Jane Mendillo will become president and chief executive officer of Harvard Management Co., according to a Harvard University report Thursday.
Mendillo will take charge of Harvard's $34.9 billion endowment, the world's largest college fund, beginning July 1. Harvard Management Co., based in Boston, runs the Harvard endowment.
Mendillo, 49, will succeed Harvard Business School professor Robert Kaplan, the fund's interim manager since Nov. 12. Kaplan will now become a member of the company's board.
Mohamed El-Erian resigned as the head of the company last year to return to Pacific Investment Management Co., also known as Pimco, as co-CEO and co-chief investment officer.
Mendillo returns to Harvard Management Company, where she worked for 15 years before joining the staff at Wellesley College. She was previously the company's vice president of external investments.
Mendillo was the chief investment officer at Wellesley for the last six years. Under her tenure, the endowment rose from $1 billion to $1.7 billion and had annualized returns of 13.5 percent.
The Wellesley endowment ranks No. 43 among the endowments of U.S. colleges and universities, according to the National Association of College and University Business Officers.
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