University of Chicago, MBA, Finance With the Tokyo 2020 marathon days away, we caught up with her to reflect on a few matters running-, and non-running, related. Druckenmiller Says Alternatives Fueled Bowdoin's 14.4% Gain Senior Staff. 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. Leadership Maine is a powerful, nine month, outward journey that takes a leader beyond their day-to-day experience and expands their capacity to shape our state's future. Bryant will succeed Paula Volent, who will step down at the end of June after more than 20 years on the job. "Our team, led by Senior Vice President and Chief Investment Officer Niles Bryant . Williams is an S&P 500 company, so virtually every institutional investor on the planet has a piece of their equity. We do observe that some contracts mandate a biggish base salary and smallish bonus; others, the opposite. 7.7. 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. The investment portfolios for the endowments of the Massachusetts Institute of Technology and Bowdoin College lost 5.3% and 7.1%, respectively, in 2022, as volatile markets and rising rates have caused nearly every endowment to report investment losses for the fiscal year ending June 30. Senior Vice President and Chief Investment Officer. 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. Chief Investment Officer Brown University . The reader should also be warned that pay for a given year, while accurate, is not always typical for that CIO. The latest discoveries delivered straight to your inbox. Satellite investment office established in New York City The Bowdoin She worked as a senior associate at the Yale investments office, according to her biography on the website for theNational Womens History Museum, where Volent serves as a board member. Matthew G. Bibbens '92. Community Reinvestment Officer Salary in Abbot, Maine 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. Modern Endowment Management: Paula Volent and the Bowdoin Endowment "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.". Work at the Investment Office centers on selecting and monitoring investment . No Reproduction Without Prior Authorizations. Is Yales Endowment the New Tiger Management? Bowdoin College CIO to leave June 30 | Pensions & Investments Pay and Chief Investment Officers - Charles Skorina & Company 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. 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. 5700 College Station (207) . Bowdoin College names new CIO. 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. This relationship does not necessarily hold at smaller schools, but its pretty consistently true at the biggest ones. The Endowment is managed by a professional investment staff within the NYU Investment Office. Each issue explores how the worlds most accomplished asset managers think and invest. 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. Read Bio . www.charlesskorina.com, THE SKORINA LETTER:Sign-up You've seen his Stanford commencement speech, of course. No hate speech, profanity, disrespectful or threatening comments. Beth Kowitt 07 Wins New York Press Club Award. 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. Work. He started in April as director of investments. Always free. Stanley Druckenmiller 75, the chair of Bowdoins Investment Committee, said, Niles will do an outstanding job as our next CIO, and I look forward to working with him., Niles is uniquely positioned for this leadership position at Bowdoin, said outgoing Chief Investment Officer Paula Volent. 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.. In our chart below, we can only offer the bare numbers. Then, at the end of July, the publicly-listed Williams Companies (NYSE: WMB) announced her appointment to their board. Administration. Finally, Volents path led her back to Bowdoinbut this time in the treasury rather than the art museum, where she has been ever since. 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. Jane Dietze - Chief Investment Officer - Brown University - LinkedIn Home - Charles Skorina & Company 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. [Swensen] took me inhe had me filing at first, and over time, he got me working on projects, Volent said. 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. Net Assets. Bowdoin College announces new head of admissions program and new Rockefeller University has appointed Paula Volent vice president and chief investment officer to oversee its $2.5 billion endowment. Yale Endowment Chief David Swensen Leaves Legacy Of Top College [II Deep Dive:The Endowment Location Conundrum]. I think that I am a better investor for my background in the liberal arts, Volent said. He will begin work in mid-September, following his relocation from New York City. K. Niles Bryant - Chief Investment Officer - Bowdoin College | LinkedIn and Secretary to the Board of Trustees. AUM as of June 30, 2017), COMPENSATION: TOP 74 CHIEF INVESTMENT OFFICERS, Baseline compensation year: December 31, 2015 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. Bowdoin ranks only 69th by AUM (FY2017), but 10th by CIO compensation in 2015. An example is Douglas Phillips at University of Rochester. Thayer comes to Grinnell from the Oberlin College Investment Office in New York City, where he served as CIO. . Paula Volent '97 Named Rockefeller University's Chief Investment Officer Culture, This content is from: Michael S. Hussey. COVID-19 Testing and Response Team Specialist. Rockefeller University taps Bowdoin College investment chief as next Vickie Fuller, beginning with no special advantages, achieved success in both the corporate and non-profit spheres with a lifetime of hard work. 