Culver Academies, 6080 N. Sabino Shadow Lane | Tucson, AZ 85750 | 520-529-5677, Jane Dietze, promoted to CIO at Brown University, Compensation and chief investment officers, New York Pension Chief Cashes in on Natural Gas, Ex-pension chiefs cushy gas company gig raises eyebrows, Estimated Compensation for Six-Person Family Office. In calendar year 2009the . Mike Hussey joined Bates in 2012 and oversees or supports a variety of institutional projects on behalf of the President. It would be highly misleading to ascribe that comp to Mr. Narvekar, so we didnt. COVID-19 Testing and Response Team Specialist. . With the Tokyo 2020 marathon days away, we caught up with her to reflect on a few matters running-, and non-running, related. New Bowdoin Podcast to Tackle Issues of Democracy. Its all possible thanks to funding secured by the McKeen Center and the Office of Career Exploration and Development. Ernst & Young Systems and process consulting Following a national search process, Jainen "JT" Thayer has been selected to be Grinnell's next chief investment officer (CIO). Paula Volent '97 will be the next chief investment officer of Rockefeller University, with responsibility for managing its $2.5 billion endowment, the New York City research university announced. 2 Andrews Road. 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. in 2008 and earned his J.D. skorina@charlesskorina.com Charles Skorina & Co. is the exclusive search agent for this position. This content is from: Matthew G. Bibbens '92. On August 15, Volent will be moving on to her new role as chief investments officer at Rockefeller University, a graduate research institution in New York City. He then went on to earn a PhD in biology at Syracuse University in 1976 and a JD from Columbia University in 1979, where he was a Harlan Fiske Stone Scholar. 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. He will begin work in mid-September, following his relocation from New York City. DeGraff earned her master's and doctorate . Bowdoin College has promoted K. Niles Bryant to be the new CIO of its $1.8 billion endowment, effective July 1. The Investment Associate will participate in Investment Committee meetings and may have an opportunity to formally present in a group setting. Volent joins Rockefeller after two decades as chief investment officer for Bowdoin College, where she oversaw an endowment that grew from $465 million to $1.8 billion during her tenure. 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. Bowdoin College's endowment return of 14.4 percent -- the best among schools so far this year -- was fueled by a portfolio built around top-performing private equity and hedge funds, said . And items in the other column are not always explicable. 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]. 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.". We should also mention that we used a $1 billion AUM lower bound for this list. The most obvious one here is Paula Volent at Bowdoin College. The investment portfolios for the endowments of the Massachusetts Institute of Technology and Bowdoin College lost 5.3% and 7.1%, respectively, in 2022, as volatile markets and rising rates have caused nearly every endowment to report investment losses for the fiscal year ending June 30. Salary ranges can vary widely depending on many important factors, including education , certifications, additional skills, the number of years you have spent in your profession. 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. Bowdoins endowment was valued at nearly $2.5 billion at the close of the fiscal year, including approximately $33 million in gifts and other transfers that were added to the endowment. Paula had opportunities to do all kinds of things over many yearsto go to other placesand she stayed here because she loves Bowdoin, Rose said. New York Law Journal. Associate VP and Chief Investment Officer. Tucson, AZ 85750 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. In opening the office, Bowdoin joins a group of colleges and universities that have moved their offices closer to financial centers. As senior vice president and chief investment officer, Bryant will be a member of Bowdoins senior leadership team, reporting to the president. The portfolio she has built is truly one of a kind and her devotion to Bowdoins success in unmatched.. Any comments made with an email address that does not belong to you will get removed. In 2006, we hired Collette Chilton to the new position of Chief Investment Officer. CIO; PLANADVISER; PLANSPONSOR; 702 King Farm Boulevard, Suite 400, Rockville . Lane Hall, Room 214C. The stewardship of these resources includes the investment of the endowment and other financial . Early life and education. Bowdoin College has earned a 100% for the Accountability & Finance beacon. Read our full privacy policy for more. At the time, endowments for little schools like Bowdoin didnt have any alternatives [to invest in] like private equity or venture capital. Bloomberg. Office of the President. 