bowdoin college chief investment officer

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. [Swensen] took me inhe had me filing at first, and over time, he got me working on projects, Volent said. The most obvious one here is Paula Volent at Bowdoin College. In this section. And, if NYSCRF held Williams (investment-grade) bonds, you can be sure that Ms. Williams a crack credit-analyst and bond maven in her previous jobs had the numbers to prove they were a suitable buy for her fund. We'll never use your email for anything other than this newsletter. Rockefeller's endowment, valued at $2.5 billion, is a crucial source of revenue for the university, contributing nearly . By RebeccaNorden-Bright • May 14, 2021. Vice President of Campus Planning and. 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." Bowdoin College's long-time chief investment officer Paula Volent is stepping down. EIN: 01-0215213; Classification Undergraduate College (4-year) . Bowdoin College Names K. Niles Bryant CIO, Massachusetts Pension Fund Increases Corporate Diversity Standards. The Endowment is managed by a professional investment staff within the NYU Investment Office. If youre interested, send me your resume. 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. Investment Officer - Sourcing and structured investments in Albania . . Wilshire Lays Out a Broader Asset Allocation, Kentucky Retirement System Trustees Say It Is Not Subject to State's Anti-ESG Law, Ohio State Pension Approves New Asset Allocation. 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. Community Reinvestment Officer Salary in Abbot, Maine Kathy Weiler | People on The Move - Boston Business Journal Company Website. In 2004, they joined Carnegie Corporation of New York as the Associate Director of Investments . Chief Investment Officer at Bowdoin College New York, New York, United States. Name Title Hours Per Week Total Salary; Paula Volent: SVP/CHIEF INVESTMENT OFFICER: 40: $4,170,808: Chris Piccione: ENDOWMENT CHIEF OPS OFFICER . The Investment Committee has oversight responsibility for the . The occasional series "How it feels" was first published in the 2005-2006 volume of the Orient. However, Volents path to Brunswick wasnt through finance at all. Office of the Financial VP & Treasurer - Boston College She announced in February that she would be stepping down as senior vice president and chief investment officer at the college on June 30. We do observe that some contracts mandate a biggish base salary and smallish bonus; others, the opposite. The team reports to the Chief Investment Officer, President of the College, and Bowdoin's Investment Committee. MIT, Bowdoin Endowments Lose 5.3%, 7.1% in Fiscal 2022 | Chief Niles is uniquely positioned for this leadership position at Bowdoin, Volent said in a statement. His typical pay is less than half the total shown for CY2015. New Bowdoin Podcast to Tackle Issues of Democracy. 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. Her record in the short, medium and long term of investment returns is at the very highest of all colleges and universities of this country that has allowed our endowment to grow and the biggest piece of our endowment is dedicated to financial aid. Liked by Aiden MacNeil Niles Bryant Senior Vice President and Chief Investment Officer. If you have a good one (and Mr. Lundberg is very good), theres always anxiety that someone with deeper pockets will whisk him or her away. 5700 College Station (207) 725-3221. Some things might look and act a little weird. 5700 College Station (207) . Are Defined Benefit Pension Funds Still Useful Recruiting, Retention Tools? As the Lundberg case confirmed, these pay packages are complex. Most of that consisted of a $13.6 million bonus. April 16, 2021. $10.5. Charles Skorina & Co. is the exclusive search agent for this position. 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. As Volent leaves Brunswick, she will leave big shoes for her replacement, Niles Bryant, current director of investments, to fill. Skorina seeks CIO for $1.5 Billion portfolio. The school announced Thursday that Volent, who had served as the endowment's investment chief since 2000 . Mendoza pushes for law requiring greater deposits in Illinois' 'rainy The average grant for all aided studentsfunds that do not have to be paid backis approximately $56,000 a year. Executives Listed on Filing. 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? Michael S. Hussey. 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. But there are exceptions. 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. Chief Investment Officers vs. University Presidents. Investment Office | Wellesley College Paula is a proven leader not only in terms of producing investment results but also as a mission-driven member of the senior executive team.. The Investment Office oversees the Institute's investment-management activities, managing over $4.6 billion of endowment, trust and other assets, including real estate. 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.. Niles Bryant will become the next senior vice president and chief investment officer at Bowdoin College. 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. 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. The stewardship of these resources includes the investment of the endowment and other financial . 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. Endowments Should Abandon Alts for Passive Investments, Report Says. Orlando named chief financial officer at Bowdoin College. Senior Staff. But in big-time academia, CEO pay often trails the CIO and probably the football and basketball coaches as well. Thayer comes to Grinnell from the Oberlin College Investment Office in New York City, where he served as CIO. Lyndbergh Simelus email address & phone number | Recorded Future Data Gregg Abella, AIF - Chief Executive Officer - Investment Partners Lane Hall, Room 214C. University of Chicago, MBA, Finance Washington, District of Columbia, United States. Report this profile Report Report. Total Salary includes financial earnings, benefits, and all related organization earnings listed on tax filing. Published October 05, 2022 by Bowdoin College. Institutional investors operate at the crossroads of capital, talent, and ideas, shepherding over seventy trillion dollars in global assets. Tucson, AZ 85750 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. 