Word: erian
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...former endowment chief, Mohamed A. El-Erian, earned a total of $6.5 million, according to a University statement released last month. His five highest-paid employees at the Harvard Management Company (HMC) earned between $2.1 and $6 million...
...September, El-Erian abruptly announced his intention to step down from the helm of HMC after just 22 months in office. He was succeeded last month by Harvard Business School professor Robert S. Kaplan, a former vice chairman at Goldman Sachs who will serve as HMC's interim chief during the search for a permanent leader...
...Under El-Erian's watch in fiscal year 2007, Harvard's endowment earned returns of 23 percent, ballooning from $29.2 billion to $34.9 billion, even after $1 billion was withdrawn to underwrite nearly a third of the University's operating costs...
...highest-paid employee that year besides El-Erian was Andrew Wiltshire, the head of HMC's investments in natural resources, who earned $2.9 million. This year, Wiltshire saw his compensation double to $6 million, the second highest after...
...Erian will become co-CEO and co-chief investment officer at Pacific Investment Management Company, the Los-Angeles-based bond specialist where he had previously served as a managing director and overseen investments in emerging markets. —Staff writer Nathan C. Strauss can be reached at strauss@fas.harvard.edu...