bowdoin college chief investment officer

AND DEAN OF THE FACULTY AND BOSWELL PROFESSOR OF ECONOMICS. Bryant will succeed Paula Volent, who will step down at the end of June after more than 20 years on the job. EDUCATION: Brandeis University, Bowdoin College. 29. She will assume stewardship of the universitys endowment starting August 15. Chief Investment Officer - CIO: A chief investment officer is an executive position responsible for managing a company's investment portfolios. 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. The average grant for all aided studentsfunds that do not have to be paid backis approximately $56,000 a year. 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.. Mills previously served as the deputy presiding partner of Debevoise . Net Assets. BOWDOIN COLLEGE BRUNSWICK, ME 04011-8445 | Tax-exempt since June 1935. Volent went back for her Masters degree in art conservatorship at NYU and then went west, working at the L.A. County Museum of Art and San Franciscos Palace of Fine Arts as a paper conservator before starting her own private art conservation business outside of Los Angeles. A search committee has been formed to identify the sixteenth president of Bowdoin College. Paula Volent, Bowdoin Colleges 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. Niles is uniquely positioned for this leadership position at Bowdoin, Volent said in a statement. The New York office will ostensibly aid Volent's management of the endowment in several ways. CIO; PLANADVISER; PLANSPONSOR; 702 King Farm Boulevard, Suite 400, Rockville . 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. The most obvious one here is Paula Volent at Bowdoin College. We wanted this chart to be a book-end to our reporting of investment performance for FY2017. Ohio STRS Loses 9.52% in 2022, Board Rejects Neville Vote of Confidence, Stocks, BondsHah! Bowdoin College Names K. Niles Bryant CIO, Massachusetts Pension Fund Increases Corporate Diversity Standards. 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. But the incentive formula is usually confidential. Investment . This is the Bowdoin Orient's archive site. Matthew P. Orlando of Brunswick has been promoted to the position of senior vice president for finance and administration at Bowdoin . 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.. Im eager to join that community of scientists, students, postdocs, administrators, staff, and trustees and, in my new role, to contribute to the universitys culture of sustained excellence by working to assure the strength of its financial underpinnings.. Because there are very few public universities in our endowment peer group, virtually no comparison [sic] schools will ever have to make their plans public. Were looking for a Chief Investment Officer to manage a $1.5 Billion investment portfolio. Join our social media network for updates from our campus and our labs. We pointed out in our letter that she appeared to be underpaid compared to (male, white) CIOs running comparably big public pensions. Vice President for Institutional Affairs. His typical pay is less than half the total shown for CY2015. 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. However, Volents path to Brunswick wasnt through finance at all. 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. Vickie Fuller, beginning with no special advantages, achieved success in both the corporate and non-profit spheres with a lifetime of hard work. Maintaining an office in the country's financial capital will allow Volent to hire and retain top investment associates. who was hired by Bowdoin in 2000, oversees the College's $904 million endowment. 1K followers 500+ connections. Upon graduating, he soon began working at the law firm, Debevoise . Executives Listed on Filing. You are strongly encouraged to use a real name or identifier ("Class of '92"). 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. Work. 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." 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. Its rife with dark hints and insinuations that, since NYSCRF had had some investments with Williams, Ms. Fuller must have been the beneficiary of some greasy quid-pro-quo. Paula had opportunities to do all kinds of things over many yearsto go to other placesand she stayed here because she loves Bowdoin, Rose said. "Many of these managers have offices in New York or make frequent visits to the city, and most members of the College's Investment Committee are based in New York.". 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. Bowdoin College, Brunswick, Maine. Much of this has to be declared as taxable W2 income to the employee per IRS rules and is therefore in our total. 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. If you have a friend or colleague who might be suitable, please spread the word. 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. Orlando named chief financial officer at Bowdoin College. There are probably other cases of non-typical payouts on the list, but we cant identify all of them. Office of the President. A direct Mayflower descendant of Richard Warren, Jean was born on March 28, 1939, to parents Frank N. and Harriet O. 