UCOP Appoints New CFO
The University of California Board of Regents recently nominated Nathan Brostrom as the new executive vice president-chief financial officer (CFO) and interim chief operating officer for the UC system, giving him power over financial decisions affecting all campuses in the UC system.
Brostrom was nominated at a Regent’s meeting on Thursday, Sept. 18th and effectively took his position on Monday, Sept. 22th. He was serving as the interim CFO since April after the previous CFO, Peter Taylor, resigned from his position. As part of his new position, Brostrom will have authority of real estate management, facility construction and maintenance, human resource administration, institutional advancement and technological support and all aspects of financial management for the UC system according to the University Office of the President.
In addition to management, Brostrom will also serve as the chief representative for the UC system in negotiations regarding financial matters with banks, rating agencies, investment houses, financial auditors and other private or state financial interests.
Brostrom has had many years of experience with public education and finances in the University of California system. He started his career in the UC system as a vice chancellor of admissions at UC Berkeley in 2006 after he was a managing director and manager of the western region public finance group as part of J.P. Morgan which deals directly with public interests such as infrastructure projects. Brostrom also had worked for four years under former California treasurer, Kathleen Brown. In 2009 he became UCOP’s interim vice president of business operations and took the full position in 2010.
Brostrom’s term will last until September 21st, 2015 or until his term is extended by a vote from the UC Regents and his pay of $412,000 a year was approved by the Regents.