Harvard University, Cambridge, Mass., paid its top seven endowment officials $29 million in 2020, according to a news release Friday.
Nirmal P. "Narv" Narvekar, president and CEO of Harvard Management Co., which oversees the university's $53.2 billion endowment, was paid $6.24 million in calendar year 2020, in line with his $6.25 million in total compensation in 2019.
Sanjeev Daga, HMC's chief operating officer, received compensation totaling $4.99 million in 2020, as well as reimbursed compensation that he forfeited when he left Columbia University's investment office to join HMC in February 2019. That compensation brought what he received in 2020 to slightly more than $6.02 million.
Richard Slocum, HMC's chief investment officer, made $4.99 million during the year, and Kate Murtagh, chief compliance officer, made $2.52 million. Mr. Slocum made $5 million in 2019.
Elise McDonald, John Shue and Hans Plukas, managing directors on the general team, made $3.7 million, $3.5 million and $2 million, respectively.
Harvard University's endowment returned 33.6% for the fiscal year ended June 30, growing by $11.3 billion.
"Harvard's endowment plays an increasingly vital role in supporting the University's mission of research and teaching. From record levels of financial aid to filling funding gaps that arose due to the COVID-19 pandemic, the endowment allows Harvard to realize its academic aims," said Paul Finnegan, chairman of HMC's board, in the release. "The HMC team's effective repositioning of the endowment for long-term success is critical for Harvard's present and future endeavors."
