bowdoin college chief investment officer

K. Niles Bryant was named senior vice president and chief investment officer at Bowdoin College. "Williams, Dartmouth, Tulane, and others maintain off-campus investment oversight offices," wrote Volent. Michael S. Hussey. Beth Kowitt 07 Wins New York Press Club Award. On June 30, 2020, the endowment was valued at $1.8 billion and provided $71.8 million to the annual operations of the College. 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. Financial services and technology are . or (OCIO firm) . 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. 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 . But, obviously, we could only report pay for CY2015 if the CIO had held the same job in that prior period. Governance; Administration; President Clayton Rose; Selected Speeches and Writings; Past Presidents ; Student Office Hours; 255 Maine Street Brunswick . The reader should also be warned that pay for a given year, while accurate, is not always typical for that CIO. Chief investment officer pay at 74 top endowments; Skorina seeks a chief investment officer; Vickie Fuller: The after-life of a CIO; . He earned an undergraduate degree in classical archaeology at the University of Michigan and a law degree at the Duke University School of Law, as well as an MBA from Dartmouth Colleges Tuck School of Business. BOWDOIN COLLEGE BRUNSWICK, ME 04011-8445 | Tax-exempt since June 1935. Corner Office. Bryant will take the helm a little more than a year after joining Bowdoins investment office. Bowdoins investment return, while negative, compares favorably with equity and bond markets, which registered losses in the double digits over this very challenging period, said Bowdoin President Clayton Rose. General Manager Roberts 032 207-859-5464 [email protected] Colby College 4000 Mayflower Hill Waterville, ME 04901 207-859-4000. 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. 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. Bowdoin College - Mid-career pay: $135,900 . But its been like pulling teeth in many places. Paula Volent, 63, the chief investment officer of Bowdoin College's endowment, sees similarities between art conservation and investment management. in 2008 and earned his J.D. And, we highly doubt Ms. Fuller was looking for a cushy job when she accepted an offer from Williams. 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.. 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. 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. Paula Volent, chief investment officer at Bowdoin College, will step down June 30. Advised the Chief Investment Officer to build from scratch IFC's 7.4+ billion global, ESG . 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. 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. But, we feel no such constraint. Chief Investment Officer Brown University . Volent flies frequently to meet with investment mangers across the country, so a New York location should make traveling easier for her. She holds a masters in business degree from the Yale School of Management. Volent changed her mind after chatting with a friend of a friend who was a dean at the Yale School of Management and was accepted after deciding to apply on a whim. The same week she was to formally confirm the acceptance, however, she got another job offer from the National Gallery of Art in Washington, D.C. Volent deferred her Yale acceptance to take the job, but after realizing how much of her work at the National Gallery was supported by endowments and dealt with budgeting and finance, she decided after a year and a half to accept the standing offer from Yale and enroll in business school full time. Compensation is a delicate issue; but recruiters need to keep track of it. Tucson, AZ 85750 Forty-nine percent of Bowdoins first-year class receives need-based financial aid, a percentage that continues to grow. 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. Orlando named chief financial officer at Bowdoin College. (Compensation as of calendar year-end 2015. 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. And experience with manager search and selection in opportunistic credit is highly desirable. In a very few cases we estimated comp based on our industry knowledge, rather than omitting a major school. 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. Financial services and technology are . During the fiscal year, the endowment provided $81 million to the annual operations of the College, and because the actual cost of educating a student at Bowdoin is approximately $114,000, the endowment subsidizes every student, not just those receiving aid. But in big-time academia, CEO pay often trails the CIO and probably the football and basketball coaches as well. Niles exceptional experience and skills, his record of achievement, and his deep commitment to Bowdoins mission make him the ideal person to succeed Paula, Bowdoin President Clayton Rose said in a statement. Printed by Penmor Lithographers, Lewiston, Maine. President Barry Mills announced last night that he plans to remain at the helm of Bowdoin for at least five more years. Volent joins Rockefeller after two decades as chief investment officer for Bowdoin College, where she oversaw an endowment that grew from $465 million to $1.8 billion during her tenure. And, if youre crafting a competitive offer, it certainly helps to know exactly what you have to beat. 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. I have great confidence that the Bowdoin endowment will be in the very best of hands going forward. 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. Bryant will succeed Paula Volent, who will step down at the end of June after more than 20 years on the job. 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. I think that I am a better investor for my background in the liberal arts, Volent said. 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. It would be highly misleading to ascribe that comp to Mr. Narvekar, so we didnt. The stewardship of these resources includes the investment of the endowment and other financial . The Investment Committee has oversight responsibility for the . Chief Investment Officer - CIO: A chief investment officer is an executive position responsible for managing a company's investment portfolios. $1,249,740. Here are our top-ten highest paid endowment chief investment officers for calendar year-end 2015 compared to the pay of their respective presidents in the same period. Despite the courts ruling, we believe disclosure of the Incentive Plan will put U-M at a competitive disadvantage, a school spokesman said. 