(SVP/CHIEF INVESTMENT OFFICER) $4,170,808: CHRIS PICCIONE (ENDOWMENT CHIEF OPS OFFICER) $501,321: CLAYTON ROSE . 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. The official University of Michigan salary-disclosure listing (page 447) for 2017 showed CIO Erik Lundbergs total comp as $720,000. After Over 20 Years at Bowdoin, CIO Paula Volent Is Bowing Out, This content is from: This is the Bowdoin Orient's archive site. 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. 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. She succeeds Amy Falls, who is leaving the post this spring . 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. Well-known alumni include John L. Flannery, who in 2017 was named chairman and chief executive officer of . Bowdoin College has earned a 100% for the Accountability & Finance beacon. 29. Maintaining an office in the country's financial capital will allow Volent to hire and retain top investment associates. 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. 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. More From Investment Office. 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. 2 Andrews Road. 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. Its ironic that data for public colleges has sometimes been the least public. Under Fallss leadership, Rockefellers investment team returned consistent top-decile growth of the Universitys endowment over the past decade. Advised the Chief Investment Officer to build from scratch IFC's 7.4+ billion global, ESG . 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. New Bowdoin Podcast to Tackle Issues of Democracy. Prior issues can be found in archives on our website, Charles Skorina & Company Governance; Administration; President Clayton Rose; Selected Speeches and Writings; Past Presidents ; Student Office Hours; 255 Maine Street Brunswick . A strong background in fixed income/credit is necessary. In the overarching sense, however, Volents career trajectory will always be of special relevance to Bowdoin. Endowment. Read Bio . 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. Chief Investment Officer Brown University . Bryant will take the helm a little more than a year after joining Bowdoins investment office. A Maine resident herself, Volent will remain connected to the College and the state even after she assumes her new position. $1,249,740. But the incentive formula is usually confidential. No hate speech, profanity, disrespectful or threatening comments. This content is from: Read our full privacy policy for more. She holds a masters in business degree from the Yale School of Management. "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.". Niles Bryant is the SVP and Chief Investment Officer at Bowdoin College. Back Submit. Im going to stay very much involved with the College when I leave.. Washington, District of Columbia, United States. Rockefellers research-oriented, biochem-heavy institutional values will present new opportunities for Volent. 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. The item War Department annual reports, 1917. Patricia Ribeiro Promoted to Co-CIO of Global Growth Equity at American Century Investments. DeGraff earned her master's and doctorate . Compensation for this key position is competitive. And, if youre crafting a competitive offer, it certainly helps to know exactly what you have to beat. He added that Volent and her team have produced investment returns 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.. It is invested globally across a diverse range of . Forty-nine percent of Bowdoins first-year class receives need-based financial aid, a percentage that continues to grow. Niles has over 20 years of experience in the investment industry. 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. In 2006, we hired Collette Chilton to the new position of Chief Investment Officer. (He was paid $4.3 million by Columbia University in that period, but that was under a different contract with a different employer with a smaller AUM, making it triply apples-to-oranges.). The latest science discoveries delivered monthly to your inbox. 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. 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.". in 2008 and earned his J.D. Bowdoin ranks only 69th by AUM (FY2017), but 10th by CIO compensation in 2015. Culture, This content is from: News & Research forInvestmentLeaders, J.P. Morgan Credit and risk management 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. Vickie Fuller, beginning with no special advantages, achieved success in both the corporate and non-profit spheres with a lifetime of hard work. 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. 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. Led by Chief Investment Officer Mauricia Geissler and operating under the guidance of Amherst's Investment Committee, the Amherst College Investment Office is . This kind of bennie has long been typical for school presidents, but its becoming more common for senior administrators. Summer research assistant in the Department of Botany at the National Museum of Natural History. Because there are very few public universities in our endowment peer group, virtually no comparison [sic] schools will ever have to make their plans public. Bryants appointment is effective July 1, 2021. 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. 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. Paula Volent, a leading investment manager who oversaw Bowdoin Colleges $2 billion endowment for two decades, has been named Rockefellers next vice president and chief investment officer. E.g., the number for Mr. Pomeroy at Penn State is a very conservative estimate. (In three volumes) Volume I. There's not much that hasn't been long since said. This support includes enabling expanded access, subsidizing tuition for every student, paying for the best teachers and facilities, creating knowledge and supporting basic operations. Corner Office. 