BOSTON–Harvard Management Company (HMC) announced that Sanjeev Daga will become its next chief operating officer in February 2019, according to the Harvard Gazette. HMC oversees the Harvard University’s $39.2 billion endowment.
Daga, who most recently served as COO of Columbia University Investment Management Co. (CIMC), will replace retiring COO Bob Ettl.
“I had the pleasure of working with Sanjeev for more than 13 years at CIMC and we are thrilled that he will be joining the team,” N.P. Narvekar, CEO of HMC, told the Harvard Gazette. “His experience building and managing an extraordinary operations and IT effort at a leading endowment will be a great asset as we continue our organizational transition.”
Prior to joining CIMC in 2003, Daga worked in risk management for both the Royal Bank of Scotland (RBS) and the National Westminster Bank (NatWest). He holds an M.B.A. from the NYU Stern School of Business and a B.A. from Rutgers University.
“I am excited for the opportunity to join HMC and build on the work that Narv and the team have undertaken over the last two years,” said Daga. “I look forward to meeting with members of the team in the coming months and learning about the challenges and opportunities ahead, so that I can hit the ground running in February.”
Narvekar also expressed great appreciation for the partnership he has had with Bob Ettl since joining HMC.
“After a long, successful career in finance, Bob made clear to me a while ago that he was looking forward to retirement. I have been incredibly fortunate to have him as a partner in both the assessment and implementation of the strategy we developed,” said Narvekar.
Bob Ettl joined HMC in 2008 as a managing director and chief operating officer, and served as HMC’s interim CEO in 2016, prior to the appointment of Narvekar. Ettl will remain with HMC through 2019, assisting Daga with his transition in the months following his arrival and then continue as an adviser until the end of the year.
HMC also announced that Kevin Shannon, chief financial officer, plans to retire at the end of 2019, after 10 years at HMC. In consultation with Shannon and Ettl, Daga will determine whether a new CFO is needed or if the responsibilities will be distributed among the existing team.
Narvekar added, “I remain incredibly grateful for all that Bob and Kevin have done and will continue to do for HMC during the upcoming transition.”