Joined Boards
Andrew Wiltshire, the head of alternative assets who left last year, was second-highest at $10.4 million, Harvard said. That’s compared with $8.4 million in 2013, according to a tax filing. Dan Cummings, managing director of real estate, was paid $8.7 million, up from $5.3 million in 2013. Robert Ettl, the chief operating officer, earned $4.4 million in 2014, up from $4.1 million in 2013. Elise McDonald, an absolute return portfolio manager, earned $4.5 million in 2014; she wasn’t listed as one of the top earners in 2013.
Mendillo has become more visible this year, joining boards of investment bank Lazard Ltd, the Andrew W. Mellon Foundation and General Motors Co. GM paid board members $250,000 last year while Lazard paid directors $119,250 in 2014 plus stock worth $145,750, according to company documents. Mellon, a nonprofit, paid trustees as much as $25,000 in 2013, the most recent data show.
Mendillo’s institutional investing experience makes her a sought-after candidate for corporate boards, said Charles Elson, director of the University of Delware’s John L. Weinberg Center for Corporate Governance. Corporations are actively recruiting money managers to their boards, he said.
“Board are looking for people with significant experience in that area to help them formulate their communication to investors,” Elson said. “Who better than an investor to do that?”