Breakingviews | Back to college

Considered view

19 Jun 2008 22:21

Back to college

Context News

This week, Frank Yeary announced he’s leaving as Citi’s global head of mergers to become vice chancellor at his alma mater, the University of California at Berkeley – at the ripe age of 44.

Goldman’s 47-year old head of investment management, Edward Forst, said on Thursday he will return to Harvard University as executive vice president, where he will help guide its $35bn endowment.

Some Masters of the Universe are bowing out at the top of their game – including Goldman’s head of asset management and Citi’s M&A chief this week. Given projected declines in earnings, lower-paying alternatives like academia are starting to look good.

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