from New York Universitys Institute of Fine Arts, and a B.A. Download pdf of bio. 520-529-5677 I have great confidence that the Bowdoin endowment will be in the very best of hands going forward. Some things might look and act a little weird. Shell be making something like $340 thousand (the average director comp in cash and stock in 2017) for serving on two key committees (audit, and governance) on the relatively small board of a big, complex company. The Office of Investments manages the combined Purdue Investment Pool (PIP) and the Purdue Investment Pool Cash (PIPC). A Maine resident herself, Volent will remain connected to the College and the state even after she assumes her new position. Harvards CIO-of-record in FY2017 was Narv Narvekar. Bowdoin College - Mid-career pay: $135,900 . 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. By RebeccaNorden-Bright • May 14, 2021. Gregg Abella is CEO and Portfolio Manager at Investment Partners Asset Management. Bowdoin has established a second investment office in New York City, College officials confirmed this week. Original content includes profiles and interviews with industry veterans and research on compensation and investment performance. A direct Mayflower descendant of Richard Warren, Jean was born on March 28, 1939, to parents Frank N. and Harriet O. Copyright 20042023 The Rockefeller University. 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.". [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. Following a national search process, Jainen "JT" Thayer has been selected to be Grinnell's next chief investment officer (CIO). This relationship does not necessarily hold at smaller schools, but its pretty consistently true at the biggest ones. Bowdoin ranks only 69th by AUM (FY2017), but 10th by CIO compensation in 2015. In a 2007 article published in The Williams Record, Chilton cited greater access to investors as the principal reason for the move. Niles then worked as an Associate at Dewey & LeBoeuf LLP from 2000 to 2001. Michael Cato Senior Vice President and Chief Information 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. It would be highly misleading to ascribe that comp to Mr. Narvekar, so we didnt. 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. John Lawler is chief financial officer at Ford Motor Company and has overall responsibility of finance functions including Accounting, Financial Planning and Analysis, Treasury, Tax, Investor Relations, Economics and Audit as well as the Ford Credit business. Financial services and technology are . All investments are made through experienced investment managers with particular expertise in their markets of focus," she wrote. 6080 N. Sabino Shadow Lane Prior issues can be found in archives on our website, Charles Skorina & Company In March 2021, Paula Volent is about to step down as the CIO of the endowment of Bowdoin College after twenty-one years, and is preparing to meet with her successor, Niels Bryant, to plan for the . In a field still dominated by men, she has been nationally recognized for her standout success. Mr. Phillips is an effective and well-credentialed CIO and Rochester, understandably, wants to fend off offers from other, bigger schools. Bowdoin College's long-time chief investment officer Paula Volent is stepping down. Read Bio Covid-19 Response Team. I have known Paula for my entire investing career and have always admired her investment judgment, passion for markets, and dedication to Bowdoin, noted Bryant. Rockefeller's endowment, valued at $2.5 billion, is a crucial source of revenue for the university, contributing nearly Bryant will take the helm a little more than a year after joining Bowdoins investment office. 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. Paula Volent was named vice president and chief investment officer of The Rockefeller University, New York, where she will oversee the management of its $2.3 billion endowment. 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. 3.3.2023. While Harvard is the most conspicuous case, a few other CIOs are also MIA in this chart for similar reasons. Tucson, AZ 85750 Work at the Investment Office centers on selecting and monitoring investment . US Army Russian Linguist, Japan Ruth, who spent the last eight years as chief investment officer for Michael Bloomberg's family office, known as Willett Advisors . Associate VP and Chief Investment Officer. Even with a satellite office in New York, the investment office in Brunswick "will continue to be the principal office," wrote Volent. Over the course of Volents tenure, the endowment has grown from just over $465 million in the summer of 2000 to $1.8 billion as of June 30, 2020, according to Bowdoins announcement. Bowdoin College Names K. Niles Bryant CIO, Massachusetts Pension Fund Increases Corporate Diversity Standards. In this section. 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. Im sure I speak for my colleagues on the Board and in University leadership when I say how thrilled we are to be able to look forward to a continuation of the highest caliber of leadership with Paula Volent at the helm in the Universitys investment office., I have known Paula for almost twenty years, both professionally and personally, and I am deeply gratified that she will be coming to Rockefeller, says Scott Bessent, chair of the Investment Committee of the Board of Trustees. 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. Total Salary includes financial earnings, benefits, and all related organization earnings listed on tax filing. "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.". You've seen his Stanford commencement speech, of course. Bowdoins investment return, while negative, compares favorably with equity and bond markets, which registered losses in the double digits over this very challenging period, said Bowdoin President Clayton Rose. 