What is a Chief Investment Officer? Bowdoin College - Nonprofit Explorer - ProPublica BOWDOIN MAGAZINE (ISSN: 0895-2604) is published three times a year by Bowdoin College, 4104 College Station, Brunswick, Maine, 04011. The contracts at the larger endowments are often custom-crafted in negotiations between employer and employee, and no two are exactly the same. 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. Chief investment officer pay at 74 top endowments; Skorina seeks a chief investment officer; Vickie Fuller: The after-life of a CIO; . A search committee has been formed to identify the sixteenth president of Bowdoin College. Report this profile Report Report. Financial services and technology are . 207-786-6103. mhussey@bates.edu. 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. The reader should also be warned that pay for a given year, while accurate, is not always typical for that CIO. 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. The IRS requires a certain degree of granularity and, in most cases, we see items for base salary, bonus, other, and total. 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. 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. ), officer during the War of 1812 This beacon provides an assessment of a charity's financial health (financial efficiency, sustainability, and trustworthiness) and its commitment to governance practices and policies. 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. 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. Join to view profile . Nevertheless, the losses didn't make a dent in last . At the time, endowments for little schools like Bowdoin didnt have any alternatives [to invest in] like private equity or venture capital. This is a new position with a highly rated, multi-line insurance company located in the greater Philadelphia area. Associate VP and Chief Investment Officer. 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. Despite the courts ruling, we believe disclosure of the Incentive Plan will put U-M at a competitive disadvantage, a school spokesman said. A native of Warwick, Rhode Island, Mills graduated cum laude with a double major in biochemistry and government from Bowdoin College in 1972. K. Niles Bryant was named senior vice president and chief investment officer at Bowdoin College. I said, No, Im an artist, of course not!. EDUCATION: Brandeis University, Bowdoin College. A Bird's-Eye View of Fall Color on Campus. But in big-time academia, CEO pay often trails the CIO and probably the football and basketball coaches as well. In a very few cases we estimated comp based on our industry knowledge, rather than omitting a major school. Endowment. Pay and Chief Investment Officers - Charles Skorina & Company 7.7. Compensation for this key position is competitive. Bloomberg. And, we highly doubt Ms. Fuller was looking for a cushy job when she accepted an offer from Williams. BOWDOIN COLLEGE BRUNSWICK, ME 04011-8445 | Tax-exempt since June 1935. This kind of bennie has long been typical for school presidents, but its becoming more common for senior administrators. New Chief Investment Officer Is Named | Dartmouth Total Salary includes financial earnings, benefits, and all related organization earnings listed on tax filing. This case examines modern endowment investment management through the lens of a leadership transition between Chief Investment Officers (CIOs). Most of that consisted of a $13.6 million bonus. And, even when public-school CIO comp is published, it cant always be trusted. In 2020, she was named one of the 100 Most Influential Women in U.S. Finance by Barrons. Volent has an M.B.A. from the Yale School of Management, an M.A. Her record in the short, medium and long term of investment returns is at the very highest of all colleges and universities of this country that has allowed our endowment to grow and the biggest piece of our endowment is dedicated to financial aid. The stewardship of these resources includes the investment of the endowment and other financial . See the metrics below for more information. Investment Office Modern Endowment Management: Paula Volent and the Bowdoin Endowment Bowdoin College. The Investment Associate will participate in Investment Committee meetings and may have an opportunity to formally present in a group setting. $10.7. "Our team, led by Senior Vice President and Chief Investment Officer Niles Bryant . 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. It has been a great honor to oversee Bowdoins endowment, said Volent. Bryant will succeed Paula Volent, who will step down at the end of June after more than 20 years on the job. We pointed out in our letter that she appeared to be underpaid compared to (male, white) CIOs running comparably big public pensions. The occasional series "How it feels" was first published in the 2005-2006 volume of the Orient. So, the downward march of the comp rankings pretty closely follows the downward march of AUM on this list. Catch up on the latest reports, stories and opinions about Bowdoin and Brunswick in your inbox. 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.. 