BOSTON, June 10 Jane Mendillo, who has overseen
Harvard University's $32.7 billion endowment as president and
chief executive officer of the school's investment arm Harvard
Management Company for six years, is planning to step down at
the end of 2014, the university said on Tuesday.
The university, the richest in the world, said it has
already begun looking for a replacement.
Mendillo steered the endowment through the financial crisis
and the university said that the endowment has earned an
estimated average return of 11 percent to 12 percent during the
five years ending on June 30, 2014.
(Reporting by Svea Herbst-Bayliss; Editing by David Gregorio)