Lazard Adds Ex-Harvard's Mendillo to Board in Asset Manager Push

  • Council on Foreign Relations' Haass also nominated as director
  • Mignon, Scott won't stand for re-election, Lazard says

Lazard Ltd. nominated Jane Mendillo, the former chief executive officer of Harvard Management Co., to the investment bank’s board amid a focus on asset management.

Richard Haass, president of the Council on Foreign Relations, has also been recommended to become a director, the New York-based bank said Wednesday in a statement. Laurent Mignon and Hal Scott have chosen not to seek re-election, according to the statement.

Jane Mendillo
Jane Mendillo
Photographer: Justin Ide/Harvard University News Office via Bloomberg

Lazard, the largest independent investment bank, is seeking to bolster asset-management operations, which complement its business of arranging deals. Mendillo, 57, stepped down in 2014 from the Harvard role after helping to steer the world’s largest university endowment through the credit crunch of 2008 and 2009. Haass was a senior Middle East adviser to President George H.W. Bush.

“Richard brings a world-class global perspective, fostered over many years at the highest levels of engagement,” Lazard Chairman and Chief Executive Officer Ken Jacobs said in the statement. “Jane brings a unique financial perspective, having successfully stewarded Harvard Management Co. through the financial crisis.”

Mendillo has spent more than 30 years in endowment and investment management, overseeing about $37 billion at the Harvard post, according to the statement. Haass, 64, previously was on the board of Fortress Investment Group LLC.

Lazard announced another high-profile addition last month when the firm said that Peter Orszag, who was previously the director of the Office of Management and Budget in President Barack Obama’s administration, will be joining from Citigroup Inc. to advise on mergers and acquisitions.

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