Executive Vice President and Chief Operating Officer Patrick Hogan has announced the appointment of Jim Matteo as Associate Vice President and Treasurer at the University of Virginia. Matteo held the title of Treasurer since April 2013 and prior to that served as Assistant VP for Treasury Management and Fiscal Planning at U.Va. since November 2008.
In his new role, Matteo will be charged with expanding the strategic role of the Treasury Department at the University, directing activities related to optimum asset management, maximizing financial resources to fund University strategic priorities and developing an investment model for supporting innovation. Examples of asset utilization include assessing the market value of noncore assets, which are not related to the University’s missions of education, research and service, and exploring how to realize their value to benefit of the University’s mission.
Matteo will continue to be responsible for debt portfolio management, banking and cash management, short-term investment and liquidity management, in addition to administering the relationships between the University and its various affiliated foundations.
“The University of Virginia is on a clear path to sustained excellence with a five-year strategic plan. This plan will require careful, thoughtful funding that will need to be undertaken simultaneously with the University’s normal operations and initiatives. Jim is poised to help the University accomplish this,” Hogan said.
Matteo joined the University in 2005 as director of Treasury Operations with the goal of building a modern Treasury function and office, in part, to capitalize on the autonomy granted to the University under the state’s Higher Education Restructuring Act. In doing this, Matteo developed a framework for external and internal Treasury activities at the University. Since joining the University, Matteo has led the University’s relationships with the financial community, including banks, rating agencies, investment managers, the IRS and the State Treasury Department.
President Teresa A. Sullivan said, “Jim has proven how the Treasury function can be a strategic asset for the University. Since joining U.Va., Jim has managed our debt portfolio, including debt refinancings resulting in savings to the University in the tens of millions of dollars. Jim’s management of the Universities cash and liquidity helped the University successfully navigate the 2008 financial crisis, and today we maintain a AAA rating from all three major rating agencies.”
Prior to joining the University, Matteo spent 14 years in the private sector with PPL Corporation, a Fortune 500 global energy company, managing treasury and finance functions and working as an internal auditor.
Matteo is a board member of the Treasury Institute for Higher Education, a member of the advisory board for the NACUBO/Commonfund Study of Endowments and a member of the NACUBO Awards Council.
He will continue to serve on a number of key committees at the University including the Organizational Excellence Leadership Council, the Policy Review Committee and as chair of the Retirement Administrative Committee.