resiliency. Bowdoin College Names K. Niles Bryant CIO | Chief Investment Officer Gregg Abella, AIF - Chief Executive Officer - Investment Partners Nevertheless, the losses didn't make a dent in last . Ammon, Peter H. U of Pennsylvania. Well-known alumni include John L. Flannery, who in 2017 was named chairman and chief executive officer of . He holds degrees from Bowdoin College, University of St. Andrews, and University of Connecticut School of Law. A direct Mayflower descendant of Richard Warren, Jean was born on March 28, 1939, to parents Frank N. and Harriet O. Bowdoins endowment consists of more than 1,700 individual funds earmarked for the perpetual support of a variety of College initiatives. Corner Office. 3.3.2023. Shell be making something like $340 thousand (the average director comp in cash and stock in 2017) for serving on two key committees (audit, and governance) on the relatively small board of a big, complex company. Here are our top-ten highest paid endowment chief investment officers for calendar year-end 2015 compared to the pay of their respective presidents in the same period. Bowdoin College Non Profit Data About half the schools in the $500 million $1 billion range also have a dedicated CIO or equivalent, but they are omitted here, however well paid they may have been. Compensation and chief investment officers - Charles Skorina & Company