Retained Executive Search 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.. 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. In calendar year 2009the . Executives Listed on Filing. Corner Office. All funds are managed according to the policies established by the Board of the Purdue Research Foundation under the direction of the Investment Committee. You are strongly encouraged to use a real name or identifier ("Class of '92"). EDUCATION: Brandeis University, Bowdoin College. 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. This case examines modern endowment investment management through the lens of a leadership transition between Chief Investment Officers (CIOs). from the University of New Hampshire. President Barry Mills announced last night that he plans to remain at the helm of Bowdoin for at least five more years. 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. (latest available public filings), California Institute of Technology (Caltech), * Rob Wallace, Stanford, start date July 2015. 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. Volent didnt make her first investment until ten months into her new job, spending close to a year getting familiar with Bowdoins risk profile, the members of the Colleges investments committee and the money managers she would be working with in the future. Bowdoin College Apr 2012 - Nov 2013 1 year 8 months. EIN: 01-0215213; Classification Undergraduate College (4-year) . Her 5-year return as of FY2017 was the highest of any major endowment at 11.9 percent. But, obviously, we could only report pay for CY2015 if the CIO had held the same job in that prior period. 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. Niles Bryant Senior Vice President and Chief Investment Officer. Volent will join the biomedical research institution this summer from Bowdoin College, where she led the $2 billion endowment for the past two decades. Michael S. Hussey. This kind of bennie has long been typical for school presidents, but its becoming more common for senior administrators. Barry Mills is the former president of Bowdoin College, a position he held for 14 years before retiring in 2015, and the former interim chancellor of the University of Massachusetts Boston, where he was credited with stabilizing the university's financial position. Bowdoin College has promoted K. Niles Bryant to be the new CIO of its $1.8 billion endowment, effective July 1. In a field still dominated by men, she has been nationally recognized for her standout success. . Over the past two decades, Volent has overseen a level of endowment growth unrivaled by any other institution in the country. Courtesy of Arthur Cohen Investment Guru In 2015, Paula Volent, the highest paid employee in the NESCAC, earned nearly one million dollars more than the previous year. AUM as of June 30, 2017), COMPENSATION: TOP 74 CHIEF INVESTMENT OFFICERS, Baseline compensation year: December 31, 2015 5700 College Station (207) . Name Title Hours Per Week Total Salary; Paula Volent: SVP/CHIEF INVESTMENT OFFICER: 40: $4,170,808: Chris Piccione: ENDOWMENT CHIEF OPS OFFICER . "The College's endowment is invested across a range of asset classes in global markets. Bryant will succeed Paula Volent, who will step down at the end of June after more than 20 years on the job. WALDOBORO Jean Meredith (Bordo) Lawrence, 83, of Waldoboro, passed away peacefully on Monday, February 27, 2023. 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. 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]. She announced in February that she would be stepping down as senior vice president and chief investment officer at the college on June 30. 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. Office of the President. 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. With the Tokyo 2020 marathon days away, we caught up with her to reflect on a few matters running-, and non-running, related. 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 . 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. The directory includes famous graduates and former students along with research and academic staff. 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. But in big-time academia, CEO pay often trails the CIO and probably the football and basketball coaches as well. 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. Bryants appointment is effective July 1, 2021. 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.". Culture, This content is from: The endowment provides a permanent source of funding for such purposes as financial aid, faculty chairs, scholarly research and writing, student . 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. News & Research forInvestmentLeaders, J.P. Morgan Credit and risk management 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. 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. 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. www.charlesskorina.com, THE SKORINA LETTER:Sign-up 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. Report this profile Report Report. See the metrics below for more information. Of the total endowment distribution in 20192020, approximately $33 million supported financial aid, accounting for approximately three-quarters of Bowdoins $45 million financial aid budget in the last fiscal year. Were not going to do any deep mathematical analysis here, but certain patterns are pretty obvious. Always high-quality. 