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. 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. 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.. April 16, 2021. Download pdf of bio. President Kim Cassidy and the Board of Trustees deserve credit for that bold vision. To take one example, when Jagdeep Bachher moved down from Alberta to northern California as CIO at University of California Regents he landed in a far more expensive housing market. Ammon, Peter H. U of Pennsylvania. . Our chart shows W2 earnings only, paid in calendar year 2015 and taxable to the CIO. But in big-time academia, CEO pay often trails the CIO and probably the football and basketball coaches as well. "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.". Prior to moving into the financial sector, Bryant was an associate at the New York City law firms of Dewey Ballantine and Winston & Strawn. 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.". Endowment. But, we feel no such constraint. "The College's endowment is invested across a range of asset classes in global markets. Bowdoin College names new CIO | Pensions & Investments Investment Office | Wellesley College 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. Most of that consisted of a $13.6 million bonus. The official University of Michigan salary-disclosure listing (page 447) for 2017 showed CIO Erik Lundbergs total comp as $720,000. Compensation and chief investment officers - Charles Skorina & Company Back Submit. BOWDOIN MAGAZINE (ISSN: 0895-2604) is published three times a year by Bowdoin College, 4104 College Station, Brunswick, Maine, 04011. In Roses eyes, Volents loyalty to Bowdoin in the face of far more flashy and lucrative competing job offers over the past two decades most clearly capture her commitment to and love for the College, and this in itself is deserving of gratitude. Paula is unquestionably one of the most accomplished investment officers in the country, and we are thrilled that she has agreed to join us in this vital role, says Richard P. Lifton, Rockefellers president. [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 over 5 years Bowdoin beat him by 170 basis points! She will leave Bowdoin having brought the value of the endowment to $1.8 billion as of the end of the last fiscal year, 387 percent growth from when she started. But they may get significant other items to round up their total. 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. from New York Universitys Institute of Fine Arts, and a B.A. He almost certainly makes more. Under Fallss leadership, Rockefellers investment team returned consistent top-decile growth of the Universitys endowment over the past decade. Its my home. History Teaching Assistant - Bowdoin College - LinkedIn She has almost 19 years on the job and her comp reflects how badly her board would like to keep her. US Army Russian Linguist, Japan Content from before 2017 is preserved on this site, but there are no updates. All investments are made through experienced investment managers with particular expertise in their markets of focus," she wrote. There are probably other cases of non-typical payouts on the list, but we cant identify all of them. He earned his law degree at the Duke University School of Law in 1998 and his MBA in 2003 at Dartmouth Colleges Tuck School of Business. "Williams, Dartmouth, Tulane, and others maintain off-campus investment oversight offices," wrote Volent. The Lewiston Police Department (LPD) has referred graffiti written in chalk on the campus of Bates College to the Maine attorney general, who is investigating the case as a possible hate crime. In 2020, Volent was named one of the top 100 Most Influential Women in U.S. Finance by Barrons. 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." I said, No, Im an artist, of course not!. The school announced Thursday that Volent, who had served as the endowment's investment chief since 2000 . 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. Craig W. Smith, a highly experienced and respected investment professional in the institutional investment industry, has been named chief investment officer of Tufts University. In 2006, we hired Collette Chilton to the new position of Chief Investment Officer. By RebeccaNorden-Bright • May 14, 2021. 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. - Conducted research . It was in Los Angeles that Volent got her first introduction to finance, as she took a few classes on the side to help her as she began running her own business. In this 2011 revival, Bowdoin students tell the Orient about their experiencesgood, bad, or just extreme. "Investment does not occur here at Williamstown," Chilton told The Record, "and so we need to have an office at a financial capital, which in this case is Boston.". Office of the President. from the University of New Hampshire. Chief Investment Officer - CIO: A chief investment officer is an executive position responsible for managing a company's investment portfolios. Private schools and some publics disclose it in IRS filings. I feel like in investing, that approach has carried over. 