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. 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. from New York Universitys Institute of Fine Arts, and a B.A. If youre interested, send me your resume. The Foundation and Endowment Intelligence article, citing an unnamed source, said that the College "plans to relocate the investment staffsometime in the next few months." 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). Aerial views of campus with pops of brilliant fall color, thanks to local drone photographer Glenn Michaels. 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. Were convoluted, but were consistent. There are probably other cases of non-typical payouts on the list, but we cant identify all of them. Mills previously served as the deputy presiding partner of Debevoise . Bryant started their career as an Associate at Winston & Strawn LLP from 1998 to 2000. "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.". Bowdoin Colleges long-time chief investment officer Paula Volent is stepping down. 5700 College Station (207) . Investment . This was a difficult decision, but after more than twenty years, I am excited about writing a new chapter and taking on new challenges.. 5700 College Station (207) 725-3221. Tulsa-based Williams processes and transports natural gas, so what followed was annoying but predictable. Harvards CIO-of-record in FY2017 was Narv Narvekar. Bryant will succeed Paula Volent, who will step down at the end of June after more than 20 years on the job. If you have a friend or colleague who might be suitable, please spread the word. 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]. 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 . With the Tokyo 2020 marathon days away, we caught up with her to reflect on a few matters running-, and non-running, related. She will assume stewardship of the universitys endowment starting August 15. Executives Listed on Filing. Upon graduating, he soon began working at the law firm, Debevoise . What we cant do is explain how these numbers were arrived at. 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. <br><br>After graduating from Bowdoin College in 1992 with degrees in both Economics and Spanish, he began his . 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. Sharon K. Basso. Paula Volent, a leading investment manager who oversaw Bowdoin College's $2 billion endowment for two decades, has been named Rockefeller's next vice president and chief investment officer. Tucson, AZ 85750 The chief investment officer (CIO) usually oversees . . 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. As senior vice president and chief investment officer, Bryant will be a member of Bowdoins senior leadership team, reporting to the president. Without that, wed be in a very different place now with regards to access.. 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.. He will oversee the management of the Brunswick, Maine, college's $1 . AUM as of June 30, 2017), COMPENSATION: TOP 74 CHIEF INVESTMENT OFFICERS, Baseline compensation year: December 31, 2015 Join to view profile . But he was only hired in late 2016, and he had no pay for that position in CY2015. Ruth, who spent the last eight years as chief investment officer for Michael Bloomberg's family office, known as Willett Advisors . Bowdoin only recently broke into the billion-plus club, but Ms. Volent a Yale Investment Office alumna has been consistently over-performing for years. chief investment officers - and the global investment community within which we work as executive search professionals. K. Niles Bryant was named senior vice president and chief investment officer at Bowdoin College. 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. Bryant will succeed Paula Volent, who will step down at the end of June after more than 20 years on the job. Paula Volent, Bowdoin Colleges 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. Although the gross number had become public, the Detroit Free Press still sued the University to obtain details about how it was calculated. In 2020, she was named one of the 100 Most Influential Women in U.S. Finance by Barrons. who was hired by Bowdoin in 2000, oversees the College's $904 million endowment. You've seen his Stanford commencement speech, of course. 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. But, in an upcoming supplement to this letter, well look at recent historical trends in CIO pay, and will even daringly attempt to extrapolate what current (calendar 2018) pay may be for some of these CIOs based on that trendline. [Swensen] took me inhe had me filing at first, and over time, he got me working on projects, Volent said. It has been a great honor to oversee Bowdoins endowment, said Volent. But its been like pulling teeth in many places. 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 . 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. All asset classes are invested through a selection of external investment managers or through market indices. . Bowdoin didnt actually have an investments person [before me], so I came to Bowdoin working as the associate treasurer, Volent said. 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. 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. A direct Mayflower descendant of Richard Warren, Jean was born on March 28, 1939, to parents Frank N. and Harriet O. Here I was, an art person, Volent said. Before submitting a comment, please review our comment policy. 