Harvard University paid its top six endowment officials $49.3 million total in 2013, up 50.3% from what the top six executives earned the year before, said university spokesman Jeff Neal.
Stephen Blyth, who was then managing director and head of public markets at Harvard Management Co., which oversees the Cambridge, Mass.-based university’s $36.4 billion endowment, was at the top of the list of executives as he was paid nearly $11.5 million in 2013. This is up 115% from what he earned in 2012. Mr. Blyth is now president and CEO of HMC.
Meanwhile, Jane Mendillo, HMC’s former president and CEO, made nearly $9.56 million during the year, up 99% from the year before. She retired at the end of 2014.
Alvaro Aguirre-Simunovic, natural resources portfolio manager, earned more than $9.55 million, a 44.7% bump up from the prior year.
Andrew Wiltshire, managing director and head of alternative assets, earned $8.5 million, up 7.6% from what he earned in 2012. Daniel Cummings, real estate portfolio manager, made $5.4 million, up 29% from what he earned the year prior. Finally, HMC’s fixed-income portfolio manager, Marco Barrozo, saw an annual compensation of $4.8 million in 2013. Mr. Barrozo was not among the top six highest compensated executives at Harvard in 2012.
Harvard's endowment posted a 15.4% return for the fiscal year ended June 30, 82 basis points higher than the 14.6% return of its benchmark policy portfolio.