bowdoin college chief investment officer

I have great confidence that the Bowdoin endowment will be in the very best of hands going forward. This beacon provides an assessment of a charity's financial health (financial efficiency, sustainability, and trustworthiness) and its commitment to governance practices and policies. It was probably meant to motivate retention, with some or all of the accrued pay forfeited if the employee leaves too soon. Our chart shows W2 earnings only, paid in calendar year 2015 and taxable to the CIO. There are other explanatory factors: relative performance, geography, private vs. public, and even prestige of the school, but they are usually swamped by the size of the fund. 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. Were looking for a Chief Investment Officer to manage a $1.5 Billion investment portfolio. Bowdoin ranks only 69th by AUM (FY2017), but 10th by CIO compensation in 2015. Joshua Lawrence Chamberlain 1852, Bowdoin College professor (1855-62), Civil War brigadier general, Medal of Honor recipient, Maine governor (1867-71), and president of Bowdoin College (1871-83) Michael J. Connor 1980, USN Vice Admiral, Commander, Submarine Forces (2012-2015) Abraham Eustis 1806 (M.A. 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. Chief Marketing Officer at Blue Cross Blue Shield of Massachusetts. The latest science discoveries delivered monthly to your inbox. who was hired by Bowdoin in 2000, oversees the College's $904 million endowment. Friends and Colleagues Remember David Swensen, Top Returns at Midsize Endowments Challenge the Yale Model, U.S. Senate Has HELP for Retirement Plans, Modern Slavery Act Transparency Statement. 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.. In calendar year 2009the most recent for which data is availableshe was Bowdoin's highest paid employee, with a compensation package worth $772,873. 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. Over the duration of her career in Brunswick, Volent oversaw the growth of Bowdoins endowment from $465 million to its current $2.4 billion valuationgrowth which has fundamentally altered the Colleges financial capabilities and enabled it to be one of 19 need-blind colleges nationwide in its admissions policies and meet full demonstrated financial need with zero loans. [Swensen] took me inhe had me filing at first, and over time, he got me working on projects, Volent said. But they may get significant other items to round up their total. 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. Were convoluted, but were consistent. When Volent took on her position in the summer of 2000, Bowdoins endowment stood at just over $465 million; in the year ended June 30, 2020, the endowment had gained 5.9 percent, growing to $1.8 billion, providing nearly $72 million to the annual operations of the College last year, including $33 million for need-based financial aid. 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. Rockefellers research-oriented, biochem-heavy institutional values will present new opportunities for Volent. She will assume stewardship of the university's endowment starting August 15. Chief investment officer pay at 74 top endowments; Skorina seeks a chief investment officer; Vickie Fuller: The after-life of a CIO; . 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. Its a constantly evolving spectacle and The Skorina Letter gives readers a ringside seat. [II Deep Dive:The Endowment Location Conundrum]. 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. E.g., the number for Mr. Pomeroy at Penn State is a very conservative estimate. A native of Warwick, Rhode Island, Mills graduated cum laude with a double major in biochemistry and government from Bowdoin College in 1972. 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. If she now has a chance to be properly compensated by helping to manage an $8 billion energy company, then more power to her. As the Lundberg case confirmed, these pay packages are complex. A recent and noisy case in point arose in Michigan. WE'RE NOT ALONG: The investment office now has a satellite office in NYC. But the incentive formula is usually confidential. She will assume stewardship of the universitys endowment starting August 15. The hitch is the long time-lag more than two years before the data is publicly available. Benje Douglas Senior Vice President for Inclusion and Diversity. 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. Governance; Administration; President Clayton Rose; Selected Speeches and Writings; Past Presidents ; Student Office Hours; 255 Maine Street Brunswick . Niles has over 20 years of experience in the investment industry. Total Salary includes financial earnings, benefits, and all related organization earnings listed on tax filing. Bowdoin College's endowment return of 14.4 percent -- the best among schools so far this year -- was fueled by a portfolio built around top-performing private equity and hedge funds, said . And, we highly doubt Ms. Fuller was looking for a cushy job when she accepted an offer from Williams. Chief Investment Officers are high-level executives in charge of managing their organization's investment portfolios. And, we see no reason why we shouldnt share some of that bounty with our readers. If youre interested, send me your resume. "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.". 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. Led by Chief Investment Officer Mauricia Geissler and operating under the guidance of Amherst's Investment Committee, the Amherst College Investment Office is . $1,981,536,000. He started in April as director of investments. In a 2007 article published in The Williams Record, Chilton cited greater access to investors as the principal reason for the move. 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. There's not much that hasn't been long since said. Culture, This content is from: The endowment provides a permanent source of funding for such purposes as financial aid, faculty chairs, scholarly research and writing, student . EIN: 01-0215213; Classification Undergraduate College (4-year) . While Harvard is the most conspicuous case, a few other CIOs are also MIA in this chart for similar reasons. 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. After Over 20 Years at Bowdoin, CIO Paula Volent Is Bowing Out, This content is from: Bowdoin didnt actually have an investments person [before me], so I came to Bowdoin working as the associate treasurer, Volent said. Culver Academies, 6080 N. Sabino Shadow Lane | Tucson, AZ 85750 | 520-529-5677, Jane Dietze, promoted to CIO at Brown University, Compensation and chief investment officers, New York Pension Chief Cashes in on Natural Gas, Ex-pension chiefs cushy gas company gig raises eyebrows, Estimated Compensation for Six-Person Family Office. Im going to stay very much involved with the College when I leave.. Download pdf of bio. 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. She succeeds Amy Falls, who is leaving the post this spring . . A search committee has been formed to identify the sixteenth president of Bowdoin College. Thayer comes to Grinnell from the Oberlin College Investment Office in New York City, where he served as CIO. Corner Office. Data Engineer @ Recorded Future Individual Tutor @ Bowdoin College Information Technology Technician @ Bowdoin College see more Tulsa-based Williams processes and transports natural gas, so what followed was annoying but predictable. 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. Retained Executive Search Today, Volent oversees a growing staff split between two offices in Brunswick and New York. Beth Kowitt 07 Wins New York Press Club Award. In 2020, Volent was named one of the top 100 Most Influential Women in U.S. Finance by Barrons. Some things might look and act a little weird. But there are exceptions. 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. By RebeccaNorden-Bright • May 14, 2021. Advised the Chief Investment Officer to build from scratch IFC's 7.4+ billion global, ESG . In 2004, they joined Carnegie Corporation of New York as the Associate Director of Investments . Following a national search process, Jainen "JT" Thayer has been selected to be Grinnell's next chief investment officer (CIO). 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. 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. 207-786-6103. mhussey@bates.edu. Investment . DeGraff earned her master's and doctorate . 29. Our top earner Mr. Malpass at Notre Dame is deservedly well-paid and isnt going anywhere. A Bowdoin spokesperson declined to comment on where Volent is headed next or who her replacement will be. "If you use your conservation skills on . And, even when public-school CIO comp is published, it cant always be trusted. Liked by Aiden MacNeil Here I was, an art person, Volent said. Read Bio . Were not going to do any deep mathematical analysis here, but certain patterns are pretty obvious. Before embarking on her career in investment management, Volent worked as an art conservator specializing in the conservation of art on paper. On July 1, Paula Volent, Bowdoins chief investments officer, will be stepping down from her position after more than two decades of service to the College. Chief Investment Officer - CIO: A chief investment officer is an executive position responsible for managing a company's investment portfolios.