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. Administration. 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. Michael S. Hussey. The corresponding data for most public schools is often fresher, but its scattered among various and often quirky databases in various jurisdictions with various disclosure rules. Paula and her team have produced remarkable investment returns for Bowdoin 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, said Bowdoin College President Clayton Rose. 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. I look forward to working with Niles over the next four months to facilitate a smooth leadership transition.. EDUCATION: Brandeis University, Bowdoin College. The speech was well-received, and the school year proceeded. Name Title Hours Per Week Total Salary; Paula Volent: SVP/CHIEF INVESTMENT OFFICER: 40: $4,170,808: Chris Piccione: ENDOWMENT CHIEF OPS OFFICER . Without that, wed be in a very different place now with regards to access.. He almost certainly makes more. Culture, This content is from: Vickie Fuller, beginning with no special advantages, achieved success in both the corporate and non-profit spheres with a lifetime of hard work. The occasional series "How it feels" was first published in the 2005-2006 volume of the Orient. New York Law Journal. Much of this has to be declared as taxable W2 income to the employee per IRS rules and is therefore in our total. The most obvious one here is Paula Volent at Bowdoin College. Always free. 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. He received a big payout classified as other in calendar 2015. She is also a council member at the Maine Coast Heritage Trust and a financial advisory committee member at the American Institute for Conservation. Affiliation: Office of the President. 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. She will join the . . 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. . 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. 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. The average grant for all aided studentsfunds that do not have to be paid backis approximately $56,000 a year. The judge sided with the Freep, but the university argued that they had legitimate reasons for keeping them private. Chief Investment Officers are high-level executives in charge of managing their organization's investment portfolios. Volent, who was hired by Bowdoin in 2000, oversees the College's $904 million endowment. Were convoluted, but were consistent. Chief Investment Officer Bowdoin College Jul 2021 . Bryant will succeed Paula Volent, who announced in February that she intends to step down . 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. Bowdoin College names new CIO. He then went on to earn a PhD in biology at Syracuse University in 1976 and a JD from Columbia University in 1979, where he was a Harlan Fiske Stone Scholar. Bowdoin College is 438th in the world, 175th in North America, and 163rd in the United States by aggregated alumni prominence. No credit card required. Were not going to do any deep mathematical analysis here, but certain patterns are pretty obvious. Rockefellers research-oriented, biochem-heavy institutional values will present new opportunities for Volent. 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. There's not much that hasn't been long since said. Jun 2018 - Aug 20183 months. 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. 5700 College Station (207) . Before embarking on her career in investment management, Volent worked as an art conservator specializing in the conservation of art on paper. Retained Executive Search Over the past two decades, Volent has overseen a level of endowment growth unrivaled by any other institution in the country. Manager Selection February 23, 2023. He will oversee the management of the Brunswick, Maine, college's $1 . Bowdoin College has earned a 100% for the Accountability & Finance beacon. Well-known alumni include John L. Flannery, who in 2017 was named chairman and chief executive officer of . So, the downward march of the comp rankings pretty closely follows the downward march of AUM on this list. Search Bowdoin College Search. Were looking for a Chief Investment Officer to manage a $1.5 Billion investment portfolio. At Yale, Volent took classes and also held a job in the investments office under David Swensen, Yales longtime investments manager who passed away last week. 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. This is the Bowdoin Orient's archive site. Always high-quality. All funds are managed according to the policies established by the Board of the Purdue Research Foundation under the direction of the Investment Committee. "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.". 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 . But there are exceptions. Matthew P. Orlando of Brunswick has been promoted to the position of senior vice president for finance and administration at Bowdoin . In 2006, we hired Collette Chilton to the new position of Chief Investment Officer. BOWDOIN MAGAZINE (ISSN: 0895-2604) is published three times a year by Bowdoin College, 4104 College Station, Brunswick, Maine, 04011. Here are their stories. Orlando named chief financial officer at Bowdoin College. We doubt if anyone is going to top it. Volent flies frequently to meet with investment mangers across the country, so a New York location should make traveling easier for her.