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. Bowdoin didnt actually have an investments person [before me], so I came to Bowdoin working as the associate treasurer, Volent said. By far the most significant legacy she will leave from the growth of the endowment is to move us to among the leaders in financial aid of all colleges and universities in this country, President Clayton Rose said in a Zoom interview with the Orient. NYU's Endowment Fund provides a permanent source of capital to support the University's mission and programs. Thats about standard for a company of this size in this industry. The contracts at the larger endowments are often custom-crafted in negotiations between employer and employee, and no two are exactly the same. Washington, District of Columbia, United States. [Our commitment to equal access] is something thats deep in our values, but its also something thats possible because of two things: one, the generosity of our alumni and our parents, and two, Paulas amazing track record. Most of that consisted of a $13.6 million bonus. Chief. Craig W. Smith, a highly experienced and respected investment professional in the institutional investment industry, has been named chief investment officer of Tufts University. Chief Investment Officer Bowdoin College Jul 2021 . She exceeded even her mentor, the esteemed David Swensen, who was a close second with 11.7 percent. 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. 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. But thats changed somewhat in recent years as more states adopt sunshine laws for public-employee pay generally. Are Defined Benefit Pension Funds Still Useful Recruiting, Retention Tools? 29. In 2004, they joined Carnegie Corporation of New York as the Associate Director of Investments . As the Lundberg case confirmed, these pay packages are complex. The hitch is the long time-lag more than two years before the data is publicly available. Bowdoin College - Mid-career pay: $135,900 . At Yale, Volent took classes and also held a job in the investments office under David Swensen, Yales longtime investments manager who passed away last week. And items in the other column are not always explicable. 7.7. I look forward to working with Niles over the next four months to facilitate a smooth leadership transition.. If she now has a chance to be properly compensated by helping to manage an $8 billion energy company, then more power to her. 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. They generally get no performance bonus (or only a modest one). "Investment does not occur here at Williamstown," Chilton told The Record, "and so we need to have an office at a financial capital, which in this case is Boston.". Jean's life was one of great love and devotion for her husband, David, with whom she was . Although Volent did not disclose the distribution of her time between the two offices, she confirmed that she will work out of both. 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. Bowdoin College's long-time chief investment officer Paula Volent is stepping down. Lewiston, Maine 04240. (Compensation as of calendar year-end 2015. Harvards CIO-of-record in FY2017 was Narv Narvekar. A search committee has been formed to identify the sixteenth president of Bowdoin College. 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 . To take one example, when Jagdeep Bachher moved down from Alberta to northern California as CIO at University of California Regents he landed in a far more expensive housing market. And, if NYSCRF held Williams (investment-grade) bonds, you can be sure that Ms. Williams a crack credit-analyst and bond maven in her previous jobs had the numbers to prove they were a suitable buy for her fund. But there are exceptions. The speech was well-received, and the school year proceeded. Below is the list of 100 notable alumni from Bowdoin College sorted by their wiki pages popularity. Vice President for Institutional Affairs. Rockefellers endowment, valued at $2.5 billion, is a crucial source of revenue for the university, contributing nearly 30 percent to the operating budget each year, directly supporting its ability to fund laboratories, pay salaries, and invest in new technology. 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. Its all possible thanks to funding secured by the McKeen Center and the Office of Career Exploration and Development. Ms. Volent, who has had the top investment position at the Brunswick, Maine-based college since the . Reports of the Secretary of War, Chief of Staff, Adjutant General, Inspector General, Judge Advocate General, Quartermaster General, Surgeon General, Chief of Ordnance, Chief Signal Officer, Chief of Militia Bureau, Chief of Coast Artillery, Superintendent Military Academy, Chickamauga and Chattanooga Park Commission . He started in April as director of investments. $1,200,798. 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. Fortress Investment Group . "It is important for the College to have a continued sense of leadership," said Mills in explaining why he chose to share his intention, "and I committed to the trustees last spring that I would let them know.". Michigan State University and BOWDOIN MAGAZINE (ISSN: 0895-2604) is published three times a year by Bowdoin College, 4104 College Station, Brunswick, Maine, 04011. 