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Harvard will keep disputed pay policy.

The Boston Globe (Boston, MA)

| October 15, 2005 | This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)Copyright

Byline: Charles Stein

Oct. 15--Harvard University plans to stick with the policies that have made the management of its $26 billion endowment both successful and controversial.

In an interview yesterday, Harvard President Lawrence Summers yesterday said Harvard was committed to two things: managing some of its money in-house, and paying the high salaries required to retain star money managers.

"Harvard is prepared to provide the necessary compensation to attract top talent to work at Harvard Management Co.," said Summers, referring to the entity that runs the endowment.

Summers made his remarks on the day the university named a new president of Harvard…

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