bowdoin college chief investment officer

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. Mike Hussey joined Bates in 2012 and oversees or supports a variety of institutional projects on behalf of the President. As of June 30, 2020, the three-, five-, and ten-year annualized returns for Bowdoins endowment were 10.7 percent, 8.5 percent, and 11.6 percent, respectivelyall in the top fifth percentile among comparative college and university annualized returns, where the respective median returns were 5.2 percent, 5.0 percent, and 7.4 percent. When she first started in 2000, the investments office position was barely recognizable from its current incarnationin fact, it was largely a one-woman job. 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. Summer research assistant in the Department of Botany at the National Museum of Natural History. Liked by Aiden MacNeil Her portfolio even . Here are their stories. A source with knowledge of the decision, who asked to remain anonymous because they were not authorized to discuss the office, said that attracting talented financial professionals to Brunswick had been difficult, as the majority of them make their careers in New York. The two-year lag in comp reporting is annoying, although we get to blame the IRS. $1,249,740. K. Niles Bryant was named senior vice president and chief investment officer at Bowdoin College. $1,981,536,000. 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. CIO editor Christine Giordano said, "We were very impressed by all that she has been able to accomplish in such a short amount of time.". All rights reserved. VICE PRESIDENT FOR ACADEMIC AFFAIRS. 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. Curtis Leitner and Joseph Scholz discuss the use of preliminary agreements under New York law, analyzing relevant case law and explaining the implications for contracting parties. The Investment Office team and the Institute's Board of Trustee Investment Committee's goal is to provide increased support for the Institute's academic and research programs . Paula Volent was named vice president and chief investment officer of The Rockefeller University, New York, where she will oversee the management of its $2.3 billion endowment. Aerial views of campus with pops of brilliant fall color, thanks to local drone photographer Glenn Michaels. Niles has over 20 years of experience in the investment industry. Williams' endowment is the largest of any liberal arts college in the country,but Williamstown, Mass., like Brunswick, is not a hotbed of financial activity. The portfolio is structured with a long-term time horizon, with portfolio diversification and manager selection directed toward protecting endowment capital in challenging investment environments, while growing those assets during periods of economic stability and growth. 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. 30. Here I was, an art person, Volent said. New Bowdoin Podcast to Tackle Issues of Democracy. Office of the President. This kind of bennie has long been typical for school presidents, but its becoming more common for senior administrators. If you have a good one (and Mr. Lundberg is very good), theres always anxiety that someone with deeper pockets will whisk him or her away. This relationship does not necessarily hold at smaller schools, but its pretty consistently true at the biggest ones. CHARLES A. SKORINA & COMPANY works with leaders of Endowments, Foundations, and Institutional Asset Managers to recruit Board Members, Executives Officers, Chief Investment Officers and Fund Managers. Although the gross number had become public, the Detroit Free Press still sued the University to obtain details about how it was calculated. It was echoed by the New York Post, with: Ex-pension chiefs cushy gas company gig raises eyebrows. And experience with manager search and selection in opportunistic credit is highly desirable. Bowdoin ranks only 69th by AUM (FY2017), but 10th by CIO compensation in 2015. Over the course of Volents tenure, the endowment has grown from just over $465 million in the summer of 2000 to $1.8 billion as of June 30, 2020, according to Bowdoins announcement. Paula will help ensure that we continue to have the resources needed to fuel the world-leading research of our 70 heads of laboratory in pursuit of our mission, Science for the benefit of humanity., I have long admired the dedication and focus of the entire Rockefeller University community on conducting ambitious science that expands our knowledge of the world and has a positive impact on society, says Volent. A Bird's-Eye View of Fall Color on Campus. As a member of Bowdoins senior leadership team, Bryant will report to Rose. 