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. The most obvious one here is Paula Volent at Bowdoin College. 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. 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. Gregg Abella, AIF - Chief Executive Officer - Investment Partners The latest science discoveries delivered monthly to your inbox. News & Research forInvestmentLeaders, J.P. Morgan Credit and risk management The Investment Committee has oversight responsibility for the . In a 2007 article published in The Williams Record, Chilton cited greater access to investors as the principal reason for the move. Lewiston, Maine 04240. For example, because we are CIO-centric rather than school-centric, we report AUM for UTIMCO endowments as a whole and dont distinguish between U. of Texas and Texas A&M since the endowments are mostly handled as a single pool under a single CIO who earns a single paycheck. K. Niles Bryant was named senior vice president and chief investment officer at Bowdoin College. Kathy Weiler oversees market strategy, product development, brand management . 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. 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.. Niles Bryant | Bowdoin College - Faculty and Staff Profiles All rights reserved. Im going to stay very much involved with the College when I leave.. Company Website. Mendoza pushes for law requiring greater deposits in Illinois' 'rainy And items in the other column are not always explicable. Investment Officer - Sourcing and structured investments in Albania . Without that, wed be in a very different place now with regards to access.. . At Rockefeller, we have enjoyed an enviable record of investment success under Amy Falls, says Bill Ford, chair of Rockefellers Board of Trustees. She announced in February that she would be stepping down as senior vice president and chief investment officer at the college on June 30. If you have a friend or colleague who might be suitable, please spread the word. The portfolio is structured with a long-term time horizon, with portfolio diversification and manager selection directed toward protecting endowment capital in challenging investment environments, while growing those assets during periods of economic stability and growth. She is also a council member at the Maine Coast Heritage Trust and a financial advisory committee member at the American Institute for Conservation. Updates on the University COVID-19 response and operations available, Clinical Research and the Rockefeller University Hospital, Chemers Neustein Summer Undergraduate Research Fellowship Program, Campaign for the Convergence of Science and Medicine, Experience Science, the Arts, and Culture, Meet the scientific leaders who are changing medicine, Peek inside our 71 biomedical laboratories, Learn more about our flexible, supportive academic programs, Learn about the breakthroughs happening every day, Hear from the worlds leading speakers and thinkers, Weve spent 122 years perfecting the bioscience institute. Presidents get perks like first-class air travel, chauffeurs, club memberships for themselves and their spouses, etc. Bowdoin Colleges long-time chief investment officer Paula Volent is stepping down. 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. 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. 100 colleges whose grads go on to earn the most - omaha.com 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. What is a Chief Investment Officer? Since the investigation was announced on Monday, members of the Bates community have responded to the news of the investigation. Students who were set to study abroad in the fall of 2021 have had a tumultuous few weeks. 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. It is not clear if this factor influenced the decision. Matthew P. Orlando of Brunswick has been promoted to the position of senior vice president for finance and administration at Bowdoin . Bryant will succeed Paula Volent, who announced in February that she intends to step down . 6080 N. Sabino Shadow Lane In the corporate world, the CEO almost always commands the big bucks. The portfolio she has built is truly one of a kind and her devotion to Bowdoins success in unmatched.. In our last letter we featured Vickie Fuller, retiring CIO of the $200 billion New York State Common Retirement Fund. Manager Selection February 23, 2023. Office of the Financial VP & Treasurer - Boston College Catch up on the latest reports, stories and opinions about Bowdoin and Brunswick in your inbox. 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. This is probably deferred comp which was accrued over several years and finally disbursed per his contract. (Compensation as of calendar year-end 2015. A Bowdoin spokesperson declined to comment on where Volent is headed next or who her replacement will be. Salary ranges can vary widely depending on many important factors, including education , certifications, additional skills, the number of years you have spent in your profession. 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.