Mohamed El-Erian, who has managed Harvard University's $34.9 billion endowment since 2006, is resigning to return to work at Pacific Investment Management Company.
El-Erian, who took the Harvard job after a lengthy search, will rejoin Pimco, one of the world's biggest fixed income managers, as co-chief executive officer and co-chief investment officer, Harvard said.
El-Erian is returning to southern California to be closer to his family. He will step down at the end of the year, the university said in a statement.
Last month, Harvard, already America's richest university, said its endowment returned 23 percent, significantly above the 16.7 percent gain posted for 2006.
El-Erian is a well-known respected emerging markets specialist and Harvard's bets on those markets were instrumental in boosting returns, El-Erian said less than a month ago.