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. 3.3.2023. 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.. Students who were set to study abroad in the fall of 2021 have had a tumultuous few weeks. 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. . Some things might look and act a little weird. Bryant will succeed Paula Volent, who announced in February that she intends to step down . From 2004 to 2008, Bryant was associate director of investments at the Carnegie Corporation of New York, one of the nations oldest private foundations, where he worked with Chief Investments Officer D. Ellen Shuman, a member of the Bowdoin Class of 1976. Led by Chief Investment Officer Mauricia Geissler and operating under the guidance of Amherst's Investment Committee, the Amherst College Investment Office is . Paula will help ensure that we continue to have the resources needed to fuel the world-leading research of our 70 heads of laboratory in pursuit of our mission, Science for the benefit of humanity., I have long admired the dedication and focus of the entire Rockefeller University community on conducting ambitious science that expands our knowledge of the world and has a positive impact on society, says Volent. But in big-time academia, CEO pay often trails the CIO and probably the football and basketball coaches as well. 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. But, we feel no such constraint. Administration. 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. Prior issues can be found in archives on our website, Charles Skorina & Company The occasional series "How it feels" was first published in the 2005-2006 volume of the Orient. Chief Marketing Officer at Blue Cross Blue Shield of Massachusetts. Smith, who has served as the university's co-chief investment officer ad interim since March 2020, was chosen following an extensive national search. Bowdoin College. Capital Projects, and Special Counsel. Each issue explores how the worlds most accomplished asset managers think and invest. Some key points from the policy: Go to content, skip over visible header bar, Orient article offers singular, alarming interpretation, President Rose, College community react to revealed Epstein ties with former trustee Jes Staley '79 P'11, Owner of At Last Spa promotes personal health and wellness practices, Graffiti at Bates being investigated as possible hate crime; Bowdoin students write letter in solidarity with protestors, Mckesson 07 H21 debuts fireside chats as first of this years honorary degree recipients, Shift in off-campus study policy now allows more students to go abroad for the fall, Professor of Government Chryl Laird to leave Bowdoin for University of Maryland. A Bird's-Eye View of Fall Color on Campus. 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. 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. Chief Investment Officer Bowdoin College Jul 2021 . 6080 N. Sabino Shadow Lane 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. $1,200,798. Content from before 2017 is preserved on this site, but there are no updates. Bowdoin's investment team is collaborative, research oriented, and performance driven. . You seem to be browsing on a screen size, browser, or device that this website cannot support. The latest science discoveries delivered monthly to your inbox. And we need to give our thanks for that too., By NoahSaperstein • November 11, 2022, By MargaretBoyle • November 16, 2018, By MinaZanganeh and JulianaVandermark • 8 days ago. Anne Dinneen, Hamilton's Chief Investment Officer, received Chief Investment Officer (CIO) magazine's Innovation Award for endowment management on Dec. 14 at a gala at the New York City Public Library. Bowdoin College's long-time chief investment officer Paula Volent is stepping down. He received a big payout classified as other in calendar 2015. The official University of Michigan salary-disclosure listing (page 447) for 2017 showed CIO Erik Lundbergs total comp as $720,000. 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 . In the overarching sense, however, Volents career trajectory will always be of special relevance to Bowdoin. As a member of Bowdoins senior leadership team, Bryant will report to Rose. She will assume stewardship of the university's endowment starting August 15. It has been a great honor to oversee Bowdoins endowment, said Volent. Here are their stories. from the University of New Hampshire. . She has almost 19 years on the job and her comp reflects how badly her board would like to keep her. 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. Paula Volent. University of Chicago, MBA, Finance Before embarking on her career in investment management, Volent worked as an art conservator specializing in the conservation of art on paper. In 2020, she was named one of the 100 Most Influential Women in U.S. Finance by Barrons. 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. E.g., the number for Mr. Pomeroy at Penn State is a very conservative estimate. CIO editor Christine Giordano said, "We were very impressed by all that she has been able to accomplish in such a short amount of time.". 