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Conn. Williams hired Collette Chilton as its chief investment officer in 2006 and opened the Boston office shortly after. 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. Benje Douglas Senior Vice President for Inclusion and Diversity. While Harvard is the most conspicuous case, a few other CIOs are also MIA in this chart for similar reasons. 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. 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.. The latest science discoveries delivered monthly to your inbox. 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. All investments are made through experienced investment managers with particular expertise in their markets of focus," she wrote. DeGraff earned her master's and doctorate . 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. 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. Although Volent did not disclose the distribution of her time between the two offices, she confirmed that she will work out of both. EDUCATION: Brandeis University, Bowdoin College. 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. Ernst & Young Systems and process consulting 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. 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. Weve been skeptical of that number for a while, but the U was eventually prodded into disclosing that Mr. Lundberg actually made $2 million in 2017. I said, No, Im an artist, of course not!. 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. A recent and noisy case in point arose in Michigan. Despite the courts ruling, we believe disclosure of the Incentive Plan will put U-M at a competitive disadvantage, a school spokesman said. The Lewiston Police Department (LPD) has referred graffiti written in chalk on the campus of Bates College to the Maine attorney general, who is investigating the case as a possible hate crime. 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. But he was only hired in late 2016, and he had no pay for that position in CY2015. 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. For all of those things that we understand to be the liberal arts and the power of it, shes demonstrated that you can have success in one area and then have the capabilities, the skills, the underlying education to be able to pivot and then have success in another.. Bowdoins endowment consists of more than 1,700 individual funds earmarked for the perpetual support of a variety of College initiatives. Financial services and technology are . The New York office will ostensibly aid Volent's management of the endowment in several ways. 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. Aerial views of campus with pops of brilliant fall color, thanks to local drone photographer Glenn Michaels. Copyright 20042023 The Rockefeller University. This relationship does not necessarily hold at smaller schools, but its pretty consistently true at the biggest ones. Bryant started their career as an Associate at Winston & Strawn LLP from 1998 to 2000. Bowdoin ranks only 69th by AUM (FY2017), but 10th by CIO compensation in 2015. Advised the Chief Investment Officer to build from scratch IFC's 7.4+ billion global, ESG . The corresponding data for most public schools is often fresher, but its scattered among various and often quirky databases in various jurisdictions with various disclosure rules. Prior to moving into the financial sector, Bryant was an associate at the New York City law firms of Dewey Ballantine and Winston & Strawn. Download pdf of bio. In the corporate world, the CEO almost always commands the big bucks. 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. Capital Projects, and Special Counsel. 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. CHIEF INVESTMENT OFFICER IS OPTIMIZED FOR. [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. At the time, endowments for little schools like Bowdoin didnt have any alternatives [to invest in] like private equity or venture capital. 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. Chief Investment Officer Bowdoin College Jul 2021 . 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. Mr. Phillips is an effective and well-credentialed CIO and Rochester, understandably, wants to fend off offers from other, bigger schools. 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. Beth Kowitt 07 Wins New York Press Club Award. 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. We doubt if anyone is going to top it. Bryant will succeed Paula Volent, who will step down at the end of June after more than 20 years on the job. 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. He graduated from Purdue University with a B.A. Bowdoin only recently broke into the billion-plus club, but Ms. Volent a Yale Investment Office alumna has been consistently over-performing for years. NYU's Endowment Fund provides a permanent source of capital to support the University's mission and programs. Sharon K. Basso. Were convoluted, but were consistent. Following the U.S. Department of States (DOS) decision to merge its travel advisories with those set by the Centers for Disease Control and Prevention (CDC), these students were notified during the first round of course registration that, if they were traveling to a country that the DOS had just categorized as Level 4, they were strongly encouraged to withdraw from their prospective study abroad status with Bowdoin and register for courses. 