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. Bowdoin also offers internships to students every summer in the Brunswick investment office; it is not known whether these internships will be available in New York. Search Bowdoin College Search. Of the total endowment distribution in 20212022, approximately $38 million supported financial aid, accounting for approximately three quarters of Bowdoins $51 million financial aid budget. (Compensation as of calendar year-end 2015. Illuminating the evolution of social parasite ants, Emil C. Gotschlich, creator of lifesaving vaccines, has died, Homing in on the genetics of severe COVID in children. We need a senior investment officer with experience at a top-tier asset owner such as an insurer, health system, endowment, foundation, pension fund, family office, or institutional asset manager. Stanley Druckenmiller 75, the chair of Bowdoins Investment Committee, said, Niles will do an outstanding job as our next CIO, and I look forward to working with him., Niles is uniquely positioned for this leadership position at Bowdoin, said outgoing Chief Investment Officer Paula Volent. Investment Officer - Sourcing and structured investments in Albania . - Conducted research . In our chart below, we can only offer the bare numbers. In calendar year 2009the most recent for which data is availableshe was Bowdoin's highest paid employee, with a compensation package worth $772,873. Bowdoin College names new CIO. He started in April as director of investments. John Lawler is chief financial officer at Ford Motor Company and has overall responsibility of finance functions including Accounting, Financial Planning and Analysis, Treasury, Tax, Investor Relations, Economics and Audit as well as the Ford Credit business. Gregg Abella is CEO and Portfolio Manager at Investment Partners Asset Management. June 07, 2018. Paula is unquestionably one of the most accomplished investment officers in the country, and we are thrilled that she has agreed to join us in this vital role, says Richard P. Lifton, Rockefellers president. Niles Bryant Senior Vice President and Chief Investment Officer. By RebeccaNorden-Bright • May 14, 2021. Joshua Lawrence Chamberlain 1852, Bowdoin College professor (1855-62), Civil War brigadier general, Medal of Honor recipient, Maine governor (1867-71), and president of Bowdoin College (1871-83) Michael J. Connor 1980, USN Vice Admiral, Commander, Submarine Forces (2012-2015) Abraham Eustis 1806 (M.A. But they may get significant other items to round up their total. Bowdoin College - Mid-career pay: $135,900 . More From Investment Office. Volent has an M.B.A. from the Yale School of Management, an M.A. 6.0. . 520-529-5677 The financial press has called Volent one of the savviest investors in the non-profit world and a pioneer in a male-dominated field. In 2020, Volent was included in Barrons list of 100 Most Influential Women in US Finance., Beth Kowitt 07 Wins New York Press Club Award, Alex Marzano-Lesnevich and a Double Dose of Joy and Empowerment in Two New York Times Pieces, Its perhaps a sign of the times that Alex Marzano-Lesnevich has been, Purnell Tells "Brooklyn Resists" Story in Outdoor Installation, On June 19, Juneteenth, the holiday celebrating the emancipation of those who had been enslaved in this country, the outdoor installation, Do Big Bucks Bring Big Rewards? Without that, wed be in a very different place now with regards to access.. In a field still dominated by men, she has been nationally recognized for her standout success. She serves on a number of boards and investment committees including those of the National Gallery of Art, the Yale School of Management, The Rockefeller Foundation, the National Womens History Museum, Girls Who Invest, and MSCI. He will oversee the management of the Brunswick, Maine, college's $1 . Read Bio Covid-19 Response Team. An outrage outfit called (appropriately) Sludge, with some like-minded media allies, produced a hit-piece which they called New York Pension Chief Cashes in on Natural Gas. His typical pay is less than half the total shown for CY2015. I have known Paula for my entire investing career and have always admired her investment judgment, passion for markets, and dedication to Bowdoin, noted Bryant. Here I was, an art person, Volent said. Endowments Should Abandon Alts for Passive Investments, Report Says. Chief. Following the U.S. Department of States (DOS) decision to merge its travel advisories with those set by the Centers for Disease Control and Prevention (CDC), these students were notified during the first round of course registration that, if they were traveling to a country that the DOS had just categorized as Level 4, they were strongly encouraged to withdraw from their prospective study abroad status with Bowdoin and register for courses. When I leave Bowdoin, Im leaving the endowment position after 21 years, and if you count the museum its 25 years, Volent said. Mr. Phillips is an effective and well-credentialed CIO and Rochester, understandably, wants to fend off offers from other, bigger schools. Chief Investment Officers vs. University Presidents. who was hired by Bowdoin in 2000, oversees the College's $904 million endowment. In the corporate world, the CEO almost always commands the big bucks. Copyright 2023 Asset International, Inc. All Rights Reserved. 1K followers 500+ connections. Vice President for Institutional Affairs. K. Niles Bryant was named senior vice president and chief investment officer at Bowdoin College. The New York office will ostensibly aid Volent's management of the endowment in several ways. The average grant for all aided studentsfunds that do not have to be paid backis approximately $56,000 a year. Paula Volent, chief investment officer at Bowdoin College, will step down June 30. Many details about the office remain unknown: Volent did not specify where in New York City the office is located, its physical size, or if there is a possibility that it will become the College's primary office in the future. The endowment provides a permanent source of funding for such purposes as financial aid, faculty chairs, scholarly research and writing, student . President Barry Mills announced last night that he plans to remain at the helm of Bowdoin for at least five more years. 