Bowdoin College has promoted K. Niles Bryant to be the new CIO of its $1.8 billion endowment, effective July 1. It is invested globally across a diverse range of . In our last letter we featured Vickie Fuller, retiring CIO of the $200 billion New York State Common Retirement Fund. BOWDOIN MAGAZINE (ISSN: 0895-2604) is published three times a year by Bowdoin College, 4104 College Station, Brunswick, Maine, 04011. 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.". 6.0. . Chief Investment Officer Bowdoin College Jul 2021 . "Williams, Dartmouth, Tulane, and others maintain off-campus investment oversight offices," wrote Volent. Its a constantly evolving spectacle and The Skorina Letter gives readers a ringside seat. Read Bio Covid-19 Response Team. in 2008 and earned his J.D. Chief Marketing Officer at Blue Cross Blue Shield of Massachusetts. Sheri B. Bronstein '90, Ridgewood, New Jersey, Chief Human Resources Officer, Bank of America (2023), Visiting Committee on Environmental Studies Ryan Connolly '07, Wellesley Hills, MA, First Vice President and Private Wealth Advisor, Morgan Stanley PWM (2026) Charles T. Diamond '12, New York, New York, Deputy Chief of Staff, City of New York, Mayor's Office of Contract Services (2026 . Aerial views of campus with pops of brilliant fall color, thanks to local drone photographer Glenn Michaels. This relationship does not necessarily hold at smaller schools, but its pretty consistently true at the biggest ones. $1,981,536,000. An example is Douglas Phillips at University of Rochester. 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. Bowdoin College, Brunswick, Maine. 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. The stewardship of these resources includes the investment of the endowment and other financial . As a member of the Bowdoin Museum of Arts advisory board and an emeritus senior vice president, Volent will maintain the relationship with the College that she has remained committed to for over two decades. With the Tokyo 2020 marathon days away, we caught up with her to reflect on a few matters running-, and non-running, related. Maintaining an office in the country's financial capital will allow Volent to hire and retain top investment associates. 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. But the incentive formula is usually confidential. She will assume stewardship of the universitys endowment starting August 15. [Swensen] took me inhe had me filing at first, and over time, he got me working on projects, Volent said. Work. In a field still dominated by men, she has been nationally recognized for her standout success. 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. Niles Bryant will become the next senior vice president and chief investment officer at Bowdoin College. It was probably meant to motivate retention, with some or all of the accrued pay forfeited if the employee leaves too soon. It was echoed by the New York Post, with: Ex-pension chiefs cushy gas company gig raises eyebrows. Bowdoin didnt actually have an investments person [before me], so I came to Bowdoin working as the associate treasurer, Volent said. Ms. Volent, who has had the top investment position at the Brunswick, Maine-based college since the . President Barry Mills announced last night that he plans to remain at the helm of Bowdoin for at least five more years. 3.3.2023. The latest science discoveries delivered monthly to your inbox. About . Bryant started their career as an Associate at Winston & Strawn LLP from 1998 to 2000. Members were drawn from the board of trustees, faculty, administrative and support staff, student body, and alumni community and announced May 20, 2022, by trustees Sydney Asbury 03 and Bertrand Garcia-Moreno 81, P17, the search committees cochairs, and by Robert F. White 77, P15, chair of the board of trustees. 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. 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. Vice President of Campus Planning and. 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. Executives Listed on Filing. COVID-19 Testing and Response Team Specialist. In 2020, Volent was named one of the top 100 Most Influential Women in U.S. Finance by Barrons. Middlebury Institute of International Studies at Monterey Bowdoin College is pleased to announce that in-person events will be back this fall and the College looks forward to welcoming alumni, families, and friends for some of our most popular events and activities. Original content includes profiles and interviews with industry veterans and research on compensation and investment performance. Vickie Fuller, beginning with no special advantages, achieved success in both the corporate and non-profit spheres with a lifetime of hard work. From 2004 to 2008, Bryant was associate director of investments at the Carnegie Corporation of New York, one of the nations oldest private foundations, where he worked with Chief Investments Officer D. Ellen Shuman, a member of the Bowdoin Class of 1976. 