What is a Chief Investment Officer? In the corporate world, the CEO almost always commands the big bucks. And, we see no reason why we shouldnt share some of that bounty with our readers. Bowdoin College Apr 2012 - Nov 2013 1 year 8 months. 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. This is the Bowdoin Orient's archive site. A native of Warwick, Rhode Island, Mills graduated cum laude with a double major in biochemistry and government from Bowdoin College in 1972. Alice A. Ruth '83 (Photo courtesy of Alice A. Ruth '83) Highly regarded and experienced investment manager Alice A. Ruth '83 has been named Dartmouth's chief investment officer, the College announced today. 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. There are probably other cases of non-typical payouts on the list, but we cant identify all of them. Ernst & Young Systems and process consulting Clever college administrators have sometimes found (or constructed) loopholes in those sunshine laws which let them conceal part of the CIO pay-package. She succeeds Amy Falls, who is leaving the post this spring . Office of the President. 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. The two-year lag in comp reporting is annoying, although we get to blame the IRS. Our top earner Mr. Malpass at Notre Dame is deservedly well-paid and isnt going anywhere. CIO; PLANADVISER; PLANSPONSOR; 702 King Farm Boulevard, Suite 400, Rockville . 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." I have great confidence that the Bowdoin endowment will be in the very best of hands going forward. 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. With the Tokyo 2020 marathon days away, we caught up with her to reflect on a few matters running-, and non-running, related. Bowdoin College has promoted K. Niles Bryant to be the new CIO of its $1.8 billion endowment, effective July 1. We pointed out in our letter that she appeared to be underpaid compared to (male, white) CIOs running comparably big public pensions. She intimated to us that she was considering a board position, but that she hadnt yet pulled the trigger. CIO compensation is primarily a function of AUM. E.g., the number for Mr. Pomeroy at Penn State is a very conservative estimate. 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. At the time, endowments for little schools like Bowdoin didnt have any alternatives [to invest in] like private equity or venture capital. All rights reserved. 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. 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.". 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. Administration. She has almost 19 years on the job and her comp reflects how badly her board would like to keep her. The financial press has called Volent one of the savviest investors in the non-profit world and a pioneer in a male-dominated field. In 2020, Volent was included in Barrons list of 100 Most Influential Women in US Finance., Beth Kowitt 07 Wins New York Press Club Award, Alex Marzano-Lesnevich and a Double Dose of Joy and Empowerment in Two New York Times Pieces, Its perhaps a sign of the times that Alex Marzano-Lesnevich has been, Purnell Tells "Brooklyn Resists" Story in Outdoor Installation, On June 19, Juneteenth, the holiday celebrating the emancipation of those who had been enslaved in this country, the outdoor installation, Do Big Bucks Bring Big Rewards? Bowdoin College Names K. Niles Bryant CIO, Massachusetts Pension Fund Increases Corporate Diversity Standards. Over the past two decades, Volent has overseen a level of endowment growth unrivaled by any other institution in the country. Bowdoin Colleges long-time chief investment officer Paula Volent is stepping down. 7.7. Prior to moving into the financial sector, Bryant was an associate at the New York City law firms of Dewey Ballantine and Winston & Strawn. Niles Bryant will become the next senior vice president and chief investment officer at Bowdoin College. 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. 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. About half the schools in the $500 million $1 billion range also have a dedicated CIO or equivalent, but they are omitted here, however well paid they may have been. 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. No hate speech, profanity, disrespectful or threatening comments. Without that, wed be in a very different place now with regards to access.. Volent will join the biomedical research institution this summer from Bowdoin College, where she led the $2 billion endowment for the past two decades. VICE PRESIDENT OF STUDENT AFFAIRS. Before joining Bowdoin, Volent worked at Yale University under CIO David Swensen. The Investment Office team and the Institute's Board of Trustee Investment Committee's goal is to provide increased support for the Institute's academic and research programs . The average Community Reinvestment Officer salary in Abbot, ME is $78,226 as of February 27, 2023, but the range typically falls between $55,781 and $98,510. Bowdoin College - Mid-career pay: $135,900 . Maintaining an office in the country's financial capital will allow Volent to hire and retain top investment associates. CHIEF INVESTMENT OFFICER IS OPTIMIZED FOR. You seem to be browsing on a screen size, browser, or device that this website cannot support. Her 5-year return as of FY2017 was the highest of any major endowment at 11.9 percent. Lane Hall, Room 214C. 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. 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. Ammon, Peter H. U of Pennsylvania. 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. 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. Chief Investment Officer - CIO: A chief investment officer is an executive position responsible for managing a company's investment portfolios. 