Endowments and Foundations

Harvard Management Co. managing director to leave

Melinda Barber, a managing director at Harvard Management Co., will leave the firm later this month, according to an internal memo to employees by HMC President and CEO Nirmal P. "Narv" Narvekar obtained by Pensions & Investments.

"After nearly six years at HMC, Mindy Barber will be departing later this month to begin a new role at Pilot House Associates," Mr. Narvekar wrote in the memo. A spokesman for HMC declined to comment.

HMC oversees Harvard University's $37.1 billion endowment. The endowment for the Cambridge, Mass.-based university posted an 8.1% return for the fiscal year ended June 30.

Since taking over as CEO in December 2016, Mr. Narvekar has undertaken a massive overhaul of the company, reorganizing — and massively reducing — its staff as part of a plan to change its investment strategy from a specialized, or silo, approach to a generalist investment model in which all members of the investment team take ownership of the entire portfolio.