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September 25, 2014

Insider Tapped to Manage Harvard's $36.4-Billion Endowment

Stephen Blyth, an eight-year veteran of the Harvard Management Company, has been promoted to chief executive of the in-house unit that oversees the nation's biggest higher-education endowment, Bloomberg writes. Harvard announced the choice a day after reporting a 15.4-percent return for the 2014 fiscal year, ahead of projections but behind several Ivy League peers.

Mr. Blyth, a statistician with a Harvard doctorate who teaches a course at Harvard currently serves as the nonprofit management firm's head of public markets. He will take control of the $36.4-billion endowment on January 1, replacing Jane Mendillo, who is stepping down after five years as CEO.