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. Following the U.S. Department of States (DOS) decision to merge its travel advisories with those set by the Centers for Disease Control and Prevention (CDC), these students were notified during the first round of course registration that, if they were traveling to a country that the DOS had just categorized as Level 4, they were strongly encouraged to withdraw from their prospective study abroad status with Bowdoin and register for courses. Craig W. Smith, a highly experienced and respected investment professional in the institutional investment industry, has been named chief investment officer of Tufts University. News & Research forInvestmentLeaders, J.P. Morgan Credit and risk management (Compensation as of calendar year-end 2015. No Reproduction Without Prior Authorizations. About; Bookstore; Campus Map; Colby Magazine; Dare Northward; Dining . You've seen his Stanford commencement speech, of course. In addition to running her own conservation business, she served stints with the National Gallery of Art in Washington, D.C., the Los Angeles County Museum of Art, the Palace of Fine Arts in San Francisco, and the New-York Historical Society, among other organizations. Liked by Aiden MacNeil Company Website. Read Bio . 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.. 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. 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. Chief Investment Officer Brown University . Senior Vice President and Chief Investment Officer. Williams' endowment is the largest of any liberal arts college in the country,but Williamstown, Mass., like Brunswick, is not a hotbed of financial activity. DeGraff earned her master's and doctorate . . 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. The hitch is the long time-lag more than two years before the data is publicly available. 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. 5700 College Station (207) . Volent will join the biomedical research institution this summer from Bowdoin College, where she led the $2 billion endowment for the past two decades. In this section. Olympian Joan Benoit Samuelson 79 Reflects on Championship, Mental Health, and Balance. See the metrics below for more information. Bowdoin College has promoted K. Niles Bryant to be the new CIO of its $1.8 billion endowment, effective July 1. Its ironic that data for public colleges has sometimes been the least public. Bowdoins endowment consists of more than 1,700 individual funds earmarked for the perpetual support of a variety of College initiatives. 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. 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. Location. Compensation is a delicate issue; but recruiters need to keep track of it. "It has been a great honor to oversee Bowdoin's endowment," said Volent. A statement sent to the Orient did not disclose the date of the opening, though a February 22 article published on the website of Foundation and Endowment Intelligence suggests that it occurred earlier this year. AUM as of June 30, 2017), COMPENSATION: TOP 74 CHIEF INVESTMENT OFFICERS, Baseline compensation year: December 31, 2015 Our chart shows W2 earnings only, paid in calendar year 2015 and taxable to the CIO. In 2020, Volent was named one of the top 100 Most Influential Women in U.S. Finance by Barrons. She holds a masters in business degree from the Yale School of Management. 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.". 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. Endowment. Gregg Abella is CEO and Portfolio Manager at Investment Partners Asset Management. The IRS requires a certain degree of granularity and, in most cases, we see items for base salary, bonus, other, and total. She will join the . He will succeed Paula Volent, who announced in February that she intends to step down in June after more than twenty years in the position. VICE PRESIDENT OF STUDENT AFFAIRS. There's not much that hasn't been long since said. They used a consultancy, Cambridge Associates, and it was something the treasurer did part-time.. Volent flies frequently to meet with investment mangers across the country, so a New York location should make traveling easier for her. Chief Investment Officer at Bowdoin College New York, New York, United States. 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. And, if youre crafting a competitive offer, it certainly helps to know exactly what you have to beat. And, we see no reason why we shouldnt share some of that bounty with our readers. Volent is on the board of directors at MSCI and the board of advisors for the Yale School of Management. Although the gross number had become public, the Detroit Free Press still sued the University to obtain details about how it was calculated. 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. A Maine resident herself, Volent will remain connected to the College and the state even after she assumes her new position. Original content includes profiles and interviews with industry veterans and research on compensation and investment performance. Well-known alumni include John L. Flannery, who in 2017 was named chairman and chief executive officer of . 