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 this 2011 revival, Bowdoin students tell the Orient about their experiencesgood, bad, or just extreme. Officer. The most obvious one here is Paula Volent at Bowdoin College. In the first of a series of fireside chats with this years honorary degree recipients, the College welcomed DeRay Mckesson 07 H21, a Black Lives Matter activist and host of the podcast Pod Save the People, in a virtual conversation moderated by Beth Kowitt 07, a journalist for Fortune Magazine. About; Bookstore; Campus Map; Colby Magazine; Dare Northward; Dining . Kathy Weiler oversees market strategy, product development, brand management . In 2020, she was named one of the 100 Most Influential Women in U.S. Finance by Barrons. The Endowment is managed by a professional investment staff within the NYU Investment Office. The hitch is the long time-lag more than two years before the data is publicly available. Base salaries for presidents and CIOs at major schools may not be very different, but the big performance bonuses paid to the CIO can leave him or her making two or three times the presidents total. I feel like in investing, that approach has carried over. 5700 College Station (207) . Thirty-seven years ago, on Aug. 5, 1984, Joan Benoit Samuelson won the first-ever women's Olympic marathon. Niles Bryant will become the next senior vice president and chief investment officer at Bowdoin College. If she now has a chance to be properly compensated by helping to manage an $8 billion energy company, then more power to her. 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. Bowdoin College has earned a 100% for the Accountability & Finance beacon. She holds a masters in business degree from the Yale School of Management. They used a consultancy, Cambridge Associates, and it was something the treasurer did part-time.. 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. 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. 3.3.2023. AND DEAN OF THE FACULTY AND BOSWELL PROFESSOR OF ECONOMICS. (Barker) Bordo. President Barry Mills announced last night that he plans to remain at the helm of Bowdoin for at least five more years. 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. Bowdoin College has promoted K. Niles Bryant to be the new CIO of its $1.8 billion endowment, effective July 1. Paula Volent. I continued to work at the investments office, and when I graduated, I was a good writer, and he asked me to stay on and help him write his book, Pioneering Portfolio Management, and work as a senior associate there working on all different asset classes.. Vice President for Institutional Affairs. 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. Corner Office. Bryant will take the helm a little more than a year after joining Bowdoins investment office. We need a senior investment officer with experience at a top-tier asset owner such as an insurer, health system, endowment, foundation, pension fund, family office, or institutional asset manager. She announced in February that she would be stepping down as senior vice president and chief investment officer at the college on June 30. $10.5. A strong background in fixed income/credit is necessary. 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. I look forward to working with Niles over the next four months to facilitate a smooth leadership transition.. April 16, 2021. Led by Chief Investment Officer Mauricia Geissler and operating under the guidance of Amherst's Investment Committee, the Amherst College Investment Office is . 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. Chief Investment Officer - CIO: A chief investment officer is an executive position responsible for managing a company's investment portfolios. This content is from: In a 2007 article published in The Williams Record, Chilton cited greater access to investors as the principal reason for the move. 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. Michael Cato Senior Vice President and Chief Information Officer. 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. (See our complete compensation chart just below.). He will begin work in mid-September, following his relocation from New York City. 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. This support includes enabling expanded access, subsidizing tuition for every student, paying for the best teachers and facilities, creating knowledge and supporting basic operations. All rights reserved. Before joining Bowdoin, Volent worked at Yale University under CIO David Swensen. A Bird's-Eye View of Fall Color on Campus. 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. 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. 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. Always free. Rockefeller University has appointed Paula Volent vice president and chief investment officer to oversee its $2.5 billion endowment. Under Fallss leadership, Rockefellers investment team returned consistent top-decile growth of the Universitys endowment over the past decade. 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. 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. Ms. Volent, who has had the top investment position at the Brunswick, Maine-based college since the . The portfolio is structured with a long-term time horizon, with portfolio diversification and manager selection directed toward protecting endowment capital in challenging investment environments, while growing those assets during periods of economic stability and growth. Over the course of Volents tenure, the endowment has grown from just over $465 million in the summer of 2000 to $1.8 billion as of June 30, 2020, according to Bowdoins announcement. She succeeds Amy Falls, who is leaving the post this spring . 