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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. "Our team, led by Senior Vice President and Chief Investment Officer Niles Bryant . Bowdoin College. 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. Were not going to do any deep mathematical analysis here, but certain patterns are pretty obvious. Bowdoin College. She intimated to us that she was considering a board position, but that she hadnt yet pulled the trigger. Institutional investors operate at the crossroads of capital . 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. June 07, 2018. 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. Bryant started their career as an Associate at Winston & Strawn LLP from 1998 to 2000. $1,200,798. At the time, endowments for little schools like Bowdoin didnt have any alternatives [to invest in] like private equity or venture capital. Bowdoin College has promoted K. Niles Bryant to be the new CIO of its $1.8 billion endowment, effective July 1. A search committee has been formed to identify the sixteenth president of Bowdoin College. 5 free lookups per month. Compensation is a delicate issue; but recruiters need to keep track of it. 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. He holds degrees from Bowdoin College, University of St. Andrews, and University of Connecticut School of Law. The stewardship of these resources includes the investment of the endowment and other financial . Our chart shows W2 earnings only, paid in calendar year 2015 and taxable to the CIO. A direct Mayflower descendant of Richard Warren, Jean was born on March 28, 1939, to parents Frank N. and Harriet O. Join our social media network for updates from our campus and our labs. 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. Todd M. Jones is Executive Vice President, Chief Financial Officer (CFO). 5700 College Station (207) 725-3221. 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]. He started in April as director of investments. . 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.". Or, you can file a FOIA request. Officer. Gregg Abella is CEO and Portfolio Manager at Investment Partners Asset Management. 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. 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. 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. A native of Warwick, Rhode Island, Mills graduated cum laude with a double major in biochemistry and government from Bowdoin College in 1972. A Maine resident herself, Volent will remain connected to the College and the state even after she assumes her new position. New Bowdoin Podcast to Tackle Issues of Democracy. April 16, 2021. And, we highly doubt Ms. Fuller was looking for a cushy job when she accepted an offer from Williams. Ribeiro will serve as co-CIO of global growth equity discipline and will share the role until May 31 with Keith Creveling, until he moves into a portfolio management role. 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. Corner Office. I had no background in finance, and I think thats [an] interesting [story] for Bowdoin students because you never know how your career is going to pivot I went to Yale initially thinking that afterwards, I was going to be a museum director and go back to the arts.. The latest science discoveries delivered monthly to your inbox. 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. The Investment Office oversees the Institute's investment-management activities, managing over $4.6 billion of endowment, trust and other assets, including real estate. What we cant do is explain how these numbers were arrived at. With the Tokyo 2020 marathon days away, we caught up with her to reflect on a few matters running-, and non-running, related. I feel like in investing, that approach has carried over. Vice President of Campus Planning and. Michigan State University and The Office of Investments manages the combined Purdue Investment Pool (PIP) and the Purdue Investment Pool Cash (PIPC). 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. Read Bio Covid-19 Response Team. Michelle Chamberlain. 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. 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 . Then, at the end of July, the publicly-listed Williams Companies (NYSE: WMB) announced her appointment to their board. Advised the Chief Investment Officer to build from scratch IFC's 7.4+ billion global, ESG . from the University of New Hampshire. No hate speech, profanity, disrespectful or threatening comments. He earned his law degree at the Duke University School of Law in 1998 and his MBA in 2003 at Dartmouth Colleges Tuck School of Business. 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. 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. Everett, Massachusetts, United States. Benje Douglas Senior Vice President for Inclusion and Diversity. Niles Bryant is the SVP and Chief Investment Officer at Bowdoin College. Ernst & Young Systems and process consulting The Investment Associate will participate in Investment Committee meetings and may have an opportunity to formally present in a group setting. Niles then worked as an Associate at Dewey & LeBoeuf LLP from 2000 to 2001. Its a constantly evolving spectacle and The Skorina Letter gives readers a ringside seat. Finally, Volents path led her back to Bowdoinbut this time in the treasury rather than the art museum, where she has been ever since. Volent will succeed Amy Falls, Rockefellers current vice president and chief investment officer, who was named vice president and chief investment officer for Northwestern University in February. 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? Administration. 5700 College Station (207) . 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.. 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. 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. Total Salary includes financial earnings, benefits, and all related organization earnings listed on tax filing. An example is Douglas Phillips at University of Rochester. (latest available public filings), California Institute of Technology (Caltech), * Rob Wallace, Stanford, start date July 2015. All rights reserved. He is a graduate of the University of Michigan, where he earned his undergraduate degree magna cum laude in classical archaeology, and where he was also elected to Phi Beta Kappa. 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. 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. During her time at Bowdoin, Volent oversaw top-decile growth of the colleges endowment over the past one-, three-, five-, ten-, and twenty-year periods. She will assume stewardship of the university's endowment starting August 15. 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. In 2015 Paula Volent, Bowdoin College's chief investment officer, managed a hefty 14.4% return on the Maine liberal arts college's then- $1.4 billion endowment. 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 is 438th in the world, 175th in North America, and 163rd in the United States by aggregated alumni prominence. Report this profile Report Report. 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. Bowdoin College. <br><br>After graduating from Bowdoin College in 1992 with degrees in both Economics and Spanish, he began his . 