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After Over 20 Years at Bowdoin, CIO Paula Volent Is Bowing Out History Teaching Assistant - Bowdoin College - LinkedIn Yale Endowment Chief David Swensen Leaves Legacy Of Top College 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. Thayer Named New Chief Investment Officer | Grinnell College Well-known alumni include John L. Flannery, who in 2017 was named chairman and chief executive officer of . Rather, it was the Walker Art Museum that housed her first office at the CollegeVolents first career was as a distinguished art historian and conservator, and her first job out of college was in Bowdoins museum, not its treasury. Bowdoin College is 438th in the world, 175th in North America, and 163rd in the United States by aggregated alumni prominence. News & Research forInvestmentLeaders, J.P. Morgan Credit and risk management Following a national search process, Jainen "JT" Thayer has been selected to be Grinnell's next chief investment officer (CIO). (SVP/CHIEF INVESTMENT OFFICER) $4,170,808: CHRIS PICCIONE (ENDOWMENT CHIEF OPS OFFICER) $501,321: CLAYTON ROSE . We'll never use your email for anything other than this newsletter. But in big-time academia, CEO pay often trails the CIO and probably the football and basketball coaches as well. AND DEAN OF THE FACULTY AND BOSWELL PROFESSOR OF ECONOMICS. 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. Other, non-W2 items benefitting the CIO are often reported to the IRS (and are sometimes substantial) but we omit them for our purposes. 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. Download pdf of bio. Ernst & Young Systems and process consulting And, if youre crafting a competitive offer, it certainly helps to know exactly what you have to beat. An example is Douglas Phillips at University of Rochester. Manager Selection February 23, 2023. This is probably deferred comp which was accrued over several years and finally disbursed per his contract. 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. She has almost 19 years on the job and her comp reflects how badly her board would like to keep her. Dinneen Recognized for Endowment Management - Hamilton College Bowdoin College names new CIO | Pensions & Investments 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. She was a hot property as a potential board member and she was brought to Williams by a recruitment firm following a nation-wide search. 29. 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. Culture, This content is from: With the Tokyo 2020 marathon days away, we caught up with her to reflect on a few matters running-, and non-running, related. 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. Nearly half of the endowment is permanently restricted by donors to the support of student financial aid. 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. The occasional series "How it feels" was first published in the 2005-2006 volume of the Orient. 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. 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. Bowdoin College's long-time chief investment officer Paula Volent is stepping down. In a field still dominated by men, she has been nationally recognized for her standout success. Can an 'Agreement to Agree' Support Expectation Damages? Gregg Abella, AIF - Chief Executive Officer - Investment Partners A member of the company's Senior Leadership Team, he leads the Finance and Risk function responsible for the company's financial management and planning, budgeting, actuarial, investment risk and operations, enterprise risk management and resiliency. 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. There's not much that hasn't been long since said. Im going to stay very much involved with the College when I leave.. Office of the President. A Bowdoin spokesperson declined to comment on where Volent is headed next or who her replacement will be. Liked by Aiden MacNeil A direct Mayflower descendant of Richard Warren, Jean was born on March 28, 1939, to parents Frank N. and Harriet O. As Volent leaves Brunswick, she will leave big shoes for her replacement, Niles Bryant, current director of investments, to fill. As of June 30, 2022, the three-, five-, and ten-year annualized returns for Bowdoins endowment were 15.7 percent, 14.7 percent, and 13.3 percent, respectivelyall in the top 5th percentile among comparative college and university annualized returns, according to data compiled by Cambridge Associates. 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. All rights reserved. Financial services and technology are . Early life and education. Charles Skorina & Co. is the exclusive search agent for this position. Thayer comes to Grinnell from the Oberlin College Investment Office in New York City, where he served as CIO. 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. Here are their stories. "It is important for the College to have a continued sense of leadership," said Mills in explaining why he chose to share his intention, "and I committed to the trustees last spring that I would let them know.". In 2004, they joined Carnegie Corporation of New York as the Associate Director of Investments . 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. 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]. Advised the Chief Investment Officer to build from scratch IFC's 7.4+ billion global, ESG . Over the past two decades, Volent has overseen a level of endowment growth unrivaled by any other institution in the country. VICE PRESIDENT FOR ACADEMIC AFFAIRS. 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. Investment Office - New York University Bowdoin Magazine, Vol. 92, No. 3, Spring/Summer 2021 Orlando named chief financial officer at Bowdoin College. 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. 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. Harvards CIO-of-record in FY2017 was Narv Narvekar. 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. Upon graduating, he soon began working at the law firm, Debevoise . But, obviously, we could only report pay for CY2015 if the CIO had held the same job in that prior period. 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. 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.. (Compensation as of calendar year-end 2015. But, in an upcoming supplement to this letter, well look at recent historical trends in CIO pay, and will even daringly attempt to extrapolate what current (calendar 2018) pay may be for some of these CIOs based on that trendline. A Maine resident herself, Volent will remain connected to the College and the state even after she assumes her new position. Volent credits Swensen with helping develop her investing methodology and giving her the confidence to consider pursuing investing as a career and eventually working her way to the pinnacle of the field. 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.