Harvard Turns to Mendillo to Run $35B Endowment

March 27, 2008 (PLANSPONSOR.com) - Harvard Management Company (HMC) has tapped the chief investment officer of Wellesley College as HMC's new president and chief executive officer.

A news release said the appointment of Jane Mendillo by HMC’s board of directors is effective July 1, 2008.As the head of HMC, Mendillowill direct the management of the nation’s largest university endowment, valued at $34.9 billion as of June 30, 2007.

Photo by Harvard University

The announcement said Mendillo has been CIO at Wellesley since February 2002.Before that, Mendillo was a senior investment officer at HMC where she eventually became HMC’s vice president of external investments.

“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 and a deep commitment to higher education,” said James F. Rothenberg, treasurer of Harvard University and chair of the HMC board of directors, in the news release. “Her investment savvy, her intelligence and exacting standards, and her skill as an organizational leader suit her well to this very important role.”

Mendillo currently chairs the board of The Investment Fund for Foundations (TIFF) Advisory Services, which manages endowment assets of approximately $8 billion for a nationwide network of more than 300 not-for-profit organizations.

Mendillo’s appointment concluded a search launched last fall, when Mohamed El-Erian stepped down as HMC president and CEO (See El-Erian Returns to Help Run PIMCO ).