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. Paula is a proven leader not only in terms of producing investment results but also as a mission-driven member of the senior executive team.. We should also mention that we used a $1 billion AUM lower bound for this list. In our chart below, we can only offer the bare numbers. A Bowdoin spokesperson declined to comment on where Volent is headed next or who her replacement will be. Tulsa-based Williams processes and transports natural gas, so what followed was annoying but predictable. Bowdoin College Apr 2012 - Nov 2013 1 year 8 months. Rockefeller's endowment, valued at $2.5 billion, is a crucial source of revenue for the university, contributing nearly The average grant for all aided studentsfunds that do not have to be paid backis approximately $56,000 a year. As of June 30, the endowment had returned 10.7 percent over the last three years, 8.5 percent over five years, and 11.6 percent over ten years, according to an Octoberannouncement from the college. Charles Skorina & Co. is the exclusive search agent for this position. COVID-19 Testing and Response Team Specialist. Im eager to join that community of scientists, students, postdocs, administrators, staff, and trustees and, in my new role, to contribute to the universitys culture of sustained excellence by working to assure the strength of its financial underpinnings.. If youre interested, send me your resume. Bowdoin College names new CIO. General Manager Roberts 032 207-859-5464 [email protected] Colby College 4000 Mayflower Hill Waterville, ME 04901 207-859-4000. Bowdoin's investment team is collaborative, research oriented, and performance driven. Williams and Dartmouth's investment offices are based in Boston while Tulane's office is located in Darien, Conn. Williams hired Collette Chilton as its chief investment officer in 2006 and opened the Boston office shortly after. We pointed out in our letter that she appeared to be underpaid compared to (male, white) CIOs running comparably big public pensions. The New York office will ostensibly aid Volent's management of the endowment in several ways. Presidents get perks like first-class air travel, chauffeurs, club memberships for themselves and their spouses, etc. or (OCIO firm) . Nearly half of the endowment is permanently restricted by donors to the support of student financial aid. Niles then worked as an Associate at Dewey & LeBoeuf LLP from 2000 to 2001. 29. Sometime this past February, a self-proclaimed "doddering alum" of the Class of 1976 joined the elite club of individuals who have clicked the "Ask Us Anything" button on the Orient Express. Led by Chief Investment Officer Mauricia Geissler and operating under the guidance of Amherst's Investment Committee, the Amherst College Investment Office is . Kathleen E. Jacobs , Chief Investment Officer Skip Sidebar. Bryant started their career as an Associate at Winston & Strawn LLP from 1998 to 2000. There are other explanatory factors: relative performance, geography, private vs. public, and even prestige of the school, but they are usually swamped by the size of the fund. President Barry Mills announced last night that he plans to remain at the helm of Bowdoin for at least five more years. Bowdoin College. Michael S. Hussey. For the record, the CIO back in CY2015 was Stephen Blyth who had total comp of $14.8 million (it was both his first and last year). Sheri B. Bronstein '90, Ridgewood, New Jersey, Chief Human Resources Officer, Bank of America (2023), Visiting Committee on Environmental Studies Ryan Connolly '07, Wellesley Hills, MA, First Vice President and Private Wealth Advisor, Morgan Stanley PWM (2026) Charles T. Diamond '12, New York, New York, Deputy Chief of Staff, City of New York, Mayor's Office of Contract Services (2026 . He previously was director of real assets for the Gordon and Betty Moore Foundation for nearly 12 years, and before that was associate director of investments at the Carnegie Corporation of New York for over four years. Most recently, he served on the investments team as director of real assets at the Gordon and Betty Moore Foundation, a Bay Area private foundation with an $8 billion endowment. Some things might look and act a little weird. And we need to give our thanks for that too., By NoahSaperstein • November 11, 2022, By MargaretBoyle • November 16, 2018, By MinaZanganeh and JulianaVandermark • 8 days ago. The school announced Thursday that Volent, who had served as the endowments investment chief since 2000, will leave on June 30, 2021, at the end of the academic year. Location. The Office of Investments manages the combined Purdue Investment Pool (PIP) and the Purdue Investment Pool Cash (PIPC). See the metrics below for more information. No Reproduction Without Prior Authorizations. $1,200,798. Work at the Investment Office centers on selecting and monitoring investment . Todd M. Jones is Executive Vice President, Chief Financial Officer (CFO). I started taking business classes at night at UCLA, and one of my professors said, youre pretty good at thishave you ever thought about going into business school? Volent said in a phone interview with the Orient. Rockefellers endowment provides critical support for the innovative science performed in our laboratories, studies that have set the pace for progress in biomedicine since the institutions founding in 1901. Im sure I speak for my colleagues on the Board and in University leadership when I say how thrilled we are to be able to look forward to a continuation of the highest caliber of leadership with Paula Volent at the helm in the Universitys investment office., I have known Paula for almost twenty years, both professionally and personally, and I am deeply gratified that she will be coming to Rockefeller, says Scott Bessent, chair of the Investment Committee of the Board of Trustees. In calendar year 2009the most recent for which data is availableshe was Bowdoin's highest paid employee, with a compensation package worth $772,873. 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. Governance; Administration; President Clayton Rose; Selected Speeches and Writings; Past Presidents ; Student Office Hours; 255 Maine Street Brunswick . 