June 17 (Bloomberg) -- Harvard Management Co.’s Apoorva K. Koticha has left his post managing money, in a third high-profile departure from the world’s largest endowment fund, according to two people familiar with the move.
Koticha was a managing director in international fixed income, according to one of the people, who asked not to be identified because the matter is private. Christine Heenan, a spokeswoman for Harvard, declined to comment, as did Koticha.
The exit of Koticha brings the number of executives departing from Harvard Management in the past month to three. Harvard Management’s president and chief executive officer Jane Mendillo said June 10 that she’s resigning at the end of this year to pursue personal interests. Mark McKenna, a money manager at the endowment since 2009, moved to BlackRock Inc. to start an event-driven hedge fund.
Koticha was among the highest-paid employees at Harvard Management in 2011, when he collected almost $3.1 million in compensation, compared with $5.3 million for Mendillo that year, according to regulatory filings. Koticha’s name was not present in the list of most-compensated money managers at Harvard Management in 2012, the most recent calendar year for which the fund has disclosed pay.
Koticha had worked at Harvard Management since 2007, and had previously worked for Citigroup Inc. in various roles, including as managing director in charge of global multi-asset derivatives and European interest-rate options, according to a biography posted on the website of Southern Methodist University’s Cox School of Business. He attended the Indian Institute of Technology in Mumbai, according to his LinkedIn page.
Mendillo, who was named to run Harvard’s endowment in 2008, is resigning after helping it to recover from the financial crisis. In an interview last week, Mendillo said she wasn’t looking for a job in finance and wanted to pursue interests such as music, education and projects in the Boston community.
Harvard is still seeking to recoup losses after the endowment peaked at $36.9 billion in 2008. The university posted a one-year investment return last year of 11.3 percent, the lowest among the Ivy League schools. Its five-year annual average gain of 1.7 percent is also the worst of the eight schools, according to data compiled by Charles Skorina, founder of San Francisco-based executive search firm Charles Skorina & Co.
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