Columbia: The university reported a $4.3 million package for Narvekar. He was replaced as CEO in October 2016 by Peter Holland, who had previously been CIO of the $10 billion investment management company.
Duke: Neal Triplett has been president of the management company since 2007. The university’s $7.9 billion fund is the smallest endowment among the 10 private colleges. Package: $3.9 million.
Stanford: Robert Wallace has been CEO of Stanford’s $26.9 billion endowment since 2015. Package: $3.5 million.
University of Pennsylvania: Peter Ammon has been at the helm of the $12.2 billion endowment since 2013. Package: $3.2 million.
Northwestern: William McLean has been CIO at the $10.5 billion endowment since 2002. Package: $2.8 million.
MIT: Alexander has been president of the $14.8 billion fund since 2006. His package included $649,208 in base pay, a $1.1 million bonus and $355,546 in other compensation.
The Massachusetts Institute of Technology Investment Management Co., based in Cambridge, has a unique structure. MITIMCo has two investment teams, including the Cambridge Real Estate Team and the Global Investment Team. It’s a structure not seen at MIT’s peer institutions. The Cambridge Real Estate Team has its own managing director, Steven Marsh, who received a $1.8 million pay package in 2016.
Endowments and pensions are competing for talent with the private sector. The California Public Employees’ Retirement System, the largest U.S. pension with about $355 billion in assets, voted on June 19 to offer its next CIO as much as $1.8 million a year. The salary would be more than double the compensation for the outgoing CIO.
“If he wanted to move somewhere, he could make double,” Edward Fowler, a managing director for asset management at recruiting firm RSR Partners, said about Alexander.
This article was provided by Bloomberg News.