Verne O. Sedlacek Named Chief Operating Officer at Commonfund
Leading Nonprofit Investment Manager Taps Former Head of John W. Henry & Company, Inc.
WILTON, CT, January 3, 2002 — Commonfund, one of the nation's leading managers of investment funds for nonprofit institutions, today announced it has appointed former Harvard Management Company EVP and CFO Verne O. Sedlacek as Executive Vice President and Chief Operating Officer. Most recently President and COO of John W. Henry & Company, Inc. and President and Director of Westport Capital Management Corporation and Global Capital Management Limited since 1998, Sedlacek will serve as a senior member of Commonfund's management team in the Office of the President. In this new position, Sedlacek will have oversight responsibility for all aspects of Commonfund's Corporate Finance and Accounting, Operations, IT, Strategic Planning and New Business Development, Human Resources, and Marketing Sales and Service groups. Though Risk Management and Legal report to the Office of the President, the COO will be responsible for the day-to-day supervision of these departments.
"The steadily increasing scope of Commonfund's businesses over the last few years has made it necessary for us to create a true Office of the President and appoint a Chief Operating Officer," said Bob Bovinette, President and CEO of Commonfund. "The fact that we've successfully recruited Verne Sedlacek to serve as our COO is further proof of our commitment to our clients, as we continue to draw the best and brightest talent from across the nation to help us provide superior products and services."
"After serving on the board of Commonfund Capital, I am pleased to take a leadership role in a company that I worked with when I was at Harvard and have admired for many years. I look forward to working closely with the very talented group of individuals at Commonfund to continue the Company's rich tradition of focus, leadership, innovation and commitment," said Sedlacek.
As EVP and CFO of Harvard Management Company, Sedlacek was responsible for managing the areas of personnel, budgets, systems, performance, analysis, contract, credit, compliance, custody, operations, cash management, securities lending, and market risk evaluation for the then approximately $14 billion University Fund. He currently serves on the boards of the National Futures Association, the Futures Industry Association, and the Chicago Mercantile Exchange. He is a member of the Global Markets Advisory Committee of the Commodity Futures Trading Commission. Sedlacek earned an AB in economics from Princeton University and was certified as a CPA by the State of New York in 1978.
About Commonfund
Founded in 1971, Commonfund is devoted to enhancing the financial resources of educational and other select nonprofit institutions including endowments, foundations and healthcare organizations through superior fund management, investment advice, treasury operations and e-procurement services. Directly or through its subsidiaries, Commonfund Capital, Commonfund Treasury, Commonfund Realty, and Commonfund Asset Management Company, Commonfund manages in excess of $30 billion for more than 1,500 member educational institutions, foundations, healthcare and other nonprofit institutions, representing one of the largest pools of educational endowment and operating funds in the world. In response to the growing needs of nonprofit institutions, Commonfund, together with its subsidiary companion organizations, offers more than 45 different investment programs including funds for the management of short- and intermediate-term operating cash reserves. All securities are distributed through Commonfund Securities, Inc.