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. 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. ), officer during the War of 1812 Printed by Penmor Lithographers, Lewiston, Maine. Bowdoin College Names K. Niles Bryant CIO, Massachusetts Pension Fund Increases Corporate Diversity Standards. Its rife with dark hints and insinuations that, since NYSCRF had had some investments with Williams, Ms. Fuller must have been the beneficiary of some greasy quid-pro-quo. 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 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. Endowment Index Ends Second Straight Year at Record High, Tags: Bowdoin, CIO, Clayton Rose, Endowment, K. Niles Bryant, Paula Volent, Massachusetts Pension Fund Increases Corporate Diversity Standards, 702 King Farm Boulevard, Suite 400, Rockville, MD 20850 / +1 212-944-4455 /. 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. 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. But, obviously, we could only report pay for CY2015 if the CIO had held the same job in that prior period. Volent will join the biomedical research institution this summer from Bowdoin College, where she led the $2 billion endowment for the past two decades. 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. In a 2007 article published in The Williams Record, Chilton cited greater access to investors as the principal reason for the move. Harvards CIO-of-record in FY2017 was Narv Narvekar. Financial services and technology are . "If you use your conservation skills on . "The College's endowment is invested across a range of asset classes in global markets. 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 case examines modern endowment investment management through the lens of a leadership transition between Chief Investment Officers (CIOs). Bowdoin College - Mid-career pay: $135,900 . 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.. 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. Investment Officer - Sourcing and structured investments in Albania . Most of that consisted of a $13.6 million bonus. It would be highly misleading to ascribe that comp to Mr. Narvekar, so we didnt. On June 30, 2020, the endowment was valued at $1.8 billion and provided $71.8 million to the annual operations of the College. The judge sided with the Freep, but the university argued that they had legitimate reasons for keeping them private. In this 2011 revival, Bowdoin students tell the Orient about their experiencesgood, bad, or just extreme. Associate VP and Chief Investment Officer. 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. Maintaining an office in the country's financial capital will allow Volent to hire and retain top investment associates. Office of the President. Published October 05, 2022 by Bowdoin College. Bowdoin ranks only 69th by AUM (FY2017), but 10th by CIO compensation in 2015. Bowdoin College names new CIO. 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. Manager Selection February 23, 2023. Net Assets. (Compensation as of calendar year-end 2015. Chief Investment Officers vs. University Presidents. Mr. Skorina also publishes THE SKORINA LETTER, a widely-read professional publication providing news, research and analysis on institutional asset managers and tax-exempt funds. 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. 6080 N. Sabino Shadow Lane Chief. During the fiscal year, the endowment provided $81 million to the annual operations of the College, and because the actual cost of educating a student at Bowdoin is approximately $114,000, the endowment subsidizes every student, not just those receiving aid. The Bates Leftist Coalition (BLC) shared pictures of the graffitied phrases, Free Palestine, Stop Ethnic Cleansing, Israel is killing innocent people and [expletive] Zionist Israel. 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. Over the duration of her career in Brunswick, Volent oversaw the growth of Bowdoins endowment from $465 million to its current $2.4 billion valuationgrowth which has fundamentally altered the Colleges financial capabilities and enabled it to be one of 19 need-blind colleges nationwide in its admissions policies and meet full demonstrated financial need with zero loans. By RebeccaNorden-Bright • May 14, 2021. 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. They used a consultancy, Cambridge Associates, and it was something the treasurer did part-time.. 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. This relationship does not necessarily hold at smaller schools, but its pretty consistently true at the biggest ones. 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. 520-529-5677 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 . The official University of Michigan salary-disclosure listing (page 447) for 2017 showed CIO Erik Lundbergs total comp as $720,000. Volent is on the board of directors at MSCI and the board of advisors for the Yale School of Management. Matthew P. Orlando of Brunswick has been promoted to the position of senior vice president for finance and administration at Bowdoin . Here I was, an art person, Volent said. 3.3.2023. 1K followers 500+ connections. About; Bookstore; Campus Map; Colby Magazine; Dare Northward; Dining . Bowdoin's investment team is collaborative, research oriented, and performance driven. 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, Bowdoin College president Clayton Rose said in a statement. A Bowdoin spokesperson declined to comment on where Volent is headed next or who her replacement will be. 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. 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. $10.5. He will begin work in mid-September, following his relocation from New York City. Before embarking on her career in investment management, Volent worked as an art conservator specializing in the conservation of art on paper. 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. 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. Executives Listed on Filing. Institutional investors operate at the crossroads of capital, talent, and ideas, shepherding over seventy trillion dollars in global assets. His typical pay is less than half the total shown for CY2015. AND DEAN OF THE FACULTY AND BOSWELL PROFESSOR OF ECONOMICS. You are strongly encouraged to use a real name or identifier ("Class of '92"). Bowdoin ranks only 69th by AUM (FY2017), but 10th by CIO compensation in 2015. 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. Any comments made with an email address that does not belong to you will get removed. The Endowment is managed by a professional investment staff within the NYU Investment Office. NYU's Endowment Fund provides a permanent source of capital to support the University's mission and programs. This is a new position with a highly rated, multi-line insurance company located in the greater Philadelphia area. Company Website. 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. (See our complete compensation chart just below.). This is the Bowdoin Orient's archive site. 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. "It has been a great honor to oversee Bowdoin's endowment," said Volent. These are the employers against which the university competes for talent recruitment and retention.. skorina@charlesskorina.com A Bird's-Eye View of Fall Color on Campus.