Jane Mendillo to Run Harvard's $34.9 Billion Endowment

Harvard Management Company today named Jane Mendillo, CIO to replace the departed Mohamed El-Erian:

After an extensive search, Harvard University has picked Jane Mendillo, chief investment officer for Wellesley College, to run the nation's largest college endowment.

Ms. Mendillo will take over July 1 as president and chief executive officer of Harvard Management Co., the company the runs the $35 billion endowment. She succeeds Mohamed El-Erian, who left last year to return to Pacific Investment Management Co. in Newport Beach, Calif.

During her five years at Wellesley, the school's endowment had an average annualized return of 13.5%, and grew to $1.7 billion from $1 billion. Prior to Wellesley, Ms. Mendillo worked for 15 years at Harvard Management, where she held a number of positions, including vice president of external management.

"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 chairman of the HMC board of directors.

Hat Tip: WSJ