New USF Treasurer Named

TAMPA, Fla. (April 18, 2008) – The University of South Florida announced today the promotion of USF Associate Treasurer Fell Stubbs to the position of treasurer in conjunction with the retirement in August of USF’s first treasurer, Eric Walden.

"Eric Walden is someone I have truly enjoyed working with," said USF President Judy Genshaft. "He is a gifted and poised executive. We will miss him, yet we are fortunate to have Fell Stubbs step into this crucial position. Fell has the expertise and the experience to help us make a seamless transition."

In addition to serving as associate treasurer, Stubbs has served and will continue to serve as the executive director of the USF Financing Corporation and the USF Property Corporation. These two separate but complimentary entities are the financial structures through which the University acquires, constructs and manages property.

Stubbs joined USF in April 2005. Today, the USF Financing Corporation has grown to $320 million in assets, having financed the new Marshall Center student union, two new medical clinics and an office building for USF Health, the new 1,000 bed student residence facility – Magnolia Hall, and a student residence facility and parking garage on the St. Petersburg campus.

"I am very pleased and honored to be selected for this position," said Stubbs. "I look forward to serving the needs of the University and its affiliates."

Additionally, Stubbs, along with USF Controller Nick Trivunovich, will serve as the primary resource to the university’s new investment committee.

Stubbs received an MBA from the University of Denver and a BS degree in finance from the University of Colorado. Prior to joining USF, he served as senior vice president and CFO of Bank One Colorado, senior vice president and CFO of United Bancorporation of Wyoming; vice president of Wells Fargo Colorado, CFO of a semiconductor manufacturer in Arizona, and he managed pension funds for the University of the West Indies.

Walden first came to USF in 1973 to serve as assistant controller. He was promoted to controller in 1974 and continued in that position until 2003 when he was appointed the first treasurer for USF as part of the devolution of Florida’s state universities.

“Since its establishment, USF’s treasurer’s office has continued to evolve,” said Walden. “The growth and expansion that have occurred during my almost thirty-five years at USF have been rapid and very challenging. As I’ve often stated, I’m proud of being a part of the USF team. It’s reassuring knowing I’m handing the reigns to my esteemed and very capable colleague. Although I’m looking forward to my retirement from USF, I will greatly miss the professional relationships established during my tenure.”

The University of South Florida is among the nation's top 63 public research universities and one of 39 community engaged public universities as designated by the Carnegie Foundation for the Advancement of Teaching. It is one of Florida's top three research universities. USF was awarded more than $300 million in research contracts and grants last year. The University offers 219 degree programs at the undergraduate, graduate, specialist and doctoral levels, including the doctor of medicine. The University has a $1.8 billion annual budget, an annual economic impact of $3.2 billion, and serves more than 45,000 students on campuses in Tampa, St. Petersburg, Sarasota-Manatee and Lakeland. USF is a member of the Big East Athletic Conference.

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