5700 College Station (207) . Finally, Volents path led her back to Bowdoinbut this time in the treasury rather than the art museum, where she has been ever since. Published October 05, 2022 by Bowdoin College. The endowment portfolio is diversified across different asset classes, including domestic and international equities, fixed income, private equity, venture capital, real estate, and absolute return strategies. Are Defined Benefit Pension Funds Still Useful Recruiting, Retention Tools? 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.". Vice President for Institutional Affairs. Copyright 20042023 The Rockefeller University. Niles Bryant Senior Vice President and Chief Investment Officer. The Bowdoin endowment consists of more than 1,700 individual funds, and, as of June 30, had three-, five-, and 10-year annualized returns of 10.7%, 8.5%, and 11.6%, respectively. Volent has not yet revealed her post-Bowdoin plans other than to say that she will be taking on new challenges. She leaves her post after overseeing the endowments growth from just over $465 million during the summer of 2000 to $1.8 billion as of the end of June. She will assume stewardship of the university's endowment starting August 15. The official University of Michigan salary-disclosure listing (page 447) for 2017 showed CIO Erik Lundbergs total comp as $720,000. You are strongly encouraged to use a real name or identifier ("Class of '92"). 7.7. The chief investment officer (CIO) usually oversees . She did it because of her love for Bowdoin. She will assume stewardship of the universitys endowment starting August 15. 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 Colleges $1.8 billion (as of June 30, 2020) endowment, the largest portion of which is permanently restricted to the support of student financial aid. Weve been skeptical of that number for a while, but the U was eventually prodded into disclosing that Mr. Lundberg actually made $2 million in 2017. Our team, led by Senior Vice President and Chief Investment Officer Niles Bryant with the support and insights of our Investment Committee, did outstanding work to preserve much of the extraordinary gains we earned in the prior year, while generating substantial liquidity. This is a new position with a highly rated, multi-line insurance company located in the greater Philadelphia area. "Many of these managers have offices in New York or make frequent visits to the city, and most members of the College's Investment Committee are based in New York.". According to the Foundation and Endowment Intelligence report, the College is now looking to hire a head of private equity and a head of real assets. . (SVP/CHIEF INVESTMENT OFFICER) $4,170,808: CHRIS PICCIONE (ENDOWMENT CHIEF OPS OFFICER) $501,321: CLAYTON ROSE . Before embarking on her career in investment management, Volent worked as an art conservator specializing in the conservation of art on paper. Were convoluted, but were consistent. Net Assets. The Boston College endowment exists to support the goals and operations of the University over the long term so that current and future students, faculty and staff benefit from investments. He earned an undergraduate degree in classical archaeology at the University of Michigan and a law degree at the Duke University School of Law, as well as an MBA from Dartmouth Colleges Tuck School of Business. 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. Since the investigation was announced on Monday, members of the Bates community have responded to the news of the investigation. The average Community Reinvestment Officer salary in Abbot, ME is $78,226 as of February 27, 2023, but the range typically falls between $55,781 and $98,510. No credit card required. "The College's endowment is invested across a range of asset classes in global markets. This is typical compensation for a manager of an educational endowment the size of Bowdoin's, and it reflects the strong returns Volent has achieved in recent years. She was a hot property as a potential board member and she was brought to Williams by a recruitment firm following a nation-wide search. The College is launching a podcast series, tapping into the reservoir of talent contained in the Bowdoin community. Middlebury Institute of International Studies at Monterey 5 free lookups per month. But they may get significant other items to round up their total. But, we feel no such constraint. Original content includes profiles and interviews with industry veterans and research on compensation and investment performance. What is a Chief Investment Officer? In our last letter we featured Vickie Fuller, retiring CIO of the $200 billion New York State Common Retirement Fund. The Bowdoin College endowment generated an investment return of -7.1 percent for the fiscal year that ended June 30, 2022, a highly volatile period for financial markets that saw the S&P 500 and the NASDAQ lose 10.6 percent and 23.4 percent, respectively. Bowdoin College. And, we highly doubt Ms. Fuller was looking for a cushy job when she accepted an offer from Williams. 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 . Bryants appointment is effective July 1, 2021. Its the same as with conservation[in conservation], we do tons of looking under the microscope, testing, and then you have to have the bravery to do the treatment because youre making a commitment [by doing that].