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. 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. <br><br>After graduating from Bowdoin College in 1992 with degrees in both Economics and Spanish, he began his . He added that Volent and her team have produced investment returns 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.. $1,200,798. Todd M. Jones is Executive Vice President, Chief Financial Officer (CFO). She will join the . A native of Warwick, Rhode Island, Mills graduated cum laude with a double major in biochemistry and government from Bowdoin College in 1972. 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. Jean Meredith (Bordo) Lawrence, obituary | PenBay Pilot 2 Andrews Road. 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]. (latest available public filings), California Institute of Technology (Caltech), * Rob Wallace, Stanford, start date July 2015. Paula Volent is named chief investment officer - News A Maine resident herself, Volent will remain connected to the College and the state even after she assumes her new position. Orlando named chief financial officer at Bowdoin College No Reproduction Without Prior Authorizations. She did it because of her love for Bowdoin. Olympian Joan Benoit Samuelson 79 Reflects on Championship, Mental Health, and Balance. Financial services and technology are . chief investment officers - and the global investment community within which we work as executive search professionals. 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, Bowdoin College president Clayton Rose said in a statement. The latest discoveries delivered straight to your inbox. 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. Reports of the Secretary of War, Chief of Staff, Adjutant General, Inspector General, Judge Advocate General, Quartermaster General, Surgeon General, Chief of Ordnance, Chief Signal Officer, Chief of Militia Bureau, Chief of Coast Artillery, Superintendent Military Academy, Chickamauga and Chattanooga Park Commission . He holds degrees from Bowdoin College, University of St. Andrews, and University of Connecticut School of Law. In opening the office, Bowdoin joins a group of colleges and universities that have moved their offices closer to financial centers. 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. Its all possible thanks to funding secured by the McKeen Center and the Office of Career Exploration and Development. Associate VP and Chief Investment Officer. Clever college administrators have sometimes found (or constructed) loopholes in those sunshine laws which let them conceal part of the CIO pay-package. 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. Paul Rucci. In this 2011 revival, Bowdoin students tell the Orient about their experiencesgood, bad, or just extreme. Craig W. Smith, a highly experienced and respected investment professional in the institutional investment industry, has been named chief investment officer of Tufts University. Bowdoin College. 207-786-6103. mhussey@bates.edu. Tufts Names Craig W. Smith Chief Investment Officer 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.. Each issue explores how the worlds most accomplished asset managers think and invest. Bowdoin College names Claudia Marroquin senior VP, dean of admissions Advised the Chief Investment Officer to build from scratch IFC's 7.4+ billion global, ESG . (See our complete compensation chart just below.). Volent has an M.B.A. from the Yale School of Management, an M.A. He almost certainly makes more. Always high-quality. All investments are made through experienced investment managers with particular expertise in their markets of focus," she wrote. This support includes enabling expanded access, subsidizing tuition for every student, paying for the best teachers and facilities, creating knowledge and supporting basic operations. 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. What we cant do is explain how these numbers were arrived at. She exceeded even her mentor, the esteemed David Swensen, who was a close second with 11.7 percent. In our last letter we featured Vickie Fuller, retiring CIO of the $200 billion New York State Common Retirement Fund. www.charlesskorina.com, THE SKORINA LETTER:Sign-up Well-known alumni include John L. Flannery, who in 2017 was named chairman and chief executive officer of . Satellite investment office established in New York City The Bowdoin As Mills told the story, an opponent said to him mid-swing, "I would never support Bowdoinyou are a ridiculous liberal school that brings all the wrong students to campus for all the wrong reasons." (In three volumes) Volume I. 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. 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. Content from before 2017 is preserved on this site, but there are no updates. Mills previously served as the deputy presiding partner of Debevoise . 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. With the Tokyo 2020 marathon days away, we caught up with her to reflect on a few matters running-, and non-running, related. Fortress Investment Group . War Department annual reports, 1917. (In three volumes) Volume I 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. "If you use your conservation skills on . Governance; Administration; President Clayton Rose; Selected Speeches and Writings; Past Presidents ; Student Office Hours; 255 Maine Street Brunswick . This case examines modern endowment investment management through the lens of a leadership transition between Chief Investment Officers (CIOs). 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. 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. 