By Galen Moore – Web Editor, Boston Business Journal
MIT Investment Management Co. (MITIMCo) managing director Philip Rotner will leave the university to take a position managing the endowment at Children’s Hospital Boston beginning May 1, according to an internal announcement circulated at Children’s.
At MIT, Rotner and fellow managing director Daniel Steele have been responsible for managing the university endowment’s investments in private equity and venture capital funds. Rotner has been managing MIT’s endowment for 17 years, the Children’s announcement stated.
According to a report published in the MIT Tech student newspaper last year, Rotner and Steele were among the 10 highest-paid employees at MIT in the academic year ending in 2008, with annual base salaries of $554,000 and $551,000, respectively.
Rotner’s move was first reported by the blog PEHub.com. An MIT spokeswoman was not able to say when Rotner’s departure becomes effective or whether the university plans to replace him.