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. Chief Investment Officers vs. University Presidents. We do observe that some contracts mandate a biggish base salary and smallish bonus; others, the opposite. [II Deep Dive:The Endowment Location Conundrum]. Accordingly, we wanted to list only CIOs who were the managers-of-record for that period so that pay could be usefully compared to performance. 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 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. She will leave Bowdoin having brought the value of the endowment to $1.8 billion as of the end of the last fiscal year, 387 percent growth from when she started. 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.. $1,249,740. 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. 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. Any comments made with an email address that does not belong to you will get removed. 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. Michael S. Hussey. Matthew G. Bibbens '92. Bowdoin College names new CIO. Bowdoin's investment team is collaborative, research oriented, and performance driven. Well-known alumni include John L. Flannery, who in 2017 was named chairman and chief executive officer of . We wanted this chart to be a book-end to our reporting of investment performance for FY2017. Matthew P. Orlando of Brunswick has been promoted to the position of senior vice president for finance and administration at Bowdoin . So many interesting people in finance have art history degrees or literature degrees, [that sort of background in] the liberal arts., Shes a wonderful example of what the liberal arts is all about and the power of the liberal arts, Rose said. E.g., the number for Mr. Pomeroy at Penn State is a very conservative estimate. University of Chicago, MBA, Finance 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. Although Volent did not disclose the distribution of her time between the two offices, she confirmed that she will work out of both. Read Bio . These are the employers against which the university competes for talent recruitment and retention.. "Our team, led by Senior Vice President and Chief Investment Officer Niles Bryant . Smith, who has served as the university's co-chief investment officer ad interim since March 2020, was chosen following an extensive national search. Our top earner Mr. Malpass at Notre Dame is deservedly well-paid and isnt going anywhere. They used a consultancy, Cambridge Associates, and it was something the treasurer did part-time.. This content is from:
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. In 2006, we hired Collette Chilton to the new position of Chief Investment Officer. Printed by Penmor Lithographers, Lewiston, Maine. 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. 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. 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. Beth Kowitt 07 Wins New York Press Club Award. Content from before 2017 is preserved on this site, but there are no updates. 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. At Rockefeller, we have enjoyed an enviable record of investment success under Amy Falls, says Bill Ford, chair of Rockefellers Board of Trustees. We doubt if anyone is going to top it. 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. General Manager Roberts 032 207-859-5464 [email protected] Colby College 4000 Mayflower Hill Waterville, ME 04901 207-859-4000. 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 beacon provides an assessment of a charity's financial health (financial efficiency, sustainability, and trustworthiness) and its commitment to governance practices and policies. 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. 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." Compensation for this key position is competitive. Associate VP and Chief Investment Officer. Today, Volent oversees a growing staff split between two offices in Brunswick and New York. Im sure I speak for my colleagues on the Board and in University leadership when I say how thrilled we are to be able to look forward to a continuation of the highest caliber of leadership with Paula Volent at the helm in the Universitys investment office., I have known Paula for almost twenty years, both professionally and personally, and I am deeply gratified that she will be coming to Rockefeller, says Scott Bessent, chair of the Investment Committee of the Board of Trustees. Location. Niles Bryant is the SVP and Chief Investment Officer at Bowdoin College. Rockefeller University has appointed Paula Volent vice president and chief investment officer to oversee its $2.5 billion endowment. But, we feel no such constraint. A search committee has been formed to identify the sixteenth president of Bowdoin College. She holds a masters in business degree from the Yale School of Management. Private schools and some publics disclose it in IRS filings. Benje Douglas Senior Vice President for Inclusion and Diversity. She exceeded even her mentor, the esteemed David Swensen, who was a close second with 11.7 percent. Search Bowdoin College Search. Bowdoin College's long-time chief investment officer Paula Volent is stepping down. Report this profile Report Report. The New York office will ostensibly aid Volent's management of the endowment in several ways. 