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. At Rockefeller, we have enjoyed an enviable record of investment success under Amy Falls, says Bill Ford, chair of Rockefellers Board of Trustees. If she now has a chance to be properly compensated by helping to manage an $8 billion energy company, then more power to her. It is not clear if this factor influenced the decision. Vice President for Institutional Affairs. Orlando named chief financial officer at Bowdoin College. Prior to his work in the field of investments, Bryant was an associate at the New York City law firms of Dewey Ballantine and Winston & Strawn. . 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. About . 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. 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. Presidents get perks like first-class air travel, chauffeurs, club memberships for themselves and their spouses, etc. NYU's Endowment Fund provides a permanent source of capital to support the University's mission and programs. Prior to moving into the financial sector, Bryant was an associate at the New York City law firms of Dewey Ballantine and Winston & Strawn. But in big-time academia, CEO pay often trails the CIO and probably the football and basketball coaches as well. 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. Printed by Penmor Lithographers, Lewiston, Maine. Lane Hall, Room 214C. 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. (See our complete compensation chart just below.). 520-529-5677 The speech was well-received, and the school year proceeded. 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, 2020) endowment, the largest portion of which is permanently restricted to the support of student financial aid. Bowdoin College. He will begin work in mid-September, following his relocation from New York City. Bowdoin College is 438th in the world, 175th in North America, and 163rd in the United States by aggregated alumni prominence. Institutional investors operate at the crossroads of capital . See the metrics below for more information. Bryant will succeed Paula Volent, who announced in February that she intends to step down . Bowdoin College's long-time chief investment officer Paula Volent is stepping down. 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 . $1,981,536,000. The fact that a major university would go to some trouble to avoid disclosing that information does speak to the highly competitive market for top CIOs. 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. 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. In 2004, they joined Carnegie Corporation of New York as the Associate Director of Investments . However, Volents path to Brunswick wasnt through finance at all. "If you use your conservation skills on . Northwestern Mutual Chief Investment Officer Brent The Federal Reserve showed it can be nimble, hiking 75 percent this past week based on new data. ), officer during the War of 1812 Benje Douglas Senior Vice President for Inclusion and Diversity. We doubt if anyone is going to top it. This is a new position with a highly rated, multi-line insurance company located in the greater Philadelphia area. This case examines modern endowment investment management through the lens of a leadership transition between Chief Investment Officers (CIOs). Read Bio Covid-19 Response Team. from the Catholic University of America Columbus School of Law in 2015. . 6.0. . 5 free lookups per month. It was echoed by the New York Post, with: Ex-pension chiefs cushy gas company gig raises eyebrows. I think that I am a better investor for my background in the liberal arts, Volent said. You are strongly encouraged to use a real name or identifier ("Class of '92"). Olympian Joan Benoit Samuelson 79 Reflects on Championship, Mental Health, and Balance. Volent flies frequently to meet with investment mangers across the country, so a New York location should make traveling easier for her. 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. At the time, endowments for little schools like Bowdoin didnt have any alternatives [to invest in] like private equity or venture capital. Some key points from the policy: Go to content, skip over visible header bar, Orient article offers singular, alarming interpretation, President Rose, College community react to revealed Epstein ties with former trustee Jes Staley '79 P'11, Owner of At Last Spa promotes personal health and wellness practices, Graffiti at Bates being investigated as possible hate crime; Bowdoin students write letter in solidarity with protestors, Mckesson 07 H21 debuts fireside chats as first of this years honorary degree recipients, Shift in off-campus study policy now allows more students to go abroad for the fall, Professor of Government Chryl Laird to leave Bowdoin for University of Maryland. Private schools and some publics disclose it in IRS filings. Retained Executive Search Copyright 2023 Asset International, Inc. All Rights Reserved. General Manager Roberts 032 207-859-5464 [email protected] Colby College 4000 Mayflower Hill Waterville, ME 04901 207-859-4000. This relationship does not necessarily hold at smaller schools, but its pretty consistently true at the biggest ones. 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. She announced in February that she would be stepping down as senior vice president and chief investment officer at the college on June 30. Its a constantly evolving spectacle and The Skorina Letter gives readers a ringside seat. 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. VICE PRESIDENT FOR ACADEMIC AFFAIRS. The school announced Thursday that Volent, who had served as the endowments investment chief since 2000, will leave on June 30, 2021, at the end of the academic year.
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