BOSTON Feb 13 Harvard University added Brian
Rogers, chief investment officer at T. Rowe Price Group Inc
, to the board that oversees the investment of its $35.7
billion endowment, the Ivy League school said on Monday.
Rogers joined the 11-member Harvard Management Company board
at a critical time, just weeks after the school's investment arm
announced sweeping changes in how it invests its money.
Harvard, the country's richest school, said in January that
it will abandon its hybrid investment approach where it managed
a chunk of the endowment in house. Instead Harvard Management Co
will now rely mostly on outside managers and lay off roughly
half of its 230-person staff this year.
"I am confident Brian's experience in asset management will
be extremely valuable as we develop new investment and risk
frameworks to support our new investment model," said Narv
Narvekar, chief executive officer at Harvard Management Co.
Rogers earned his undergraduate and business degrees from
(Reporting by Svea Herbst-Bayliss; Editing by Lisa Shumaker)