bowdoin college chief investment officer
This support includes enabling expanded access, subsidizing tuition for every student, paying for the best teachers and facilities, creating knowledge and supporting basic operations. 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. "The College's endowment is invested across a range of asset classes in global markets. If youre interested, send me your resume. Erim began his current role at the RGA as Chief Financial Officer in August 2017. This positions the College very well to continue our focus on supporting every student in need who has earned a spot at Bowdoin and to fund other important initiatives at the College.. Investment . Corner Office. According to the Associated Press, Gwen Lexow, Bates director of Title IX and civil rights compliance, wrote in an email to students that said she heard members of the Bates community expressing deep concern about the impact of the language contained in the flyers and graffiti, particularly on Jewish members of our campus community. Im going to stay very much involved with the College when I leave.. and Secretary to the Board of Trustees. 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. Net Assets. 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. 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). This is probably deferred comp which was accrued over several years and finally disbursed per his contract. 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.". 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.. The IRS requires a certain degree of granularity and, in most cases, we see items for base salary, bonus, other, and total. WE'RE NOT ALONG: The investment office now has a satellite office in NYC. 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. The Office of Investments manages the combined Purdue Investment Pool (PIP) and the Purdue Investment Pool Cash (PIPC). CHIEF INVESTMENT OFFICER IS OPTIMIZED FOR. Original content includes profiles and interviews with industry veterans and research on compensation and investment performance. Chief investment officer pay at 74 top endowments; Skorina seeks a chief investment officer; Vickie Fuller: The after-life of a CIO; . 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. The judge sided with the Freep, but the university argued that they had legitimate reasons for keeping them private. 520-529-5677 He holds degrees from Bowdoin College, University of St. Andrews, and University of Connecticut School of Law. His new employer gave him a $1.8 million mortgage loan at (presumably) a very nice interest rate. Bowdoin has established a second investment office in New York City, College officials confirmed this week. Olympian Joan Benoit Samuelson 79 Reflects on Championship, Mental Health, and Balance. In a 2007 article published in The Williams Record, Chilton cited greater access to investors as the principal reason for the move. In the overarching sense, however, Volents career trajectory will always be of special relevance to Bowdoin. 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. 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 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. Before submitting a comment, please review our comment policy. I am excited to lead this effort and deepen the College's investment capabilities with an eye on the long term." Bryn Mawr's endowment market value was $888 million at the end of the 2018-19 fiscal year, and net assets of the College were $1.08 billion. Volent will join the biomedical research institution this summer from Bowdoin College, where she led the $2 billion endowment for the past two decades. But in big-time academia, CEO pay often trails the CIO and probably the football and basketball coaches as well. For example, because we are CIO-centric rather than school-centric, we report AUM for UTIMCO endowments as a whole and dont distinguish between U. of Texas and Texas A&M since the endowments are mostly handled as a single pool under a single CIO who earns a single paycheck. Before embarking on her career in investment management, Volent worked as an art conservator specializing in the conservation of art on paper. The Investment Office serves Wellesley College's missionto provide an excellent liberal arts education for women who will make a difference in the worldthrough the management and oversight of key College financial assets and benefit plans. EDUCATION: Brandeis University, Bowdoin College. "Our team, led by Senior Vice President and Chief Investment Officer Niles Bryant . Liked by Aiden MacNeil Executives Listed on Filing. The official University of Michigan salary-disclosure listing (page 447) for 2017 showed CIO Erik Lundbergs total comp as $720,000. Bowdoin College has promoted K. Niles Bryant to be the new CIO of its $1.8 billion endowment, effective July 1. New Bowdoin Podcast to Tackle Issues of Democracy. 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. Wilshire Lays Out a Broader Asset Allocation, Kentucky Retirement System Trustees Say It Is Not Subject to State's Anti-ESG Law, Ohio State Pension Approves New Asset Allocation. Financial services and technology are . 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. She is also a council member at the Maine Coast Heritage Trust and a financial advisory committee member at the American Institute for Conservation. Her 5-year return as of FY2017 was the highest of any major endowment at 11.9 percent. After Over 20 Years at Bowdoin, CIO Paula Volent Is Bowing Out, This content is from: Niles Bryant Senior Vice President and Chief Investment Officer. 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. 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. She exceeded even her mentor, the esteemed David Swensen, who was a close second with 11.7 percent. Niles has over 20 years of experience in the investment industry. He will succeed Paula Volent, who announced in February that she intends to step down in June after more than twenty years in the position. In calendar year 2009the . Although Volent did not disclose the distribution of her time between the two offices, she confirmed that she will work out of both. Mills previously served as the deputy presiding partner of Debevoise . No credit card required. (In three volumes) Volume I. But, obviously, we could only report pay for CY2015 if the CIO had held the same job in that prior period. And experience with manager search and selection in opportunistic credit is highly desirable. Corner Office. 