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 . All funds are managed according to the policies established by the Board of the Purdue Research Foundation under the direction of the Investment Committee. Ms. Fuller, prudently, chose not to dignify these charges with any public comment. Paula Volent, senior vice president for investments, wrote in an email to the Orient that the impetus for opening the office was "to attract and retain experienced professional talent for the oversight of Bowdoin's endowment portfolio.". from the University of New Hampshire. If youre interested, send me your resume. But over 5 years Bowdoin beat him by 170 basis points! 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. But its been like pulling teeth in many places. "It has been a great honor to oversee Bowdoin's endowment," said Volent. All rights reserved. Thayer comes to Grinnell from the Oberlin College Investment Office in New York City, where he served as CIO. Well-known alumni include John L. Flannery, who in 2017 was named chairman and chief executive officer of . Im going to stay very much involved with the College when I leave.. Institutional investors operate at the crossroads of capital, talent, and ideas, shepherding over seventy trillion dollars in global assets. Ohio STRS Loses 9.52% in 2022, Board Rejects Neville Vote of Confidence, Stocks, BondsHah! University of Chicago, MBA, Finance The item War Department annual reports, 1917. Our chart shows W2 earnings only, paid in calendar year 2015 and taxable to the CIO. We pointed out in our letter that she appeared to be underpaid compared to (male, white) CIOs running comparably big public pensions. Lewiston, Maine 04240. Senior Staff. [II Deep Dive:The Endowment Location Conundrum]. Matthew P. Orlando of Brunswick has been promoted to the position of senior vice president for finance and administration at Bowdoin . 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.. 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. A first-generation college student herself, Volent earned her undergraduate degree in art history on a scholarship from the University of New Hampshire, a passion that turned into a full-fledged career before investing was ever on her radar. 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. 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. 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. 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 . Michael S. Hussey. "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.". In 2020, Volent was named one of the top 100 Most Influential Women in U.S. Finance by Barrons. I think that I am a better investor for my background in the liberal arts, Volent said. Endowment. As Mills told the story, an opponent said to him mid-swing, "I would never support Bowdoinyou are a ridiculous liberal school that brings all the wrong students to campus for all the wrong reasons." Four Bowdoin students are working in municipal government this summer in the nearby town of Topsham. Tulsa-based Williams processes and transports natural gas, so what followed was annoying but predictable. 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. Having that background in art history and art conservatorship and coming at the world with a broad understanding of the issues the worlds facing [is so important]. Fortress Investment Group . In this section. About . Data Engineer @ Recorded Future Individual Tutor @ Bowdoin College Information Technology Technician @ Bowdoin College see more Bryant will succeed Paula Volent, who will step down at the end of June after more than 20 years on the job. Retained Executive Search Zorina Khan on the Role of Prizes in Driving Innovation, Professor of Economics Zorina Khan shares her expertise and insights into the realms of economic history and technological progress with. ), officer during the War of 1812 Our insights and commentary come from our clients board members, CEOs, chief investment officers and the global investment community within which we work as executive search professionals. She announced in February that she would be stepping down as senior vice president and chief investment officer at the college on June 30. . Paula Volent, Bowdoin College's chief investment officer, announced she will leave her post June 30, 2021, at the end of the current academic year, to pursue the next chapter in what has been a varied and tremendously successful career at the College. 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. Over the past two decades, Volent has overseen a level of endowment growth unrivaled by any other institution in the country. Bowdoin only recently broke into the billion-plus club, but Ms. Volent a Yale Investment Office alumna has been consistently over-performing for years. She worked as a senior associate at the Yale investments office, according to her biography on the website for theNational Womens History Museum, where Volent serves as a board member.