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. Volent flies frequently to meet with investment mangers across the country, so a New York location should make traveling easier for her. ), officer during the War of 1812 Bloomberg. E.g., the number for Mr. Pomeroy at Penn State is a very conservative estimate. Thayer comes to Grinnell from the Oberlin College Investment Office in New York City, where he served as CIO. Anne Dinneen, Hamilton's Chief Investment Officer, received Chief Investment Officer (CIO) magazine's Innovation Award for endowment management on Dec. 14 at a gala at the New York City Public Library. Chief Investment Officers are high-level executives in charge of managing their organization's investment portfolios. In opening the office, Bowdoin joins a group of colleges and universities that have moved their offices closer to financial centers. Office of the President. He almost certainly makes more. During this recent challenging period, Niles has worked side by side with me and our Investment Committee on managing Bowdoins portfolio, augmenting the investment team, and carrying out our due diligence on potential opportunities. VICE PRESIDENT OF STUDENT AFFAIRS. I feel like in investing, that approach has carried over. Volent has an M.B.A. from the Yale School of Management, an M.A. It is invested globally across a diverse range of . Matthew P. Orlando of Brunswick has been promoted to the position of senior vice president for finance and administration at Bowdoin . Bowdoin College Signatory to Supreme Court Amicus Brief Supporting Use of Race-Conscious Admissions Process, Bowdoin has joined with thirty-two peer institutions in an, Bowdoin College Presidential Search Committee Named. Read our full privacy policy for more. Net Assets. Chief investment officer pay at 74 top endowments; Skorina seeks a chief investment officer; Vickie Fuller: The after-life of a CIO; . Much of this has to be declared as taxable W2 income to the employee per IRS rules and is therefore in our total. [Swensen] took me inhe had me filing at first, and over time, he got me working on projects, Volent said. Volent is on the board of directors at MSCI and the board of advisors for the Yale School of Management. Any comments made with an email address that does not belong to you will get removed. Volent, who was hired by Bowdoin in 2000, oversees the College's $904 million endowment. Williams is an S&P 500 company, so virtually every institutional investor on the planet has a piece of their equity. The most obvious one here is Paula Volent at Bowdoin College. 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 . CIO; PLANADVISER; PLANSPONSOR; 702 King Farm Boulevard, Suite 400, Rockville . AND DEAN OF THE FACULTY AND BOSWELL PROFESSOR OF ECONOMICS. Paula Volent, 63, the chief investment officer of Bowdoin College's endowment, sees similarities between art conservation and investment management. Search Bowdoin College Search. . This relationship does not necessarily hold at smaller schools, but its pretty consistently true at the biggest ones. Join to view profile . What we cant do is explain how these numbers were arrived at. 3.3.2023. 207-786-6103. mhussey@bates.edu. Bowdoin College is 438th in the world, 175th in North America, and 163rd in the United States by aggregated alumni prominence. Administration. Niles then worked as an Associate at Dewey & LeBoeuf LLP from 2000 to 2001. She has almost 19 years on the job and her comp reflects how badly her board would like to keep her. Were convoluted, but were consistent. 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. As of June 30, 2022, the three-, five-, and ten-year annualized returns for Bowdoins endowment were 15.7 percent, 14.7 percent, and 13.3 percent, respectivelyall in the top 5th percentile among comparative college and university annualized returns, according to data compiled by Cambridge Associates. Niles Bryant will become the next senior vice president and chief investment officer at Bowdoin College. In the first of a series of fireside chats with this years honorary degree recipients, the College welcomed DeRay Mckesson 07 H21, a Black Lives Matter activist and host of the podcast Pod Save the People, in a virtual conversation moderated by Beth Kowitt 07, a journalist for Fortune Magazine. 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. He received a big payout classified as other in calendar 2015. $1,981,536,000. But he was only hired in late 2016, and he had no pay for that position in CY2015. On June 30, 2020, the endowment was valued at $1.8 billion and provided $71.8 million to the annual operations of the College. I said, No, Im an artist, of course not!. She will assume stewardship of the university's endowment starting August 15. The item War Department annual reports, 1917. Bowdoin College - Mid-career pay: $135,900 . Volent also cited proximity to fund managers as a primary reason for the new office. Mr. Phillips is an effective and well-credentialed CIO and Rochester, understandably, wants to fend off offers from other, bigger schools. About . 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. His typical pay is less than half the total shown for CY2015.
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