Harvard endowment names new chief
The chief investment officer of Wellesley College was named today as the next executive to oversee Harvard University's $34.9 billion endowment.
Jane Mendillo was named as the new chief execuitve of Harvard Management Co., the university's organization responsible for the world's largest academic endowment. Mendillo succeeds Mohamed El-Erian, who left at the end of last year after a tenure of less than two years. Her appointment will become effective July 1.
Mendillo had been Wellesley's chief investment officer since 2002. Previously, she worked at Harvard Management for 15 years. Mendillo served as vice president in charge of external investments, a category that accounted for about a third of the entire endowment, in her last post at Harvard.
"Jane Mendillo has an excellent record as one of the most able and accomplished investment managers in the endowment world, as well as an extensive knowledge of the Harvard endowment nad a deep commitment to higher education," said Harvard treasurer James Rothenberg, who is also chairman of the Harvard Management Co. board.
Harvard said the Wellesely endowment had earned average annual returns of 13.5 percent during Mendillo's five year tenure. The endowment grew from $1 billion to $1.7 billion during that period.
(By Steven Syre, Globe staff)
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