Harvard’s $57 Billion Fund Names McGuire, Erdoes to Board

Harvard University’s endowment named three alumni of the university to join the board of Harvard Management Co., which oversees its $57 billion fund.

Mary Erdoes, the head of JPMorgan Chase & Co.’s asset and wealth management business, Lazard Inc. President Raymond McGuire, as well as Paul Edgerley, managing director and co-founder of private family office VantEdge Partners, are joining the board, according to a statement on Tuesday.

Harvard’s endowment is the richest among US colleges, with distributions funding almost 40% of the university’s operating budget.

The endowment, which has been criticized for lackluster performance ...