Today marks Jack Meyer’s final day as head of the Harvard Management Corporation, the investment group that invests Harvard’s billions. Meyer has been wildly successful in the job, so the pressure is on his successor, which may be one reason why, despite an almost year-long search, his successor has not yet been named.

Vice-president for finance Ann Berman—herself heading for the exits—tells the Crimson that there will be “transitional leadership” at HMC until a final replacement for Meyer is named.

There remain those at Harvard who are hoping that phrase “transitional leadership” will apply to other areas of the university.

In any case, this is a hugely important story. More than its students, more than its professors, what drives the modern Harvard is money, and it could be argued that Jack Meyer has been the most important person in the creation of modern Harvard. It could also be argued that this will be the most important personnel decision Larry Summers will make as president.

In universities as in politics, the adage holds true: If you want to know the real story, follow the money.