Appointment of Senior Vice President and Chief Financial Officer

August 2, 2004

Members of the Rutgers Community:

I am pleased to announce the appointment of Jeffrey C. Apfel as senior vice president and chief financial officer, effective September 6. His appointment fills the vacancy created by Joanne Jackson's retirement as senior vice president and treasurer earlier this year.

Jeff joins Rutgers from Rhode Island School of Design, where he has served since 1996 as executive vice president for administration and finance, responsible for all aspects of the institution's financial operations as well as campus services, human resources, government relations, publications, and college marketing. Prior to that, he served for eight years as a senior vice president for Boston-based investment banking firm Tucker Anthony Incorporated, advising on and underwriting financing programs for colleges and private academies in New England. Jeff also has experience in city and state government in New York and holds master's degrees in public administration and teaching.

At Rutgers, Jeff will join my cabinet and report directly to me. He will be responsible for treasury, controllership (general accounting, payroll, student financial services, and post-award grant administration), internal audit, and risk management and insurance, including the university's occupational health department. He will serve as treasurer of the university's governing boards and oversee an endowment of more than $400 million.

Jeff Apfel brings extraordinary talent, experience, and insight to Rutgers, and I am eager to work with him to help the university gain maximum benefit from its resources and financial opportunities. Please join me in welcoming Jeff to our community.

Richard L. McCormick
President
Rutgers, The State University of New Jersey