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. Paula Volent. Bowdoin College. 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. The Bowdoin endowment consists of more than 1,700 individual funds earmarked for the perpetual support of a variety of College initiatives. 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. Rockefellers research-oriented, biochem-heavy institutional values will present new opportunities for Volent. Other, non-W2 items benefitting the CIO are often reported to the IRS (and are sometimes substantial) but we omit them for our purposes. Or, you can file a FOIA request. She will join the . Prior issues can be found in archives on our website, Charles Skorina & Company It was in Los Angeles that Volent got her first introduction to finance, as she took a few classes on the side to help her as she began running her own business. We doubt if anyone is going to top it. NYU's Endowment Fund provides a permanent source of capital to support the University's mission and programs. What we cant do is explain how these numbers were arrived at. Niles is uniquely positioned for this leadership position at Bowdoin, Volent said in a statement. 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. Niles Bryant Senior Vice President and Chief Investment Officer. The official University of Michigan salary-disclosure listing (page 447) for 2017 showed CIO Erik Lundbergs total comp as $720,000. VICE PRESIDENT OF STUDENT AFFAIRS. Fortress Investment Group . Gregg Abella is CEO and Portfolio Manager at Investment Partners Asset Management. As the Lundberg case confirmed, these pay packages are complex. Officer. 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. They used a consultancy, Cambridge Associates, and it was something the treasurer did part-time.. Lewiston, Maine 04240. Total comp: considerably more than 990 filing, Some observations and a quick look at CIO vs. presidential pay, We mostly follow the industry-standard AUMs reported to NACUBO, but we depart from them in a few cases. Courtesy of Arthur Cohen Investment Guru In 2015, Paula Volent, the highest paid employee in the NESCAC, earned nearly one million dollars more than the previous year. As Volent leaves Brunswick, she will leave big shoes for her replacement, Niles Bryant, current director of investments, to fill. 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. This positions the College very well to continue our focus on supporting every student in need who has earned a spot at Bowdoin and to fund other important initiatives at the College.. US Army Russian Linguist, Japan Bowdoin only recently broke into the billion-plus club, but Ms. Volent a Yale Investment Office alumna has been consistently over-performing for years. He graduated from Purdue University with a B.A. After Over 20 Years at Bowdoin, CIO Paula Volent Is Bowing Out, This content is from: Todd M. Jones is Executive Vice President, Chief Financial Officer (CFO). 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. who was hired by Bowdoin in 2000, oversees the College's $904 million endowment. Total Salary includes financial earnings, benefits, and all related organization earnings listed on tax filing. Volent will join the biomedical research institution this summer from Bowdoin College, where she led the $2 billion endowment for the past two decades. Niles Bryant will become the next senior vice president and chief investment officer at Bowdoin College. 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. Ammon, Peter H. U of Pennsylvania. Each issue explores how the worlds most accomplished asset managers think and invest. With the Tokyo 2020 marathon days away, we caught up with her to reflect on a few matters running-, and non-running, related. The IRS requires a certain degree of granularity and, in most cases, we see items for base salary, bonus, other, and total. At the time, endowments for little schools like Bowdoin didnt have any alternatives [to invest in] like private equity or venture capital. Middlebury Institute of International Studies at Monterey Everett, Massachusetts, United States. Work at the Investment Office centers on selecting and monitoring investment . The contracts at the larger endowments are often custom-crafted in negotiations between employer and employee, and no two are exactly the same. Many details about the office remain unknown: Volent did not specify where in New York City the office is located, its physical size, or if there is a possibility that it will become the College's primary office in the future. What is a Chief Investment Officer? Search Bowdoin College Search. Jean's life was one of great love and devotion for her husband, David, with whom she was . In calendar year 2009the most recent for which data is availableshe was Bowdoin's highest paid employee, with a compensation package worth $772,873. Jun 2018 - Aug 20183 months. 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. Paula Volent '97 will be the next chief investment officer of Rockefeller University, with responsibility for managing its $2.5 billion endowment, the New York City research university announced. E.g., the number for Mr. Pomeroy at Penn State is a very conservative estimate. 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. Mr. Phillips is an effective and well-credentialed CIO and Rochester, understandably, wants to fend off offers from other, bigger schools. Endowments Should Abandon Alts for Passive Investments, Report Says. 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. Bowdoin College, Brunswick, Maine. - Conducted research . skorina@charlesskorina.com 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. The chief investment officer (CIO) usually oversees . Download pdf of bio. Are Defined Benefit Pension Funds Still Useful Recruiting, Retention Tools? Kathy Weiler oversees market strategy, product development, brand management . (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.). Location. The two-year lag in comp reporting is annoying, although we get to blame the IRS. Its all possible thanks to funding secured by the McKeen Center and the Office of Career Exploration and Development. The endowment provides a permanent source of funding for such purposes as financial aid, faculty chairs, scholarly research and writing, student . Sharon K. Basso. 