Blyth is set to lead HMC following several years when its returns have lagged behind many of Harvard’s peer institutions. But on Wednesday, Blyth stressed that HMC’s returns have exceeded its internal benchmarks and, he said, served Harvard’s needs.

“HMC has a singular aim, which is to support the operations of the University and to maintain most of the endowment for future generations,” he said. “Our five-year return is 11.6 percent and has beaten [the internal] benchmark every year, so I feel good about the performance of the endowment over the long run.”

Blyth also holds a Ph. D. from Harvard in statistics. As a professor, he has taught Statistics 123: “Applied Quantitative Finance,” a popular undergraduate course within the Faculty of Arts and Sciences, since 2009, and was awarded the Alpha Iota Prize for Excellence in Teaching in 2013. He was also a resident tutor in Winthrop House while he was a doctoral student at the University.

—Staff writers Matthew Q. Clarida and Amna H. Hashmi contributed to the reporting of this story.

—Staff writer Christine Y. Cahill can be reached at christine.cahill@thecrimson.com. Follow her on Twitter @cycahill16.

This article has been revised to reflect the following correction:

CORRECTION: September 24, 2014

An earlier version of this article incorrectly stated the month in which current HMC CEO Jane L. Mendillo announced she would step down. In fact, the announcement came in June.