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. The endowment portfolio is diversified across different asset classes, including domestic and international equities, fixed income, private equity, venture capital, real estate, and absolute return strategies. What we cant do is explain how these numbers were arrived at. She will assume stewardship of the university's endowment starting August 15. Well-known alumni include John L. Flannery, who in 2017 was named chairman and chief executive officer of . COVID-19 Testing and Response Team Specialist. If you have a friend or colleague who might be suitable, please spread the word. K. Niles Bryant was named senior vice president and chief investment officer at Bowdoin College. And, even when public-school CIO comp is published, it cant always be trusted. Middlebury Institute of International Studies at Monterey Affiliation: Office of the President. Matthew G. Bibbens '92. Matthew P. Orlando of Brunswick has been promoted to the position of senior vice president for finance and administration at Bowdoin . We wanted this chart to be a book-end to our reporting of investment performance for FY2017. 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. Maintaining an office in the country's financial capital will allow Volent to hire and retain top investment associates. In our chart below, we can only offer the bare numbers. It was echoed by the New York Post, with: Ex-pension chiefs cushy gas company gig raises eyebrows. 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. Search Bowdoin College Search. A search committee has been formed to identify the sixteenth president of Bowdoin College. 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. VICE PRESIDENT FOR ACADEMIC AFFAIRS. 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.. Then, at the end of July, the publicly-listed Williams Companies (NYSE: WMB) announced her appointment to their board. 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 our last letter we featured Vickie Fuller, retiring CIO of the $200 billion New York State Common Retirement Fund. But, obviously, we could only report pay for CY2015 if the CIO had held the same job in that prior period. The directory includes famous graduates and former students along with research and academic staff. "It has been a great honor to oversee Bowdoin's endowment," said Volent. 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. Vice President of Campus Planning and. WALDOBORO Jean Meredith (Bordo) Lawrence, 83, of Waldoboro, passed away peacefully on Monday, February 27, 2023. In 2004, they joined Carnegie Corporation of New York as the Associate Director of Investments . The College is launching a podcast series, tapping into the reservoir of talent contained in the Bowdoin community. Bowdoin College's long-time chief investment officer Paula Volent is stepping down. We'll never use your email for anything other than this newsletter. Zorina Khan on the Role of Prizes in Driving Innovation, Professor of Economics Zorina Khan shares her expertise and insights into the realms of economic history and technological progress with. Volent will join the biomedical research institution this summer from Bowdoin College, where she led the $2 billion endowment for the past two decades. Bowdoin College is 438th in the world, 175th in North America, and 163rd in the United States by aggregated alumni prominence. Paula Volent, chief investment officer at Bowdoin College, will step down June 30. Bowdoin didnt actually have an investments person [before me], so I came to Bowdoin working as the associate treasurer, Volent said. These are the employers against which the university competes for talent recruitment and retention.. Paula Volent was named vice president and chief investment officer of The Rockefeller University, New York, where she will oversee the management of its $2.3 billion endowment. Washington, District of Columbia, United States. The chief investment officer (CIO) usually oversees . Bowdoin College. Patricia Ribeiro Promoted to Co-CIO of Global Growth Equity at American Century Investments. A native of Warwick, Rhode Island, Mills graduated cum laude with a double major in biochemistry and government from Bowdoin College in 1972. "Our team, led by Senior Vice President and Chief Investment Officer Niles Bryant . Niles Bryant Senior Vice President and Chief Investment Officer. Bowdoin has established a second investment office in New York City, College officials confirmed this week. 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. Back Submit. In 2020, Volent was named one of the top 100 Most Influential Women in U.S. Finance by Barrons. The reader should also be warned that pay for a given year, while accurate, is not always typical for that CIO. (latest available public filings), California Institute of Technology (Caltech), * Rob Wallace, Stanford, start date July 2015. But over 5 years Bowdoin beat him by 170 basis points! 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. Williams is an S&P 500 company, so virtually every institutional investor on the planet has a piece of their equity.