Management Unit Names First Woman

Harvard's new independent management company has named its first woman professional as trading associate, and a vice president of the First National Bank of Boston as its fourth partner.

Kathleen O'Neil began this week at the Harvard Management Company as an assistant to trading partner Almore I. Thompson. O'Neil has worked for Thompson at the Massachusetts Financial Services (MFS) since she graduated from college five years ago.

Start In September

Thompson, who has worked at MFS for 25 years, will leave his job as vice president there and start work for Harvard Management on September 1.

O'Neil will "be there to set the structure and get things rolling" until September, Thompson said yesterday.

Louis Frederick Klein Jr. '49 will become Harvard Management's research partner on August 5. Klein is now a vice president for investment research at the First National Bank of Boston. He has worked there since graduating from the College.

Walter M. Cabot '54, president of Harvard Management Company, will name several more partners and associates before September.

The management company took control of the University's $1.4 billion portfolio on July 1. The company was established this spring by Harvard Treasurer George Putnam '49 and the Harvard Corporation to enable the University to handle its endowment internally when State Street Management and Research ended 26 years of performing the chore for Harvard on July 1.

Cabot heads a committee on which Putnam also serves that is now attempting to select about five outside management companies to handle $400,000 of the portfolio in $50,000 to $100,000 segments.

Cabot said this spring he wants to work closely with all of the outside management companies in an effort to set up an in formation-sharing relationship between all those involved with Harvard's portfolio.

George Siguler, investment analyst for Putnam and a member of Cabot's selection committee, said yesterday that the selection of the outside firms is still "months away."

In addition to working with other management companies to gather investment information, Harvard Management may call upon experts in the Harvard community for investment and money management advice, Klein said yesterday.