Last updated: 23:34 / Thursday, 26 January 2017
Has hired a new CIO

Harvard University's Endowment to Lay Off Over 100 People

Imagen
Harvard University's Endowment to Lay Off Over 100 People

Harvard Management Company (HMC), in charge of Harvard University’s endowment and related financial assets since 1974, announced on Wednesday the addition of Rick Slocum as chief investment officer, effective in March 2017, and three managing directors to its investment team. Each will report to chief executive officer N.P. Narvekar, who was appointed president and chief executive officer of HMC back in September and assumed his role on December 5, 2016.

“I  am  pleased  to  welcome  four  senior  investors  to  HMC  who  bring  substantial  investment  expertise  and  deep  insight  into  building  and  working  in  a  generalist  investment  model  and  partnership  culture. I  have known these individuals both personally and professionally for the majority of my career and I value their insights and perspectives,” said Narvekar. “I am confident they will be a great addition to the talented and experienced investment team here at HMC.”

The new hires will play a key role in helping HMC transition from an asset class-specialization approach to a generalist investment model and help support a strategy of further deepening HMC’s relationships with a select group of external managers, which will translate into an overhaul of HMC that could include the lay off of roughly half of their 230 employees.

Harvard University's endowment is the largest academic endowment in the world.
 

menu
menu