Most of that consisted of a $13.6 million bonus. Orlando named chief financial officer at Bowdoin College 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. 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. Are Defined Benefit Pension Funds Still Useful Recruiting, Retention Tools? ), officer during the War of 1812 Early life and education. In calendar year 2009the . Ohio STRS Loses 9.52% in 2022, Board Rejects Neville Vote of Confidence, Stocks, BondsHah! It is invested globally across a diverse range of . Investment Office - New York University And, we highly doubt Ms. Fuller was looking for a cushy job when she accepted an offer from Williams. . I love the College and its mission, and I am proud to have been able to contribute to Bowdoins position as one of our countrys great liberal arts colleges. Rockefeller's endowment, valued at $2.5 billion, is a crucial source of revenue for the university, contributing nearly 207-786-6103. mhussey@bates.edu. All asset classes are invested through a selection of external investment managers or through market indices. Curtis Leitner and Joseph Scholz discuss the use of preliminary agreements under New York law, analyzing relevant case law and explaining the implications for contracting parties. Starting right in the middle of the dot-com bubble, Volents first task was damage control; she managed to hold losses to just $15 million of the endowments $465 million valuation when she first came on board. Since the investigation was announced on Monday, members of the Bates community have responded to the news of the investigation. Presidential pay is structured very differently from a CIOs. Bowdoin College names new CIO | Pensions & Investments 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. 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. 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. They used a consultancy, Cambridge Associates, and it was something the treasurer did part-time.. and Secretary to the Board of Trustees. (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.). Bowdoin didnt actually have an investments person [before me], so I came to Bowdoin working as the associate treasurer, Volent said. In our last letter we featured Vickie Fuller, retiring CIO of the $200 billion New York State Common Retirement Fund. Paula Volent. 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. 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. $1,200,798. Vice President for Institutional Affairs. 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. Bowdoin College Announces Endowment Returns for Fiscal 2022 Barry Mills (college president) - Wikipedia Conn. Williams hired Collette Chilton as its chief investment officer in 2006 and opened the Boston office shortly after. 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. We do observe that some contracts mandate a biggish base salary and smallish bonus; others, the opposite. Bowdoin Colleges long-time chief investment officer Paula Volent is stepping down. Volent flies frequently to meet with investment mangers across the country, so a New York location should make traveling easier for her. Chief Investment Officers are high-level executives in charge of managing their organization's investment portfolios. But its been like pulling teeth in many places. In the latest issue of the Claremont Review of Books, President Barry Mills receives something of a tongue lashing for his September convocation address dealing with intellectual diversity at the College. Orlando named chief financial officer at Bowdoin College. Niles is uniquely positioned for this leadership position at Bowdoin, Volent said in a statement. Niles has over 20 years of experience in the investment industry. Is Yales Endowment the New Tiger Management? See the metrics below for more information. As senior vice president and chief investment officer, Bryant will be a member of Bowdoins senior leadership team, reporting to the president. Back Submit. As a member of Bowdoins senior leadership team, Bryant will report to Rose. War Department annual reports, 1917. (In three volumes) Volume I News & Research forInvestmentLeaders, J.P. Morgan Credit and risk management Thayer comes to Grinnell from the Oberlin College Investment Office in New York City, where he served as CIO. Our insights and commentary come from our clients board members, CEOs, chief investment officers and the global investment community within which we work as executive search professionals. Bowdoin College Apr 2012 - Nov 2013 1 year 8 months. . <br><br>After graduating from Bowdoin College in 1992 with degrees in both Economics and Spanish, he began his . President Barry Mills announced last night that he plans to remain at the helm of Bowdoin for at least five more years. History Teaching Assistant - Bowdoin College - LinkedIn 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. Any comments made with an email address that does not belong to you will get removed. (latest available public filings), California Institute of Technology (Caltech), * Rob Wallace, Stanford, start date July 2015. 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 Investment Committee has oversight responsibility for the . But the incentive formula is usually confidential. At Rockefeller, we have enjoyed an enviable record of investment success under Amy Falls, says Bill Ford, chair of Rockefellers Board of Trustees. Bowdoin has established a second investment office in New York City, College officials confirmed this week. Our chart shows W2 earnings only, paid in calendar year 2015 and taxable to the CIO. June 07, 2018. Bowdoin Magazine, Vol. 92, No. 3, Spring/Summer 2021 5 free lookups per month. Skorina seeks CIO for $1.5 Billion portfolio. 