BOSTON– Harvard University announced that N.P. (Narv) Narvekar has been appointed to the position of president and chief executive officer of Harvard Management Company. Narvekar will assume his role at HMC on December 5, 2016 and will report to HMC’s Board of Directors.
The total endowment value of HMC, the investment management arm of Harvard University and manager of the country’s largest endowment, is $35.7 billion for the fiscal year ended June 30, 2016.
Narvekar was most recently chief executive officer of Columbia University Investment Management Company (“IMC”), a position he held since 2002. In this role, Narvekar was responsible for setting and leading investment strategy for Columbia’s $9 billion endowment portfolio. IMC has delivered annualized returns over the ten year period through FY 2015 of 10.1%.
“Harvard Management Company plays a critically important role in supporting the students, faculty and staff who advance the teaching and research mission of the university,” said Drew Faust, president of Harvard University. “We are pleased to welcome Narv to Harvard and are confident that his leadership skills and deep experience at the highest levels of investment management will position HMC for long-term success.”
“Narv is a highly successful endowment manager with an outstanding 14 year track record heading a large endowment, providing steady leadership and delivering strong returns,” said Paul Finnegan, chairman of the HMC Board of Directors and a member of the Harvard Corporation, the University’s principal governing board. “He is a superb leader and mentor with a proven ability to recruit, build and retain a talented and committed investment team.”
Narvekar said, “It is an honor to join such a prestigious investment organization and help support the mission of Harvard University. HMC has an unparalleled investment platform among endowments and I look forward to working with the HMC Board and team and using my investment experience to serve Harvard in the most effective way possible.”
Finnegan added, “On behalf of HMC and the University, I want to thank and acknowledge Bob Ettl for his effective and steady hand in leading HMC during the transition. Bob is an important leader within HMC and we are grateful he will continue serving as chief operating officer going forward.”
Before joining Columbia, Narvekar was a managing director in the office of investments at the University of Pennsylvania, where he focused primarily on building the hedge fund and private equity portfolios. Prior to this, he held positions at J.P. Morgan & Co. including managing director, equity derivatives group and vice president, private placement advisory group.
Narvekar holds an MBA from The Wharton School of the University of Pennsylvania and a B.A. in Economics from Haverford College.
Founded in 1974, HMC manages Harvard University’s endowment and related financial assets, seeking strong investment returns to advance the University’s academic mission.