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~Jane Mendillo of Harvard Management Company Chosen to Lead Wellesley's Investment Office~

For immediate release:
December 3, 2001

Mary Ann Hill

WELLESLEY, Mass. - Wellesley College today named Jane Mendillo as its Chief Investment Officer. Mendillo, currently the vice president for external management at Harvard Management Company, Inc., will assume her new post in February 2002.

"Jane Mendillo has an outstanding record of choosing and managing an investment team," said President Diana Chapman Walsh in announcing the appointment. "The search committee, which included trustees, senior staff, and faculty, were impressed by her thoughtful leadership, her fund management skills, and her enthusiasm and energy."

At Wellesley, Mendillo will be responsible for building an expanded investment office and overseeing the management of the college's billion-dollar endowment. Wellesley traditionally has utilized the skills of its board of trustees and outside money managers to invest its endowment. In the past five fiscal years, the market value of the endowment has increased 64 percent, passing the billion-dollar mark in 2000. The general endowment pool follows a complex asset allocation program with a variety of asset classes. The portfolio is built upon long-standing, high standards of fiduciary principles, such as broad diversification and a long-term time horizon. During the previous year, the investment office was overseen by Catherine Feddersen.

When the endowment topped a billion dollars, the college's leadership reexamined its investment management structure and decided to build an in-house investment team. "We determined that an endowment this large and this complex should be overseen by an expanded investment office, led by a seasoned, outstanding investment professional," said Lulu Chow Wang, chair of Wellesley's investment committee of the board of trustees and CEO of Tupelo Capital Management in New York. "Wellesley was looking for a top-notch investment office manager, and we have found one in Jane Mendillo," said Susan Vogt, Wellesley's treasurer and vice president for finance.

At Harvard, Mendillo is responsible for portfolio management of approximately $7 billion in assets, including more than $6 billion in externally managed investments for the university's endowment and $700 million in pension and related accounts. She joined Harvard Management Company in 1987 as an equities analyst. During her 14-year tenure there, she served as vice president for private equity and vice president for trusts before assuming her current position in 1998. She received her BA from Yale University and her MBA from Yale's School of Management.

"I am excited to have the opportunity to build the first in-house investment team at Wellesley," said Mendillo in accepting the appointment. "I have been impressed by the college's leadership team and look forward to working with them."

Founded in 1875, Wellesley College has been a leader in liberal arts and the education of women for 125 years. The College's 500-acre campus near Boston is home to 2,300 undergraduate students.


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  • Date Modified: December 3, 2001
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