Harvard Management Company
From Wikipedia, the free encyclopedia
| Harvard Management Company | |
 |
|
| Type | Nonprofit |
|---|---|
| Founded | 1974 |
| Headquarters | Boston, Massachusetts |
| Key people | Mohamed A. El-Erian, CEO Marc Seidner, Vice President for Domestic Fixed Income |
| Industry | Finance and Insurance |
Harvard Management Company (HMC) is an investment arm of the Harvard University's Endownment Fund. HMC currently manages the $29.2 billion Harvard University endowment [1], the largest endowment in higher education [2], which enables Harvard to invest in a wide variety of traditional to unconventional stocks and bonds.
The university hires financial professionals to manage its investment funds, which come from donations made by its alumni. The HMC is headed by a professional, who is appointed the title of president and chief executive officer of the company. Its well-known recent president Jack Meyer managed HMC from 1990 to September 30, 2005, with the beginning endowment worth $4.8 billion and his ending-tenure endowment valuation of $25.9 billion. The annualized endowment return during his 15 year tenure was 21%.
The university hired Mohamed A. El-Erian to succeed Jack Meyer as HMC's next president and CEO. Mr. El-Erian came from the bond trading company Pacific Investment Management (PIMCO) and has pledged to "rebuild and reinvent" the company. Marc Seidner has also joined HMC as vice president for domestic fixed income in an effort to revamp the company's bond division. Mr. Seidner was previously the director of active core strategies at Standish Mellon Asset Management. [3]
Contents |
[edit] Quick facts
- As of 2006, employs approximately 130 people.
- Manages Harvard University's $29 billion endowment.
- The CEO is Mr. Mohamed A. El-Erian.
- Office is located separately from Harvard University's main campus, in the Federal Reserve Bank Building close to Boston's South Station.
[edit] Notes
- ^ The Harvard Gazette (2006). "Harvard endowment posts solid positive return".
- ^ The Harvard Crimson (2005). "Super-Size Me".
- ^ Mossavar, Cyrus. "Harvard Management Company Hires Two Senior Exercutives in Plan to Remake HMC" The Harvard Crimson, April 20, 2006.
[edit] External links
[edit] Articles
- The Harvard Crimson :: "Endowment Chief Speaks to Students"
- The Harvard Crimson :: "Harvard Management Company Hires Two Senior Executives in Plan to Remake HMC"
- The Harvard Crimson :: "HMC Salaries Fall From Highs"
- The Harvard Crimson :: "Top Bond Manager to Lead Endowment"
- The Harvard Crimson :: "Endowment Reaches $25.9 Billion"
