CAMBRIDGE, Massachusetts (AP) - The chief of Columbia University’s $9 billion endowment has been hired to lead Harvard University’s $36 billion endowment.
N.P. Narvekar will become president and CEO of the Harvard Management Corporation starting Dec. 5. He replaces Stephen Blyth, who resigned this year for unspecified personal reasons.
Harvard officials praised Narvekar as a successful endowment manager who has delivered strong investment returns.
He has led Columbia’s endowment since 2002, where investment returns averaged 10 percent a year over the decade ending in 2015.
Narvekar comes to Harvard a week after its endowment reported a 2 percent loss on its investments this year, the endowment’s worst performance since 2009.
Before joining Columbia, Narvekar worked at the University of Pennsylvania’s office of investments. He said it’s an honor to join Harvard’s prestigious investment organization.
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