Paula Volent, a leading investment manager who oversaw Bowdoin College's $2 billion endowment for two decades, has been named Rockefeller's next vice president and chief investment officer. In opening the office, Bowdoin joins a group of colleges and universities that have moved their offices closer to financial centers. "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.". And, we highly doubt Ms. Fuller was looking for a cushy job when she accepted an offer from Williams. About half the schools in the $500 million $1 billion range also have a dedicated CIO or equivalent, but they are omitted here, however well paid they may have been. BOWDOIN COLLEGE BRUNSWICK, ME 04011-8445 | Tax-exempt since June 1935. 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. She serves on a number of boards and investment committees including those of the National Gallery of Art, the Yale School of Management, The Rockefeller Foundation, the National Womens History Museum, Girls Who Invest, and MSCI. Vice President for Institutional Affairs. News & Research forInvestmentLeaders, J.P. Morgan Credit and risk management After Over 20 Years at Bowdoin, CIO Paula Volent Is Bowing Out, This content is from: She did it because of her love for Bowdoin. Were not going to do any deep mathematical analysis here, but certain patterns are pretty obvious. 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. In a very few cases we estimated comp based on our industry knowledge, rather than omitting a major school. Early life and education. Volent didnt make her first investment until ten months into her new job, spending close to a year getting familiar with Bowdoins risk profile, the members of the Colleges investments committee and the money managers she would be working with in the future. According to the Associated Press, Gwen Lexow, Bates director of Title IX and civil rights compliance, wrote in an email to students that said she heard members of the Bates community expressing deep concern about the impact of the language contained in the flyers and graffiti, particularly on Jewish members of our campus community. . Finally, Volents path led her back to Bowdoinbut this time in the treasury rather than the art museum, where she has been ever since. 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. 5700 College Station (207) 725-3221. Were looking for a Chief Investment Officer to manage a $1.5 Billion investment portfolio. Tulsa-based Williams processes and transports natural gas, so what followed was annoying but predictable. If she now has a chance to be properly compensated by helping to manage an $8 billion energy company, then more power to her. Nearly half of the endowment is permanently restricted by donors to the support of student financial aid. CHIEF INVESTMENT OFFICER IS OPTIMIZED FOR. Office of the President. The IRS requires a certain degree of granularity and, in most cases, we see items for base salary, bonus, other, and total. A Bowdoin spokesperson declined to comment on where Volent is headed next or who her replacement will be. It has been a great honor to oversee Bowdoins endowment, said Volent. 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. 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. Bowdoin also offers internships to students every summer in the Brunswick investment office; it is not known whether these internships will be available in New York. And experience with manager search and selection in opportunistic credit is highly desirable. If youre interested, send me your resume. Bowdoin College names new CIO. 30. $1,981,536,000. Bowdoin Colleges long-time chief investment officer Paula Volent is stepping down. 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. from the Catholic University of America Columbus School of Law in 2015. . New York Law Journal. Bowdoin College. About; Bookstore; Campus Map; Colby Magazine; Dare Northward; Dining . 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. 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. In a field still dominated by men, she has been nationally recognized for her standout success. Our insights and commentary come from our clients board members, CEOs, chief investment officers and the global investment community within which we work as executive search professionals. A direct Mayflower descendant of Richard Warren, Jean was born on March 28, 1939, to parents Frank N. and Harriet O. It was echoed by the New York Post, with: Ex-pension chiefs cushy gas company gig raises eyebrows. But there are exceptions. Led by Chief Investment Officer Mauricia Geissler and operating under the guidance of Amherst's Investment Committee, the Amherst College Investment Office is . He earned an undergraduate degree in classical archaeology at the University of Michigan and a law degree at the Duke University School of Law, as well as an MBA from Dartmouth Colleges Tuck School of Business. Compensation is a delicate issue; but recruiters need to keep track of it. DeGraff earned her master's and doctorate . He almost certainly makes more. The most obvious one here is Paula Volent at Bowdoin College. 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. April 16, 2021. There are probably other cases of non-typical payouts on the list, but we cant identify all of them. We wanted this chart to be a book-end to our reporting of investment performance for FY2017. The Investment Office team and the Institute's Board of Trustee Investment Committee's goal is to provide increased support for the Institute's academic and research programs . Nevertheless, the losses didn't make a dent in last . The judge sided with the Freep, but the university argued that they had legitimate reasons for keeping them private. 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. Administration. "Williams, Dartmouth, Tulane, and others maintain off-campus investment oversight offices," wrote Volent. Corner Office. $10.7. 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. from the University of New Hampshire. Bowdoin ranks only 69th by AUM (FY2017), but 10th by CIO compensation in 2015. $1,200,798. At Rockefeller, we have enjoyed an enviable record of investment success under Amy Falls, says Bill Ford, chair of Rockefellers Board of Trustees. Officer. Volent is on the board of directors at MSCI and the board of advisors for the Yale School of Management. 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." Skorina seeks CIO for $1.5 Billion portfolio. 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. Affiliation: Office of the President. Prior to moving into the financial sector, Bryant was an associate at the New York City law firms of Dewey Ballantine and Winston & Strawn. 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. Conn. Williams hired Collette Chilton as its chief investment officer in 2006 and opened the Boston office shortly after. 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. Michelle Chamberlain. He will oversee the management of the Brunswick, Maine, college's $1 . Charles Skorina & Co. is the exclusive search agent for this position. You are strongly encouraged to use a real name or identifier ("Class of '92"). A Maine resident herself, Volent will remain connected to the College and the state even after she assumes her new position. 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.. During her time at Bowdoin, Volent oversaw top-decile growth of the colleges endowment over the past one-, three-, five-, ten-, and twenty-year periods. Chief Investment Officer at Bowdoin College New York, New York, United States. President Barry Mills announced last night that he plans to remain at the helm of Bowdoin for at least five more years. 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. Mills previously served as the deputy presiding partner of Debevoise . 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. in 2008 and earned his J.D. Our chart shows W2 earnings only, paid in calendar year 2015 and taxable to the CIO. (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.). Office of the President. Our team, led by Senior Vice President and Chief Investment Officer Niles Bryant with the support and insights of our Investment Committee, did outstanding work to preserve much of the extraordinary gains we earned in the prior year, while generating substantial liquidity. Manager Selection February 23, 2023. Executives Listed on Filing. June 07, 2018. www.charlesskorina.com, THE SKORINA LETTER:Sign-up Senior Vice President and Chief Investment Officer. 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. Search Bowdoin College Search. Paula Volent. Michael S. Hussey. 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. I feel like in investing, that approach has carried over. 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. I have great confidence that the Bowdoin endowment will be in the very best of hands going forward. $10.5. 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. 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. 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 . Then, at the end of July, the publicly-listed Williams Companies (NYSE: WMB) announced her appointment to their board. Williams is an S&P 500 company, so virtually every institutional investor on the planet has a piece of their equity. She is also a council member at the Maine Coast Heritage Trust and a financial advisory committee member at the American Institute for Conservation. This support includes enabling expanded access, subsidizing tuition for every student, paying for the best teachers and facilities, creating knowledge and supporting basic operations. Bowdoin College. There's not much that hasn't been long since said. If you have a friend or colleague who might be suitable, please spread the word.