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.". Paula Volent. 2 Andrews Road. 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. . Investment Officer - Sourcing and structured investments in Albania . 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. $1,200,798. However, Volents path to Brunswick wasnt through finance at all. On July 1, Paula Volent, Bowdoin's chief investments officer, will be stepping down from her position after more than two decades of service to the College. 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." Chief Investment Officer Bowdoin College Jul 2021 . A statement sent to the Orient did not disclose the date of the opening, though a February 22 article published on the website of Foundation and Endowment Intelligence suggests that it occurred earlier this year. Retained Executive Search 207-786-6103. mhussey@bates.edu. 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. Is Yales Endowment the New Tiger Management? As a member of the Bowdoin Museum of Arts advisory board and an emeritus senior vice president, Volent will maintain the relationship with the College that she has remained committed to for over two decades. During her time at Bowdoin, Volent has cemented her reputation as one of the nations preeminent college investments managers, outperforming every other college endowment over that span. Each issue explores how the worlds most accomplished asset managers think and invest. 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 . You've seen his Stanford commencement speech, of course. If you have a friend or colleague who might be suitable, please spread the word. Then, at the end of July, the publicly-listed Williams Companies (NYSE: WMB) announced her appointment to their board. 5700 College Station (207) . Company Website. Other, non-W2 items benefitting the CIO are often reported to the IRS (and are sometimes substantial) but we omit them for our purposes. NYU's Endowment Fund provides a permanent source of capital to support the University's mission and programs. The Investment Associate will participate in Investment Committee meetings and may have an opportunity to formally present in a group setting. And, even when public-school CIO comp is published, it cant always be trusted. Institutional investors operate at the crossroads of capital . In this section. The Lewiston Police Department (LPD) has referred graffiti written in chalk on the campus of Bates College to the Maine attorney general, who is investigating the case as a possible hate crime. BOWDOIN MAGAZINE (ISSN: 0895-2604) is published three times a year by Bowdoin College, 4104 College Station, Brunswick, Maine, 04011. Ernst & Young Systems and process consulting CIO compensation is primarily a function of AUM. Read Bio Covid-19 Response Team. Her portfolio even . 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. Endowments Should Abandon Alts for Passive Investments, Report Says. 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. 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. Bryant will succeed Paula Volent, who will step down at the end of June after more than 20 years on the job. (latest available public filings), California Institute of Technology (Caltech), * Rob Wallace, Stanford, start date July 2015. And, we see no reason why we shouldnt share some of that bounty with our readers. 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 . We should also mention that we used a $1 billion AUM lower bound for this list. In a field still dominated by men, she has been nationally recognized for her standout success. Bowdoin College is pleased to announce that in-person events will be back this fall and the College looks forward to welcoming alumni, families, and friends for some of our most popular events and activities. . Even with a satellite office in New York, the investment office in Brunswick "will continue to be the principal office," wrote Volent. Thats about standard for a company of this size in this industry. Summer research assistant in the Department of Botany at the National Museum of Natural History. They develop both short-term and long-term investment plans, recommend investments and oversee a team of staff-members who are responsible for monitoring pensions, managing assets and . Back Submit. In March 2021, Paula Volent is about to step down as the CIO of the endowment of Bowdoin College after twenty-one years, and is preparing to meet with her successor, Niels Bryant, to plan for the . Ms. Fuller, prudently, chose not to dignify these charges with any public comment. Published October 05, 2022 by Bowdoin College. 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. Work. 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. He almost certainly makes more. 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. Join to view profile . Any comments made with an email address that does not belong to you will get removed. Bowdoin College. In addition to running her own conservation business, she served stints with the National Gallery of Art in Washington, D.C., the Los Angeles County Museum of Art, the Palace of Fine Arts in San Francisco, and the New-York Historical Society, among other organizations. Conn. Williams hired Collette Chilton as its chief investment officer in 2006 and opened the Boston office shortly after. In opening the office, Bowdoin joins a group of colleges and universities that have moved their offices closer to financial centers. 5700 College Station (207) 725-3221. 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. But, we feel no such constraint. 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. Matthew P. Orlando of Brunswick has been promoted to the position of senior vice president for finance and administration at Bowdoin . The latest discoveries delivered straight to your inbox. 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 . Thirty-seven years ago, on Aug. 5, 1984, Joan Benoit Samuelson won the first-ever women's Olympic marathon.