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. This is probably deferred comp which was accrued over several years and finally disbursed per his contract. CHARLES A. SKORINA & COMPANY works with leaders of Endowments, Foundations, and Institutional Asset Managers to recruit Board Members, Executives Officers, Chief Investment Officers and Fund Managers. Niles Bryant is the SVP and Chief Investment Officer at Bowdoin College. Compensation is a delicate issue; but recruiters need to keep track of it. 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 . For FY 2018 shes turned in the best performance weve seen reported so far, a 1-year return of 15.7 percent. Printed by Penmor Lithographers, Lewiston, Maine. Back Submit. List of Bowdoin College people - Wikipedia Even with a satellite office in New York, the investment office in Brunswick "will continue to be the principal office," wrote Volent. I had no background in finance, and I think thats [an] interesting [story] for Bowdoin students because you never know how your career is going to pivot I went to Yale initially thinking that afterwards, I was going to be a museum director and go back to the arts.. Most of it is publicly available, anyway; as long as youre willing to scrounge for it. Capital Projects, and Special Counsel. $1,981,536,000. Tulsa-based Williams processes and transports natural gas, so what followed was annoying but predictable. Search Bowdoin College Search. In 2020, Volent was named one of the top 100 Most Influential Women in U.S. Finance by Barrons. Endowment. VICE PRESIDENT OF STUDENT AFFAIRS. Lewiston, Maine 04240. Or, you can file a FOIA request. About . 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. 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. (SVP/CHIEF INVESTMENT OFFICER) $4,170,808: CHRIS PICCIONE (ENDOWMENT CHIEF OPS OFFICER) $501,321: CLAYTON ROSE . Thats about standard for a company of this size in this industry. (Barker) Bordo. 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. Although Volent did not disclose the distribution of her time between the two offices, she confirmed that she will work out of both. 6080 N. Sabino Shadow Lane I look forward to working with Niles over the next four months to facilitate a smooth leadership transition.. 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. Mr. Skorina also publishes THE SKORINA LETTER, a widely-read professional publication providing news, research and analysis on institutional asset managers and tax-exempt funds. Our Leaders | Northwestern Mutual in 2008 and earned his J.D. Volent is on the board of directors at MSCI and the board of advisors for the Yale School of Management. Paula Volent, 63, the chief investment officer of Bowdoin College's endowment, sees similarities between art conservation and investment management. He will oversee the management of the Brunswick, Maine, college's $1 . Mike Hussey joined Bates in 2012 and oversees or supports a variety of institutional projects on behalf of the President. He started in April as director of investments. 6.0. . If you're happy with cookies click proceed. Her portfolio even . Bowdoin Colleges long-time chief investment officer Paula Volent is stepping down. A Bowdoin spokesperson declined to comment on where Volent is headed next or who her replacement will be. When I leave Bowdoin, Im leaving the endowment position after 21 years, and if you count the museum its 25 years, Volent said. who was hired by Bowdoin in 2000, oversees the College's $904 million endowment. But, obviously, we could only report pay for CY2015 if the CIO had held the same job in that prior period. . 3.3.2023. Finally, Volents path led her back to Bowdoinbut this time in the treasury rather than the art museum, where she has been ever since. DeGraff earned her master's and doctorate . In the early 2000s, as Williams' endowment rose above the $1 billion mark, we knew our increasingly complex portfolio and expanding group of outside investment managers would eventually require full-time professional oversight. A first-generation college student herself, Volent earned her undergraduate degree in art history on a scholarship from the University of New Hampshire, a passion that turned into a full-fledged career before investing was ever on her radar. 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. Ms. Volent, who has had the top investment position at the Brunswick, Maine-based college since the . 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. 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. On June 30, 2020, the endowment was valued at $1.8 billion and provided $71.8 million to the annual operations of the College. Bowdoin Magazine, Vol. 92, No. 3, Spring/Summer 2021 During her time at Bowdoin, Volent has cemented her reputation as one of the nations preeminent college investments managers, outperforming every other college endowment over that span. Visitors and Visiting Committees - Colby College Bowdoin College names new CIO. And items in the other column are not always explicable. K. Niles Bryant - Chief Investment Officer - Bowdoin College | LinkedIn [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. But thats changed somewhat in recent years as more states adopt sunshine laws for public-employee pay generally. Prior to moving into the financial sector, Bryant was an associate at the New York City law firms of Dewey Ballantine and Winston & Strawn. 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. 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. 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. Aerial views of campus with pops of brilliant fall color, thanks to local drone photographer Glenn Michaels. The New York office will ostensibly aid Volent's management of the endowment in several ways. Thayer Named New Chief Investment Officer | Grinnell College Office of the President. (The smaller TAM Foundation is managed separately.). New York Law Journal. 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. Bowdoin College. Bowdoin College names new CIO | Pensions & Investments If you have a friend or colleague who might be suitable, please spread the word. I feel like in investing, that approach has carried over. Vickie Fuller, beginning with no special advantages, achieved success in both the corporate and non-profit spheres with a lifetime of hard work.