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. $10.5. "It has been a great honor to oversee Bowdoin's endowment," said Volent. The Orient was unable to confirm if this is the case; beyond the statement issued by Volent, senior administrators contacted for this story declined to comment, as did several trustees and faculty with knowledge of the move. Copyright 2023 Asset International, Inc. All Rights Reserved. Chief Investment Officers Institutional Asset Managers The item War Department annual reports, 1917. Bowdoin College has promoted K. Niles Bryant to be the new CIO of its $1.8 billion endowment, effective July 1. - Conducted research . Republican Governors Association: Announces senior staff Institutional investors operate at the crossroads of capital . Chief Investment Officers are high-level executives in charge of managing their organization's investment portfolios. Today, Volent oversees a growing staff split between two offices in Brunswick and New York. In our chart below, we can only offer the bare numbers. It was in Los Angeles that Volent got her first introduction to finance, as she took a few classes on the side to help her as she began running her own business. Following a national search process, Jainen "JT" Thayer has been selected to be Grinnell's next chief investment officer (CIO). from the University of New Hampshire. Mike Hussey joined Bates in 2012 and oversees or supports a variety of institutional projects on behalf of the President. Manager Selection February 23, 2023. 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. 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. The team reports to the Chief Investment Officer, President of the College, and Bowdoin's Investment Committee. Charles Skorina & Co. is the exclusive search agent for this position. Smith, who has served as the university's co-chief investment officer ad interim since March 2020, was chosen following an extensive national 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. 5700 College Station (207) . Conn. Williams hired Collette Chilton as its chief investment officer in 2006 and opened the Boston office shortly after. DeGraff earned her master's and doctorate . Investment . . Aiden MacNeil - Bowdoin College - Branford, Connecticut - LinkedIn As the Lundberg case confirmed, these pay packages are complex. Company Website. Bowdoin ranks only 69th by AUM (FY2017), but 10th by CIO compensation in 2015. from the Catholic University of America Columbus School of Law in 2015. . Bowdoins endowment consists of more than 1,700 individual funds earmarked for the perpetual support of a variety of College initiatives. 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. Prior to moving into the financial sector, Bryant was an associate at the New York City law firms of Dewey Ballantine and Winston & Strawn. Niles exceptional experience and skills, his record of achievement, and his deep commitment to Bowdoins mission make him the ideal person to succeed Paula, Bowdoin President Clayton Rose said in a statement. Paula and her team have produced remarkable investment returns for Bowdoin that changed both the trajectory of the College and the lives of thousands of students who benefitted from the financial aid resources generated from its endowment, said Bowdoin College President Clayton Rose. 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. Tufts Names Craig W. Smith Chief Investment Officer All asset classes are invested through a selection of external investment managers or through market indices. When Volent took on her position in the summer of 2000, Bowdoins endowment stood at just over $465 million; in the year ended June 30, 2020, the endowment had gained 5.9 percent, growing to $1.8 billion, providing nearly $72 million to the annual operations of the College last year, including $33 million for need-based financial aid. "The College's endowment is invested across a range of asset classes in global markets. Bryant will take the helm a little more than a year after joining Bowdoins investment office. On June 30, 2020, the endowment was valued at $1.8 billion and provided $71.8 million to the annual operations of the College. Paula Volent '97 Named Rockefeller University's Chief Investment Officer Ms. Fuller, prudently, chose not to dignify these charges with any public comment. 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. Other distributions restricted by donors are used to support professorships and instruction, lectureships, museums, the library and book purchases, and technology. [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. 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. Our Trustees - Our Leadership - Knox College . Presidential Team | Claremont McKenna College Benje Douglas Senior Vice President for Inclusion and Diversity. Chief Investment Officer - CIO: A chief investment officer is an executive position responsible for managing a company's investment portfolios. Its ironic that data for public colleges has sometimes been the least public. Culture, This content is from: 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.. Capital Projects, and Special Counsel. A direct Mayflower descendant of Richard Warren, Jean was born on March 28, 1939, to parents Frank N. and Harriet O. 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. Leadership Team | Office of the President | Bates College The two-year lag in comp reporting is annoying, although we get to blame the IRS. 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. She will assume stewardship of the universitys endowment starting August 15. This anecdote launched the larger theme of Mills' address, which posed the question of whether the College's generally liberal persuasion detracts from intellectual diversity on campus. Paul Rucci. Can an 'Agreement to Agree' Support Expectation Damages? Bowdoin has established a second investment office in New York City, College officials confirmed this week. Leadership Maine is a powerful, nine month, outward journey that takes a leader beyond their day-to-day experience and expands their capacity to shape our state's future.
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