Jane Mendillo

Jane Mendillo became CEO of Harvard Management Company in 2008, taking over just as the financial crisis devastated Harvard's endowment — which lost approximately 27% of its value, or about $11 billion, in fiscal year 2009. This was one of the worst performances among major endowments and created significant financial stress for the university. Mendillo spent her tenure restructuring the portfolio, reducing the complexity and illiquidity of certain positions, expanding the use of external managers, and rebuilding the endowment's risk management framework. She had previously worked at Wellesley College and earlier at Harvard Management Company itself. Her crisis management experience and the lessons from Harvard's losses during 2008-2009 influenced endowment investment practices at many universities.