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Harvard endowment loses fifth high-level manager since spring 2013

18 Jun 2014

Harvard universityOne of Harvard Management Company’s highest paid traders has reportedly left the LP, the fifth high-level manager to quit the endowment in just over a year.

Apoorva Koticha is the latest senior staff member to exit the $32.7bn endowment according to Bloomberg, which cited two people familiar with the matter.

He follows CEO Jane Mendillo, who revealed last week she would resign at the end of the year, and money manager Mark McKenna.

Private equity head Lane MacDonald left the $33bn endowment management company in January just four months after getting the job.

He had replaced Peter Dolan, who resigned from the role in April 2013 after 18 years at the endowment.

The university has since hired Richard Hall to fill the position.

Bloomberg said the endowment is set to have an average annual return of 11 to 12 per cent for the five years ending June 30.

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