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. A Bird's-Eye View of Fall Color on Campus. Niles then worked as an Associate at Dewey & LeBoeuf LLP from 2000 to 2001. Were not going to do any deep mathematical analysis here, but certain patterns are pretty obvious. 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. Upon graduating, he soon began working at the law firm, Debevoise . But, obviously, we could only report pay for CY2015 if the CIO had held the same job in that prior period. (In three volumes) Volume I. EDUCATION: Brandeis University, Bowdoin College. NYU's Endowment Fund provides a permanent source of capital to support the University's mission and programs. Erim began his current role at the RGA as Chief Financial Officer in August 2017. Bryants appointment is effective July 1, 2021. The Bowdoin College endowment generated an investment return of -7.1 percent for the fiscal year that ended June 30, 2022, a highly volatile period for financial markets that saw the S&P 500 and the NASDAQ lose 10.6 percent and 23.4 percent, respectively. Always free. 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. Without that, wed be in a very different place now with regards to access.. Skorina seeks CIO for $1.5 Billion portfolio. A recent and noisy case in point arose in Michigan. You seem to be browsing on a screen size, browser, or device that this website cannot support. And we need to give our thanks for that too., By NoahSaperstein • November 11, 2022, By MargaretBoyle • November 16, 2018, By MinaZanganeh and JulianaVandermark • 8 days ago. He received a big payout classified as other in calendar 2015. 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.. 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 . All rights reserved. He started in April as director of investments. She will assume stewardship of the university's endowment starting August 15. No Reproduction Without Prior Authorizations. Although the gross number had become public, the Detroit Free Press still sued the University to obtain details about how it was calculated. All investments are made through experienced investment managers with particular expertise in their markets of focus," she wrote. Bryant will succeed Paula Volent, who will step down at the end of June after more than 20 years on the job. Michigan State University and Sharon K. Basso. 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. from New York Universitys Institute of Fine Arts, and a B.A. 30. 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. . A strong background in fixed income/credit is necessary. Paula Volent, chief investment officer at Bowdoin College, will step down June 30. BOWDOIN COLLEGE BRUNSWICK, ME 04011-8445 | Tax-exempt since June 1935. 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. "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.". 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. 1K followers 500+ connections. The judge sided with the Freep, but the university argued that they had legitimate reasons for keeping them private. 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. Volent flies frequently to meet with investment mangers across the country, so a New York location should make traveling easier for her. However, Volents path to Brunswick wasnt through finance at all. 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. Todd M. Jones is Executive Vice President, Chief Financial Officer (CFO). Published October 05, 2022 by Bowdoin College. Niles has over 20 years of experience in the investment industry. For FY 2018 shes turned in the best performance weve seen reported so far, a 1-year return of 15.7 percent. President Kim Cassidy and the Board of Trustees deserve credit for that bold vision. CHIEF INVESTMENT OFFICER IS OPTIMIZED FOR. Over the past two decades, Volent has overseen a level of endowment growth unrivaled by any other institution in the country. Chief Investment Officer Brown University . Paula is unquestionably one of the most accomplished investment officers in the country, and we are thrilled that she has agreed to join us in this vital role, says Richard P. Lifton, Rockefellers president. "If you use your conservation skills on . 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. As the Lundberg case confirmed, these pay packages are complex. Prior to working in the investment industry, Volent was a paper conservator at the New-York Historical Society, the San Francisco Palace of Fine Arts, the LA County Museum of Art, and the National Gallery of Art in Washington, D.C., according to her biography on the museums website. But there are exceptions. Northwestern Mutual Chief Investment Officer Brent The Federal Reserve showed it can be nimble, hiking 75 percent this past week based on new data. It is not clear if this factor influenced the decision. What is a Chief Investment Officer? Williams is an S&P 500 company, so virtually every institutional investor on the planet has a piece of their equity. He will begin work in mid-September, following his relocation from New York City. In the corporate world, the CEO almost always commands the big bucks.
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