HMC President Leaves - Harvard Is Still Rich, Bitches!

After announcing 23 percent growth in Harvard's endowment, Mohamed El-Erian, the man largely credited for raking in all that dough and president of Harvard Management Company, has announced that he is leaving.

El-Erian is going back to California and rejoining his previous employer, Pacific Investment Management Company (PIMCO).

He also told the Crimson that he wants to be closer to family. After all the resignations in the Bush Administration to "spend more time with family," our alarm bells go off. But El-Erian may also be lured by higher posts at PIMCO, where he will be co-CEO and co-CIO.

Despite being in the position for only a year and half, El-Erian was an overachiever, even by Harvard standards. Frankly, the size of their endowment is almost obscene. But Harvard is already launching a search for El-Erian's replacement.