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 . At the time, endowments for little schools like Bowdoin didnt have any alternatives [to invest in] like private equity or venture capital. President Kim Cassidy and the Board of Trustees deserve credit for that bold vision. His new employer gave him a $1.8 million mortgage loan at (presumably) a very nice interest rate. Niless exceptional experience and skills, his record of achievement, and his deep commitment to Bowdoins mission make him the ideal person to succeed Paula in this work that is vital for the College and especially for the students and families supported through our endowment returns, said Bowdoin President Clayton S. Rose. His typical pay is less than half the total shown for CY2015. 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. Lewiston, Maine 04240. Before joining Bowdoin, Volent worked at Yale University under CIO David Swensen. Printed by Penmor Lithographers, Lewiston, Maine. or (OCIO firm) . Data Engineer @ Recorded Future Individual Tutor @ Bowdoin College Information Technology Technician @ Bowdoin College see more Barron's 100 Most Influential Women in U.S. Finance: Paula Volent I think that I am a better investor for my background in the liberal arts, Volent said. Washington, District of Columbia, United States. Michelle Chamberlain. Mills previously served as the deputy presiding partner of Debevoise . Investment Office | Wellesley College 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. He graduated from Purdue University with a B.A. 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. The contracts at the larger endowments are often custom-crafted in negotiations between employer and employee, and no two are exactly the same. Bryant joined Bowdoins investment office in April 2020 as director of investments, following sixteen years as an investment professional and earlier as an attorney specializing in capital markets and mergers and acquisitions. Our Leaders | Northwestern Mutual 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. Bryant started their career as an Associate at Winston & Strawn LLP from 1998 to 2000. Liked by Aiden MacNeil As Volent leaves Brunswick, she will leave big shoes for her replacement, Niles Bryant, current director of investments, to fill. 3.3.2023. Beth Kowitt 07 Wins New York Press Club Award. 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. The most obvious one here is Paula Volent at Bowdoin College. Matthew P. Orlando of Brunswick has been promoted to the position of senior vice president for finance and administration at Bowdoin . 1K followers 500+ connections. Michael S. Hussey. No credit card required. Bowdoin College has promoted K. Niles Bryant to be the new CIO of its $1.8 billion endowment, effective July 1. Clever college administrators have sometimes found (or constructed) loopholes in those sunshine laws which let them conceal part of the CIO pay-package. EDUCATION: Brandeis University, Bowdoin College. . BOWDOIN COLLEGE BRUNSWICK, ME 04011-8445 | Tax-exempt since June 1935. 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 . 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. She will assume stewardship of the universitys endowment starting August 15. Bowdoins endowment consists of more than 1,700 individual funds earmarked for the perpetual support of a variety of College initiatives. The reader should also be warned that pay for a given year, while accurate, is not always typical for that CIO. This is a new position with a highly rated, multi-line insurance company located in the greater Philadelphia area. 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. We should also mention that we used a $1 billion AUM lower bound for this list. 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. 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. However, Volents path to Brunswick wasnt through finance at all. Work. Our top earner Mr. Malpass at Notre Dame is deservedly well-paid and isnt going anywhere. 100 colleges whose grads go on to earn the most - omaha.com This kind of bennie has long been typical for school presidents, but its becoming more common for senior administrators. And, if youre crafting a competitive offer, it certainly helps to know exactly what you have to beat. 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.. Her portfolio even . In a very few cases we estimated comp based on our industry knowledge, rather than omitting a major school. The official University of Michigan salary-disclosure listing (page 447) for 2017 showed CIO Erik Lundbergs total comp as $720,000. Well-known alumni include John L. Flannery, who in 2017 was named chairman and chief executive officer of . 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. 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. Office of the Chief Financial Officer | Investments | Amherst College Rather, it was the Walker Art Museum that housed her first office at the CollegeVolents first career was as a distinguished art historian and conservator, and her first job out of college was in Bowdoins museum, not its treasury. The Office of Investments manages the combined Purdue Investment Pool (PIP) and the Purdue Investment Pool Cash (PIPC). But he was only hired in late 2016, and he had no pay for that position in CY2015. We'll never use your email for anything other than this newsletter. [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. Michael Cato Senior Vice President and Chief Information Officer. 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. who was hired by Bowdoin in 2000, oversees the College's $904 million endowment. Following a national search process, Jainen "JT" Thayer has been selected to be Grinnell's next chief investment officer (CIO). University of Chicago, MBA, Finance Affiliation: Office of the President. "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.". Despite the courts ruling, we believe disclosure of the Incentive Plan will put U-M at a competitive disadvantage, a school spokesman said. 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. 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. Today, Volent oversees a growing staff split between two offices in Brunswick and New York. 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.