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. Work at the Investment Office centers on selecting and monitoring investment . Bryant started their career as an Associate at Winston & Strawn LLP from 1998 to 2000. 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. This content is from: Tucson, AZ 85750 This support includes enabling expanded access, subsidizing tuition for every student, paying for the best teachers and facilities, creating knowledge and supporting basic operations. 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. When I leave Bowdoin, Im leaving the endowment position after 21 years, and if you count the museum its 25 years, Volent said. It is not clear if this factor influenced the decision. 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. [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. "If you use your conservation skills on . 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. 5700 College Station (207) 725-3221. 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. She succeeds Amy Falls, who is leaving the post this spring . Im going to stay very much involved with the College when I leave.. By RebeccaNorden-Bright • May 14, 2021. 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. I look forward to working with Niles over the next four months to facilitate a smooth leadership transition.. (He was paid $4.3 million by Columbia University in that period, but that was under a different contract with a different employer with a smaller AUM, making it triply apples-to-oranges.). Paul Rucci. Today, Volent oversees a growing staff split between two offices in Brunswick and New York. In the corporate world, the CEO almost always commands the big bucks. While Harvard is the most conspicuous case, a few other CIOs are also MIA in this chart for similar reasons. 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. Our top earner Mr. Malpass at Notre Dame is deservedly well-paid and isnt going anywhere. Volent has an M.B.A. from the Yale School of Management, an M.A. Name Title Hours Per Week Total Salary; Paula Volent: SVP/CHIEF INVESTMENT OFFICER: 40: $4,170,808: Chris Piccione: ENDOWMENT CHIEF OPS OFFICER . 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. (In three volumes) Volume I. 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 Colleges $1.8 billion (as of June 30, 2020) endowment, the largest portion of which is permanently restricted to the support of student financial aid. If youre interested, send me your resume. Niles Bryant Senior Vice President and Chief Investment Officer. The item War Department annual reports, 1917. 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. 30. Bloomberg. Finally, Volents path led her back to Bowdoinbut this time in the treasury rather than the art museum, where she has been ever since. Thats about standard for a company of this size in this industry. CHIEF INVESTMENT OFFICER IS OPTIMIZED FOR. Catch up on the latest reports, stories and opinions about Bowdoin and Brunswick in your inbox. Here I was, an art person, Volent said. 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. But, obviously, we could only report pay for CY2015 if the CIO had held the same job in that prior period. The school announced Thursday that Volent, who had served as the endowments investment chief since 2000, will leave on June 30, 2021, at the end of the academic year. Back Submit. As a member of the Bowdoin Museum of Arts advisory board and an emeritus senior vice president, Volent will maintain the relationship with the College that she has remained committed to for over two decades. Volent, who was hired by Bowdoin in 2000, oversees the College's $904 million endowment. Bowdoin College Apr 2012 - Nov 2013 1 year 8 months. In a 2007 article published in The Williams Record, Chilton cited greater access to investors as the principal reason for the move. Her 5-year return as of FY2017 was the highest of any major endowment at 11.9 percent. Or, you can file a FOIA request. Chief. EIN: 01-0215213; Classification Undergraduate College (4-year) . Matthew G. Bibbens '92. 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. 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. He almost certainly makes more. Its my home. from New York Universitys Institute of Fine Arts, and a B.A. Chief Investment Officers are high-level executives in charge of managing their organization's investment portfolios. Compensation for this key position is competitive. Read our full privacy policy for more. 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. Volent joins Rockefeller after two decades as chief investment officer for Bowdoin College, where she oversaw an endowment that grew from $465 million to $1.8 billion during her tenure. 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. Private schools and some publics disclose it in IRS filings. www.charlesskorina.com, THE SKORINA LETTER:Sign-up This is a new position with a highly rated, multi-line insurance company located in the greater Philadelphia area.