Jack R. Meyer will leave his post as president and CEO of Harvard Management Co. after June 30 to form a money management firm with four other Harvard Management professionals, according to a news release issued by Harvard University, Cambridge, Mass. Harvard Management runs the university's $22.6 billion endowment fund, which reportedly gained 21.1% in the year ended June 30 and has an outstanding long-term track record.
Mr. Meyer will be joined in the new venture by Harvard Management bond managers David Mittelman and Maurice Samuels, as well as Edward DeNoble and Michael Pradko. Further details on the new firm could not be obtained by press time.
The university has formed a steering committee to oversee Harvard Management during the search for a new president and CEO and to consider how to ensure the entity's future and the fund's future performance. James F. Rothenberg, Harvard University's treasurer and chairman of the Harvard Management board, will chair the eight-person committee, whose others members will include university President Lawrence H. Summers and former Treasury Secretary Robert E. Rubin.