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. Upon graduating, he soon began working at the law firm, Debevoise . A strong background in fixed income/credit is necessary. He started in April as director of investments. 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.". Chief. In this section. We'll never use your email for anything other than this newsletter. 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. "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.". A source with knowledge of the decision, who asked to remain anonymous because they were not authorized to discuss the office, said that attracting talented financial professionals to Brunswick had been difficult, as the majority of them make their careers in New York. After Over 20 Years at Bowdoin, CIO Paula Volent Is Bowing Out, This content is from: But they may get significant other items to round up their total. Im going to stay very much involved with the College when I leave.. She announced in February that she would be stepping down as senior vice president and chief investment officer at the college on June 30. (latest available public filings), California Institute of Technology (Caltech), * Rob Wallace, Stanford, start date July 2015. 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. But the incentive formula is usually confidential. Is Yales Endowment the New Tiger Management? Its my home. Chief Investment Officer Bowdoin College Jul 2021 . Most recently, he served on the investments team as director of real assets at the Gordon and Betty Moore Foundation, a Bay Area private foundation with an $8 billion endowment. 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. Were looking for a Chief Investment Officer to manage a $1.5 Billion investment portfolio. BOWDOIN COLLEGE BRUNSWICK, ME 04011-8445 | Tax-exempt since June 1935. Total Salary includes financial earnings, benefits, and all related organization earnings listed on tax filing. Before submitting a comment, please review our comment policy. There's not much that hasn't been long since said. 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. Todd M. Jones is Executive Vice President, Chief Financial Officer (CFO). She serves on a number of boards and investment committees including those of the National Gallery of Art, the Yale School of Management, The Rockefeller Foundation, the National Womens History Museum, Girls Who Invest, and MSCI. The Investment Associate will participate in Investment Committee meetings and may have an opportunity to formally present in a group setting. The endowment provides a permanent source of funding for such purposes as financial aid, faculty chairs, scholarly research and writing, student . Printed by Penmor Lithographers, Lewiston, Maine. Senior Vice President and Chief Investment Officer. 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. Other distributions restricted by donors are used to support professorships and instruction, lectureships, museums, the library and book purchases, and technology. About . This is a new position with a highly rated, multi-line insurance company located in the greater Philadelphia area. 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. As the Lundberg case confirmed, these pay packages are complex. Presidential pay is structured very differently from a CIOs. 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. "If you use your conservation skills on . Culture, This content is from: Always high-quality. Its all possible thanks to funding secured by the McKeen Center and the Office of Career Exploration and Development. Forty-nine percent of Bowdoins first-year class receives need-based financial aid, a percentage that continues to grow. In a field still dominated by men, she has been nationally recognized for her standout success. Read Bio . The directory includes famous graduates and former students along with research and academic staff. 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. Retained Executive Search 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. 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 . Always free. 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. . Bowdoin College is 438th in the world, 175th in North America, and 163rd in the United States by aggregated alumni prominence. June 07, 2018. Institutional investors operate at the crossroads of capital . [II Deep Dive:The Endowment Location Conundrum]. We should also mention that we used a $1 billion AUM lower bound for this list. Below is the list of 100 notable alumni from Bowdoin College sorted by their wiki pages popularity. They used a consultancy, Cambridge Associates, and it was something the treasurer did part-time.. The item War Department annual reports, 1917. 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. Presidents get perks like first-class air travel, chauffeurs, club memberships for themselves and their spouses, etc. You are strongly encouraged to use a real name or identifier ("Class of '92"). Sometime this past February, a self-proclaimed "doddering alum" of the Class of 1976 joined the elite club of individuals who have clicked the "Ask Us Anything" button on the Orient Express. 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 . Beth Kowitt 07 Wins New York Press Club Award. 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. Content from before 2017 is preserved on this site, but there are no updates. Tulsa-based Williams processes and transports natural gas, so what followed was annoying but predictable. from the University of New Hampshire. Middlebury Institute of International Studies at Monterey The College is launching a podcast series, tapping into the reservoir of talent contained in the Bowdoin community. For FY 2018 shes turned in the best performance weve seen reported so far, a 1-year return of 15.7 percent.