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. Paula Volent, senior vice president for investments, wrote in an email to the Orient that the impetus for opening the office was "to attract and retain experienced professional talent for the oversight of Bowdoin's endowment portfolio.". It is not clear if this factor influenced the decision. 1K followers 500+ connections. June 07, 2018. The Orient was unable to confirm if this is the case; beyond the statement issued by Volent, senior administrators contacted for this story declined to comment, as did several trustees and faculty with knowledge of the move. 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]. As an extra, added bonus for those who have read this far, lets take a quick look at CIO vs. presidential pay at a few major schools. There are probably other cases of non-typical payouts on the list, but we cant identify all of them. 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. A little background: Mills, who has a fondness for telling golf stories, described in his address an interaction which occurred during a golf match this summer. Washington, District of Columbia, United States. $10.7. 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. In 2006, we hired Collette Chilton to the new position of Chief Investment Officer. 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. No Reproduction Without Prior Authorizations. Bowdoin Colleges long-time chief investment officer Paula Volent is stepping down. 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. Chief Marketing Officer at Blue Cross Blue Shield of Massachusetts. She will assume stewardship of the university's endowment starting August 15. . Content from before 2017 is preserved on this site, but there are no updates. Were looking for a Chief Investment Officer to manage a $1.5 Billion investment portfolio. Rockefeller's endowment, valued at $2.5 billion, is a crucial source of revenue for the university, contributing nearly 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. 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. 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. 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 . According to the Associated Press, Gwen Lexow, Bates director of Title IX and civil rights compliance, wrote in an email to students that said she heard members of the Bates community expressing deep concern about the impact of the language contained in the flyers and graffiti, particularly on Jewish members of our campus community. Skorina seeks CIO for $1.5 Billion portfolio. 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. (The smaller TAM Foundation is managed separately.). News & Research forInvestmentLeaders, J.P. Morgan Credit and risk management Office of the President. EIN: 01-0215213; Classification Undergraduate College (4-year) . 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. This was a difficult decision, but after more than twenty years, I am excited about writing a new chapter and taking on new challenges.. Bowdoin College - Mid-career pay: $135,900 . Under Fallss leadership, Rockefellers investment team returned consistent top-decile growth of the Universitys endowment over the past decade. 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. 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. We should also mention that we used a $1 billion AUM lower bound for this list. Summer research assistant in the Department of Botany at the National Museum of Natural History. Bowdoin College. Niles has over 20 years of experience in the investment industry. AND DEAN OF THE FACULTY AND BOSWELL PROFESSOR OF ECONOMICS. Presidential pay is structured very differently from a CIOs. This relationship does not necessarily hold at smaller schools, but its pretty consistently true at the biggest ones. The Endowment is managed by a professional investment staff within the NYU Investment Office. More From Investment Office. He holds degrees from Bowdoin College, University of St. Andrews, and University of Connecticut School of Law. But the incentive formula is usually confidential. But there are exceptions. Here are their stories. Join our social media network for updates from our campus and our labs. Office of the President. April 16, 2021. You seem to be browsing on a screen size, browser, or device that this website cannot support. 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. And, we see no reason why we shouldnt share some of that bounty with our readers. Bowdoin ranks only 69th by AUM (FY2017), but 10th by CIO compensation in 2015. Administration. DeGraff earned her master's and doctorate . He almost certainly makes more. About . In our last letter we featured Vickie Fuller, retiring CIO of the $200 billion New York State Common Retirement Fund. 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. (SVP/CHIEF INVESTMENT OFFICER) $4,170,808: CHRIS PICCIONE (ENDOWMENT CHIEF OPS OFFICER) $501,321: CLAYTON ROSE . The speech was well-received, and the school year proceeded. Williams is an S&P 500 company, so virtually every institutional investor on the planet has a piece of their equity. Bowdoin has established a second investment office in New York City, College officials confirmed this week. The hitch is the long time-lag more than two years before the data is publicly available. 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. We wanted this chart to be a book-end to our reporting of investment performance for FY2017. "Our team, led by Senior Vice President and Chief Investment Officer Niles Bryant . 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. Bryant will succeed Paula Volent, who will step down at the end of June after more than 20 years on the job. (latest available public filings), California Institute of Technology (Caltech), * Rob Wallace, Stanford, start date July 2015. 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. 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.

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